Western Europe

Walker outlines plans for greater transparency(2)

Sir David Walker, the man who has been tasked with improving transparency in UK private equity, has defended his independent status to the Treasury Select Committee and outlined some of the specific guidelines he intends to recommend to the industry.

AIGGIG hires in Japan

Former Deutsche pro Stewart Homler will lead AIG’s expansion in the Japanese alternative investments market.

Blackstone to pay less than 1% of IPO to lawyers and accountants(3)

The Blackstone Group is paying the lawyers and accountants working on its IPO under 1 percent of the total funds raised. The US buyout firm is also paying bankers slightly over half the usual aggregate fee they would usually receive on such a deal.

Lyceum completes eighth bolt-on for National Britannia(3)

Lyceum Capital had made an eighth bolt-on acquisition for National Britannia Group, a health and safety consultancy, as the industry looks set to become a £1 billion market in the UK by 2010.

CD&R sells Brakes to Bain for £1.3bn(2)

US buyout firm Bain Capital has won the race to buy Brake Bros, a UK food distribution business, from Clayton Dubilier & Rice, in a deal thought to be worth about £1.3 billion.

Dexia holds second close of infrastructure fund

Belgian bank Dexia has held a second close of its southern European infrastructure fund on €120 million.

Hands defends carry tax(2)

Guy Hands, chief executive of Terra Firma and one of the UK private equity industry’s most forthright advocates, has defended the current tax treatment of carried interest. He believes it is right to distinguish it from other types of remuneration, since it rewards “long-term capital investment” by buyout executives.

Minority shareholders biggest litigation threat(2)

Almost half of all private equity firms in a new survey expect litigation to increase in the next two years. But the major threat is unlikely to come from regulators, as most firms seem to think.

Esprit Capital Partners leads €15m Kiadis funding round(3)

Kiadis Pharma, the biotech company backed by European venture capital firm Esprit Capital Partners, has raised €15 million in its latest funding round.

Linklaters poaches Freshfields partner(2)

Leading law firm Linklaters has hired Brian Gray from rival law firm Freshfields Bruckhaus Deringer, as it looks to strengthen its offering to private equity clients.