Robert Venes

VNU, owned by a private equity consortium including KKR, Blackstone and Carlyle, plans to raise $1.67 billion of new debt to finance the acquisition.

UK lower mid-market firms Sovereign Capital and Palamon Capital Partners have had a busy week, with Sovereign completing two deals, while Palamon closed its €670m second fund and invested in a German corporate gift certificate company.

Bedminster Capital Management has reached its original $200m target with the first closing of SEEF II, a new vehicle focused on investments in Bulgaria, Romania, Turkey, Serbia and Croatia and other south eastern Europe markets.

London-listed European mezzanine provider ICG is growing rapidly - despite being more selective on deals than ever. Robert Venes reports.

European mezzanine provider Intermediate Capital Group also put a record amount of capital to work in the fourteen months to 2005, arranging or providing £899m of debt financing.

New Jersey-headquartered GSC Partners has closed its second European fund in a month, raising €420m of commitments for GSC European CDO Fund III.

The US-based private equity firm has had a £182.2m offer for UK ice cream maker Richmond Foods accepted by the company’s board of directors.

The ratings agency says that there are clear signs that the current scramble for assets is undermining credit discipline in the European leveraged finance market.

Mike Anderson of Intermediate Capital Group looks at hidden dangers lurking in the capital structure of leveraged buyouts.

UK serviced office provider Regus has bought back a majority stake in its Regus UK business three years after selling it to UK private equity firm Alchemy Partners.