Western Europe

FSA criticises private equity

The British Venture Capital Association has welcomed a report by UK regulator the Financial Services Authority, despite it pointing to market abuse, conflict of interest and overt leverage risks within the industry.

Truell consortium flips Threshers to Vision(3)

A consortium led by Edmund Truell has sold the operating businesses of UK retailers Threshers and BrightHouse to secondaries specialist Vision Capital, just two weeks after buying them. The £265 million sale will leave the consortium in control of the companies’ pension fund assets.

Cognetas finds recipe for success with Diana Ingredients

The European mid-market firm has made a return of 4.3 times its investment selling its food ingredients business to AXA Private Equity.

Minority shareholders biggest litigation threat

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.

Figures hint at venture comeback(2)

The venture capital industry seems to be profiting from the record levels of capital flowing into the private equity industry, even though its returns continue to lag behind the buyout funds. Jo Nash reports.

Industry on back foot over CGT taper relief

The UK parliament’s Treasury Committee has grilled representatives of the domestic private equity industry on tax and other issues, while listening to evidence from unionists, academics and a think tank.

Evans and Hunter raise £500m(2)

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.

Evans and Hunter raise £500m

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.

Tax changes would hit smaller firms hardest

Lyceum Capital chief executive Philip Buscombe has weighed into the row over the tax treatment of carried interest, suggesting that changes to the rules will affect the ability of smaller buyout and venture capital firms to attract talented managers from the corporate world.

Global Infrastructure Partners enters Asia(3)

Private equity infrastructure specialist Global Infrastructure Partners has opened an office in Hong Kong and appointed a new partner to lead its Asian investment activities.