Firms and Funds

Can an IPO be postponed if it never really existed in the first place? That’s the existential question posed today by KKR, which announced that its stock won’t hit the Big Board until sometime next year, after originally having planned to list this quarter. From an IPO market perspective, this is hardly surprising. No company […]

Asia Alternatives has closed its second Asian private equity fund-of-funds with $950 million in capital commitments. It had been targeting $850 million, after having closed its debt vehicle in May 2007 with $515 million. CP Eaton served as placement agent, while limited partners included California Institute of Technology, CalPERS, New York State Common Retirement Fund, OHIM Asia Investors, OMERS, Pennsylvania State Employees' Retirement System, Warren Hellman and Arthur Rock.

AMSTERDAM (Reuters) - Kohlberg Kravis Roberts & Co's KKR.UL Amsterdam-listed fund reported a 22.6 percent decline in its net asset value since the start of the year and said a planned merger and new listing with its parent will not happen until 2009. KKR Private Equity Investors (KPE) (KKR.AS: Quote, Profile, Research, Stock Buzz), an affiliate of Kohlberg Kravis Roberts & Co that listed in 2006, had been planning to merge with its parent and list on the New York Stock exchange by the end of 2008. "As the decline in KPE's quarterly NAV evidences, some of our investments faced reduced valuations during the third quarter as a result of the extraordinary turbulence in the global capital markets," George Roberts, Co-Founder of KKR, said in a statement. Roberts said the group was redoubling efforts to improve

(Reuters) – Private equity firm Carlyle Group is expected to announce on Monday that it has raised $673 million (530 million euros) for a new fund aimed at small buy-outs of European technology companies, the Financial Times said. The fund, named Carlyle Europe Technology Partners II, will seek to acquire technology companies worth between 20 […]

HONG KONG, Nov 3 (Reuters) – UBS AG (UBSN.VX: Quote, Profile, Research, Stock Buzz) said on Monday its new infrastructure fund raised a higher-than-expected $1.5 billion, with investors attracted by the prospect of stable, inflation-resilient returns amid global financial turmoil. The bank, which last month took an emergency injection of funds from the Swiss government […]

UK accountancy firm Tenon Group has launched a distressed investment fund. The AIM-listed company is planning to raise between £15m and £20, with Tenon expected to invest £1.5m as a cornerstone investor, and the fund management team – TenCap – to invest an additional £250,000. The fund – called T-Fund I – will look for […]

European venture capital is proving surprisingly resilient in the face of the global economic conditions with UK data provider Library House revealing that activity in the third quarter of the year is 30% up on Q2. In Q3, over 750 investors backed more than 400 companies across Europe, a slightly higher figure than the previous […]

VCs celebrate floatation of Oxford-based biotech business.

UK small-cap investor Inflexion Private Equity has sold Ilchester Cheese, a producer of speciality cheeses, to Tine, a Norwegian milk co-operative, for an undisclosed sum. The exit generated a 2x return, with an IRR in the mid-20s, from an investment made in 2004. Inflexion backed a £14m MBO in December of that year, investing £5m […]

Brynwood Partners has secured $120 million in capital commitments for its sixth fund, according to a regulatory filing. It is targeting upwards of $400 million in total. The Greenwich, Conn.-based firm makes control investments in the lower middle-markets, and raised $250 million for its fifth fund, back in 2004. www.brynwoodpartners.com