Apax Partners is planning to raise €11 billion ($14.5 billion) for its next buyout fund, Reuters reported, citing an article in the Financial Times. The paper reported that Apax had invested more than 60 percent of its €11.2 billion fund, raised in 2007. The firm is currently working to close an $8.5 billion acquisition of Danish cleaning company ISS. When that deal closes, the current fund will be 75 percent committed, Reuters said.
The Carlyle Group is seen as a likely buyer for Dutch buyout investor AlpInvest, Reuters reported, citing Dutch financial daily Het Financieele Dagblad. A sale of AlpInvest is expected by the end of the year. At the end of 2009, the Dutch firm had €29 billion euros invested for its owners, Dutch pension managers APG and PGGM, Reuters said.
The Carlyle Group may help Taiwan stabilize its currency by exchanging the $1.3 billion in Taiwan dollars the buyout shop received from the sale of its Kbro cable TV unit, Reuters said. Taiwan’s central bank has been battling surges in the currency, and intervening at the end of each day to bring the currency down, Reuters said.
Catalyst Principal Partners will launch a $100 million east Africa fund in January, Reuters reported, as private equity firms move into east Africa. Catalyst will focus on opportunities in Kenya, Uganda, Tanzania, Rwanda, Democratic Republic of Congo, Ethiopia and Zambia. The firm will invest in the consumer, services and industrial sectors. At least 26 private equity and venture capital firms are actively working in the region, Reuters said.
CDB Capital, a unit of China Development Bank, plans to launch a 60 billion yuan ($9 billion) fund of funds for private equity and venture capital, Reuters reported. The fund would allot two-thirds of its capital for private equity and the remaining third for venture capital deals. CDB aims to raise an initial 15 billion yuan this year, with a final close by the end of 2011, Reuters said.
EQT Credit Limited has closed on €350 million ($463.4 million) for its EQT Credit fund. The fund, advised by Swedish private equity firm EQT Partners’S credit team, will focus on investing in the debt of operationally sound, but over-leveraged mid-market European companies.
Chinese private equity firm Hony Capital plans to raise 10 billion yuan ($1.5 billion) for its second yuan-denominated fund, Reuters reported. The firm will invest across industries, including pharmaceuticals, energy and financial services. Hony currently has more than 30 billion yuan under management, Reuters said.
Kohlberg Kravis Roberts & Co. may increase its $1.7 billion bid for Australian fund manager Perpetual, Reuters reported, adding that the firm had recently received new financial data on the company. Any increase would be small, and “well below 10 percent,” Reuters said.
Australian property firm Lend Lease has launched a £220 million ($345.9 million) fund to invest in health care, education and accommodation projects across the United Kingdom, Reuters reported.
Lexington Partners said it has agreed to buy a private equity portfolio worth £470 million ($730 million) from Lloyds Banking Group. The deal is expected to close in first quarter. Financial terms weren’t disclosed. Lexington, of New York, is a secondary firm.
Australian investor Macquarie is planning to launch a fourth European fund focused on infrastructure deals, Reuters reported. The fund, which will likely exceed €1 billion, is expected to launch in the first half of 2011. The firm’s first three infrastructure funds amounted to €1.5 billion ($1.98 billion), €4.6 billion and €1.2 billion, Reuters said.
MidCap Financial announced that one of its financing units has closed a $400 million credit facility with a bank group led by Wells Fargo Capital Finance. SunTrust Bank, Goldman Sachs Bank USA, and Key Equipment Finance provided commitments. The loan is an increase from an earlier facility that MidCap had in place with Wells Fargo. Bethesda, Md.-based MidCap, a commercial financing company, focuses on health care companies.
Abu Dhabi investment fund Mubadala is pouring $500 million into The Carlyle Group, increasing its stake to help expand product offerings to investors, Reuters reported. Mubadala took a 7.5 percent stake in Carlyle in 2007. In return for the newest investment, Mubadala will get a combination of equity and convertible subordinated notes, Reuters said.
Quadrant, a mid-market buyout shop based in Australia, has closed its new fund with A$750 million ($750.7 million), Reuters reported. The fund was raised in only two months of fundraising, Reuters said.