North Africa

Egyptian-backed ProDrive in pole position for Aston Martin(2)

Naeem Capital, the investment arm of an Egyptian bank, has reportedly emerged as front-runner in the acution for the luxury car maker, backing the bid by David Richards, a motor industry veteran.

SAC hires private equity team(2)

Hedge fund behemoth SAC Capital is preparing to launch an Asia-focused private equity investment platform under the direction of three professionals who worked together at Ripplewood, according to market sources.

Apax and TPG make 4.5 times money on TIM Hellas(2)

Apax Partners has completed its second lucrative exit in two weeks after selling TIM Hellas, the Greek mobile operator it co-owned with Texas Pacific Group, to Egyptian telecoms entrepreneur Naguib Sawiris.

Bain Capital in largest ever South African buyout(2)

US group Bain Capital has agreed a $3.5 billion deal for South African retailer Edgars Consolidated Stores, the largest buyout ever recorded in the country.

Music veteran leaves Elevation(2)

Les Bider has left his position as ‘executive-in-residence’ at upstart private equity firm Elevation Partners to become chief strategist at Los Angeles-based venture firm ITU.

Sequoia makes 44 times return on YouTube(2)

Google has revealed that its acquisition of YouTube last year netted a return of nearly $500 million for Sequoia Capital, the US venture capital firm behind the video sharing website.

Carlyle brings in North African specialist for MENA push(2)

The Carlyle Group has recruited North African specialist Hassan El-Khatib as a managing director to bolster its newly formed MENA team in Cairo.

Animated profits

As part of a flurry of recent investment activity, Finance Wales has put £600,000 in an animation company producing children’s programming. But with its aggressive strategy targeting new digital media, the company may be venturing into risky territory. Dave Keating reports.

Roberts: ‘We don’t believe there is a bubble’

Henry Kravis and George Roberts of KKR shared their thoughts on the current state of the private equity industry in a rare interview published today in The Wall Street Journal.

Origo recruits South African MD

Beijing-based private equity group Origo Sino-India has hired John Blake as managing director of mergers and acquisitions.