Middle East

PE not included in California Iran ban(3)

The state of California has passed a law requiring that CalPERS and CalSTRS divest from companies that do business in Iran, but unlike similar bans elsewhere, private equity is not affected.

PE not included in California Iran ban(2)

The state of California has passed a law requiring that CalPERS and CalSTRS divest from companies that do business in Iran, but unlike similar bans elsewhere, private equity is not affected.

Report: China to invest $4bn in Flowers fund

Negotiations between the Chinese Investment Corporation and JC Flowers come as the sovereign fund’s $3 billion investment in Blackstone took a further hit yesterday, with Blackstone's share price reaching a new low.

Jordan raises $3.6bn for second fund

The middle market vehicle easily passed its $2.5 billion target, and more than triples Jordan’s capital under management.

CDC invests nearly $1bn in Actis infrastructure fund

The African remainder of CDC's energy company Globeleq will form the seed asset for emerging market firm Actis’ next $1.25 billion infrastructure fund. CDC also committed $750 million to the fund.

Financial sponsors table low-ball Migros bids

The private equity firms bidding for the Turkish supermarket have tabled lower than expected bids, although should the deal complete it will be one of the largest European buyout financed since the problems in the credit markets became apparent.

KKR signs Turkey’s largest deal(4)

Kohlberg Kravis Roberts, the US buyout firm, has bought UN Ro-Ro in its first transaction in Turkey, making it the latest firm to gain exposure to the country and the neighbouring MENA region.

Saudi Arabian government-owned bank takes stake in HBG

Middle Eastern private equity firm HBG Holdings has sold a management company stake to a private equity fund of The National Commercial Bank of Saudi Arabia, as Middle Eastern governments continue to buy into the asset class.

DFJ closes debut growth-stage fund on $290m(4)

US venture firm Draper Fisher Jurvetson has closed its first-ever growth stage tech fund on $290 million, exceeding its $250 million target. The fund is already 25 percent invested in five companies DFJ hopes will become ‘$1 billion’ enterprises.

Conversus commits $28.2m to three funds

The Euronext-listed fund of funds has made three new commitments, closed its first secondary fund portfolio and said at year end its net asset value grew nearly 12 percent since its July 2007 initial public offering.