Graham Winfrey

3i, Terra Firma and KPS lead the charge of operators in PEI's 2013 Operational Excellence Awards - along with nine others, including second-time winners Headland Capital and Nordic Capital.

The investment comes as Avista seeks $2bn for its third fund and Nordic targets €3bn for its Fund VIII.

Private equity fundraising stood at roughly $269bn at the end of the third quarter - with the UK particularly buoyant - and looks set to record its highest annual total since the financial crisis.

TCW has acquired socially responsible investment firm Craton Equity Partners, which is targeting $400m for its Fund II.

The sale of emerging markets-focused CVCI leaves Citi with an uncertain future in private equity.

The firm’s acquisition of cloud-based software company ACTIVE Network represents a 111% premium to ACTIVE’s average closing price so far this year.

The mid-market firm plans to invest $450m alongside Douglas Bergeron, CEO of former GTCR portfolio company VeriFone, to acquire financial technology companies.

The Nordic private equity market is ripe with secondary opportunities thanks to a strong macroeconomic environment and outperforming GPs, says managing partner at Cubera Jørgen Kjærnes.

Roughly 10 years after acquiring GROHE, a maker of luxury bathroom fittings, TPG and Credit Suisse will sell the company to Japan’s Lixil, marking the largest ever investment in Germany by a Japanese company.

The $40bn retirement system committed $400m to private equity during the first six months of 2013, and is working to increase its allocation to the asset class from 6.2% to 10%.