Robert Venes

US and European venture capital firm Fidelity Ventures is looking within its own and portfolio companies’ internal processes as it hunts for vertical software targets. By Robert Venes.

The European affiliate of buyout and mezzanine firm American Capital Strategies has increased its revolving credit facility to €900m, giving the company approximately €1.65bn in firepower.

Allianz Capital Partners has sold UK care homes provider Four Seasons Healthcare to an investment fund of the Qatar Investment Authority, despite interest from 3i and Terra Firma Capital Partners.

Lehman Brothers Co-Investment Partners, the co-investment fund of US bank Lehman Brothers, has joined The Carlyle Group as a shareholder in Firth Rixson, a metal manufacturing business Carlyle acquired in 2003.

Bridgepoint, a European mid-market private equity firm, has hired John Barber, a managing director at placement agent Helix Associates, to lead its investor services team.

Alpha Associates, a Swiss private equity fund of funds manager, has raised €109m for a first close of its €300m targeted second Central and Eastern Europe-focused fund of funds.

Dunedin Capital Partners has backed a £30m secondary management buyout of Capula, an IT systems integrator acquired by Bridgepoint in September 2000.

The London-based buyout firm is nearing a first close of a new fund targeting £250m for distressed opportunities in Europe.

Three groups led by Terra Firma Capital Partners, UBS and Macquarie are understood to have made formal offers in the auction for Thames Water, a UK water company owned by German utility RWE.

Kendall Court Capital Partners has closed its maiden mezzanine fund on $90m, with commitments from CDC, Citigroup Venture Capital International and TIF Ventures.