Western Europe

Heavyweights weigh in on PE(3)

Private equity dominated discussions in the US this week, as high-ranking government officials, superstar investors and senior executives commented on the building tax controversy confronting the industry, as well as the longevity of the so-called buyout boom.

Esprit provides extra backing for Xanadu(3)

The European venture firm has increased its investment in Xanadu Wireless, a Dutch semiconductor business that is looking to revolutionise the wireless sensor market.

Paul Capital adds to new co-investment team

Paul Capital Investments has added former GE Asset Management VP Dan Townsend to its growing ranks.

SVG closes £70m public equities fund

SVG Capital has had the final close of its latest public equity investment fund, after its last fund delivered an IRR of 46 percent to investors.

Duke Street clinches CI Traders take-private(2)

Duke Street Capital and a consortium of other buyout firms has had its £260 million bid for UK retailer CI Traders accepted – soon after the company rejected a bid from Alchemy Partners.

Bear Stearns hires new head of asset management(3)

Jeffrey Lane will replace Richard Marin as head of Bear’s asset management division, which encompasses the investment bank’s private equity arm as well as its newly established placement agent division.

BT pension affirms commitment to buyouts(2)

Hermes Private Equity has secured a £300m commitment for a new direct private equity fund from the BT Pension Scheme.

BofA, Oak Hill in complex $1.9bn Euronext venture(3)

Bank of America, Oak Hill, along with CalPERS and Harvard have created a unique, megafund-sized pool of permanent capital to be traded on the Euronext. The vehicle, Conversus Capital, is structured like a collateralised loan obligation with private equity fund interests as the underlying assets.

Argos Soditic finally exits stake in DPAM

The French buyout firm has brought to an end its nine-year majority ownership of Paris-listed children’s retailer Du Pareil Au Même, selling its stake through a private placement.

Apax: Tax furore threatens UK’s primacy(2)

A report by Apax Partners has found the UK to be the most favourable environment in Europe for private equity investment. However, the buyout firm warned that any changes to the tax regime could knock the UK off the top spot and redirect investment into other territories.