Onex Partners, the $1bn-plus private equity fund controlled by Canadian conglomerate Onex Corporation, has completed its first investment, taking a 24 percent stake in US healthcare group Magellan in a $100m deal.
1 min read · 12 January 2013
… the tough get data. Private equity firms churn through massive amounts of proprietary and third-party performance data, and the demand for more statistics is increasing. While GPs and LPs can agree over the quality and accuracy of these numbers, their manipulation raises questions, writes Art Janik
10 min read · 12 January 2013
The maturation of the private equity market is creating a new class of investors who are faced with a luxury of choices: in-house versus outsourced investment staff; separate accounts vs. funds of funds, set menus versus ‘Chinese menus.’ Be careful what you order. David Snow reports
10 min read · 12 January 2013
Personal networks, relationships and access to the right people at the right time are essential no matter where in the world private equity transactions are being pursued. But private equity investors and their financiers, familiar with the whole of Europe's commercial fabric, say there are few countries where being part of the country's inner circle is more important than Italy. It's not as if the country can't deliver exceptional deals when the ingredients are right: witness the ‡5.65 billion buyout in June last year of Seat Pagine Gialle ? Europe's biggest buyout ever and recently voted by our readers as the 2003 European Buyout of the Year. So how does private equity work in Italy? Philip Borel asks Gianfilippo Cuneo, someone who can talk about private equity Italian style with insider's knowledge, to share his views.
10 min read · 12 January 2013
As the funding package for Bain's Brenntag acquisition demonstrates, second lien loans may be the latest US debt instrument to finally become established in Europe. The Deal Mechanic looks at how it fits into the capital structure
5 min read · 12 January 2013
The recent sale of private equity-backed KorAm Bank to Citigroup was a milestone for the industry in Asia
2 min read · 12 January 2013
Amadeus, Apax lead Acol first round; Gyros closes largest Nordic biotech round; HBM leads E13.8m Ingenium round; SG Capital Europe takes Lince stake
3 min read · 12 January 2013
The use of high yield financing is a staple feature of leveraged buyouts, but participants in deals may not appreciate the need for precisely tailored covenants. Valerie Jacob, co-managing partner of Fried, Frank, Harris, Schriver & Jacobson, highlights the keys to investor protection.
10 min read · 12 January 2013
FLV Fund, the struggling Belgian venture capital firm, has terminated negotiations with Arcis Group of France and the UK’s Strathdon Investments that could have led to a sale of FLV’s portfolio assets.
3 min read · 12 January 2013
The Royal Bank of Scotland has appointed Pascal Werner as managing director and head of leveraged finance France following the departure of Michel Chabanel.
2 min read · 12 January 2013
