PEI Staff

New Enterprise Associates enjoys success with SMIC IPO

A recent ILPA meeting focused on the secondary market and the allure of liquidity

Continental Europe is today's destination of choice for big buyout

The securitisation of UK motorway services group Welcome Break in its buyout from Granada by Investcorp in 1997 was hailed as another example of how this technique was empowering sponsors. Today's acrimonious war of nerves between the company's equity sponsor, bondholders and in particular a hedge fund suggests that not all securitisation works though. The Deal Mechanic investigates why

Electra Partners Europe has sold Premium Credit, a UK finance company, to MBNA Europe for £67m, achieving an IRR of 29 percent.

Techno Venture Management, the German-US venture capital firm, has promoted Stephen Hoffman to general partner and Josef Moosholzer to venture partner.

Sterling Capital Partners is backing the nationwide expansion of Florida Coastal School of Law, a for-profit law school.

Onex Partners, the $1bn-plus private equity fund controlled by Canadian conglomerate Onex Corporation, has completed its first investment, taking a 24 percent stake in US healthcare group Magellan in a $100m deal.

… the tough get data. Private equity firms churn through massive amounts of proprietary and third-party performance data, and the demand for more statistics is increasing. While GPs and LPs can agree over the quality and accuracy of these numbers, their manipulation raises questions, writes Art Janik

The maturation of the private equity market is creating a new class of investors who are faced with a luxury of choices: in-house versus outsourced investment staff; separate accounts vs. funds of funds, set menus versus ‘Chinese menus.’ Be careful what you order. David Snow reports