Western Europe

CDC invests $30m in microfinance(2)

CDC, the UK government-backed emerging markets fund of funds, has nearly quadrupled its allocations to microfinance - the provision of small loans to entrepreneurs in developing nations.

Gresham recruits from Deloitte(2)

Gresham has recruited James Slipper from Deloitte as a partner, after working with the accountant on a number of deals.

ICG hires management head(2)

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.

Pension funds expect 11% returns from the asset class(3)

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.

Merrill Lynch wins dentist auction

The global bank’s private equity arm has bought a UK dentist, reportedly seeing off competition from rival firms including Blackstone and Bridgepoint.

HBoS buys stake in investor network(4)

After six months of negotiation Pi Capital, a high net worth investor network, has sold a stake in itself to Bank of Scotland’s growth equity team to increase the deal flow for its members.

DIC picks up Almatis, UBS underwrites $1bn(3)

Dubai International Capital, the Middle Eastern investment firm, has bought Almatis in a secondary deal, with loans at more than six times EBITDA provided by Swiss bank UBS.

Isis makes 3x money bolstering national security(4)

Isis Equity Partners, the UK mid-market buyout firm, has sold secure messaging company Boldon James to trade buyer Qinetiq, after securing contracts for the company with the UK Ministry of Defence and the UK Cabinet office.

JC Flowers recruits Myners for Northern Rock bid(3)

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.

Kaupthing acquires data provider for £72.5m(2)

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