LONDON (Reuters) – British Seafood, the fish importer and distributor part-owned by 3i Group (III.L), has gone into administration, wiping out gains made by the private equity firm’s sale of healthcare company Ambea. Tough conditions in financial markets have caused some banks to withdraw trade credit, choking the supply of working capital necessary for businesses […]
FRANKFURT (Reuters) – German chemical distributor Brenntag is aiming for an initial public offering in the first half of 2010, most likely before the Easter holidays in early April, two people familiar with the matter told Reuters. The sources added that an official announcement was set to be made later on Thursday. Brenntag had no […]
Frank Yu, a former managing director with Och-Ziff Capital Management, is planning to raise up to $500 million for a China-focused private equity fund, according to The Wall Street Journal. It will be called Themes Investment Partners.
Adam Clemens and Greg Garrett have joined Portfolio Advisors as managing directors. Clemens previously was co-founder and president of New York Life Capital Partners, while Garrett was a partner with Adams Street Partners. www.portad.com
BOSTON (Reuters) – An administrative assistant at Blackstone Group LP has sued the U.S. private equity firm for not paying her overtime despite regularly scheduling her to work more than 40 hours per week. In a lawsuit filed in U.S. District Court in Boston on Wednesday, Hope Smith of Cambridge, Massachusetts, said the New York-based […]
Jeffrey Schottler has joined Denver-based I-bank Headwaters MB as a managing director. In an email, he said he would “focus on equity and debt capital raising initiatives for emerging growth and middle market companies across a broad range of industries as well as a much deeper focus in the life sciences sector.” Schottler previously spent […]
Code Advisors has launched as a boutique investment bank focused on "the intersection of media and technology." Its principals are Quincy Smith (former CEO of CBS Interactive), Fred Davis (co-founder of Davis Shapiro Lewit & Hayes) and Mike Marquez (former head of biz dev for CBS Interactive). Advisory board members include David Golden of Revolution LLCand Danny Rimer of Index Ventures.
Jeff Roberts has joined Gibson, Dunn & Crutcher LLP as a London-based partner, with a focus on international M&A, private equity and equity capital markets. He previously was with Freshfields Bruckhaus Deringer.
Loretta Lau has joined law firm Goodwin Procter as a Hong Kong-based corporate finance partner. She previously was with Mayer Brown.
BUDAPEST (Reuters) – China’s Wanhua Industrial Group will provide 140 million euros ($189 million) funding for Hungarian chemicals group BorsodChem and may gain full ownership within 24 months, BorsodChem said on Thursday. Under a deal signed with BorsodChem’s owners, private equity fund Permira [PERM.UL] and Vienna Capital Partners (VCP), Wanhua will supply initial funding of […]