Matthieu Favas
Matthieu Favas is the editor of Agri Investor. He was previously the web editor of Infrastructure Investor, where he started in 2013 after a year as a reporter at Private Equity International. Prior to joining PEI he spent four years in the wine industry in London, Spain and Mongolia.
The secondary buyout, which gives Montagu a 2x exit, is the fifth deal made by the firm’s recently closed €5.3bn fund.
The East African firm, which is investing its first blind pool vehicle, is looking to sponsor fast-growing businesses in the continent’s less trodden markets.
Buyout firms operating in the hexagon have generated a 10.7 percent IRR over the last 10 years – better than all major European countries and above the United States average, new research found.
The French equipment maker, bought by the firm for €900m in 2005, is seeking to renegotiate the terms of its €600m debt burden.
The three high-profile appointments, which include the president of China Investment Corporation and the CEO of Qatar Investment Authority, come as Russia’s sovereign wealth fund continues to forge partnerships with international institutions to source co-investment opportunities.
The volume of private equity acquisitions fell in the first half of 2013 – but easier financing and more appetite for large deals should lead to a pickup in activity in the second half, according to law firm Allen & Overy.
More than two years after seizing control of music group EMI, Citi has sold the company’s pension fund to Pension Insurance Corporation, marking the UK’s largest ever pension insurance buyout.
The US firm will become the education provider’s third private equity owner, in a deal understood to be worth £400m.
Investment trusts outperformed other listed assets during the first half of 2013 – and maturing portfolios and corporate activity should further shrink discounts to NAV, says broker Numis Securities.
Private equity accounted for a higher proportion of assets managed by alternatives specialists last year, according to a new survey, with Goldman Sachs, Blackstone and TPG leading the way.