Western Europe

Busier than ever

Dedicated secondary buyers are flat out, with billion dollar portfolio disposals being arranged by leading LPs such as CalPERS. At the same time, buyers are beginning to seriously contemplate what an end to the private equity boom might mean for them. Philip Borel reports.

HBoS eyes European expansion via restructuring(2)

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.

Spectrum invests $300m in genealogy company(3)

Spectrum Equity Investors will acquire a majority stake in The Generations Network, a company the firm has backed since 2003. The investment deepens Spectrum’s holdings in the online media sector.

Morgan hires Metalmark, Allianz GPs(3)

After three years at Morgan Stanley spin-out Metalmark, Eric Fry has been appointed partner at the investment bank’s new private equity arm. Meanwhile, Morgan Stanley Private Equity’s London team has hired former Allianz Capital pro Michael Hehn.

Hg makes 5x from cosmetics facelift

After reorientating Sanctuary Spa Covent Garden into a product focussed business in two years Hg Capital sold the company for £75 million.

Alpha closes fund of funds on €309m(2)

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

EVCA criticism of Walker report could lead to “benchmark” status(3)

EVCA, the European trade body, has argued the UK private equity industry’s attempt at self-regulation, the Walker report, should address its reservations in order to become a “European benchmark”.

23 firms sign up to Walker, BVCA monitoring group appointed

Compliance with the Walker report has pushed some publicity-shy buyout firms into the spotlight.

Mid-market activity belies mega deal plunge(4)

The value of leveraged buyouts in Europe in quarter three fell by more than two-thirds while providing evidence that the mid-market continues to be an active source of deals.

IK buys roof repair business

The European buyout firm has bought into a part of the construction industry it believes is counter cyclical driven by regulations compelling people to fix their roofs.