Toby Lewis

The former chief executive of UK motoring group AA Tim Parker has joined the European buyout firm, where he has worked on two highly profitable deals earning him the nickname “the Prince of Darkness”.

The Dubai investment firm’s late-stage talks to buy a stake in the football club have ended as buyout legend Tom Hicks, one of two co-owners of the club, exercised a veto on any sale of the club’s shares.

Buyouts in the regulated utility services sector continue as firms seek defensive sectors for a possible economic downturn.

The listed alternative asset manager incurred losses on its investments in four Permira portfolio companies last year, but its fund management business grew and Permira made ten profitable realisations.

The first-time venture fund is backed by financial institutions aiming to capitalise on the numerous possibilities for green technologies in Europe.

Investment banks Qatar Islamic Bank, QInvest and Silver Leaf Capital are reportedly raising a country fund in another Middle East fundraising development this week.

The UK buyout firm’s acquisition at around 14 times EBITA provided an exit for Bridgepoint, which achieved a two and a half times return over two and a half years.

CVC, led by chairman Michael Smith, has raised Europe’s largest-ever private equity fund in spite of credit market problems making larger buyouts difficult to achieve.

The two Middle Eastern firms and regional bank Dubai Islamic Bank have raised a Shariah-compliant vehicle that will invest alongside Global Investment House’s planned $1.5 billion global fund.

Pantheon Ventures’ listed fund of funds achieved a rise in net asset value per share during the second half of 2007, which ensured that it outperformed stock market benchmarks.