Private equity correspondent
Simon's Feed
Mar 1, 2012

Buyout firms struggle to repair image under Romney spotlight

Berlin (Reuters) – They may have had Bob Geldof as headline speaker, but as private equity executives headed home after their annual industry gathering in Berlin, many acknowledged they still had much to do to repair their image as unscrupulous corporate raiders.

Thrust afresh into the spotlight by the attempt of former buyout supremo Mitt Romney to become the next President of the United States, private equity bosses have been fighting a rear guard action against claims of self-interested asset stripping and job cutting, as well as their preferential tax treatment.

Mar 1, 2012

Buyout industry struggles to repair image under Romney spotlight

Berlin, March 1 (Reuters) – They may have had Bob
Geldof as headline speaker, but as private equity executives
headed home after their annual industry gathering in Berlin,
many acknowledged they still had much to do to repair their
image as unscrupulous corporate raiders.

Thrust afresh into the spotlight by the attempt of former
buyout supremo Mitt Romney to become the next President of the
United States, private equity bosses have been fighting a rear
guard action against claims of self-interested asset stripping
and job cutting, as well as their preferential tax treatment.

Feb 29, 2012

“Gordon Gekko” Geldof praises private equity

BERLIN, Feb 29 (Reuters) – Sporting what he joked was
his “Gordon Gekko” shirt, Irish rock star Bob Geldof cut an
unlikely private equity figure on Wednesday as he exalted the
industry’s virtues and urged top financiers in their annual
gathering to invest in Africa.

Speaking for an hour without notes at the SuperReturn
International conference in Berlin, Geldof made an impassioned
address peppered with expletives designed to tug on heartstrings
but also appeal to private equity’s profit-making instincts.

Feb 29, 2012

Buyout firms face extinction in fight for funds

BERLIN (Reuters) – Private equity firms looking for billions of dollars of new capital for deals are facing a fight for survival in the hunt for a diminishing pool of capital – and losers risk a slow death.

Fundraising has been subdued since the credit crisis. In 2011, private equity firms raised just $263 billion for deals, less than half the $600 billion they pulled in every year at the peak of the buyouts boom.

Feb 28, 2012

Private equity? You mean alternative asset manager

BERLIN, Feb 28 (Reuters) – Bosses of some of the
world’s largest private equity groups told the industry’s annual
get-together that their growth into alternative asset managers,
investing in everything from credit to real estate, was
necessary for their investors to beat the economic cycle.

Private equity, one of the alternative asset classes
offering diversification from stocks and bonds, has
traditionally been about leveraged buyouts – where the buyer
funds the purchase price through borrowing, using the target
company’s assets as collateral.

Feb 27, 2012

Turkey lures with hopes of private equity spring

BERLIN, Feb 27 (Reuters) – Sandwiched between the
economic turmoil of Europe and the political crises of the
Middle East, fast-growing Turkey has piqued the interest of
private equity buyers hungry for deals.

Rapid economic growth, a booming population, and unrest in
neighbouring countries have sent potential investors flocking,
but with fierce competition for a handful of deals, it is the
local players and few global buyout firms with a domestic
presence who will reap the rewards.

Feb 27, 2012

Spotlight on private equity record as it hits the stage

BERLIN (Reuters) – Starved of credit, and facing a lack of deals and a new bout of indignation over executive pay, the private equity sector has one solace: returns continue to be better than those in stock markets.

Buy-out houses, which make a living buying and selling companies for profit, have agreed some $15.2 billion of deals so far in 2012, down 28 percent on last year.

Feb 22, 2012

DealTalk: CVC faces tough market for StarBev sale

BRUSSELS/LONDON (Reuters) – Fierce competition and sluggish markets make eastern European brewer StarBev a tough sell for its private-equity owner even if it offers potential long-term growth and a respected beer brand in Straropramen.

CVC Capital Partners wants to sell its brewing assets in nine countries, including the Czech Republic, Hungary and Romania, that it bought from Anheuser-Busch InBev (ABI.BR: Quote, Profile, Research, Stock Buzz) in 2009, sources told Reuters late on Tuesday.

Feb 22, 2012

CVC faces tough market for StarBev sale

BRUSSELS/LONDON, Feb 22 (Reuters) – Fierce competition
and sluggish markets make eastern European brewer StarBev a
tough sell for its private-equity owner even if it offers
potential long-term growth and a respected beer brand in
Straropramen.

CVC Capital Partners wants to sell its brewing assets in
nine countries, including the Czech Republic, Hungary and
Romania, that it bought from Anheuser-Busch InBev (ABI.BR: Quote, Profile, Research) in
2009, sources told Reuters late on Tuesday. [ID:nL2E8DLGKQ]

Feb 21, 2012

BC Partners raises 6.5 bln euros for new deals

LONDON, Feb 21 (Reuters) – Private equity group BC
Partners has raised 6.5 billion euros ($8.6 billion)
for new deals, more than it had hoped, to make it the largest
buyout fund from a European firm since the onset of the credit
crisis.

The fundraising provides a ray of hope for a raft of other
big private equity firms trying to raise new capital from
increasingly picky investors.