Candover is preparing to hand back much of the €3bn (£2.7bn) it raised from investors for its latest buy-out fund, in a humbling blow to one of the UK’s biggest private equity groups. The move, announced Tuesday, could also see Candover launch a rights issue and renegotiate its bank debts, mirroring similar decisions by other buyout groups including Permira in the UK and TPG in the US, which have also handed back unused capital to investors.

This entry was posted by Gwen Robinson on Wednesday, February 18th, 2009 at 5:32 and is filed under Capital markets, M&A, Private equity. Tagged with candover. Edit this entry.