PEI Staff

Personal networks, relationships and access to the right people at the right time are essential no matter where in the world private equity transactions are being pursued. But private equity investors and their financiers, familiar with the whole of Europe's commercial fabric, say there are few countries where being part of the country's inner circle is more important than Italy. It's not as if the country can't deliver exceptional deals when the ingredients are right: witness the ‡5.65 billion buyout in June last year of Seat Pagine Gialle ? Europe's biggest buyout ever and recently voted by our readers as the 2003 European Buyout of the Year. So how does private equity work in Italy? Philip Borel asks Gianfilippo Cuneo, someone who can talk about private equity Italian style with insider's knowledge, to share his views.

As the funding package for Bain's Brenntag acquisition demonstrates, second lien loans may be the latest US debt instrument to finally become established in Europe. The Deal Mechanic looks at how it fits into the capital structure

The recent sale of private equity-backed KorAm Bank to Citigroup was a milestone for the industry in Asia

GTCR has a big hit and a near miss with the same CEO

UK portfolio companies say their private equity owners are too hands-off. Are they right?

Scandinavian buyout firm Altor Equity Partners has made two investments from its debut fund, which closed on E650m earlier in the year.

Amadeus, Apax lead Acol first round; Gyros closes largest Nordic biotech round; HBM leads E13.8m Ingenium round; SG Capital Europe takes Lince stake

Barclays Private Equity has sold its 66 per cent stake in Preferred Mortgages to Lehman Brothers for 2.3 times its original investment, generating an IRR of over 40 per cent.

The use of high yield financing is a staple feature of leveraged buyouts, but participants in deals may not appreciate the need for precisely tailored covenants. Valerie Jacob, co-managing partner of Fried, Frank, Harris, Schriver & Jacobson, highlights the keys to investor protection.

The global private equity house has paid an undisclosed sum for one of Germany’s largest privately-owned industrial and building electronics component producers.