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Peakside Capital, a specialist European real estate private equity firm, has, on behalf of Peakside Real Estate Fund I (PREF I), successfully concluded the sale of a prime mixed use asset in Berlin to a private investor for in excess of EUR12 million. With a price 15% above the property’s latest valuation, the transaction reflects a net initial yield below 5%.
Located on Kurfürstendamm, in one of Berlin’s prime retail and office areas, the asset comprises over 4,000 sqm of retail, office and residential space. The sale of the asset follows an extensive asset management plan undertaken by the Company,
Schroders’ Chief Investment Officer, Alan Brown comments on Friday’s market volatility…
Two items of news lie behind the continuing market rout: the sharp decline in the Philadelphia Index and the news that other Eurozone countries were likely to seek to negotiate collateral arrangements from Greece to match the deal that Finland has achieved. As such this is a continuation of the same two themes, concern over the prospects for world growth and concerns over the stability of the Eurozone.
As often happens at times of great uncertainty, natural value buyers will often sit on the side lines rather than try
Ray LaSoya has joined US law firm Stroock & Stroock & Lavan as a Partner, with immediate effect. LaSoya will be resident in the firm’s Los Angeles office and will serve as the National Chair of Stroock’s Private Equity Practice Group.
LaSoya has worked on a variety of complex corporate transactions, including tender offers, acquisitions and divestitures, public offerings and private equity investments. He counsels clients in the areas of public disclosure, reporting and corporate governance. He represents both public and private companies, including private equity investors and their portfolio companies, in their day-to-day legal affairs and in transactions across
Just under two-thirds of infrastructure funds charge management fees of 2% on funds that are currently raising or that have closed in the recent past despite pressure for lower fees from investors with 62% believing that management fees are too high.
The data was collected as part of the 2011 Preqin Infrastructure Review, which investigates the alignment of interests between investors and fund managers.
According to the research, 51% of investors interviewed for the study believe that interests between fund managers and investors are not properly aligned; this is an improvement from 72% who believed the same in June 2010.
Alex Orus (pictured), CIO, Blue Diamond Asset Management, on the current ‘flight to safety’ prompted by the recent political and market turmoil…
The political and market turmoil has caused many investors to aggressively reduce or exit equity markets in favour of what the global media and investors call “safe assets” – for example, US treasuries, Swiss and German government bonds.
It is understandable that investors want to de-risk their portfolios as long as political leaders, in particular in Europe, are struggling to take any decisions that would make sense in the long-run. However, we believe that a “de-risking” of a
Novem Vermögensverwaltungs has sold Novem Beteiligungs (Novem) to funds managed by private equity firm Bregal Capital LLP.
Novem is a globally active manufacturer of high-quality decorative components and functional elements for vehicle interiors, with headquarters in Vorbach, Germany. As the world market leader for fine wood decorative components, Novem supplies renowned automotive manufacturers like Audi, BMW, Daimler, VW, Volvo, Range Rover, Maserati, Lincoln and Cadillac. The company’s revenue in the fiscal year ending March 2011 was more than EUR 270 million.
In 2008, financial investor Barclays Private Equity acquired the majority of Novem. As a consequence of a significant decrease
Hewlett Packard’s proposed USD10bn takeover of Autonomy signals a shift of focus from hardware to software for HP, says Tim Daniels, TMT Strategist at Olivetree Securities…
It would make perfect sense for one of the big database players to want to own Autonomy – the software is indeed unique and growing in importance. However, a takeout price would have to be large, potentially 2500-3000p to take the stock close to valuations US “peers” trade at. We don’t think Mike Lynch would recommend a sale below top dollar valuations, although once one move were made it would be very possible that counter
Andy Miller (pictured) has joined the Highland Capital Partners as a General Partner. Based in Highland’s Menlo Park office, Miller will work to partner with the most promising mobile and technology companies in the Valley.
Miller joins Highland from Apple Inc, where he reported directly to Steve Jobs and was Vice President, Mobile Advertising. At Apple, he headed up the iAd team, the mobile advertising network for the iPhone, iPod Touch and iPad line of mobile devices. Previously, Miller was the Co-Founder and CEO of Quattro Wireless, the mobile advertising company that was seeded by Highland and ultimately acquired by
3i, an international investor focused on private equity, infrastructure and debt management, has acquired a minority stake of newly issued shares in TouchTunes Interactive Networks, the world’s largest digital interactive out-of-home entertainment provider, for USD40 million. Current majority shareholder VantagePoint Capital Partners will invest an additional USD5 million. The total investment will support TouchTunes’ growth strategy and help bolster its product and service offering.
Founded in 1998, TouchTunes is the world’s largest digital interactive out-of-home entertainment network with 50,000 Digital Jukeboxes located in restaurant and bar establishments across North America. The company has recently unveiled its award-winning premier Digital Smart
Australian middle-market buyout manager Tasman Capital has selected Geneva-based alternative assets marketing firm MCAM Group to raise capital for the Tasman Capital Partners fund internationally.
The private equity fund’s target size is AUD200 million with a hard cap of AUD300 million, and will be targeting deals in the Australian and New Zealand lower middle market with an enterprise value under AUD100 million. Tasman Capital will focus on MBO/MBI transactions, turnaround investments, roll-up and aggregation plays and expansion capital as well as engage in public-to-private transactions on an opportunistic basis.
According to Tasman Capital’s co-founders, Gene Lorenz (pictured) and Rob Nichols,
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