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Finnish-based pan-European private equity fund of funds manager Pohjola Private Equity Funds has reached the first closing of its Selected Private Equity Funds II on EUR97m.
The vehicle, which has a EUR150m target and a hard cap of EUR240m, has raised the first EUR97m from seven Finnish institutional investors.
Pohjola now intends to expand its investor base by inviting selected institutional investors from outside Finland to participate in the fund.
The fund will invest in a portfolio of 15 lower mid-market buyout funds across the EU countries, Norway and Switzerland.
The fund of funds will target funds investing in companies
Tradeshow Marketing has completed a non-brokered private placement of 1,100,918 shares of common stock at USD1.09 per share for gross proceeds of approximately USD1.2m.
The proceeds from this private placement will be used to launch additional products in 2010 on direct response television, to expand the company’s trade show operations, as well as for general operating expenses and working capital.
The shares were issued to two non-US persons in an offshore transaction relying on Regulation S and/or Section 4(2) of the Securities Act.
None of the securities offered or sold under the private placement have been or will be registered
Coming off a year that saw severely diminished venture investment and deal volume in 2009, the venture capital community appears optimistic that a rebound will occur this year, with a prominent focus on the greentech sector, according to a survey by KPMG.
In polling 200 venture capitalists, investors, entrepreneurs and bankers, KPMG found that 67 per cent of respondents indicated that they expect venture capital investment to increase in 2010 compared to 23 per cent in the 2009 survey.
Only seven per cent see a decline in investment levels coming for 2010 compared to last year when more than half
Rex Cowley (pictured), Head of Marketing, at the International division of Close, comments on the renewed interest in Qualifying Recognised Overseas Pension Schemes (QROPS) from British expats and their advisors, following the recent collapse of the Robert Gaines -Cooper case:
For many expatriates the move to a different country is followed by the change of domicile in order to simplify their tax affairs. However, it would seem that many expats still have UK pension contracts, be these defined benefits or defined contribution schemes.
Certain sectors within the advisory community believe that the extent to which many clients have gone with
Law firm Clifford Chance is advising Bridgepoint and newly incorporated company Warwick Bidco on the GBP281m recommended offer for health and social care provider Care UK.
The transaction is the second Clifford Chance has advised Bridgepoint on in recent weeks, following on from the private equity house’s GBP257m acquisition of LGC.
The Clifford Chance team was led by Bridgepoint relationship partner Kem Ihenacho and fellow corporate partner Lee Coney, with James Butters advising on debt matters and Daniel Hepburn on share schemes. Key associates were Susan Kennedy, Louise Dumican, Eleanor West and Christopher Higgins.
Hammonds advised Care UK, SJ Berwin
A superior due diligence process followed by a quick transition to active owner involvement will be key to generating exceptional returns from private equity funds, according to a report by business consulting firm Bain.
The research finds that new buyout funds formed and new investments made over the next three-to-five years will likely generate gross returns in the low to mid-teens on average, several percentage points below their historic levels.
Bain’s analysis of private equity fund performance finds that the quality of the buy drives top returns. The best-performing buyout funds have fewer deals that end up as zeroes—just eight
Law firm Linklaters has advised Triton on the EUR850m (USD1.1bn) acquisition of Ambea from private equity firm 3i.
Ambea is a provider of healthcare and care services in the Nordic region and is one of the largest European healthcare service providers.
The transaction is one of the largest leveraged buyouts in the Nordic region since July 2007 and one of the largest private equity healthcare transactions completed since July 2007, according to Mergermarket.
The transaction was structured as an IPO take out process with 3i running a competitive auction process as a dual track to a proposed IPO.
The Linklaters
RoundTable Healthcare Partners, a private equity firm focused exclusively on the healthcare industry, has appointed Charles W. Stiefel as senior adviser.
Stiefel will assist RoundTable in identifying investment opportunities, facilitating key industry introductions, and advising the firm on strategic and operational issues.
Stiefel is the former chairman of the board and chief executive officer of Stiefel Laboratories, the largest family-owned and operated dermatology company with nearly USD1bn in sales and 3,600 employees in over 100 countries. GlaxoSmithKline acquired Stiefel Laboratories for USD3.6bn in July 2009.
In 2003, Stiefel was awarded the Lifetime Achievement Award by the South Florida Dermatology Foundation,
Archimedes Pharma has raised GBP65m in a funding round led by new investor Novo Growth Equity, the growth equity fund of Novo A/S of Denmark.
This deal is believed to be Europe’s biggest single fund raising round for a bio-pharma company in 15 years.
It is also reported to be the fund’s first investment since it was established in early 2009. US private equity firm Warburg Pincus, already a major investor in Archimedes, also participated.
Archimedes, which develops and manufactures pain relief for cancer patients, will use the funds to establish its US operations and to support the
Placement agent C.P. Eaton Partners has appointed Loren A. Boston as managing director and a member of the management committee with responsibility for leading the firm’s private equity fundraising business.
With over 26 years of Wall Street experience, Boston (pictured) was previously managing director and global head of origination for Merrill Lynch’s private equity funds group.
From 1999 through early 2004 he was managing director and global head of the private equity fund group at Citigroup Global Markets.
Boston brings to C.P. Eaton a large network of relationships in the private equity community. While at Merrill Lynch and Citigroup,
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