Western Europe

A law with few friends(3)

Germany’s coalition government is working on a law for private equity. A number of drafts have been published, but no one seems satisfied, writes editorial director Philip Borel.

AAC Capital Partners steps out of ABN AMRO's shadow(2)

The Dutch bank captive arm has put the seal on its independence with a new name for a tried and tested strategy. Under its new moniker, the firm has €1.8bn of fresh capital to invest.

MidOcean sells water parks to Candover for $330m(3)

Private equity firm MidOcean Partners has sold its Palace Entertainment portfolio to European amusement park operator Parques Reunidos, a Candor portfolio company, for $330 million.

Actis hires ex-GIC executive as China head(4)

Actis, the emerging market buyout investor, has hired Lim Meng Ann, a former China-based GIC Special Investment executive to head its China operations. Lim replaces Chin Bay Chong, who left Actis at the start of the year.

Catalyst closes $170m funds below target(3)

Catalyst Investors has closed its second buyout fund and a UK co-investment vehicle on $170 million, below their initial target of $250 million.

Abraaj raises region’s largest ever fund, plans float

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.

JC Flowers recruits Myners for Northern Rock bid

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.

Candover withdraws its offer for Stork(2)

The UK buyout firm has brought to an end the long-running take-private battle for industrial group Stork and withdrawn its offer, though it is continuing talks.

Marfin profits up six times(3)

The newly independent Marfin Investment Group has followed its €5 billion fundraising success with strong first half results, although its figures were strengthened by the sale of its banking assets to its former parent.

CCMP on the road with $3.5bn fund(3)

The former buyout arm of JP Morgan is in the process of raising a global fund, its first as an independent entity, which reports suggest could target as much as $3.5 billion.