Toby Lewis
Exponent Private Equity has bought handbag company Radley from Phoenix Equity Partners, which exited the company after slightly more than a year and a half having “made it feel like an entirely different business”.
The ex-Morgan Stanley chairman presented his proposals to the UK Treasury Select Committee, dismissing concerns his suggestion that firms submit anonymous attribution analysis provided firms with “a cloak of anonymity”.
Norton Rose, the global law firm, has opened an office in Saudi Arabia in association with Middle Eastern law firm Abdulaziz Al-Assaf combining Norton Rose’s regional corporate experience with its rival’s political exposure in the region.
The UK government has signalled it will not change plans to introduce a flat rate of capital gains tax despite widespread criticism of the reforms. Tomorrow, the Treasury Select Committee re-opens its investigation of private equity.
Abraaj Capital, the Middle Eastern firm, has recruited a senior regional investment banker as its fundraising drive continues.
Turkish mid-market buyout firm Actera has raised the largest fund in the country from investors including sovereign wealth fund GIC and Canadian pension fund Ontario Teachers’ Pension Plan.
The former Goldman Sachs financier Christopher Flowers’ firm has decided not to change his offer in the face of an intransigent Northern Rock board. Olivant's bid will allow existing shareholders to take part.
Graphite Capital, the UK mid-market firm, has bought recruitment outsourcing firm Alexander Mann Solutions as it looks to grow the company internationally and by product range.
Trade buyer H Bauer scooped the consumer magazine and radio business divisions of Emap at an 11.2 times profit multiple for £1.14 billion, leaving buyout firms empty-handed.
Global fund of funds HarbourVest Partners has completed its first public offering, as it attracted $300 million of fresh investments, while $530 million of existing investors transferred their assets, despite problems in the worldwide markets.