North America

Former KEMA director to head Blackstone fundraising advisory

The private equity firm has hired Tom Kelly, a former KEMA Partners managing director, to head a new initiative providing fundraising services to a range of different businesses.

Capital Trust raises $100m for MENA fund

The alternative investment firm will close its third MENA-focused private equity fund 'in two weeks'. The fund will invest in Algeria, Egypt, Jordan, Lebanon, Morocco, Palestine, Syria and Tunisia.

New York State Common bans all placement agents

The state’s comptroller, Thomas DiNapoli, has banned the use of placement agents in investments with the $122bn pension, and has launched a review of pension investments with firms involved in the New York Common kick-back scandal.

Japanese government endorses private equity-backed bank merger

Japan’s finance and economics minister has publicly stated his support for a proposed merger between the Aozora and Shinsei banks, in which the government holds significant stakes.

Yorkville appoints senior advisor for Japan

Yorkville Advisors, which formally opened its first Asian office last month, has appointed Katsutomo Fujimoto as senior advisor for Japan.

Mubadala writes down Carlyle stake by 36%

The Abu Dhabi investment fund’s annual report reveals it has written down its 7.5% stake in Carlyle’s management company, which would value the private equity firm at roughly $12.7bn.

RREEF terminates stake in Aldus

Deutsche Bank's alternative asset management business RREEF bought a 'significant minority' stake in Aldus in 2007, at a time when Aldus founding partner Saul Meyer considered backing out of an arrangement in which his firm was allegedly paying illegal kick-back fees.

LACERS, New Mexico draft placement fee disclosure policies

As a kick-back scandal involving several public pensions grows in the US, LACERS is the latest pension to draft a disclosure policy for placement agents and other third-party marketers.

Primus and ex-Citi exec launch Asian financial services firm

The co-founders of Primus Pacific Partners and an ex-Citi exec have launched Primus Financial Holdings, a ‘successor organisation' with $1bn in permanent capital, to Hong Kong-based firm Primus.

China works to draft rules for domestic LPs

In an effort to encourage private equity and venture firms to establish funds based in RMB, the Chinese government is drafting rules and regulations that would allow various types of institutions in China to become investors in private equity funds.