Toby Lewis

Investment banking revenues from buyout firms have plummeted and deal volume was down by 65 percent in a malignant quarter for mega-buyout firms.

The firm’s realisation of its 25 percent stake in dairy company Senoble and its acquisition of a holding in insurer Hyperion are another instance of its increasing activity in growth capital.

The firm has invested or committed most of the funds it raised in its initial public offering in April last year, ahead of its two year target to invest the money.

The UK investment firm has carried out the second AIM take-private this year as European mid-market buyout firms continue investing.

The global buyout firm has closed its KKR 2006 fund slightly shy of its $18 billion hard cap.

The FTSE 100 company, led by Philip Yea, remains confident that despite difficult market conditions, which may slow down its mid-market buyout business, its recently expanded growth capital team will be sheltered from the credit storm.

The sovereign wealth funds of the two Middle Eastern countries have teamed up to launch a joint fund, allowing the UAE’s International Petroleum Investment Company to broaden its scope away from the energy sector.

The deal provides a partial exit for rival European buyout firm Cinven, valuing the two cable companies at more than double the cost of the buy and build strategy which formed them over three years.

The move underlines the firm’s rapid expansion of its growth capital business in contrast to its smaller commitments to venture capital following a wave of post dotcom crash write-downs.

The emerging markets firm acquired the company alongside black economic empowerment partners so that it could appeal to wide client base in the country.