Robert Venes

Three groups led by Terra Firma Capital Partners, UBS and Macquarie are understood to have made formal offers in the auction for Thames Water, a UK water company owned by German utility RWE.

Lovells is rebuilding its London private equity practice with the hire of two partners following the departure of private equity head Marco Compagnoni earlier this year.

Nine funds have raised $1.5 billion in the MENA region in the first half of 2006, compared to $5.8 billion in total for the period between 1994 and 2005.

Kendall Court Capital Partners has closed its maiden mezzanine fund on $90m, with commitments from CDC, Citigroup Venture Capital International and TIF Ventures.

Industri Kapital, a pan-European mid-market firm, has sold its 4.5 percent stake in Sweden’s Oriflame Cosmetics, an investment from its €750m 1997 fund.

The level of debt being placed on private equity-backed companies through recapitalisations could undermine their credit ratings, says a new report.

Hermes Private Equity has followed buyout firms Permira, Cinven and BC Partners into the European gaming, or gambling, sector. Robert Venes reports.

HgCapital has partnered with management to make a 180 pence per share offer for SHL Group, a psychometric assessement company for business clients including Tesco, Citibank and Trinity Mirror.

Vision Capital, a secondary direct firm, has acquired a portfolio including three nuclear consultancy businesses and a rail infrastructure specialist for £76.4m.

Investec, a minority shareholder in Signet Group, a UK jewellery retailer currently being stalked by two private equity firms, has said in a letter that the firm could achieve private equity-style benefits by remaining a public company.