The Paris-headquartered private equity firm has opened two new locations this year on the heels of closing its €1.6bn Fund IV. The Vienna-based team mainly look for corporate takeover opportunities, but will also source growth capital, mezzanine, infrastructure and co-investment deals.
As part of its global efficiency drive, the firm’s entire Chinese investment team will be based in Beijing.
Former TCW president William Sonneborn has been named head of KKR Asset Management as well as chief executive of NYSE-listed KKR Financial, which is one of the largest lenders to Sam Zell’s now-bankrupt Tribune.
LPs are turning away existing relationships as they bump up against their target allocations. Almost two-thirds will sell interests on the secondaries market to focus resources on the best GPs, according to an LP survey by Coller Capital. There has been a 'growing recognition' among LPs of the importance of being with the best GPs.
LPs are turning away existing relationships as they bump up against their target allocations. Almost two-thirds will sell interests on the secondaries market to focus resources on the best GPs, according to an LP survey.
Investcorp has become the latest firm to take cost-cutting measures as it plans to lose 90 staff. Earlier this week the firm invested in UK debt management company TDX Group.
The publicly traded mid-market and mezzanine firm has said it will also close two offices and implement ‘internal cost saving steps’ as it re-sizes its operations to coincide with lower business volume. 3i is reportedly cutting 15% of its staff.
The listed buyout firm is will eliminate 100 jobs, mostly in back-office functions such as human resources and marketing.
The emerging markets-focused firm has already invested 12% of the fund, which will limit its use of leverage to deals in South Africa and Southeast Asia.
The second-largest pension fund in the UK is increasing its headcount as it seeks to grow its alternative asset allocation to private equity and infrastructure.
After a promising start to its latest fundraising, tough market conditions have forced the Paris- and London-based firm to lengthen the fundraising period for its €250m renewables fund.
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The private equity firm will continue to invest in these regions, but has decided dedicated teams weren’t warranted given global financial turmoil coupled with the ‘difficult investment’ climate.
Its investments in turn-key renewable energy infrastructure projects across the EU will be managed by German renewable energy specialist and asset manager SachsenFonds. Aviva and SachsenFonds previously partnered on a €600m Central European property fund.
The global buyout group has taken another step away from venture capital. It closed its venture-focused Boston office last year.