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GPs that closed their funds in 2008 still have a combined USD204 billion in dry powder to invest from these vehicles, the latest Preqin research reveals.
As the average private equity fund investment period is five years (real estate funds are the exception), these GPs will be under a considerable amount of pressure to invest both to avoid exercising clauses to extend the agreed investment period and to provide timely returns on capital.
A record USD679 billion was raised by the 1,308 funds that closed in 2008 but there are examples of funds that closed during the boom year that
Emerging Capital Partners, a Pan-African private equity specialist, has signed a co-operation agreement with the International Finance Corporation (IFC) to participate in its Private Equity Africa Climate Change Investment Support program. ECP is the first private equity firm to participate in the program.
The program, funded by the Norwegian Government, is designed to enhance sustainability best practices in Africa. Through the program, the IFC works with private equity fund managers and provides advisory services in Sub-Saharan and North Africa by identifying resource efficiency and other sustainability-related cost-savings opportunities, in this instance for Emerging Capital Partners’ Pan-African Fund portfolio companies.
Vision Capital has agreed to sell Terphane to Tredegar Corporation (NYSE: TG), a global manufacturer of plastic films and aluminium extrusions, for USD188 million.
Under Vision Capital’s ownership, Terphane, a leading manufacturer of speciality polyester films with operations in Brazil and North America, has made rapid operational and financial progress, benefiting from a clear strategic and operational business improvement plan.
Andrew Hawkins, a Managing Partner at Vision Capital, says: “The strategic plan and investment we have made in Terphane have yielded excellent results. The business is now on a very strong platform for future growth. Tredegar is a world leading
Cleary Gottlieb is representing JC Flowers & Co in its EUR243.6 million acquisition of Fidea (Belgium) from the KBC group. The transaction was signed on 17 October, 2011 and is expected to be completed in the first quarter of 2012, subject to customary regulatory approvals.
The divestment of Fidea is part of KBC’s wider restructuring plan, approved by the European Commission, following government support received by KBC in 2008.
Fidea is a complementary insurance distribution channel (under a separate brand name) that KBC used in addition to its core bancassurance platform built around tied insurance agents and bank branches. It
Monique Melis, a Member at financial advisory firm Kinetic Partners, on the sentencing of Raj Rajaratnam to 11 years in prison for insider trading…
Judge Richard Holwell’s agreement with the recommendation that sentencing should be 20-24 years shows that insider dealing will attract the same custodial sentencing as accounting fraud and Ponzi schemes. This latest ruling sends a clear message to executives in the financial services industry that they need to take market abuse and internal controls seriously. It should be noted that the sentence was only lowered due to ill health and no allowance was given to wait outside
APAC Customer Services, Inc has been acquired by One Equity Partners (OEP) the private investment arm of JPMorgan Chase & Co.
One Equity Partners paid APAC stockholders USD8.55 per share in cash, which represents a premium of approximately 57% over APAC’s closing share price on July 6, 2011, the last trading day prior to the announcement of the transaction.
One Equity Partners is the majority owner of NCO Group, Inc, a leading global provider of business process outsourcing services. As previously disclosed, OEP intends to continue to seek to combine APAC with NCO Group to build market leadership in business
The Blackstone Group’s private equity funds have agreed to acquire Antares Restaurant Group in New Zealand from Anchorage Capital Partners.
Headquartered in Auckland, Antares has the exclusive franchise development rights for the Burger King brand in New Zealand and operates 75 Burger King restaurants throughout the country. Under the leadership of the current management team, the business is in the early stages of an ambitious refurbishment program while also opening new restaurants to broaden the footprint in an increasing number of local communities across New Zealand.
Jan Nielsen (pictured), a Managing Director in Blackstone’s private equity group, says: "We are
Sullivan Street Partners, alongside Oakfield Capital and with financing from Indigo Capital, has acquired Taylor Continental Group, a leading UK producer of commercial and industrial waste containers with annual revenues of over GBP20m, from ECI Partners.
Taylor was acquired by ECI Partners in 2005 and Sullivan Street partner Richard Sanders has been involved with the business and management team since 2006. Under the ownership of ECI Partners the company has streamlined and professionalised its operations to become a defensive, cash-resilient business poised for both domestic and international growth. Following a process to find a suitable partner for this next stage
An affiliate of UK Sun European Partners, LLP, the European adviser to Sun Capital Partners, Inc., has signed an agreement to acquire Kobusch-Sengewald, an international producer and processor of custom-designed plastic packaging from Pregis Corporation. The deal is conditional upon the appropriate regulatory clearances.
Kobusch Sengewald is a leading provider of high value, bespoke, plastic-based flexible and semi-rigid packaging solutions to the food, chemical, hygiene product and medical sectors. The business benefits from its unique technical capabilities, custom-made product offering, and geographical presence providing a “one-stop-shop” of tailored solutions to customers across multiple jurisdictions. Kobusch Sengeweld employs over 1,100 employees
Perceva Capital, the independent French investment firm, has acquired a majority stake in Mariteam, a leading French fishery and seafood distributor.
Mariteam, which until now operated as GS Invest and which regroups ten regional affiliates, ensures the supply, preparation and distribution of seafood to over 1 500 clients, guaranteeing the quality and the traceability of its products.
This recapitalisation provides Mariteam with the means to further develop its services with historic clients (wholesalers, fishmongers, distributors, and seafood restaurants) and to expand into new sectors with a larger geographic reach.
By adopting the Mariteam brand and by welcoming Perceva
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