Brad Meikle
Advent International has announced several senior appointments following the closing last year of its $1 billion GPE III fund and the recent launch and initial close of its new Central European Fund (story page 3). Joanna James has succeeded Nick Callinan as managing director of Advent’s Central Europe team, while John Singer and Will Schmidt […]
Morgan Grenfell Development Capital is pressing ahead with its European expansion strategy despite press speculation that Deutsche Morgan Grenfell is liable to lose much of its autonomy, along with the Morgan Grenfell name, as part for Deutsche Bank’s overhaul of its global investment banking business. A glance at the back of MGDC’s 1997 review reveals […]
It should come as no surprise that CVC Capital Partners is gearing up for a new fund-raising effort. CVC, in 1997 ranked by KPMG as the leading buyout player in Continental Europe for the sixth consecutive year, raised $800 million (ecu 740 million) for CVC European Equity Partners in 1996. In the 18 months to […]
The last of the 1997 mega-funds, The Candover 1997 Fund, closed in December on GBP850 million (ecu 1.28 billion). One of the largest funds in Europe after the $2.5 million (ecu 2.3 billion) Doughty Hanson leviathan, the new vehicle will enable Candover Investments to underwrite more than GBP200 million of equity for a single deal. […]
Advent International rapidly brought its second Central Europe fund to a first closing on $80 million (ecu 74 million) early this year. Joanna James, the new managing director of the group’s Central Europe team, said Advent International has already received “serious indications of interest” that would take the fund to its original target of $150 […]
Barclays Bank’s private equity arm, retained by the bank following its sale of parts of the BZW investment banking business, is positioning itself for further growth. Renamed Barclays Private Equity (BPE) to reflect its status as a subsidiary of the Barclays Capital division, the private equity group has announced substantial new funding, further progress of […]
Legal & General Ventures (LGV) has closed GBP90.5 million of external commitments for its fifth annual partnership fund, the latest in a series of UK and Continantal European buyout vehicles for individual calendar years. With Legal & General’s customary annual commitment of GBP100 million, the LGV 1998 Private Equity Fund LP weighs in at GBP190.5 […]
By the end of 1997, Alchemy Partners, the private equity group established by Jon Moulton, had closed annual commitments of GBP101 million (ecu 152 million) from 14 institutions for its open-ended 12-month rolling structure, the Alchemy Investment Plan. Having raised the maximum annual capacity originally envisaged (EVCJ April/May 1997, page 5), and with nine deals […]
The privatisation of SEAT, the Italian “Yellow Pages” business, the largest private equity transaction yet seen in Continental Europe (EVCJ August/September 1997, page 4), will be finalised this Spring. Late last year, an international equity syndicate co-led by Banca Commerciale Italiana (BCI) and Investitori Associati, invested around L875 billion (ecu 450 million) to acquire the […]
Donaldson Lufkin & Jenrette is poised to beef up its London-based private equity operation as part of the overall expansion of the investment bank’s European business. Andrew Rush, a managing director of DLJ’s New York private equity operation, is expected to relocate from New York to London to source investment opportunities for DLJ’s $3 billion […]