Western Europe

Esprit provides extra backing for Xanadu(2)

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

Saga staff get £280m payout(2)

The staff of UK-based Saga will receive a £280 million ($560 million, €416 million) payout following the company’s merger with the AA, a UK vehicle breakdown service. The chief executive of the newly formed group, Andrew Goodsell, plans to lead the company into the FTSE 100.

NBGI makes second big exit this week

UK firm NBGI Private Equity has completed a second lucrative exit in two days, this time via the public markets. The flotation of UK-based Superglass means the firm continues to reward investors in its 2000 vintage debut fund with big returns.

Terra Firma offloads 50% holding in German motorway service operator(2)

The UK firm has retained an interest in Tank and Rast Holding rather than selling it outright, after striking a deal to sell 50 percent to the infrastructure division of Deutsche Bank for a reported €1.2 billion.

Cinven pays €675m for second hospital operator in a month(3)

The European buyout firm has made its second foray in a month into the healthcare sector - this time to buy a Spanish independent healthcare provider - exploiting a rich vein of experience in the firm stretching back a decade.

LBO giants launch PR offensive in Germany

Hanns Ostmeier has stepped down from The Blackstone Group to chair the German Venture Capital Association’s new mega-buyout platform.

Innogest raises biggest ever Italy-focused seed fund(3)

Italian venture capital firm Innogest has overcome investor scepticism to close the biggest Italy-focused seed and early stage fund to date.

Bear Stearns hires new head of asset management(2)

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.

Greenpark strengthens team as it starts spending fund

A month after closing a €730 million fund, European secondaries specialist Greenpark Capital has bolstered its team with the appointment of two new investment directors and two internal promotions.

London VCs invest $8m in Daylife(3)

New York-based news aggregation site Daylife has raised $8 million from two UK venture capital firms, in the latest example of US start-ups taking funding from VCs based in London rather than Silicon Valley.