Tom Lamb, managing director, UK; Gonzague de Blignières, managing director, France; and Peter Hammermann, managing director, Germany, have been appointed as co-heads of Barclays Private Equity in addition to their country responsibilities. Lamb joined Barclays Private Equity 20 years ago and became managing director, UK, in 1998. De Blignières joined the firm in 1992, prior to which he worked at Banexi, the private equity arm of Banque Nationale de Paris, and Charterhouse. Before joining Barclays, Hammermann gained industrial experience at Robert Bosch GmbH and corporate finance experience at BHF bank, and was a founding partner of a German mid-market private equity fund.
- FSN Capital, the Nordic independent buyout firm, held a second close on its second fund at €114m. FSN Capital II had raised €76m at first close and is structured as a 10-year Jersey-based LP, with a €150m target. Investors in FSN II include Norwegian LP establishment names such as Argentum, KLP, Nordea, DnB NOR, Storebrand, Hoegh Capital Partners, and some of the larger pension funds.
Second close also saw the first international commitments from Lombard Darier Hentsch and Landsbanki Islands. The fund will invest in deals in the €50m to €150m range in the industrial, consumer goods and services sectors. Its primary geographic focus is Norway, with a secondary focus on Sweden and Denmark. Buy and build will be a central theme in developing the investments. FSN I closed at €54m in 2000.
- HSBC Holdings plans to sell UK fund management company Framlington, which is valued at up to £250m. HSBC is understood to prefer a management buyout, but might decide to hold an auction for the business. HSBC holds a 51% stake in the company, while US investment company Munder Capital Management owns the remaining 49%.
- Advent International is selling poultry breeding company Aviagen International Group to Erich Wesjohann, currently a 21% stakeholder in the firm. Advent acquired Aviagen in May 2003 in a secondary buyout from BC Partners. During this period, the company has made acquisitions with the purchases of Benelux-based distributor Ross EPI, Central European distributor Babolna Breeding Farms, and the US facilities and operations of turkey breeder BUTA. In the period from 2002 to 2004, Aviagen’s turnover increased by 25%.
- Carlyle has officially closed its debut European CLO, CELF, at €450m. Robert McPartlin has joined the team as financial controller from BC Partners. More than 60% of the assets are already invested in senior and mezzanine facilities of major buyout financings.
- Alfa Capital Partners, the private equity arm of Alfa Bank, closed a US$180m fund for maritime investments in Russia and other former Soviet Union countries. The Great Circle Fund counts on a significant amount of capital from US-based Overseas Private Investment Corporation (OPIC).