Suzanne Weinstock
The Brazilian private equity firm fell slightly short of its fundraising target, but is ‘bullish’ on its ‘perfect timing’ for acquiring companies at low valuations.
The Carl Marks & Co affiliate, which specialises in government-related companies, has exited its 2004 investment in data services company 3001 International to defense and technology company Northrop Grumman.
Fisker Automotive has raised $65m from the Qatar Investment Authority, Kleiner Perkins Caufield & Byers and Palo Alto Investors. The capital will support the development of the company’s four-door, plug-in hybrid sports car.
Laredo Petroleum, launched in 2007 with the backing of Warburg Pincus, has acquired 50,000 acres of natural gas-rich land in Oklahoma.
The former president of Gap-owned US apparel company Old Navy, Jenny Ming, has joined the global buyout firm as an operating partner. She will focus on apparel retail companies such as existing Advent portfolio companies Gérard Darel and lululemon athletica.
The buyout firm and portfolio company Hexion have begun court proceedings in an attempt to abandon the $10.6bn purchase of chemical manufacturer Huntsman citing a material adverse effect. Yesterday, an offer of nearly $1bn from investors in order to close the transaction was declined by Hexion.
The technology-focused affiliate of venture firm Accel Partners and mega-buyout firm Kohlberg Kravis Roberts has closed its third fund with commitments from all existing limited partners.
Magnesita, a company backed by Brazilian private equity firms GP Investments and Gavea, will buy Rhone Capital's LWB Refractories in a deal including €277m in equity.
Interim president and chief executive of the Canadian pension manager, Richard Guay, will officially assume the positions he stepped into last May in addition to his responsibilities as chief investment officer.
The AIG Brazil Special Situations Fund II will put in place a team to pursue investments in Colombia and Peru before the end of the year. Separately, the fund has invested R$60 million in Brazilian engineering services company Advento Participações.