Private equity correspondent
Simon's Feed
May 16, 2012

3i seen unveiling new CEO with full-year results

LONDON (Reuters) – 3i (III.L: Quote, Profile, Research), Britain’s largest listed private equity investment group, is thought likely to name a new chief executive when it reports full-year results on Thursday.

Simon Borrows, chief investment officer since joining 3i last year, was expected to be named as the successor to Michael Queen as CEO of a company whose investments range from lingerie maker Agent Provocateur to Spanish wind farm builder GES.

May 14, 2012

Buyers battling it out for Global Blue – bankers

LONDON, May 14 (Reuters) – Private equity firms and trade
buyers are set to fight it out for Equistone Partners Europe’s
sale of tax-free shopping company Global Blue next week which
could fetch up to 1 billion euros ($1.3 billion), banking
sources said on Monday.

Boston-based TH Lee Partners, BC Partners, EQT and Silver
Lake Partners, which has teamed up with Switzerland’s Partners
Group, and one or two trade buyers were all due to put in bids
in the second-round auction process, banking sources said.

May 1, 2012

Taxpayers profit in Actis private equity deal

LONDON (Reuters) – The government is selling its stake in emerging markets private equity group Actis in a move that could pull in tens of millions of pounds for taxpayers, reversing what it viewed as a poor deal under the previous government.

Actis, one of the largest private equity investors in the world’s poorest countries, said on Tuesday it is buying out the government’s 40 percent stake in the company for 8 million pounds in cash.

May 1, 2012

British taxpayers profit in Actis private equity deal

LONDON, May 1 (Reuters) – The British government is selling
its stake in emerging markets private equity group Actis in a
move that could pull in tens of millions of pounds for British
taxpayers, reversing what it viewed as a poor deal under the
previous government.

Actis, one of the largest private equity investors in the
world’s poorest countries, said on Tuesday it is buying out the
government’s 40 percent stake in the company for 8 million
pounds ($13 million) in cash.

Apr 30, 2012

Terra Firma stakes $1.3 billion on UK residential care

LONDON (Reuters) – Terra Firma TERA.UL is stepping into Britain’s care homes business with an 825-million pound ($1.34 billion) deal to buy Four Seasons Health, the country’s biggest operator in a burgeoning sector dogged by political and public controversy.

Private equity activity in the sector has been scrutinized since the failure of Southern Cross, a listed group previously owned by Blackstone (BX.N: Quote, Profile, Research, Stock Buzz) and which collapsed last year.

Apr 30, 2012

Terra Firma agrees to £825 million Four Seasons deal

LONDON (Reuters) – Private equity group Terra Firma TERA.UL is to buy Britain’s biggest care home operator Four Seasons Health Care in a deal worth 825 million pounds ($1.34 billion), hoping to benefit from the long-term growth market in care for the elderly.

The deal will mark a reprieve for Four Seasons, some 40 percent owned by Royal Bank of Scotland (RBS.L: Quote, Profile, Research, Stock Buzz), which has been looking to refinance some 780 million pounds of debt before a September repayment deadline.

Apr 30, 2012

Terra Firma agrees 825 million pounds Four Seasons deal

LONDON (Reuters) – Private equity group Terra Firma TERA.UL is to buy Britain’s biggest care home operator Four Seasons Health Care in a deal worth 825 million pounds, hoping to benefit from the long-term growth market in care for the elderly.

The deal will mark a reprieve for Four Seasons, some 40 percent owned by Royal Bank of Scotland (RBS.L: Quote, Profile, Research), which has been looking to refinance some 780 million pounds of debt before a September repayment deadline.

Apr 30, 2012

Terra Firma agrees 825 mln stg Four Seasons deal

LONDON, April 30 (Reuters) – Private equity group Terra
Firma is to buy Britain’s biggest care home operator
Four Seasons Health Care in a deal worth 825 million pounds
($1.34 billion), hoping to benefit from the long-term growth
market in care for the elderly.

The deal will mark a reprieve for Four Seasons, some 40
percent owned by Royal Bank of Scotland, which has been
looking to refinance some 780 million pounds of debt before a
September repayment deadline.

Apr 30, 2012

Palamon to get payout with Cambridge debt deal

LONDON, April 30 (Reuters) – Private equity firm Palamon has
completed the refinancing of its English language school group
Cambridge Education, the first time in more than a year that a
private equity house has effectively tapped British banks to pay
itself a dividend on an investment.

Palamon Capital Partners’s deal with Royal Bank of Scotland
for a new 23 million-pound ($37 million) debt package
will see it recoup 1.5 times the equity it has invested in the
business, and leaves finances for continued expansion of the
group, which provides English language training and university
foundation courses for overseas students at its schools in
London, Brighton, Cambridge and Canterbury.

Apr 26, 2012

Suitors circle $1 bln Dexia Asset Management – sources

LONDON, April 26 (Reuters) – Buyout firms are vying with
Australian group Macquarie for Franco-Belgian bank
Dexia’s $1 billion asset management arm, people
familiar with the situation said on Thursday.

State-supported Dexia is carving up its operations following
a massive loss in 2011.