Western Europe

Walker outlines plans for greater transparency

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.

Advent bolsters life sciences team(3)

London-based Advent Venture Partners has expanded its life sciences team with the recruitment of two new partners – both former biotech entrepreneurs.

Sovereign completes latest Kinetics bolt-on(2)

Sovereign Capital has continued its buy-and-build strategy for Kinetics Group, the maintenance business it created earlier this year, with the £7.25 million bolt-on acquisition of gas maintenance company TA Horn.

Blackstone to pay less than 1% of IPO to lawyers and accountants(2)

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.

Cinven wins £1.44bn BUPA hospital auction

UK private healthcare group BUPA has sold its hospital arm to European buyout firm Cinven. The healthcare company exited the business because of regulation which prevented it from expanding its portfolio.

Private equity still attractive to FTSE CEOs

Many FTSE 100 chief executives are considering a move into private equity, either as operating partners, advisers or individual investors, despite misgivings about the industry’s short-termism and excessive leverage.

Innogest raises biggest ever Italy-focused seed fund(2)

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

Brown promises to keep City competitive

The UK prime minister in waiting promised his continued support for the City of London, the heart of the UK financial services industry, and appointed Permira’s managing partner as an advisor.

CVC hauled before Treasury following AA criticism(2)

CVC Capital Partners has become the latest private equity firm to be called before the UK Treasury Select Committee, which is due to meet for a third time next Tuesday to discuss the industry. The summons comes in the wake of its controversial ownership of the AA, which this week completed a £6 billion merger with Saga.

3i makes 4x return after HSS turnaround(3)

3i has reaped the rewards of a successful turnaround at tool hire business HSS, after selling the business for £310 million. The buying consortium comprises Archie Norman’s investment vehicle and Och-Ziff, a hedge fund with a history of encroaching on the buyout space.