Fund Management

AXA Private Equity has become the latest buyout firm to invest in electronic payments, through the acquisition of Welcome Real-time.

The bumper results of three listed private equity vehicles suggest that the public markets remain positive about the asset class, although ICG chairman John Manser believes the coming year will see a downturn in performance.

A trade union-sponsored study has slammed the evidence cited in support of private equity’s record on job creation, one of the industry’s most commonly-used defences against accusations of asset-stripping. However, the BVCA has hit back at the claims.

The investment arm of SVG Capital has closed its latest structured fund of funds €200 million ahead of target, while introducing innovation in the fund’s gearing.

George Anson, HarbourVest’s managing director in Europe, has warned managers not to be complacent in the face of heightened interest in the asset class from regulators, legislators and unions.

Pacific Equity Partners will not give up on Flight Centre, an Australian travel agency it failed to acquire via a public-to-private process just a few months ago. The Australian buyout firm is now offering to acquire a 30 percent interest in the company via a proposed joint venture structure.

Taking advantage of the downturn in the sub-prime market, the Dallas-based private equity firm has acquired Accredited Home Lenders for $400m.

New York-based hedge fund Highbridge Capital Management has reportedly hired former Goldman Sachs director Scott Kapnick to launch its private equity business. It is the latest example of the increasing convergence between the two asset classes.

Distressed investors in China and Japan can rarely rely on formal control to improve the fortunes of their targets. Successful workouts require a blend of local talent, rigorous due diligence and above all, a healthy dose of diplomacy. Rob Kotecki reports.

The law of unintended consequences decapitates the Qantas board after the proposed $9 billion de-listing of Australia's national airline fails and forces its most vigorous proponent to quit.