Western Europe

3i buys $57m stake in hedge fund administrator

3i’s US arm has bought a stake in a Bermuda-based hedge fund administrator, in the latest move in an active year for the firm.

Credit Suisse spin-out in $1.1bn ice deal

GSO Capital Partners will add the largest ice manufacturer in the US to its diverse portfolio.

Standard Life raises a total of £760m(3)

The UK insurer’s private equity fund of funds products comfortably exceeded their targets, untroubled by departure of Jonny Maxwell, who left the business last year after trying to win its independence.

Buyout execs escape committee’s ire(3)

After last week’s mauling, the private equity industry gave a solid account of itself at the latest evidence session of the UK Parliament’s investigation, welcoming the Treasury’s review of the tax regime, but warning of consequences if the UK became less competitive.

Lehman launches fund of funds IPO(2)

The US investment bank with $18 billion in unlisted investments, is the latest private equity operator looking to take advantage of the private equity boom by creating a permanent capital vehicle.

Graphite makes 4.2x return on Go Plant exit

UK mid-market firm Graphite Capital has sold Go Plant, a vehicle hire business, to Easternrange. The sale has generated a return of 4.2 times Graphite’s original investment.

Union boss sees wife elected Labour deputy leader(2)

Harriet Harman, the wife of trade union boss Jack Dromey, has been elected deputy leader of the UK Labour Party, just days after her husband led the criticism of the private equity industry at a government enquiry.

Linklaters poaches Freshfields partner

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.

Lyceum exits nurseries business(2)

Mid-market private equity firm Lyceum Capital has completed a successful exit from UK nurseries business Asquith, after boosting earnings by 200 percent and increasing the workforce by more than half.

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

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.