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Private equity firm Permira has held the final close of its global private equity fund, Permira V, at the hard cap of EUR5.3 billion (USD7.2 billion).
The new fund will follow Permira's long-term investment strategy of identifying market-leading businesses that benefit from structural growth drivers and have significant potential to expand internationally.
Origination will continue to be led by the firm's five global sector teams – consumer, financial services, healthcare, industrials and TMT – with an emphasis on identifying proprietary opportunities.
Permira V has already committed capital to six growth companies. These investments include iconic footwear brand Dr.
Kingdom Holding Company (KHC) and Caisse des Dépôts International Capital (CDCIC) have signed a memorandum of understanding to establish an investment vehicle seeking to develop Saudi projects and ventures.
The KHC-CDCIC platform will help advance bilateral economic co-operation and trade and to facilitate access to long‐term capital in both countries by companies engaged in economic cooperation between Saudi Arabia and France.
To advance this partnership, a working group was formed, co-chaired by HRH Prince Al Waleed Bin Talal Bin Abdulaziz Al Saud, chairman of KHC and Laurent Vigier, CEO of CDCIC.
The partnership will seek attractive investments across
The EU has published MiFID II in the Official Journal (OJ) following more than two and a half years of consultation and negotiation.
Publication in the OJ sets the date on which MiFID II enters into force as 2 July 2014.
The rules enter into effect 30 months later, meaning that all EU firms undertaking investment business or providing investment services to clients must be fully compliant with MiFID II by 2 January 2017.
Crispian Lord, financial services risk and regulatory partner at PwC, says: “Although final detailed rules will not be available until the end of 2015,
Pamlico Capital and the management team of Clarity Telecom have entered into a definitive agreement to purchase broadband assets in Rapid City and Sioux Falls, South Dakota from WOW! Internet, Cable & Phone.
Post-close, the Clarity team will continue to provide high-speed broadband, video and voice services to more than 50,000 residential and commercial customers in South Dakota.
Pamlico initially partnered with Clarity’s management team in 2003 to build NewWave Communications, a rural broadband company that grew to serve 160,000 subscribers. After successfully exiting NewWave through transactions with Time Warner Cable (2011) and Rural Broadband Investments (2013), Pamlico partnered
Egyptian investment bank CI Capital Holding (CICH) and alternative asset manager Duet Group have launched the Duet-CIC Egypt Opportunities Fund to invest in the Egyptian economy.
The partners believe that Egypt will position itself as the region’s leading investment destination in the medium-to-long term and have agreed to launch a private equity fund with up to USD300 million of committed capital to invest in Egyptian businesses, injecting growth and buyout capital into the economy. The focus will be on consumer and consumer-related industries.
The alliance will provide an opportunity for international capital to participate alongside domestic investors and will
WHEB Partners, a private equity fund manager specialising in growth opportunities in energy and resource efficiency technology markets, has appointed Florian Strehle as its new Munich-based partner.
Strehle has eight years’ private equity experience, six of which were at AUCTUS Capital Partners, a German private equity fund manager where he was a member of the management board.
Before that he was at 3i Group where he was an associate in the firm’s technology investment team.
He also spent four years as a management consultant with McKinsey & Company.
Together with WHEB’s other two Munich-based partners, Jörg Sperling
Altium has appointed Oliver Vaughan as an assistant director in its London office.
He joins from Livingstone Partners where he was also an assistant director, having previously trained as a chartered accountant with Deloitte.
Vaughan is an experienced M&A practitioner with broad experience across various sectors, particularly industrials.
The appointment of Vaughan is part of Altium’s continued expansion of its London presence in response to increasing market activity and deal flow. Other recent recruits include Christopher Jones, who was hired as managing director at the end of 2013, and Octavia Wayne, who joined the team as an analyst in
The European Private Equity and Venture Capital Association (EVCA) has elected Anne Glover, chief executive and co-founder of Amadeus Capital Partners, to serve as its chairman for the year to June 2015.
She succeeds the 2013-2014 chairman George Anson of HarbourVest Partners, who will become EVCA´s immediate past-chairman.
“In the last 12 months the EVCA has continued to build on its strong foundation of proactive communications, notably through the update of the Professional Standards handbook, as well as expand its education programme,” says Anson. “I am confident that, under Anne´s leadership, the EVCA will continue this momentum and bring
The Goldman Sachs Group and Bain Capital Partners have agreed to pay a total USD121 million in settlement of Dahl v Bain Capital Partners, according to law firm Robins, Kaplan, Miller & Ciresi.
Bain has agreed to a settlement for USD54 million, and Goldman Sachs agreed to a USD67 million settlement, as two of seven defendants in the case.
Plaintiffs are former shareholders of certain public companies who sold their shares to the defendant private equity firms in large leveraged buyouts (LBOs) announced between 2003 and 2007.
In 2007, the defendants, all major US private equity firms, were
Quarton Partners, a middle market investment banking firm serving privately held and publicly traded companies as well as private equity firms, has hired Matt Schloop and Doug Shinkle.
Schloop joins Quarton as a director. He has over 14 years of middle market merger and acquisition experience across many industries, with a particular focus on industrial manufacturing, distribution and service businesses.
Prior to joining Quarton Partners, Schloop spent eight years with Pfingsten Partners, a Chicago-based private equity firm. Schloop also held positions at Mesirow Financial and P&M Corporate Finance prior to joining Pfingsten.
Shinkle joins Quarton as an analyst. Shinkle
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