Western Europe

Truell says government promised taper relief was permanent(4)

The former chairman of the BVCA Edmund Truell has claimed the government has reneged on its promise not to “snatch away” the taper relief on capital gains tax at 10 percent then Chancellor of the Exchequer Gordon Brown introduced in 1997.

Bush administration to veto carry tax bill(4)

The White House has indicated that, if passed by the US Senate, it would veto a bill passed today by the House of Representatives. Cerberus Capital Management’s John Snow has also attacked the bill, which aims to raise revenue with measures including increasing the tax on carry.

GP Investments to take 50% stake in Brazilian pharma company(2)

The Brazilian private equity firm will invest $136 million in Laboratório Americano de Farmacoterapia, a Brazilian pharmaceutical company.

Clessidra invests in Welsh renewables

The Italian buyout firm headed by Claudio Sposito, the former chief executive of Fininvest, Silvio Berlusconi’s holding company, has made its first investment outside Italy.

Lion Capital goes camping with Belgian retailer(4)

The buyout firm is hoping to transfer its success with women’s shoes and lingerie retailers into the outdoor equipment and clothing market with its purchase of AS Adventure.

Hands growls at mega buyout demise(3)

Terra Firma founder and former banker Guy Hands has said bankers are “whimpering dogs”, who will need to be enticed from their baskets after the credit crunch.

Hicks launches PE firm(3)

In the latest stage of his very busy retirement, Tom Hicks has made a formal return to private equity with the launch of Dallas-based Hicks Equity Partners and the hiring of three managing directors for the firm.

Iberia financing nearly in place(2)

The TPG Capital-BA consortium has secured a team of banks to underwrite its bid for Spanish airline Iberia, after the chief executive of the UK airline Willie Walsh said the bid would be tabled within four to six weeks.

New Venture Partners opens Silicon Valley office(4)

Lucent Technologies spin-out New Venture Partners will bring its corporate technology spin-out model to Silicon Valley, a move enabled by the addition of former Intel research director David Tennenhouse.

ICG hires management head(4)

Intermediate Capital Group, the UK debt investor and fund manager, has recruited for its CDO and institutional mandate team. It is looking to widen its trading expertise with a recruit to its leveraged loans team.