Matilda Battersby
Senior management changes at 3i are set to continue as Tory policy maker Sarah Hogg plans to retire in December 2010.
The value of deals in the Continental European buyout market has hit a seven year low. Research for 2008 shows it is down 60% from the €108.2bn-worth of deals done in 2007, due largely to the scarcity of debt and disappearance of mega-deals.
The French mid-market private equity firm has hired former Finama Private Equity investment officer Jacques Rossignol and former French government investment manager Xavier Payet. The additions bring its investment team to 13.
Florida-headquartered Sun Capital Partners has disbanded its Tokyo office making 8 redundancies following a decision to move away from platform opportunities in Asia. The company will retain its one Japanese portfolio company, gelatine dessert maker Tarami.
Carlyle wants to inject £25m into IMO Carwash, while TPG reportedly has offered to write a €60m equity cheque for UK chemicals company Vita. The actions are meant to trigger debt write-downs from portfolio company creditors.
The nascent New York-based fund of funds has committed $5m to Element Capital's second cleantech fund, which has raised $490m. Solution Capital is raising $200m for its first fund of funds; in December it held an $11m first close with GP commitments.
Last year the firm raised $10bn for two tandem real estate and distressed investment funds. This year it aims to double the dry powder with two similarly inclined vehicles.
BNP Paribas’s alternative assets arm will take a minority stake in the management company of Northern Lights Ventures and will also commit to one of its funds. The two have teamed to buy stakes in institutional asset managers.
The Danish fund of funds manager’s fourth fund has hit its target size. While it will remain open to for further commitments, the firm doesn’t expect the fund to hit its €800m hard cap, given current fundraising climate.
Paris-headquartered AXA Private Equity has formed a partnership with Italian industrial firm Tozzi Group to invest in Italian wind farms, hydroelectric and solar projects. AXA hopes to capitalise on the renewable energy sector which infrastructure head Mathias Burghardt says has a 'bright future'.