Philip Borel

Infratil-backed Energy Developments has rejected the private equity firm’s offer as too low, but said it will not impede a similar 'off-market' takeover bid.

Infratil-backed Energy Developments has rejected the private equity firm’s offer as too low, but said it will not impede a similar 'off-market' takeover bid.

As Indian private equity regroups, KKR is quietly confident about its prospects in the country – whatever the sceptics say.

The proposed £225m take-private of UK specialist life company Just Retirement will take Permira’s current fund to just under 60 percent invested. The deal is being led by James Fraser.

Internet traffic is growing rapidly, and so is the need to store data in safe, reliable places. A UK-based fund manager is pursuing an investment strategy based on the trend. Philip Borel reports

Natural resources and black economic empowerment enterprises are providing the firm rich opportunities in Africa, Michael Cohen told delegates at the PEI Africa Forum in London today.

The bank, which is currently assisting with fundraising for groups including MBK Partners, Alinda Capital and Citadel, has decided to wind down its private equity fund placement arm by year end. Two of its executives have already been hired by Credit Suisse as part of its asset management division's global expansion.

The buyout industry has been incapable of ‘using leverage sensibly’ and must support restrictions on excess LBO debt, argued Hugh MacArthur, global head of Bain & Co’s private equity practice. He was joined at PEI's Middle East Forum by Delta Private Equity's Patricia Cloherty, who noted ‘cheap debt is simply seductive, and everyone is complicit on the upside’.

The future of big buyout funds may be uncertain – but they haven’t gone the way of the dotcom venture funds yet, writes Philip Borel.

Investors in Permira’s Fund IV have been given the option to limit their capital contribution to 60% of the amount they originally committed to the €11.1bn fund.