Western Europe

Hands: Tax changes will only benefit UK’s competitors

Guy Hands, the outspoken chief executive of Terra Firma, has hit out once again in defence of private equity’s tax treatment, highlighting the taxes paid by his firm and arguing that any changes would only benefit continental Europe.

Committee critics ignore local buyout successes(2)

Some members of the UK Treasury Select Committee who have fiercely criticised private equity may be disregarding the industry’s successes on their own doorsteps. PEO offers a briefing note on some of the cases the MPs may have missed.

Evans and Hunter raise £500m(3)

Tom Hunter has backed Chris Evans’s venture capital company Merlin Biosciences, to take on larger deals beyond its customary start-up market. The fundraising comes as Evans is under investigation by Scotland Yard for his involvement in the cash-for-honours inquiry.

Doughty Hanson in £100m dispute(2)

Bruce Roe, one of the original members of Doughty Hanson, is reportedly suing the UK-based buyout firm and its two founders because he believes accountant Price Waterhouse Coopers has undervalued his shares by £95 million.

Committee critics ignore local buyout successes

Some members of the UK Treasury Select Committee who have fiercely criticised private equity may be disregarding the industry’s successes on their own doorsteps. PEO offers a briefing note on some of the cases the MPs may have missed.

EVCA: Industry thriving across the board(3)

Record amounts of funds were raised and invested in European private equity in 2006, according to pan-European trade body EVCA, with even the venture segment showing signs of a comeback.

ECP sees 3x return on African bank exit(3)

Washington DC-based Emerging Capital Partners has completed the latest of a series of profitable exits from its pioneering African investment program.

The web’s second coming

The energy at Library House’s Essential Web Forum this week in London reflected the excitement UK entrepreneurs and VCs are feeling following the Last.fm sale. But will web 2.0 solve its monetisation conundrum? Dave Keating reports.

Pensions expert defends Electra

A leading pensions expert has defended London-listed Electra Private Equity, after the listed trust became the latest target for activist trade unions following a reduction in pension benefits for ex-employees of its portfolio company Lil-lets.

Benchmark Europe spins out of US parent(3)

US venture firm Benchmark Capital’s European division is spinning out of its parent. The new firm, which has been operating largely independently for some time, will be called Balderton Capital.