Matthieu Favas
The UK lender is in discussions to divest its buyout arm, the latest effort by a major bank to adjust to leaner times by refocusing on its core operations.
The flotation plans, due to value the property group at up to €11bn, come amid rising expectations that the UK firm will return to the fundraising trail later this year.
Fewer firms plan to raise capital this year, according to fresh research, which also found that nearly half of them plan to offer deal-by-deal fund structures this year.
The mid-market firm’s takeover of Trustmarque, bought from UK-based LDC, comes as it nears a final close for its latest vehicle.
Ten year private equity returns have nearly doubled those of pension assets and public markets, according to a survey, with 2002 and 2004 allegedly the best vintages of the post-dotcom bubble era.
MIR Capital, a buyout fund jointly created last year by Gazprombank and Intesa Sanpaolo, aims to deploy €300m within the next five years.
The succession plans, laid out as PAI raises a €3bn fund, will see the firm’s investment head take on the top role halfway through the vehicle’s investment period.
The London listing, which values the insurance group at £1.54bn, will bring more than £300m in proceeds to the UK private equity firm.
The UK lender has hired former Lyceum Capital executive Grant Davidson as it targets the dearth of lenders for lower mid-market private equity businesses.
The German forklift giant is planning a listing this summer, which could value the company at up to €5bn.