Oliver Smiddy

Just days after launching the European operation of its credit arm, HIG Capital has bolstered the team of its distressed debt and special situations-focused affiliate Bayside Capital in London.

Electra Partners has acquired a £30m portfolio of debt instruments from an unnamed international bank, as firms with flexible strategies look for deal exposure using means other than straight equity.

Two sovereign wealth funds, GIC and KIA, and a third unnamed fund have acquired a 10% stake in CVC Capital Partners in a deal which will see them given preferential access to deals as well as a share of management fees and carried interest.

GMT Communications Partners’ third fund is 75% invested after its recent maritime training deal, with a new €350m fund set to be launched in the next few months.

HIG Capital has launched a European operation of its fledgling credit arm, HIG WhiteHorse, in a further sign that private equity groups are looking to tap into the market for private debt.

Having made two investments earlier this month, private debt fund manager Metric Capital Partners is preparing to close a trio of deals as appetite for new sources of capital grows.

French private equity group Idinvest, formerly the in-house arm of investment bank Allianz, has held a €100m first close on its new secondaries fund.

AXA Private Equity has acquired a minority stake in production line designer and supplier Fives Group in a deal valued at more than €800 million.

London-listed 3i Group drastically reduced the amount of new investments it made in Q2 compared to a year earlier as the business instead focused on cost-cutting.

The European industry association has announced a raft of appointments, including that of HarbourVest managing director Anson to chairman-elect.