Western Europe

Sainsbury’s considers Qatari £500m equity increase

Qatari investment arm Three Delta is likely to increase the equity component of its offer for FTSE 100-listed Sainsbury’s to meet concerns of the board that the company will be over-leveraged.

Carlyle in record €1.5bn Spanish deal(3)

The Carlyle Group’s planned acquisition of Barcelona-based inspection services company Applus will be one of the largest private equity investment in Spain to date.

Close Ventures invests in software start-up(3)

VCT manager Close Ventures has invested £1.5 million in UK software company Process Systems Enterprise.

Hands set to take EMI

Guy Hands’ company Terra Firma has nearly reached the necessary shareholder acceptance rate in its bid for EMI, as reports in the Chinese media suggest the buyout firm may sell the business on to Chinese mobile company China Mobile Corporation.

IQ backs mobile exchange business(3)

IQ Capital, a UK government-backed venture fund, has made a third investment since its launch last year, backing mobile telecoms business OnRelay.

Darwin hits half-way milestone with £122m

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.

Behrman makes 3.6x return on research labs

New York- and San Francisco-based Behrman Capital has sold WIL Research Laboratories for $500 million, earning a 3.6x return.

Maxwell back in business at Allianz(3)

Jonny Maxwell, one of Europe’s best-liked fund of fund managers, has resurfaced to spearhead German insurance giant Allianz’ continued growth of its indirect private equity investment business.

Bank of Scotland buys LDC’s stake in property business

Lloyds TSB Development Capital has sold its minority stake in UK property business Apollo Group to the Bank of Scotland.

Bain and Prides Capital to invest $60m in Princeton Review(3)

Close on the heels of Apax’s $8 billion May buyout of The Thomson Corporation’s higher education division, Bain Capital Ventures and Prides Capital have agreed to invest $60 million in test prep company The Princeton Review.