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Some 674 private equity-backed buyouts deals worth an aggregate USD60.6bn were announced in Q3 2011, a 23% decrease in value from the previous quarter’s total of USD78.7bn, according to Preqin’s quarterly deals data. A total of 254 exits valued at an aggregate USD56.2bn were announced in Q3 2011, 54% down from the record total of over USD120bn in Q2 2011.
In Q3 2011, 670 private equity-backed buyout deals with an aggregate value of USD60.6bn were announced, a 23% decrease in value compared to Q2 2011. However, aggregate deal value in Q3 2011 is 7% larger than in Q1 2011, when
Latham & Watkins represented DIC, the private equity arm of Dubai Holding, in connection with the sale of Ishraq Dubai LLC (Ishraq Dubai) to Almulla Group.
Ishraq Dubai was 51% owned by DIC and 49% owned by Ishraq Gulf Real Estate Holding BSC, which in turn is majority owned by DIC. Ishraq Dubai owns four hotels in Dubai operating under the franchised Holiday Inn Express brand, located in Dubai Internet City, Al Safa, Jumeirah and at Dubai International Airport Terminal 3.
The Latham & Watkins mergers and acquisitions team was led by Dubai partner Charles Fuller and associate Will Seivewright.
Mid Europa Partners, a private equity firm focused on Central and Eastern Europe, has formed an Industry Advisory Board through the appointment initially of three members.
The Industry Advisory Board is a network of senior industry executives with whom Mid Europa has long standing relationships and will provide insight and introductions for the Mid Europa investment team in target sectors across the CEE region. Mid Europa expects to expand the Industry Advisory Board through further selective appointments over time.
The initial appointments include Bruno Ducharme, Steve Johnson and Richard Oppenheim.
Ducharme is Chairman of TIW Capital Partners, a private
Daiwa Securities Global Asset Services, the fund servicing arm of the Daiwa Securities Group has retained its Statement of Auditing Standards (SAS) 70 Type II report from its independent auditors, KPMG, in respect of Daiwa Europe Fund Managers Ireland Limited, its Fund Administration operation in Ireland.
The report was issued in final form in August and covers the 12 month period ending 31 May 2011.
Daiwa’s previous SAS70 Type II report was issued in January 2011, but in response to developing industry trends and the wish to give clients and fund auditors the highest level of continuous assurance , Daiwa
Baker & McKenzie has advised Citadel Capital SAE Platform Company Africa Railways Ltd on a major fundraising that saw leading international investors subscribe to a USD70 million capital increase.
This brings total funds raised for the transaction, including senior debt and equity, to USD275 million.
Participating institutions included IFC African, Latin American and Caribbean Fund, LP (ALAC), the private equity fund managed by the IFC Asset Management Company, LLC; Dutch development bank FMO; German development finance institution DEG; FISEA, a vehicle dedicated to investment in Sub-Saharan Africa owned by France’s Agence Française de Développement and managed by its subsidiary PROPARCO;
The California Endowment, the state’s largest, private health foundation with assets of more than USD3 billion, has committed USD10 million to DBL Investors’ second fund—the DBL Equity Fund (BAEF II, L.P. or Fund II).
DBL Investors, a pioneer in double bottom line venture capital investing, has invested in 28 start-up companies to date and shares The California Endowment’s commitment to seeking investments that can deliver strong financial returns with positive social, environmental and regional economic impact. With the addition of The California Endowment as a Limited Partner, DBL Investors has raised USD150.8 million for Fund II.
This collaboration brings together
Albion Ventures has hired Dr Christoph Ruedig to work alongside Dr Andrew Elder in growing its allocation and managing its investments in the healthcare sector.
The venture capital trust (VCT) provider announced earlier this year that it intends to increase its weightings in healthcare across all portfolios from 13% to 25%. The portfolios are presently weighted at approximately 17%.
Christoph brings to Albion a wealth of medical experience, having worked in the healthcare sector for nine years. After qualifying as a doctor in 2002, he worked in Munich University Hospital as a radiologist before working in the healthcare sides of
During Q3 2011, 97 private equity funds reached a final close, raising an aggregate USD44.8bn, according to Preqin. While the latest quarterly figures are expected to improve slightly (10-20%) as more information becomes available, fundraising levels are significantly down on those seen in recent quarters.
Some USD82.8bn was raised by 175 funds that closed in Q2 2011. In addition to the 97 funds that reached a final close in the quarter, a further 109 funds held interim closes, securing commitments totalling USD42.7bn towards their
Funds primarily focusing on North America have raised the most capital during Q3 2011, with 37
CI Capital Partners, a North American private investment firm, has acquired Galls, LLC, a USD163 million revenue, full service marketer and distributor of public safety, first responder and private security products, from ARAMARK Corporation. The terms of the transaction were not disclosed.
Founded in 1967, the Lexington, Kentucky based Galls markets and sells uniforms, duty gear, footwear, medical supplies and other products used by law enforcement, fire safety, emergency medical, private security and corrections personnel. The Company has built its reputation by providing customers with the industry’s broadest offering of well-recognised products, fast delivery and a high level of customer
Palamon Capital Partners (Palamon), one of Europe’s leading mid-market private equity firms, has appointed Julian Carreras as a Principal.
Palamon’s pan-European team, which comprises professionals from eight different countries, targets service businesses across Europe with the potential to access significant top-line growth.
This appointment marks the return to Palamon by Carreras, a Spanish national, who was a member of the Firm between 2003 and 2006. Carreras initially joined Palamon from Goldman Sachs and prior to that worked for McKinsey & Co. Between 2006 and 2011, he held positions with Cinven in London and Thesan Capital in his home town of
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