Western Europe

Refco creditors sue TH Lee for $1bn(2)

In the latest twist in the Refco saga, the company’s creditors have filed a $1 billion lawsuit against TH Lee, its founder and three executives, alleging they covered up Refco’s myriad problems, which eventually sunk the company and resulted in criminal charges for its CEO. TH Lee has issued a scathing response, calling the claims ‘misdirected and entirely without merit’.

Investment mix pays dividends(2)

Yesterday’s sale of the Bold Pub Company was the latest in a string of successful deals in the leisure sector for Close Ventures, one of the UK’s longest-established venture capital trust managers. James Taylor met managing director Patrick Reeve.

Debt financing holds firm for mid-market

CIT Capital Finance has delivered financing for the Rutland Partners-led acquisition of Pulse Home Products while Electra Private Equity has carried out a third refinancing on Allflex.

Pantheon and Nova pick up laboratory group for £75m

Pantheon Ventures and secondary investor Nova have bought the scientific laboratory business of Barloworld as it looks to grow the business overseas.

Ex-Bloomingdale’s chief starts fashion-focussed firm(2)

Former Bloomingdale’s head Marvin Traub has launched a designer-focussed private equity firm that recently made its first investment in UK fashion label Matthew Williamson.

Venture firms back NZ-based biotech company(2)

New Zealand-based biotechnology company CoDa Therapeutics has raised $20 million of venture capital funding. It is the latest example of increased venture appetite for biotech companies in the region.

SVG recruits marketing and corporate finance directors

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.

Marel pressures Candover Stork bid(3)

Icelandic food processing group Marel has upped its stake in Dutch conglomerate Stork placing pressure on UK buyout firm Candover’s accepted bid.

The emerging trend is your friend

As established private equity markets slow in the wake of the credit crunch, global firms are looking further afield and local emerging market managers know this is no flash in the pan, Nicholas Lockley writes.

Kennet provides first venture backing for wireless chip provider(3)

Dutch wireless audio company STS has had its first ever venture backing from Kennet Partners, as companies in the wireless space continue to attract venture funding.