Weeks after Tyne & Wear started a similar process, the UK pension fund is to tender a mandate worth up to £15m to a private equity manager.
3G LAB picks up further funding from 3i; Mergermarket gets first round and valuation jump; Screentec moves out from Bayer’s shadow; ECI gets set to buy and build in UK dental health sector; 3G Idesta picks up E10m.
The UK’s 3i looks set to be the successful bidder for Germany’s leading sparkling wine producer, Mumm Sekt, which has been put up for sale by Seagram.
The brewer intends to go it alone.
SMI, Friends Ivory, SFKT, Merrill and Velvet show them the money.
AP Regus Investors and Serviced Office Investors sell their stakes in Regus, DB Ventures holds.
3i’s rating is lowered to Hold by UBS Warburg a month after being upgraded.
Hilton buys Ratos’s stake for cash and shares.
The fund will be invested in assets or as equity.
But Keith Breslauer said the shape of any bid “remains to be determined”.