Western Europe

On a need to know basis

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

GLG is raising a $250m debt fund(4)

European hedge fund GLG Partners has joined the groups of buyout firms and banks which are raising funds to buy leveraged buyout debt.

Catalyst closes $170m funds below target(2)

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

Cognetas off the mark in Milan

The buyout of vending machine business Gruppo Argenta by Cognetas and Investitori Associati marks the former’s first Italian deal since launching a Milan office in September 2006.

BVCA warns of dire consequences of tax change(4)

The UK Treasury has been advised by the BVCA, in its submission for this year’s pre budget report, not to make changes to private equity taxation because any adjustment could have “dire consequences”.

A law with few friends(2)

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.

Spectrum invests $300m in genealogy company

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.

Darwin hits half-way milestone with £122m(3)

Darwin Private Equity has held a second close of its debut fund just three months after launching with the backing of City grandee Lord Jacob Rothschild and his RIT Capital Partners trust.

ECI recruits investor relations manager from hedge fund

ECI Partners, the UK mid-market firm, has recruited investor relations manager Jeremy Lytle, who had a similar role at hedge fund FM Capital Management.

Buyout bosses escape unscathed(3)

The third hearing of the UK Treasury Select Committee saw four more buyout chiefs attempt to justify the industry’s tax and legal treatment to a group of MPs. In a noticeably less hostile environment, the four men presented a largely united front.