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Nearly 50 per cent of divestments in the UK over the past two years were driven by a need for a quick cash injection rather than to achieve a longer term strategic objective, according to a report from Ernst & Young.
The 2012 Global Corporate Divestment Survey reveals that respondents’ rationale for a divestment is often focused on short-term financial motives rather than the longer term strategic benefit of the business.
Seven out of ten respondents say the main factor that determines whether a business stays within a company portfolio or not are short term financial measures. For example, whether
M&A activity in emerging Europe last year was hampered by the drawn-out debt crisis in the Eurozone, political turmoil in some states and tough austerity plans introduced by local governments, according to a report from CMS and Emerging Markets Information Service (EMIS) DealWatch.
According to Emerging Europe: M&A Report 2012, the number of M&A transactions in emerging European countries in 2012 neared 2,265, an almost 40 per cent decrease in year-on-year terms.
The total value of M&A deals went down as well amounting to EUR121bn, with fewer mega-ticket deals than in the year before. Rosneft’s acquisition of TNK-BP, Russia’s largest-ever
The Beekman Group has held the final closing of Beekman Investment Partners II at USD100m in equity commitments.
"We are pleased to have raised USD100m in the current environment and to have surpassed our debut fund by over 40 per cent" says John G Troiano, founder and managing partner of The Beekman Group. "We credit our focused strategy, top quartile returns, and experienced investment team for this and appreciate the strong support from our existing limited partners and from our new investors.”
Beekman’s second fund had 90 per cent re-commitment from its first fund investors and includes a group of
The Abu Dhabi Investment Authority (ADIA) has appointed Gregory Eckersley as global head of internal equities, effective immediately.
Eckersley will be responsible, alongside senior management, for developing and implementing investment strategy for the internal equities department, as well as overseeing the activities of all internally-managed portfolios. His role will also include oversight of risk management and due diligence processes.
Based in Abu Dhabi, Eckersley will report to Mohamed Darwish Al Khoori, executive director of the internal equities department.
Eckersley joins ADIA after a long career in the financial sector that includes 16 years at AllianceBernstein. From 2006 until his departure
Addleshaw Goddard is increasing its City-based private equity capability with the appointment from Linklaters of Ben Rodham.
The hire is the latest in a string of targeted London-based investments by the firm as it builds additional capability and specialist expertise across key disciplines and chosen markets.
Rodham’s principal area of focus is advising private equity firms and other financial sponsors across all forms of leveraged M&A, disposals, restructurings and portfolio company issues. He has worked with a number of well known investors including Bridgepoint, Carlyle, Global Infrastructure Partners, Hg Capital, Montagu, PAI and Terra Firma.
Rodham has extensive experience
LNK Partners, a private equity firm focused on the consumer/retail sector, has appointed Patrick J Boroian as a partner focused on business development.
Boroian (pictured) has more than 20 years of private equity investment experience. Prior to joining LNK, he spent more than 10 years as a partner at Brockway Moran & Partners, where he led the firm’s business development activities.
Before joining Brockway Moran, he served as a general partner at Donaldson, Lufkin & Jenrette’s venture capital affiliate, the Sprout Group, and as a managing director at DLJ Merchant Banking Partners.
Boroian started his private equity career at Odyssey
Highland Consumer Fund, the venture capital fund led by Staples founder Tom Stemberg, has appointed Peter Cornetta as partner.
He will focus on investing in growth-oriented companies with proven business models and working with existing portfolio companies to best position them for successful exits.
Cornetta (pictured) has spent the last ten years in mergers and acquisitions leading investments in consumer sectors, media, healthcare services and manufacturing. As a managing director at HIG since 2003, he has been involved in all aspects of the investment process from investment origination, transaction negotiation, and execution of post-closing development. Prior to joining HIG Capital, he
Horizon Care, a provider of specialist care and education to children with severe and complex needs, backed by NBGI Private Equity, has completed the acquisition of Educare Adolescent Services.
Educare, which is also based in the Midlands, works closely with local authority commissioners to deliver care and education to children aged between 11 and 18 in attractive, homely residences located near to their family’s origin.
Following the acquisition, Horizon Care comprises 34 homes and seven schools. The investment adds to Horizon Care’s existing services in Staffordshire, Greater Manchester and Kent, providing a presence in Shropshire and Leicestershire, as well as
The Abraaj Group, a private equity investor operating in global growth markets, has exited its investment in Vejthani, selling its stake to the South East Asian healthcare chain KPJ Healthcare.
This was the second successful exit in the last six months for the Abraaj in the rapidly expanding private healthcare sector.
The Abraaj Group has a portfolio of nine hospitals around the world, including in India, the Philippines, Kenya and Nigeria.
The Abraaj Group acquired its stake in Vejthani in 2009. The investment was designed to capture increased demand within Thailand for international standards of medical treatment, as well as
Munich-based venture capital firm Target Partners has made a EUR2m investment in Finanzchef24, Germany’s first financial services portal using a direct marketing model to target small businesses and self-employed individuals.
With its proprietary technology for comparing commercial insurance and banking products, Finanzchef24 has focused the launch around business liability insurance, business content insurance, and bank accounts for businesses, with more products to follow over the coming months.
“The service we offer is geared towards small business owners that do not have their own finance director and therefore search online for financial products, just like private individuals,” says Hendrik Rennert, co-founder
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