Jenny Bollen

Intermediate Capital Group has held the first closing of its new fund at €650 million, while a six-month interim report shows record gains on investments of £93.3 million.

Wellcome Trust, an independent charity funding research into human and animal health, will increase spending by 17 percent following returns of 16 percent in the trust’s alternative investments portfolio for the last three years.

Europe’s biggest pension fund will make its first investments in private equity and real estate, following recommendations from Norges Bank regarding the investment strategy of the fund.

In the last two months four private equity funds have blown through their hard caps, which, Helix Associates’ Ian Simpson says, demonstrates general partners’ growing weakness to the smell of money.

Close Brothers Private Equity has made its eighth investment from its latest fund, through the management buyout of the assayers arm of commodity inspectors Alex Stewart.

The Bayer Group will sell H.C. Starck to equal investors Advent International and The Carlyle Group for €1.2 billion, helping to finance the acquisition of pharmaceutical company Schering.

Krokus Private Equity has held the first closing of its Nova Polonia Natexis II Private Equity Fund at €52 million, after an 18 month long deal hiatus.

ISIS Equity Partners has acquired a 25 percent stake in Crew Clothing Co in a £7.75 million fund raising, building on its investment in Wiggle, an on-line retailer of outdoor accessories.

3i and SEB Företagsinvest are selling Swedish vaccine distributor SBL Vaccines to Dutch biotechnology company Crucell for €39.4 million, generating an approximate 16 times return of the vendors’ investment.

ECI Partners has sold luxury holiday provider Kirker Travel in a deal that doubled its investment, netting a 22 per cent IRR over four years.