Western Europe

LPX launches UK-listed PE index(2)

LPX, a private equity data provider, has published an index of the largest liquid UK investment vehicles. LPX’s Michel Degosciu said the listed private equity returns shown by the index will encourage more firms to embrace transparency.

Lion looks to private bidders for Wagamama(2)

Lion Capital, the European buyout firm, has called off a planned listing for Japanese restaurant chain Wagamama because a trade sale will fetch a better price as it looks to exit after two years ownership.

Schwarzman: economic change driving fear of private equity

Blackstone chairman and co-founder Stephen Schwarzman has spoken out in the industry’s defence, championing private equity as “a force for good”.

Investors flock to Wendel’s €1bn float of consultancy(2)

Wendel, the French investment company, has partially floated industry standards consultancy Bureau Veritas, although it retains a majority stake. The float was ten times oversubscribed.

Darling ups UK tax on carry to 18%(4)

Alistair Darling, the UK Chancellor of the Exchequer, has scrapped taper relief, the tax treatment that allowed private equity executives to pay as little as 10 percent on capital gains. Tax experts condemned the move.

Saudi prince backs $500m Zephyr fund(3)

Zephyr Management has quadrupled its African fundraising efforts. The fund has a $250 million cornerstone investment from Saudi Arabian listed firm Kingdom Holding, led by prince Alwaleed bin Talal bin Abdulaziz Alsaud.

SVG recruits marketing and corporate finance directors(2)

SVG Capital, the UK fund of funds, has hired James Witter (pictured) and Sharad Rathke as directors after making a trio of appointments last month.

Cinven secures bolt-on for hospital group

LGV Capital, the UK mid-market buyout firm, has exited the hospital group it bought from BUPA in 2005. Rival Cinven is reuniting the hospitals with a larger group it acquired from the UK private healthcare insurer.

How’s your health?(2)

As buyout firms attempt to vaccinate themselves against the numerous viruses floating around the financial system, are they wise to be investing in healthcare, asks Andy Thomson.

GA promotes management worldwide(4)

General Atlantic, the global growth equity firm, has continued its Asia push with three promotions to managing director in the region while also advancing staff in its US and Europe offices.