Western Europe

JP Morgan chief lays into equity bridges(2)

Jamie Dimon of JP Morgan has hit out at the proliferation of equity bridge facilities used on large buyout deals, suggesting that they are not good for the lending banks or the private equity sponsors.

Apax makes 40x return on healthcare exit(3)

The global buyout firm has netted a return of more than 40 times its original investment from the sale of Healthcare at Home.

Qatari firm makes £12bn Sainsbury’s approach(3)

Qatar-based investment vehicle Three Delta has confirmed its preliminary bid approach to Sainsbury’s, the UK supermarket chain that rejected a £10 billion offer from a private equity consortium in April. The company’s share price soared this morning.

Lyceum buy and build nets early exit

Business services specialist Lyceum Capital has sold health and safety company National Britannia Group after two and a half years to asset manager Connaught. Jeremy Hand, managing partner, said there was considerable interest.

ECB bails out struggling markets

The European Central Bank has injected almost €95 billion into the money markets in an attempt to boost liquidity, amid growing fears of a credit crunch.

EVCA hits out at Treasury probe(2)

The pan-European trade body has urged caution after the UK Treasury Select Committee suggested private equity needed closer scrutiny. EVCA has taken the unusual step of wading into a national row because it believes any changes could have far-reaching consequences for the industry across Europe.

3i North Asia head quits

The UK-based private equity group has lost 20-year veteran Jamie Paton, head of its Hong Kong office and the man charged with leading the firm’s investment activity in North Asia.

Walker report vodcast highlights

3i's chief executive Philip Yea, BVCA chairman Wol Kolade, Duke Street Capital's Peter Taylor and others discuss with Sir David Walker the implications of his report on transparency, webcast in partnership with The Daily Telegraph and law firm SJ Berwin.

Great Circle buys $21.1m stake in Russian logistics firm

Stamford, Connecticut-based Great Circle has made its second investment in Russia with the injection of $21.1 million of growth capital into logistics company STS Logistics.

Virgin Media bids to come in September

The Virgin Media auction will come later than expected as problems in the debt markets have constrained leverage available to buyout firms.