Amanda Janis
The asset management arm of Dutch banking group Rabobank is raising its second fund of funds dedicated to responsible investing and outperforming ‘mainstream private equity’.
The publicly listed private equity firm has said the fall in its share price Tuesday was probably due to an unnamed financial institution being forced to unwind a Eurazeo securities-backed loan, to which Lehman was the counterparty.
Bob Stefanowski, a 14-year General Electric veteran who most recently headed the firm’s European corporate finance division, will lead 3i’s push into North American growth and infrastructure investments.
Madrid-based infrastructure and real estate developer Accion is selling a 75 percent stake in its funeral services company, valuing the business at €330m.
Carlyle, General Atlantic, Hellman & Friedman and Blackstone have been reported as potential buyers of Lehman Brothers divisions including its private equity arm, as the beleaguered investment bank looks to shore up its balance sheet.
The Bahrain-based investment bank has completed what it says is France’s largest LBO this year, in the form of a secondary deal for Compagnie Européenne de Prestations Logistiques. Sagard purchased the company in 2005 for an undisclosed sum, and has exited for an estimated €500m.
The publicly traded Canadian buyout firm expects to hold a final close on its third mega-fund in early 2009. CEO Gerald Schwartz has said despite having done no deals in the second quarter, Onex sees attractive opportunities and is not discouraged by credit conditions.
The US investment bank continues to enhance its private equity activities in the region, closing on one-third of the capital it is raising for a pan-Asian infrastructure fund.
The Dubai private equity group has teamed with Dubai-backed real estate developer Nakheel to purchase a 20 percent stake in Cirque du Soleil. Famous for unusual live performances, the entertainment company will develop a permanent show on Dubai’s Palm Jumeirah island.
Buyout firms have long been labour union targets. As LPs fall into their sights, it would behoove public pensions to extol private equity’s advantages, writes Amanda Janis.