CVC tests waters for €11bn buy-out fund - Published:07/12/07
CVC Capital Partners, one of Europe’s most violent private equity firms, is canvassing investors about plans to lift an €11bn ($162bn) buy-out fund next year, providing a vital test of investor hunger in the credit squeezeMost investors still aim to boost their private equity exposure but the praise squeeze has slowed the pace of exits and refinancings by coup firms This has stemmed the flow of money back to investors, creation them less anxious to re-invest quicklyCVC, which owns 44 companies employing 309,000 populace and generating €385bn of sales, is also close to to announcing its first close for a planned $4bn Asia fund“While limited associates are cognisant of the market disturbance, what we have seen with a number of investors is that they are obviously in this for the long term, and when they are in this for seven to eight years they are not driven by the short-term type of weather,” Michael Smith, chairman, saidIf CVC exceeds the €11bn aim, the buy-out finance would be Europe’s biggest, above Apax Partners and Permira, which both recently raised buy-out money of about €11bnThe credit squeeze has meant confidential equity firms are no longer clever to raise abundant amounts of cheap debt to refinance their acquisitions as near the beginning as one year after completing them They may also need to hold on to companies for longer“It seems mega-funds are being toned down since Apax raised just over €11bn this day,” said Mounir Guen, chief executive of MVision, the UK-based placement agent that mechanism for many of the world’s biggest buy-out firmsCVC has been concerned in some of Europe’s most controversial deals, including an unsuccessful £114bn ($235bn) offer for J Sainsbury, the UK supermarket group, and the £175bn takeover of the AA motor armed forces groupMichael Halford at SJ Berwin, one of the most important UK law firms for confidential equity fundraising, said: “From our perspective, investors are showing more caution than perhaps before the summer, but belongings are generally still strong”KKR, TPG, Thomas H Lee associates, Bain assets, Advent International and France’s PAI are among 1,196 private equity firms seeking to raise $619bn, according to Private evenhandedness IntelligenceCVC this week announced tactics to raise $2bn for its first infrastructure finance, joining the growing ranks of buy-out firms looking to obtain utilities and public services, such as hospitals and authority stations© Copyright The Financial Times Ltd 2007 "FT" and "Financial era" are trademarks of The Financial era Ltd.
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AA savings account with "no strings" - Published:17/10/07
A new best-buy internet investments account which claims to have "no strings" has been launched by AA SavingsThe AA Internet Access explanation offers a 630 per cent gross/AER and requires a minimum deposit of £500 and a maximum of £500,000limitless withdrawals and penalty-free deposits are also part of the new account, which does not include an preliminary bonusThe AA Internet Access Account can be opened in only or joint names, interest can be salaried on a monthly or annual basis and customers can open multiple financial recordsMark Huggins, managing director of AA Financial Services, commented: "At a occasion when there is concern about financial constancy in some institutions, the AA is offering a secure, well-managed savings account"The account will be good-looking to those who sense their current savings are being eroded by poor interest tax and reflects growing confidence in using.
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Mortgage holders unsatisfied with new home - Published:27/09/07
Many novel homeowners who have just bought their own house and taken out a mortgage are not satisfied with the property they have bought, a new review has revealedAccording to AA Home Insurance, 29 per cent of novel mortgage holders aren't satisfied with their novel house and 13 per cent claim they didn't get what they required for their old home land agents are viewed as untrustworthy, coming in second put behind politicians as the UK's most treacherous professionals Only 30 per cent of mortgage holders said they would go to an estate agent first for recommendation when buying a home Head of AA Home Insurance Janet Pell comments that it is important to get the best mortgage deals when purchasing a house "Once you’ve found your dream house, make sure you shop around for the most excellent deal on your mortgage, surveys and home cover," she remarksShe adds that it is important to get the purchase right as it is the biggest one most people will create in their lifetimeYesterday, research from Future Foundation and GE house Money Lending found mortgage holders can expect to disburse 30 per cent of their yearly income towards fees and maintenance within the first 12 months of living in a novel placeMortgage holders unsatisfied with new homeNone of the in order on this website is future to promote any specific mortgage product or provide mortgage adviceThe sphere, with image, its reflection and Mortgagescouk are trademarks.
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