Middle East

First Round: Getting ugly

First Round has never, to its knowledge, spawned another smaller but equally perfectly formed magazine intro section. But it is fully prepared to accept that parents tend to look at their offspring through rose-tinted glasses.

Emerging market funds distribute record amount

The $12bn of distributions by emerging market funds last year represent the highest level on record, while non-US developed market distributions rose a dramatic 74% year-over-year to $32.3bn, according to Cambridge Associates.

Outdoors clothing brand gets third PE owner

Teachers' Private Capital is understood to have paid Altor Equity Partners more than $300m for a 75% stake in Helly Hansen.

Atlantic-Pacific hires veteran fundraiser as CEO

Former Credit Suisse Asset Management executive Mark Bourgeois will replace Atlantic-Pacific Capital’s founder, James Manley, as CEO. Manley (pictured) will remain chairman.

Spanish rivals merge and plan fundraising

N+1 and Mercapital, two of the Spanish private equity industry’s most venerable firms, have merged to create a new manager that will hit the fundraising trail next year.

Permira says ciao to Valentino

The firm has agreed the sale of fashion brand Valentino to a Qatari investment group for about €700m, as it raises its fifth buyout fund, which is targeting €6.5bn and is yet to hold a first close.

Silver Lake seeks $7.5bn for next fund

A little more than a year after its blockbuster exit from Skype, Silver Lake has launched its fourth fund targeting $7.5bn.

OMERS PE expands London team

The C$55bn pension’s direct investing arm has hired director Isabelle Pagnotta from Arcapita. OMERS PE has completed three investments in Europe since opening its London office in 2009.

Carlyle invests in Turkish hosiery

Carlyle’s $500m MENA-focused growth capital and buyout vehicle will acquire a 30% stake in family owned Penti.

GIC and KIA buy into CVC management vehicle

Two sovereign wealth funds, GIC and KIA, and a third unnamed fund have acquired a 10% stake in CVC Capital Partners in a deal which will see them given preferential access to deals as well as a share of management fees and carried interest.