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There has been a big leap in investor satisfaction with the transparency of GPs’ disclosures and communications, according to Coller Capital’s latest Global Private Equity Barometer. In the years following the Global Financial Crisis, only two in five LPs were satisfied with their GPs’ transparency. Four in five Limited Partners are satisfied today.
Many private equity investors believe rising geopolitical tensions will have a material effect on the asset allocation of private equity and venture capital funds in the next few years. And many also expect higher political risk in private equity’s emerging markets – especially Russia, China, the Middle
IQ Capital, a deep-tech venture capital firm based in Cambridge and London, has appointed Simon Hirtzel as General Partner.Hirtzel, alumnus of the University of Cambridge holding a degree in Natural Sciences, served as Chief Financial Officer at PA Consulting Group until 2007, then as Chief Operating Officer of Kreos Capital, Europe’s leading growth debt provider for high-growth companies. In his new role at IQ Capital, Hirtzel will focus on building LP relationships to further IQ’s ambitions of taking companies through their entire growth cycle, from seed to exit. Hirtzel brings to IQ his experience of managing operations, finance and compliance
Swappie, an end-to-end online marketplace for buying and selling refurbished smartphones, has raised a USD40.6 million (EUR35.8 million) Series B funding round. Participants in the round included TESI, alongside existing investors Lifeline Ventures, Reaktor Ventures, and Inventure – all of which participated in Swappie’s Series A in 2019 – bringing the total amount raised by Swappie to USD48 million (EUR42.5 million). The funding will be used to accelerate Swappie’s international expansion and to support the company’s rapid growth.
Swappie was co-founded in 2016 by Sami Marttinen (CEO) and Jiri Heinonen (CMO) with the simple mission of providing customers with a way to upgrade their phones
GreyLion Capital (GreyLion) has completed its spin out from Perella Weinberg Partners Capital Management (PWP). Established as part of Perella Weinberg Partners Asset Management business in 2012, GreyLion is now an independent, employee-owned investment firm, focusing on investing in a diversified portfolio of high-growth businesses in the middle market. Going forward, PWP will not have any role in GreyLion’s governance. Certain PWP employees and partners will continue as supportive limited partners in GreyLion-managed funds.
Chip Baird and David Ferguson will continue to lead GreyLion and will serve as the firm’s Managing Partners. All investment and certain related non-investment staff dedicated to
Consonance Capital Partners (CCP), a US healthcare focused private equity firm, has promoted Javier Starkand and Sean Breen Partner. Both joined CCP in 2012 and had previously worked with the Founders prior to CCP.Stephen McKenna, Managing Partner and Co-Founder of CCP, says: “We’re thrilled to recognise these two impressive individuals who have contributed substantially to the firm’s success.”
Benjamin Edmands, Managing Partner and Co-Founder, adds: “Javier and Sean joined our firm during its formation and have grown to take significant responsibility within the firm and provide great leadership. Steve and I and our other Managing Partners and Co-Founders, Nancy-Ann DeParle
The CEPRES Private Capital Market Outlook for the first quarter of 2020 using the latest data from the CEPRES Platform shows how buyout fundraising in the US declined by almost 50 per cent QoQ and 20 per cent YoY, but is still substantially above volumes during the post-GFC era of 2009 -2012. Buyout fundraising volume in Europe is in stark contrast with a sharp decline of over 70 per cent QoQ and YoY, making it the lowest quarter since late 2017.
US buyout fund net IRR returns declined sharply between 2003 and 2006, which were the vintage years immediately preceding the impending crisis
High Net Worth private investors are ready and willing to provide small and medium-sized British businesses (SMEs) with the financial support they will need as they recover from the impact of Covid-19, reveals research by Connection Capital, a specialist private client investment business.According to a survey among 233 Connection Capital clients with an estimated combined net worth of over GBP2 billion, nearly three-fifths (58 per cent) say they are interested in private equity as an investment strategy over the next 12 months, while almost a third (31 per cent) are interested in private debt.
Connection Capital says that previously successful
Fund+, an VC investment firm focused on innovative European Life Sciences companies, has added Luc Debruyne and Gérard Lamarche to its B hard of Directors. In accordance with the Company’s governance charter, Honorary Chairman Désiré Collen, Arnoud de Pret, Pierre Drion and Hilde Laga have stepped down from the Board following expiry of the term of their office. Désiré Collen, Honorary Chairman, will remain as a Board observer.
Chris Buyse, Managing Partner and Executive Board Member of Fund+, says: “We are delighted to welcome Luc Debruyne and Gérard Lamarche to the Board. Luc Debruyne brings outstanding scientific and commercialisation experience from
Ancala Partners (Ancala), an independent infrastructure investment manager, has agreed to buy Hector Rail AB (Hector Rail) from EQT, including its subsidiary Hector Rail GmbH, on behalf of its European Infrastructure Fund II. Completion on the transaction is expected in Q3 2020.
Hector Rail is the largest privately-owned rail freight operator in Scandinavia and one of the few running corridor traffic between Sweden and Germany. It is growing its presence in Germany, Europe’s largest freight market, where it focuses on attractive niche segments, such as energy and intermodal flows.
Founded in 2004, the company has over 100 locomotives and
Innova Capital, a private equity fund in Central and Eastern Europe, has promoted Magdalena Pasecka to the position of Partner. As Partner, Pasecka will continue to fulfil the role of Innova Capital’s CFO.
“I am proud to have earned the trust of the Innova Partners and to have received this promotion. In the new role – alongside my existing activities in fund operations and portfolio monitoring – I will spend more time on the strategic outlook for portfolio companies with the intention of focusing on value and return enhancement opportunities” – says Pasecka.
Pasecka joins Andrzej Bartos, Krzysztof Kulig and
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