James Taylor

Leading advisers to private equity are beginning to come out in support of the industry, following a wave of recent criticism.

The example of the AA, where buyout firm Permira has actually improved the level of disclosure since taking the company private, suggests that the latest transparency initiative may not solve the industry’s woes.

Nikko Principal Investments has sold UK firm RoadChef to an Israeli real estate group for £375 million. Nikko had owned the motorway service station chain for nearly ten years.

UK private equity targets Alliance Boots and Sainsbury’s were in defiant mood as they reported their latest trading results, as they try to ignore the growing speculation about possible bids.

Leading advisers to private equity are beginning to come out in support of the industry, following a wave of recent criticism.

The example of the AA, where buyout firm Permira has actually improved the level of disclosure since taking the company private, suggests that the latest transparency initiative may not solve the industry’s woes.

Nikko Principal Investments has sold UK firm RoadChef to an Israeli real estate group for £375 million. Nikko had owned the motorway service station chain for nearly ten years.

The UK trade body has launched a working group, to be chaired by City grandee Sir David Walker, which will look at how the industry can become more transparent. The initiative has been backed by most of the UK’s biggest buyout firms.

Ed Balls, a key ally of UK Chancellor Gordon Brown, has played down fears over the role of private equity in the UK economy, but encouraged calls for greater transparency.

An increased appetite for emerging markets – particularly China and India – saw investors pour record sums into private equity funds targeting these regions last year.