Western Europe

Gala makes 5x from utility stake sale

Gala Capital, the Spanish buyout firm which led a €3.7 billion offer for Spanish airline Iberia, has sold a stake in a domestic utility company Bridgepoint and Mercapital exited in 2006.

Permira doubles investment in charity fund(3)

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

Sovereign makes 5.7 return on care business sale(3)

UK mid-market firm Sovereign Capital has sold healthcare business Complete Group making a 5.7 times return on its investment and an internal rate of return of 51 percent over five years after a bolt-on investment earlier this year.

Alpha closes fund of funds on €309m(4)

Alpha Associates, the central and eastern European fund manager, has held the final close of its second fund, which is already 40 percent committed.

On a need to know basis(4)

There is no reason why private equity pay should be publicly disclosed, writes Private Equity International's Philip Borel.

Three Delta drops Sainsbury’s bid after Qatari talks(2)

Three Delta has withdrawn its bid for Sainsbury’s citing the problems in the credit markets and an equity increase demanded by the UK supermarket’s pension trustees.

Bridges buys recycling business(3)

Bridges Ventures, a venture capital firm focussed on regeneration and sustainability, has bought tyre recycling business Credential Environmental fulfilling both its aims.

HBoS buys stake in investor network(3)

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.

WEST MIDLANDS PENSION FUND

<p> WEST MIDLANDS PENSION FUND 2007-10-01 Staff Writer CONTACTSMs. Judy SaundersChief Investment OfficerWolverhampton,United KingdomMs. Carolyn WhiteInvestment Manager,Private EquityWolverhampton,United KingdomTel: +44 1902 552 089carolyn.white@wolverhampton.gov.uk&lt;italic&gt;Head office&lt;/italic&gt;Tel: +44</p>

Abraaj raises region’s largest ever fund, plans float(4)

Abraaj Capital, the Dubai-based investment firm led by Arif Naqvi, has held a record close on its infrastructure and growth capital fund as it mulls listing on the Dubai stock exchange DIFX.