Hedge funds fall from grace
Comments from Federal Reserve chairman Alan Greenspan at a recent private equity conference in Washington reinforced the growing sentiment, particularly in the US, that hedge funds are not worth the fees they command.
LPs: the hidden culprits of “hidden fees”
The discussion around “hidden fees” in private equity is becoming tiresome. Every month there is a deluge of articles from finance bloggers and in broadsheets lambasting the private equity industry for its lack of transparency about the fees it charges LPs.
The special ones
Sector specialists claim to be master craftsmen, but LPs still need convincing.
Eurazeo offloads one third of Moncler stake
Listed French private equity firm Eurazeo has sold 19.5 million shares in Moncler, the French-Italian upmarket coat retailer that it has backed since 2011.
IK and Nordic Capital in the running for wheelchair maker
IK Investment Partners and Nordic Capital are circling Equistone’s Sunrise Medical, a German wheelchair manufacturer, in a deal that could be valued at as much €450m.
Endless bumps up stake in The Works
Endless has increased its interest in The Works to a majority stake after acquiring the shares of departing executive chairman Anthony Solomon.
OpCapita makes two hires
OpCapita has appointed Caroline Crowley to the newly created role of director of investor relations, in a nod to the firm’s increased investor engagement following the closing of its first fund last year.
Risk Capital dives into Zoggs
Risk Capital Partners has acquired a majority stake in global swim products brand Zoggs from Kendal Group.
Quilvest pens offer for Paperchase
Quilvest is one of several investors to have tabled a formal offer to acquire Primary Capital-backed Paperchase, the stationery chain.
Inflexion hires former LDC regional head
Inflexion Private Equity has hired Carl Wormald as partner in its Manchester office.
CD&R eyes joint New Look bid with Chinese house
Clayton Dubilier & Rice has held talks with Chinese private equity house CDH about submitting a joint offer for UK fashion chain New Look, according to Sky News.
A taste of their own medicine
Former Charterhouse partner Geoffrey Arbuthnott is back in court, appealing a decision made last year against his claim that he was unfairly forced to sell his shares in the firm in 2012.
Q&A: Frank Vlayen, Waterland
Congratulations on the fundraise. Can you talk us through the decision to have an overflow fund?
For the record
Year after year we see secondaries firms raising ever larger sums of capital, and 2015 is no exception. Lexington Partners has closed its eighth secondaries fund at $10.1bn (€9.26bn), the largest amount ever raised for the strategy. Lexington has broken the record set by Ardian just last year, when the Paris-based player raised a $9bn secondaries fund. Lexington has also trumped its previous effort which totalled $7.1bn when it was closed in 2011.
Key Capital scoops 4x return on WHP Group exit
Key Capital Partners has sold telecoms support firm WHP Group to Palatine Private Equity in a transaction valued at £38m (€51.9m).
Desigual chief executive resigns
Manel Jadraque has resigned from his position as chief executive of Eurazeo-backed fashion chain Desigual following a ten-year career at the company.