Clare Burrows

Against a backdrop of sovereign debt fears, the private equity industry gathered in London on Thursday for the British Private Equity and Venture Capital Association’s annual summit at the Landmark Hotel.

Private equity firm Ares Capital and the Canada Pension Plan Investment Board are to acquire discount retail chain 99 Cents Only in a deal valued at $1.6bn.

Private equity group Augur Capital has raised €212m for its second European mid-market fund, short of its original target but almost double the size of its previous vehicle.

Sameer Al Ansari (pictured), CEO of investment bank SHUAA Capital, has resigned. The event comes only a few months after it lost its head of private equity, Anis Bibi.

A court ruling today which found global investment firm Lone Star guilty of stock price manipulation could pave the way for the US group to finally offload its stake in Korea Exchange Bank. The firm has been fined and its former head of the region, Paul Yoo, jailed for three years, according to media reports.

Emerging markets private equity investor Actis has acquired South African vehicle tracking business for $434m, according to the firm. It is its first investment in the crime sector.

LDC, the private equity division of Lloyds Banking Group, has continued its prolific deal spree having sealed its eleventh investment this year, and is on track to surpass last year’s total.

Both fund managers and investors see the lack of quality investments as the biggest challenge to private equity over the next 12 to 18 months, according to the second part of a global survey by fund administrator SEI.

Julian Carreras, who left Palamon Capital Partners in 2006, has re-joined after stints at Cinven and Thesan Capital, as the firm looks to bolster its Spanish coverage.

UK finance development institution CDC has committed $20m to one of the largest agri-business private equity funds in Africa. CDC hopes the move stimulates fundraising in the sector.