Oliver Smiddy

London-listed 3i Group drastically reduced the amount of new investments it made in Q2 compared to a year earlier as the business instead focused on cost-cutting.

A lack of exits, one-off refinancing fees and the poor performance of portfolio company ASEC Holding led to the firm posting a net loss of $26.4m, a 43% increase year-on-year.

Canadian energy specialist ARC Financial Corp has hit a hard cap of $1bn for its seventh fund, bringing its total assets under management to more than $3.7bn.

Private equity represents the second-largest segment within the alternative asset class behind real estate, according to a survey of the world’s top 100 alternatives managers - who together manage $3,136 billion.

3i chief Simon Borrows hopes measures including office closures and 160 redundancies will revive the business' share price and pave the way for a return to third party fundraising.

UK development finance institution CDC Group saw a swing of £341m from profitability in 2010 to a £72m loss last year, despite putting more capital to work in developing countries last year.

The David Bonderman and James Coulter-led firm has raised more capital over the last five years than any other group, meaning it tops the PEI 300 for the second year in succession.

Christopher Flowers, the founder of FIG-focused buyout group JC Flowers, spoke to Private Equity International to explain why he is moving to London.

The spin-out of AXA Private Equity from its French insurer parent has faltered due to structuring issues, according to sources close to the situation.

Evercore’s fund placement team believes there is cause for optimism this year despite a tough fundraising environment in 2011, but warned GPs to focus on timing, terms and delivering on past promises.