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’Not everything has rallied
European equity markets may be 40-50 per cent off their March lows, but what about private equity assets. Have they bounced? The answer from would appear to be no, judging by Monday’s news from 3i.
The listed private equity group has sold a portfolio of 29 stakes in European start-up companies for £130m to a consortium of investors made up Coller Capital,
3i to offload European assets
3i, the former powerhouse of Europe’s venture capital industry, has entered exclusive talks to sell a portfolio of 36 European venture capital investments to a consortium led by Coller Capital and HarbourVest Partners for about £100m.
Buyout groups circle HBOS assets
Specialist investors in second-hand private equity assets are circling Lloyds Banking Group and RBS in anticipation that they will restart auctions of their buy-out portfolios after abortive attempts to sell them last year.
Fund of funds in $400m IPO plan
HarbourVest, one of the biggest private equity fund of funds, will brave difficult market by unveiling plans for an IPO of a new fund on NYSE Euronext in Amsterdam that it hopes will raise $400m. Shrugging off worries about the credit squeeze’s impact on the financial system,