Western Europe

Palamon restructures management to aid growth plans

Michael Hoffman, the co-founder of European mid-market firm Palamon Capital Partners will move into the role of chairman at the firm leaving managing partner Louis Elson to take over day-to day activity. as the buyout group attempts to double in size.

3i invests in power station developer

3i’s investment in Advanced Power marks another deal in the busy oil and gas sector as buyout firms attempt to profit from the rising demand for energy.

Union chief calls for action on private equity

Trades Union Congress general secretary Brendan Barber has demanded the UK government act before a “speculative bubble” bursts.

Permira backs £358m conference company

Permira is buying Hayley Conference Centres through Principal Hotels for a total £358 million (€528 million; $711 million) as 3i exits from its 48.5% stake.

Deutsche Beteiligungs buys manufacturer for €300m

German buyout firm Deutsche Beteiligungs has bought Coperion Group and the buyout group intends to grow the company by improving its equipment and extending its services.

Chorus of PE tax critics grows

Two former US Treasury secretaries have joined the mounting criticism of carried interest’s tax treatment. ‘o one would want to defend’ GP carry tax status, Lawrence Summers said.

Rumours fly in TPG-BA bid for Iberia

Various groups are reported to be interested in bidding for Iberia, although a source close to the TPG-BA bid claimed the Iberia board’s delaying tactics are unlikely to lead to another offer.

Boots shareholders back KKR buyout

Shareholders in Alliance Boots have voted overwhelmingly in favour of Kohlberg Kravis Roberts’ £11.1 billion bid, despite continued complaints from trade union officials and trustees about the company’s pension deficit.

Scourge of APA’s Qantas bid quits UBS

Australian fund manager Paul Fiani, who was instrumental in the collapse of Airline Partners Australia’s bid for Qantas, has reportedly left UBS to set up on his own.

USS invests $200m in Partners Group

USS makes a $200 million (€149 million) investment in Partners Group’s new hedge fund of funds strategy that is being replicated by other large financial houses.