Western Europe

Pension funds expect 11% returns from the asset class(4)

Pension funds anticipate private equity returns over the next three years to be 38 percent lower than managers’ expectations. However, pension funds’ desire to invest in the asset class remains high.

BC club wins battle for Turkish retailer

The BC Partners-led consortium has pulled off its YTL3.9 billion bid for Migros Türk in the face of strong competition including The Blackstone Group and Kohlberg Kravis Roberts. It is Europe’s largest deal since credit markets seized up.

Three Delta returns to QIA for £500m equity in Sainsbury’s bid(3)

Specialist acquisition firm Three Delta’s bid for Sainsbury’s awaits an 8 November deadline as its talks with the supermarket’s pension trustees near completion.

IDFC Private Equity leads $100m investment in India’s Moser Baer(2)

India’s IDFC Private Equity is leading a consortium of Singapore’s GIC Special Investments and the UK’s CDC Group to invest $100 million in the country’s largest optical storage media manufacturer Moser Baer.

JC Flowers recruits Myners for Northern Rock bid(4)

JC Flowers, the financial services firm, has recruited a heavyweight team in its takeover bid for troubled UK bank Northern Rock. Paul Myners, Flowers’ choice for chairman, has temporarily stepped down from his role at the Bank of England to avoid a conflict of interest.

Warburg Pincus holds $9bn first close(3)

The global private equity firm is well on its way to a target of $12 billion for its tenth fund.

HarbourVest fleshes plans for $828m fund listing(2)

In a bid to woo investors, global fund of funds manager HarbourVest Partners has chosen a fee-free structure and is picking up the expenses for the fund offering, which will list next month 90 percent committed.

HBoS eyes European expansion via restructuring(3)

HBoS, the UK bank, has restructured its acquisition finance and structured finance teams into one leveraged finance unit as it looks to expand its European operations.

Kaupthing acquires data provider for £72.5m(3)

Kaupthing Bank’s private equity arm has bought lifestyle data provider DLG and will pursue a buy and build strategy for the company.

Permira doubles investment in charity fund(4)

The buyout firm has committed €2m, fundraising expertise and executive support to Breakthrough, the social enterprise support group it co-founded in 2005.