A year that begun with a degree of trepidation produced some of the biggest achievements enjoyed by private equity firms in Asia to date. The results of PEO’s inaugural Asian Awards poll reflect 2003’s successes.
Another exit gushes profits in the energy sector as the Irving, Texas energy investment specialist strikes a 3.2 times realization on the sale of Cortez Oil & Gas to publicly traded Encore Acquisition.
After 21 months on the fundraising trail, Terra Firma has closed its debut fund on €2bn and is now preparing to invest it in up to ten deals over the next three years.
The New York middle-market turnaround specialist raises more than double its previous fund and surpasses its initial target of $350 million.
Sofinnova Ventures, the San Francisco-based venture capital firm, has closed its sixth fund, Sofinnova Venture Partners VI, at a capped level of $250m.
Capvis, the Swiss private equity house, has agreed to acquire ABB’s Swiss building systems business for an undisclosed sum.
Sagitta Private Equity, a private equity firm investing in small UK mid-market companies, has closed its latest fund at £105m – beating its £75m target by 40 percent.
The US venture capital firm will take on the formerly bankrupt IT company’s venture capital portfolio in exchange for management fees and a cut of the realizations.
The US investment firm has purchased €35m of Abbey National’s existing LP interest in Hutton Collins’ debut mezzanine fund, as well as making an additional €40m commitment - taking the firm’s fundraising to €200m.
Noble Fund Management’s Noble Venture Finance I Limited Partnership fund will provide asset-backed finance to growth companies throughout the EU.
The Waltham, Massachusetts and Menlo Park, California early-stage venture capital firm will continue to finance data communications, and software and service companies.
The Polish private equity firm has held a first close of its €300 million fifth fund, securing commitments from pension funds, insurance companies and financial institutions in the US and Western Europe.
Energy Investors Funds Group closes a US fund for investment in power plants and ‘clean’ energy projects, and announces its independence from Deutsche Bank.
The New York and Cleveland, Ohio firm sells Dynojet Research to Graham Partners, a middle-market private equity group based in Philadelphia.
Sir Richard Sykes is to become chairman of Medeus, a new company which has acquired the drugs marketing arm of Elan Corporation in a $120m MBI funded by Apax Partners.