Western Europe

Keniston-Cooper returns to buyouts at Morgan Stanley

US bank Morgan Stanley has appointed Graham Keniston-Cooper European private equity head, as the buyout firm veteran returns a year after Lazard pulled the plug on his private equity unit.

Sainsbury board keeps Three Delta waiting

Three Delta continues to seek access to the books of UK supermarket Sainsbury’s, as difficulties in the credit markets look certain to affect the price of the £6 billion of debt needed for the offer.

ECI bolts on wireless company to Aerial with eye to £200m exit(2)

UK buyout firm ECI has bolted on underground wireless networking company Avitec to Aerial, as it looks to exit the combined company in six to 12 months.

Barclays sells Direct to LDC

Lloyds Development Capital has bought Direct Group, a UK provider of insurance services, from Barclays Private Equity.

Wellcome Trust backs $52m venture funding

UK charity Wellcome Trust has made a rare direct investment in a $52 million seventh-round financing for Xtera Communications, a US optical networking and services company.

Brooks joins Monument

Pioneer investor relations executive Janet Brooks is leaving ECI after 15 years to join the European operations of US placement firm Monument Group

3i adult carer exit has 61% IRR(2)

FTSE 100 listed 3i had a 61 percent IRR and a 3.9 money multiple on the sale to Three Delta of a company it first invested in 10 years ago, Care Principles.

Duke Street and Europa in unusual property tie-up(2)

The pair have forged an unusual private equity, property firm partnership to buy a listed Channel Islands group that controls five separate consumer and leisure businesses.

Stirling Square Capital Partners sells Schoeller Arca Systems for €428m(2)

The European buyout firm is exiting its Dutch packaging business in a secondary sale to One Equity Partners.

The CBI backs review of carry tax egged on by unions

Buyout firms came under fire again at the meeting of UK unionists at the TUC, while business lobby group the Confederation for British Industry, led by Richard Lambert, endorsed calls for a wide-ranging examination of the industry’s tax treatment.