Clare Burrows

UK-based Matrix and alternative asset manager Foresight Group have generated a 32x return on their investment in software company App-DNA, which was spun-out from one of its other portfolio companies.

Financial services group Northern Trust is bolstering its private equity operations and has created a new alternative assets unit headed by former director of private equity, Robert Morgan.

Apax Partners has invested in a new clothing label backed by fashion designer Karl Lagerfeld (pictured). The investment is reportedly ‘substantial’.

Financial development institution CDC is the anchor investor in a new fund dedicated to India’s eight poorest states. The Pragati Venture and Incubator Fund is the first ever to concentrate on the country’s poorest areas.

Earnings growth has the greatest impact on private equity returns, with leverage playing a relatively insignificant role, according to a new study by the Technical University of Munich.

Bain is set to buy Japanese restaurant chain Skylark in the country’s biggest buyout for two years. CVC Asia Pacific in 2009 reportedly gave up its stake in Skylark so as not to have to repay debt related to the 2006 MBO it led for the same company.

Despite wide-spread fears of closing debt markets in Europe, one official speaking at the EVCA conference in Budapest this week said lending is available for private equity deals, especially for those firms that have strong relationships with financial institutions.

LPs and GPs urged people to focus on the micro opportunities in Europe’s mid-market during the EVCA Mid-Market Forum in Budapest, whilst criticising political leaders for the way they have handled the economic crisis.

The private equity arm of asset manager Duet Group and private equity firm TLG are to complete their first joint deal next week, according to a source close to the firm. Just last week the two revealed they were combining their private equity activities.

David Rubenstein, co-founder of The Carlyle Group, said GPs are spending an increasing amount of time fundraising and less doing deals.