Western Europe

SVG’s value rises on Permira exits(4)

SVG, the London-based fund manager, increased its net asset value per share on the back of several realisations by UK buyout firm Permira in whose funds the majority of its capital is committed.

Mid-East, South Asia distressed fund raises $120m

Dubai-based distressed specialist HBG Holdings has held a second close on $120 million for its Middle East and South Asia-focussed fund. It is expected to close this year with commitments ‘north of $200 million’, more than double its initial target.

UK buyout boom over

Latest numbers from CMBOR confirm the third quarter marked a high point for UK buyouts as fourth quarter figures show an 80% decline without a transaction of the scale of Alliance Boots.

Triple hire for SVG(3)

The London-based fund of funds manager has added to its fund selection teams in London and Boston.

Ferguson defends tax rules on loans(3)

The chairman of UK private equity investor SVG Capital says changes to the tax deductibility on interest payments on leveraged loans would be damaging to private equity funds and their investors.

Conduit earns 4.9x on Mexican power plants

Conduit Capital Partners has sold three hydroelectric power plants in Mexico, the firm’s second successful exit this year from its 1999 vintage fund.

Vultures are preparing to feast

Hedge fund managers are rubbing their hands at the prospect of a rapid increase in loan-to-own opportunities as covenant breaches are predicted to rise, according to the latest research.

Blackstone makes first investment in China(2)

The Blackstone Group has taken a minority stake in a subsidiary of the state-owned China National Chemical Corporation, as it continues to build relations with the Chinese government.

SVB Capital adds two partners(3)

SVB Capital has hired John Dominguez of Hill Capital Management and Vincent Williams of Northern Trust Global Investments to expand its private equity programme.

Carlyle bulks up financial services team(3)

US buyout firm The Carlyle Group has expanded its financial services team with a string of high profile appointments, after closing a real estate and a European fund last week.