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Brand identity is seen as ever more critical by those within the private equity industry, according to research from BackBay Communications, a strategic financial services branding, marketing and public relations firm, and PitchBook, an independent research firm providing data and analysis to the private equity industry.
The study, Private Equity Brand Equity II, surveyed 256 private equity professionals, limited partners, investment bankers, intermediaries, lawyers and consultants serving the private equity industry in the US and Europe concerning their attitude and approach to branding. The study found that 99% of those questioned viewed a private equity firm’s brand as directly linked
Some 291 secondary buyouts worth USD60.4bn have been announced in 2011 to date, surpassing 2010 figure in both volume and value. Transaction type has doubled market share since 2008, and the surge in secondary buyouts is likely to continue apace, with 48% of GPs expecting the number of such transactions to increase going forward, the latest Preqin research reveals.
The findings come as the number and volume of post-Lehman secondary buyouts almost reach levels seen during the buyout boom of 2006-2007. Q3 2011 was one of the strongest quarters for secondary buyouts since 2007, surpassed only by Q2 2011 and
NB Private Equity Partners has released its Interim Management Statement for the period ending 30 September 2011 and announced a revised net asset value (NAV) estimate for 31 October 2011.
As of 30 September 2011, the unaudited NAV per share was USD10.54, which represents an increase of 1.5% compared to the audited NAV per share of USD10.38 at 31 December 2010.
During the first nine months of 2011, the firm’s private equity portfolio generated realised gains of USD29.5 million. The portfolio also had net unrealised losses of USD13.7 million from privately held investments, credit-related fund investments and public equity securities.
Medtronic and Bain Capital have entered into a definitive agreement under which affiliates of Bain Capital will acquire Physio-Control, a leading provider of emergency medical response technology for use in the intervention and treatment of cardio-respiratory and other medical emergencies.
The stock of Physio-Control and related entities will be purchased for cash in a transaction valued at approximately USD487 million. Medtronic expects to use a portion of the proceeds to offset any potential dilutive impact from this transaction to fiscal year 2012 non-GAAP earnings per share.
Headquartered in Redmond, Washington, Physio-Control is the global leader in professional emergency response products
Biocartis has completed a EUR 71 million (USD 100 million) Series C equity fund raising backed by existing investors, new investors and industrial collaborators and partners.
Investors in the round were Debiopharm Group, Philips, Johnson & Johnson Development Corporation (JJDC), the Wellcome Trust, Korys (investment holding of the Colruyt family), Valiance, Biovest, the family office of Dr Paul Janssen, IHL SA (Luc Verelst), PMV, New Rhein Healthcare, certain members of the Biocartis senior management team and the family office of founder Rudi Pauwels (Benaruca).
Rudi Pauwels, the founder and CEO of Biocartis, says: “Completing one of the largest life science
Forbion Capital Partners has invested in Oxyrane UK Limited, a biopharmaceutical company dedicated to the development of enzyme replacement therapies (ERT) to treat lysosomal storage diseases, a class of more than forty rare inherited diseases.
In its oversubscribed Series D financing round the company raised USD26.5m. Other investors in the round include Morningside Groups and existing investor New Science Ventures. On behalf of Forbion Sander Slootweg (Forbion Capital Partners) has joined the board of Oxyrane next to Dr. Gerald Chan of Morningside Group.
The current fundraising will enable Oxyrane to advance its lead ERT treatment for Pompe disease from
Dutchess Opportunity Cayman Fund, Ltd and First Columbus have provided a GBP10 million equity line facility (ELF) with Solo Oil.
All companies, including energy companies like Solo, have found the benefits of the ELF over other structures because the efficiency and ease to raise capital. Dutchess continues to increase its presence in global markets providing funding for all types of companies.
Douglas Leighton (pictured), managing partner of Dutchess, says: “We are pleased to have been chosen by Solo to be the provider of this ELF. The ELF will give the company the flexibility to raise funds when the management deems it
ESMA has published its final advice (ESMA/2011/379) on the detailed rules underlying the Alternative Investment Fund Managers Directive (AIFMD). The rules proposed by ESMA will establish a comprehensive framework for alternative investment funds, their managers and depositaries.
They are also designed to help achieve the AIFMD’s objective of increased transparency and tackling systemic risk, ultimately contributing to a more sound protection of investors. ESMA’s advice follows a 2010 request by the Com-mission, originally sent to ESMA’s predecessor, CESR, asking ESMA to deliver its final advice by 16 November 2011.
Steven Maijoor (pictured), Chair of ESMA, says: “The AIFMD was a
Accel Partners has announced the closing of Accel India III, a USD155 million fund for seed and early stage investments in India.
The fund has attracted top tier institutional investors from North America, Europe and Asia, and will focus on opportunities in Internet services, digital media, SaaS and enterprise technologies, mobile, healthcare and education, and other high-growth sectors. Accel currently has 34 portfolio companies in India.
"Accel appreciates the support for this fund from our greatly valued and longstanding investors. Our core strategy in India will continue to be the same: to be the first investment partner of choice for
The private equity group HgCapital is in preliminary talks to re-purchase the main part of Iris Software Group, four years after selling it to Hellman & Friedman. The deal is valued at GBP425 million, although sources have stressed that a possible deal is still several weeks away, and is by no means certain.
Richard Moulton (pictured), head of private equity at international law firm Eversheds, says: “News that HgCapital is in talks with its previous investee company, Iris Software Group, is less surprising than many would at first think. Given the scarcity of high quality businesses for sale at the
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