The five firms giving evidence to the UK Parliament’s investigation hope a mixture of hard fact about successful deals and plain talking about tax among other issues will make a stronger case than the BVCA managed with its lamentable performance last week.
US mid-market firm Sterling Capital has nearly doubled the size of its previous fund with a ‘quick, easy’ capital raise.
Avista Capital – the firm founded by former DLJ head Thompson Dean along with other senior executives from CSFB’s private equity arm – has closed its first fund on $2 billion.
EMAlternatives has secured its first investment, with a $100 million commitment from the California Public Employees’ Retirement System. The private equity fund investment specialist attempts to offer global investors exposure to markets they have not invested in before.
Blackstone’s public float will net Steve Schwarzman and Pete Peterson more than $2.3 billion. Last year, according to a regulatory filing, the pair took home more than $600 million.
US buyout firm Summit Partners has taken a minority stake in private internet sale company Vente-Privee.com, as European internet companies show signs of recovery following European venture capitalist Index Ventures’ successful sale of Last.fm to US television network CBS.
The Houston, Texas-based company has closed its eleventh private equity fund on $1 billion.
PCG International has closed its first investment vehicle, a $400 million fund of funds backed solely by CalPERS.
San Francissco-based middle-market firm Genstar has closed its fifth fund on $1.55 billion – more than triple the amount it raised in 2004.
The US’ largest pension fund has committed $500 million to Health Evolution Partners, a new private equity firm it created in part to lower the cost of enrollee health benefits. An additional $200 million has been allocated for similarly health-oriented fund of funds.
Nordic private equity firm EQT is chasing down the final cheques from “friends and family” investors in its industrial network for its second mezzanine fund, which could see it close on almost €500 million, a regional record.
Abraaj Capital, a Dubai buyout firm, is leading a consortium to take the Egyptian Fertilisers Company private eclipsing the firm’s previous record-breaking investment in EFG-Hermes, an Egyptian investment bank.
UK buyout firm Terra Firma has sold Thresher Group to a consortium led by Duke Street Capital founder Eddie Truell. Sources insisted the firm has made a profit on the deal, despite reports that it had been forced to sell the group at a loss.
Alistair Baillie, industry veteran and founder of IPH, a port infrastructure vehicle, has sold to Global Infrastructure Partners for an undisclosed sum.
The Dallas-based buyout shop is set to sell US meatpacking firm Swift & Company to Latin America’s largest beef processor in a $1.4 billion transaction. HM says it began strategic discussions well before Swift suffered six major immigration raids.