Candover debt increases as pressure builds to sell assets

Private Equity International - 29 august 2013 - 14:50
With debt increasing to £38m in the first half of the year, Candover may not have enough cash for repayments if realisations do not materialise, the firm said in its half year statement. [continue]

The 1960s high schoolers who started a major pot smuggling empire

Boing Boing - 27 august 2013 - 16:33
Joshua Bearman (who wrote the "Argo" story for Wired that was turned into a terrific movie) has a story in the July 2013 issue of GQ called "Coronado High." Josh told me, "The story is an epic tale about a group of friends from Coronado High in the 1960s who started the first major pot smuggling empire, with the help of their former Spanish teacher.     [continue]

BC Partners to list Foxtons

Private Equity International - 27 august 2013 - 15:54
The London-headquartered firm, which bought Foxtons for £375m in 2007, plans to raise £55m via an initial public offering of the estate agent on the London Stock Exchange. [continue]

Could A Spacecraft Fly Straight Through Jupiter?

Despite its gusty reputation as a “gas giant,” Jupiter’s blood-red clouds hide a dense, rocky core that’s perhaps 20 times as massive as Earth. That core blocks any spacecraft’s passage through the center of the planet, but even a detour through the clouds would be a disaster. Knowledge of Jupiter’s innards is scarce, mostly coming from the Galileo probe, which in 1995 plunged 100 miles into the Jovian atmosphere and relayed data until it vaporized an hour later. But here’s what... [continue]

HgCapital Trust NAV per share drops 2%

Private Equity International - 23 august 2013 - 12:03
The London-listed vehicle, which has £200m invested in Hg’s recently-closed Fund VII, has written down 4 companies in the 6 months to July 2013. [continue]

Free exchange: A new toolkit

The Economist - finance & economics - 22 august 2013 - 15:00
IN THE late 1990s and early 2000s central bankers in America and Europe had it easy. By raising or lowering the official interest rate, they could stimulate or dampen the economy at will. Rate changes would ripple fairly predictably through the banking system and bond markets, thereby affecting the price of borrowing across the economy. But following the 2008 crash, central banks were forced to pin their official rates to the floor. After five years of holding them near zero, monetary... [continue]

Synova holds first and final close on £110m

Private Equity International - 21 august 2013 - 16:13
The firm closed its oversubscribed fund on its £110m hard-cap after less than three months in market. [continue]

Asian Sovereign Wealth Fund May Purchase Blackstone Stake in Broadgate Estate

Sovereign Wealth Fund Institute - 20 august 2013 - 17:37
In early 2013, the Blackstone Group hired Eastdil Secured and Bank of America Merrill Lynch to assist in selling their interest in the Broadgate Estate. Blackstone has a 50% interest in the massive 16-building complex in London’s financial district.The Blackstone Group bought the 50% stake in 32-acre Broadgate Estate from London-based real estate investment trust British Land in 2009 in times of great economic instability. The assets were purchased through real estate funds Blackstone Real... [continue]

Hg snaps up accounting software provider

Private Equity International - 19 august 2013 - 11:39
The acquisition of Danish-based e-conomic, the second online business services company bought by Hg this summer, comes a few months after the UK firm closed its latest buyout fund on £2bn. [continue]

Dunedin extracts 2.8x from dentist play

Private Equity International - 15 august 2013 - 10:37
The sale of Practice Plan, which generated a 2.8x return, comes just a few weeks after Dunedin closed its Fund III on £300m, exceeding its £250m target. [continue]