Carlyle, General Atlantic, Hellman & Friedman and Blackstone have been reported as potential buyers of Lehman Brothers divisions including its private equity arm, as the beleaguered investment bank looks to shore up its balance sheet.
The lower mid-market firm has sold German automotive and aerospace engineering consultant, IndustrieHansa, for an undisclosed sum, just two years after acquiring it. The buyer was Findos Investor, a fund backed exclusively by German family-owned companies.
The UAE-based buyout group has appointed industrialist Farrukh Abbas to head the firm’s developing Pakistan operations. Abbas will be charged with managing Abraaj’s three portfolio investments in the fast-growing economy as well as sourcing new opportunities.
Following its massive investment in Macau casino and hotel operator Galaxy, the firm has hired a former Goldman banker in its recently established Hong Kong office to lead its efforts in Greater China.
The European mid-market firm has turned its attention to Central and Eastern Europe with the secondary buyout of a Polish manufacturer of rail freight buffers from Advent. The region is becoming a private equity hotspot, but IK will be proceeding with care.
The Norwegian private equity firm has exceeded its original target of €225m for Norvestor V after seven months of marketing.
The energy- and commodities-focused US firm has in the past two weeks agreed three deals worth approximately $365m. The firm, a Sowood Capital spin-out, closed its debut global energy fund on $2bn in May.
The US investment bank continues to enhance its private equity activities in the region, closing on one-third of the capital it is raising for a pan-Asian infrastructure fund.
Warsaw-based Enterprise Investors has taken a 60 percent stake in Polish bathroom retailer and wholesaler Wema in a deal that values the company at €77m. The acquisition follows figures last week showing that the flow of capital into emerging markets private equity is rapidly accelerating.
Having originally set out to raise €10m by the end of the year from both institutions and individuals, InReturn Capital is upping its target in response to strong demand.
The Canadian power generation company has rejected an all-cash take-private by LS Power Equity Partners and Global Infrastructure Partners saying that the firms’ ‘highly conditional approach’ undervalues the company.
Following the completion of its 19th acquisition this year, the mid-market specialist is lining up the launch of its fourth European fund.
The market responded to an upbeat Lehman Brothers Private Equity Partners update this morning with a marginal increase in the stock price. But shares in the Euronext-listed vehicle are still trading at a discount to net asset value.
3i-owned hedge fund administrator Fulcrum is merging with Butterfield Fund Services to form a combined platform worth $300m. Akshaya Bhargava, 3i’s former industrialist in residence and the current chief executive of Fulcrum, will take the helm at Butterfield Fulcrum Group.
The buyout firm is planning another close for its third Europe fund at the end of October, having already held a second close on €4.8bn.