Western Europe

Halyard to net 12x return on secondary sale to VSS

VSS has agreed to pay $185 million for direct marketing company TRANZACT, generating for its owner, Halyard Capital, a return of 12 times its investment and an 85 percent IRR.

GP Investments matches Latin American fund record

The quoted Latin American firm GP Investments has closed its fourth fund on $1.3bn with partners in the firm contributing almost a third of the capital to equal Advent International's record breaking Latin offering.

Milestone makes it six for 2007(3)

Milestone Capital Partners has made yet another exit, with the £70 million sale of hotel business The Eton Collection to rival group JJW Luxury Collection.

CCMP on the road with $3.5bn fund

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.

Arcapita exits wind farm in second deal this week

Prudential M&G’s infrastructure arm Infracapital Partners and an unnamed group advised by JP Morgan Asset Management have bought a one third stake in wind farm Zephyr Investments from Arcapita Bank, in the Bahrain-based investor’s second deal this week.

Helix nabs Rivett from Credit Suisse

Helix Associates, the private equity placement agent division of Jefferies Investment Bank, has hired the former co-head of Credit Suisse’s Private Fund Group, Robert Rivett, as well as Stephen Gray, former managing director at corporate advisory firm Henniker River Advisors.

Buyout bosses escape unscathed

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.

Kennet provides first venture backing for wireless chip provider(2)

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.

Icelandic group to trump Candover’s Stork bid

UK buyout firm Candover is faced with a rival bid for the industrial group Stork from Icelandic investor group LME, which holds a blocking stake in the company.

Macquarie consortium in $7.4bn US utility deal

Puget Sound Energy, Washington state’s largest utility company, will be taken private in a $7.4 billion transaction by a consortium including Macquarie, the Canada Pension Plan Investment Board and British Columbia Investment Management Corporation.