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Category: Distressed

Secondaries private equity dealmaking falls apart due to Covid – but record fundraising leaves sector in rude health

Secondaries private equity dealmaking fell off a cliff in the first half of the year as the coronavirus crisis saw deal value drop more than 56% compared to the same period in 2019, new research

KKR seals record fundraising quarter amid push to profit from coronavirus opportunity

Global private equity giant KKR raised a record $16.4bn last quarter amid a powerful push to cash in on investment opportunities thrown up by the ongoing coronavirus crisis.

Ocean Avenue Has Hard Cap Close

Ocean Avenue Capital Partners has closed Ocean Avenue Fund IV LP at its hard cap of $350 million. The new fund had an original target of $300 million. Investors in Fund IV include public and

Pentapart buys Westiform Germany from insolvency

Pentapart Beteiligungskapital has acquired Germany-based signage company Westiform after the business filed for administration in October 2019.

Epiris deal looks to rescue UK’s Bella Italia, Café Rouge, Las Iguanas following Covid-19 lockdown

UK private equity house Epiris has swooped to buy restaurant chains Bella Italia, Café Rouge and Las Iguanas in a bid to rescue the eateries following their long closures due the coronavirus crisis.

Europe on course for highest rate of corporate debt defaults since 2008

Moody’s expects the corporate debt default rate in Europe, the Middle East and Africa to reach 6.2% in 12 months – the highest level since the financial crisis

Pets a Good Bet

According to a new study by Katten, pet owners’ love for their animals, along with the impact of COVID-19, are among the reasons decision-makers feel bullish about the future of private equity and animal care.

Apollo, other PE houses said to be wary of debt-heavy Europcar buyout amid Covid-19 uncertainty

Private equity firms including Apollo Global reportedly remain wary of investing in troubled car rental business Europcar amid owner Eurazeo asking for last-ditch bids ahead of a potential restructuring.

VC investment in UK fintech slumps 40% amid Covid-19 crisis

There were 167 deals worth $1.84bn during the first six months of 2020, according to figures from UK fintech industry body Innovate Finance

Humvee Maker Sold to KPS

KPS Capital Partners has agreed to acquire AM General, a military vehicle and contract automotive manufacturer, from MacAndrews & Forbes, an investment firm controlled by Ronald Perelman. AM General manufactures specialized vehicles for military and

KPS Stalking Horse for Briggs & Stratton

KPS Capital Partners has agreed to acquire the assets of small engine manufacturer Briggs & Stratton, including the equity of foreign subsidiaries, for approximately $550 million. On July 20, Briggs & Stratton voluntarily filed for

Ex-Barclays exec worried about Qatar loan damaging his prospects

Lawyer’s for Amanda Staveley's private equity firm PCP Capital Partners, which is suing Barclays, pressed Jones on the details of the loan to Qatar at the height of the financial crisis

PE exits hit decade low in Q2

The volume of exits by private equity players across Europe fell by 43% year-on-year in Q2 2020 as the coronavirus crisis took hold, according to Unquote Data.

City grandee Helena Morrissey calls on finance firms to shake up senior ranks after virus crisis

The coronavirus crisis will finally prompt financial services firms to revamp outdated systems and create 'real change'

Former Barclays executive’s sexist comments against financier Staveley revealed in court

Stephen Jones's comments about Amanda Staveley have come to light during the £1.5bn High Court battle over the lender’s financial crisis cash call

McTrek acquired by GA Europe and CM Solutions

Retail turnaround firms GA Europe and CM Solutions have acquired Germany-based outdoor clothing retailer Yeah!, which operates the brand McTrek, following the company's insolvency filing in April 2020.

GP Profile: Emeram Capital Partners

Christian Näther, senior partner at Emeram Capital Partners, speaks to Unquote about how the Munich-headquartered GP's portfolio has fared during the coronavirus crisis, the GP's fundraising plans and its current M&A pipeline

Private equity showing signs of coronavirus recovery – but industry has a long way to go

Private equity investing is showing signs of recovery after being hammered by the coronavirus crisis - but has some way to go to recover to its recent highs, new research shows.

Forerunner Ventures raises $500m for new fund launched at height of Covid-19 crisis

Consumer-focused early-stage investment house Forerunner Ventures has pulled in $500m for its latest fundraise in a rapid fundraise launched and completed amid the coronavirus crisis.

Eurazeo-backed student tour company files for bankruptcy over Covid-19 disruption

The chapter 11 filing by WorldStrides underscores the pandemic’s damage to companies in the travel industry

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