Western Europe

University startup fund aims for record target

A new fund backed by venture capital group MTI, targeting a record £150m, will aim to back university spin-outs in the hope of potentially unearthing another Facebook or Yahoo, both of which owed their genesis to ideas formed at university.

Cogent hires founder of NJ Capital Advisors

The appointment of Niklas Johansson as a senior advisor in London comes after a series of high-level departures at the private equity-focused investment bank.

CalSTRS prepares for customised accounts

The pension system, with $144.8bn in assets, is altering its private equity investment policy to allow for investments in separately managed accounts, a model that appears to be gaining popularity among large institutions.

Losses plague JC Flowers’ second fund

Investments in MF Global, Shinsei, Hypo Real Estate and Nordbank will likely leave LPs in JC Flowers’ $7bn Fund II with losses.

Private equity haven in the economic storm

With funding options declining in other parts of the world, a small but growing private equity community has emerged in Monaco, where government policies have opened competition, writes Zsolt Lavotha.

Ex-Cofunds boss joins private equity start-up

Brett Williams, former CEO of Cofunds and Skandia UK, will be one of four founding partners at Lime Tree Investment Partners, an offshoot of Future Capital Partners.

New Jersey reaps $575m on secondary sales

The $69bn state pension has sold stakes in funds run by GTCR, Apollo, Carlyle, Oaktree, TPG, Wayzata, Black Diamond Capital Management, Credit Suisse and THL as it works to shrink the size of its portfolio to make it more manageable.

Bolstering the ranks: recent people moves

It’s been a busy start to the year for private equity firms on the recruiting front, with firms including Equistone, Palamon and TA Associates hiring or promoting internally. Private Equity International rounds up the latest people moves.

Freshfields launches multi-strategy group

The law firm has launched a ‘fully integrated offering’ for private equity, infrastructure, sovereign wealth and so-called ‘alternative capital providers’, acknowledging that the strategies of many global investors have converged.

Newly-incentivised Quilvest pledges to double AUM

Quilvest Private Equity’s parent, Quilvest Group, has agreed to management participating in the equity structure of the group for the first time as it begins raising its next generation of fund of funds.