CHAMP, an Australian PE firm, is nearing its $1.5 billion Australian (US$1.4 billion) fundraising target for its third fund. So far, the Sydney buyout shop has raised US$847 million (which is A$903 million), for CHAMP Buyout III GP, according to a Sept. 23 SEC filing, which was uncovered by the sleuths at FormDs.com.
3i Group Plc, a British private equity company, is buying Japanese debt management company Mizuho Investment Management for 18.3 million pounds ($28.7 million) from its parent company, Mizuho Corporate Bank.
Kohlberg Kravis Roberts has bought Visma, a Norwegian software company, for $1.2 billion ($1.88 billion), from private equity firm HgCapital, the companies announced on Sunday. HgCapital retains a 17.7 percent stake in Visma.
This week, Forbes came out with its list of the 400 richest people in America. I quickly glanced at it to see where our PE rock stars had placed. Steve Schwarzman ranked 69th with $4.1 billion. Billionaires Carl Icahn and Ron Perelman, who were both listed under “leveraged buyout,” tied at 24th place with each having fortunes of about $11 billion. Leon Black came in at 110th with $3 billion while Tom Gores was 153rd with $2.4 billion. Wilbur Ross placed 205th with $1.9 billion.
With all the fuss about AngelGate, I read something today that was startling. Ascend Performance Materials is paying a $922 million dividend to owners SK Capital Partners, according our sister Web site, Buyoutsnews.com, (subscribers can see the story here), citing a report from Standard & Poor’s. SK Capital, a middle market PE firm, bought Ascend in April 2009 and injected roughly $50 million equity. Total dividends paid to SK could reach $1.1 billion, which includes dividends already paid out and future ones contingent on certain events, the Sept. 22 report from S&P said.
Hyland Software, which is backed by Thoma Bravo, has bought Computer Systems Co., which provides business and clinical healthcare software and document conversion services. Financial terms were not announced. Both Hyland and CSC are based in Cleveland. Hyland, a software vendor, is the developer of OnBase, a suite of document and process management services. Thoma Bravo, with offices in San FrancisCo and Chicago, invests in mid-market technology and services companies.
(Reuters) – Boston-based private equity firm Bain Capital is set to kick off the sales process for French chemical company Novacap shortly, sources with direct knowledge of the matter told Reuters. According to the company’s website, Novacap has annual sales of around 500 million euros. The business includes soda ash and bicarbonate minerals, phenol and […]
Private equity firms 3i and TCR, along with management led by Olivier Delrieu, will buy Trescal, a European company involved in weights and calibrations, from Astorg Partners, a French private equity firm. 3i and TCR will take a minority stake. Trescal has, since 2007, made eight acquisitions across five countries and grown its turnover from EUR 70 million to EUR 110 million ($91 million to $144 million).
Endesa, the Spanish division of the Italian energy company Enel, is in talks with Goldman Sachs about selling 80 percent of its Spanish gas grid for around 800 million euro ($1.07 billion), according to a report in a Spanish newspaper. Funds sponsored by Macquarie and AXA Private Equity also submitted offers for the grid.
Danish jewellery maker Pandora, which is backed by private equity firm Axcel, has attracted enough offers to cover the base deal, according to Reuters. Pandora launched the IPO of up to $2.16 billion of stock on September 20, which will allow Axcel and the company’s founding family to exit. A Danish newspaper reported that most orders were around the middle of the 175 to 225 crowns per share range ($30.8 to $39.65).