cnolan

3i Group has made its first investment in Brazil, acquiring a “significant minority stake” in Brazilian cable TV and broadband provider Blue Interactive Group. The deal is valued at about $55 million. Blue Interactive was formed in 2009.

Women's clothing chain Talbots Inc. has rejected a $212 million buyout offer from private equity firm Sycamore Partners, Reuters reported Tuesday. Earlier this month, Sycamore, which owns 9.9% of Talbots, offered to buy Talbots for $3 a share when the company's stock was trading at $1.56. Investors in the company quickly criticized the offer as too low.

South African investment firm Mvela Group said on Tuesday its shareholders had blocked a buyout offer from London-listed Blackstar Group, sinking a $215 million deal, Reuters wrote Tuesday. Blackstar is an Africa-focused investment company listed on London's AIM market for smaller firms.

Leo Hindery Jr., a managing partner of private equity fund InterMedia Partners LP, has joined the board of PhoneGuard Inc. PhoneGuard is a subsidiary of Options Media Group Holdings, and a provider of mobile applications software. . Hindery is the former chairman and chief executive of The YES Network, which he founded.

Cressey & Co. has acquired a majority stake in InnerChange, a provider of residential treatment and therapeutic services to young women with behavioral, emotional and substance abuse problems. Terms of the deal were not released. InnerChange is based in Orem, Utah. Cressey & Co. has offices in Chicago and Nashville and focuses on investments in the healthcare industry.

Apple is paying up to $500 million to buy Israel's Anobit, a maker of flash storage technology, Reuters reported Tuesday, citing the Calcalist financial daily. Last week Calcalist had reported that Apple was in advanced talks to buy Anobit for $400-$500 million, Reuters wrote.

Luxembourg-based Securum Equity Partners is planning to build a 2 billion euro ($2.6 billion) solar park in Serbia, Reuters reported Tuesday. The company plans to start the project in 2013, and said it would set up an open-end fund by the end of December to channel the investment, Reuters wrote.

Edison Ventures has promoted David Nevas to principal. Nevas joined the firm in 2007 and focuses on investments in interactive marketing and eCommerce companies. He currently serves as board observer of The Neat Company and previously was an observer of the Checkpoint HR board.

Blackstone is set to buy a 1.36 billion pound ($2.1 billion) property loan portfolio from the Royal Bank of Scotland, Reuters reported Tuesday. The loans will be put into a jointly owned vehicle in which the state-owned bank will hold a 75% equity stake that it will sell down by the end of 2013, Reuters wrote. Blackstone, backed by China Investment Corporation, will take a 25% equity share and manage the properties.

NDS Group Holdings Ltd., which provides software services to pay television, filed with U.S. regulators to raise up to $100 million in an initial public offering, Reuters reported Monday. The UK-based company was taken private in February 2009, and is owned by private equity firm Permira and News Corporation.