Western Europe

Preparing for the inevitable

Registration as an investment advisor: your clients will demand it; Congress may soon require it. Here's what you should be doing now. By Robert Rabinowitz of Becker & Poliakoff

Bailouts and buyouts

LDC's prolific deal rate has raised questions about the use of bailout cash – and, more broadly, about the merits of private equity, writes Andy Thomson.

Study: Leverage accounts for one-third of returns

As buyout firms adapt to a low-leverage investment climate, research suggests that debt has never been the dominant driver of private equity returns.

General Atlantic invests $150m in IT company

Quality Technology Services, founded in 2005, has expanded its data center real estate to 2 million square feet.

OMERS moves to reduce external GPs

The pension’s goal is for 80% of its private equity programme to be in direct investments, according to CEO Paul Renaud. Currently 35% comprises direct deals.

Wellcome to raise concerns on Directive

The CIO of the £13bn Wellcome Trust will advise the UK government on the ‘unintended consequences’ of the proposed Directive.

TCW spends £84m for UK wind farm stakes

The US asset manager has bought a 50% stake in three UK wind farms owned by Centrica, the parent company of British Gas.

Deutsche buys Oppenheim FoF group

The financial giant has agreed to buy Luxembourg-based banking group Sal. Oppenheim for about €1bn in a deal that will include Oppenheim’s private equity fund of funds group.

ECB joins anti-EU directive bandwagon

The European Central Bank has become the latest influential group to raise concerns over negative consequences that proposed regulations could have on Europe’s private equity industry.

TPG checks out of Debenhams with £500m profit

The £96m exit marks the end of a turbulent relationship between the retailer and its consortium of private equity owners.