Matilda Battersby
Research released at EVCA’s Investors’ Forum in Geneva today reveals that despite negative returns in 2008, long-term IRRs remain robust. Comments from delegates, including Providence’s John Hahn and the Wellcome Trust’s Danny Truell, reflect an industry engaged in self-critical dialogue as it returns to its roots.
Both the US private equity and venture capital industries achieved negative IRRs for the quarter ending 30 September 2008, but venture capital outperformed private equity with the lesser of the two negative results.
The UK-listed private equity frim is reportedly considering a move into investing in debt instruments. Other firms which have recently moved to take advantage of credit opportunities include Providence Equity Partners and BC Partners.
Norwegian solar energy firm NorSun has raised NOK1.15bn in Series C funding for the expansion of its silicon ingot production lines. The financing was led by Swiss clean energy investor Good Energies which invested NOK250m.
Former Morgan Stanley veteran Dag Strømme has left Herkules Capital after just two years as a partner at the Nordic private equity firm.
The UK-based secondaries firm has hired Eric Pathé as an investment director just months after it appointed Matthew Arkinstall and Robert Savage.
The London-listed private equity giant is trying to sell some of its European venture capital portfolio in an attempt to reduce its debt load.
French mid-market buyout firm Banexi Capital Partners, which spun-out from BNP Paribas in 2003, has rebranded itself now that it is 100% owned by management.
The UK-based street advertising firm, acquired by Apax in 2003, has filed for administration, blaming poor market conditions and slashed advertising budgets. The firm’s administrator MCR is now seeking a trade buyer.
The Eastern European-focused private equity firm, formerly Deutsche Beteiligung-backed DBG Eastern Europe, has backed luxury pet product retailer Kakadu. The investment was made from its third fund, which is targeting a final close of €125m.