Vivendi Universal has chosen US venture capital firm Global Asset Capital to take over its struggling Viventures unit.
The US life sciences investor has sold the hepatitis and HIV treatment company to Novartis in a deal that values the business at up to $612m.
The UK bank will retain a near-20 per cent stake in Montagu Private Equity, which will remain the bank’s primary vehicle for European private equity investment.
CDC Ixis leads E10m photonics round; VC Strathdon raises further £2m; Cazenove backs Empower Interactive; European VCs complete Kaidara E8m round
Carlyle, Bain Capital and Texas Pacific have reportedly joined forces to back oil billionaire Marvin Davis in his pursuit of Vivendi’s US media assets.
Kurt Björklund is to head up Permira’s new presence in the Nordic region, working alongside the newly appointed Ole Oftedal, who joins as an industrial partner.
Texas-based Sevin Rosen Funds has become the latest US venture capital firm to cut its fund back, from $875m to $600m.
The Japanese venture firm has announced the second cutback from one of its VC funds, the fifteenth reduction of its kind since the beginning of 2002.
The Los Angeles-based firm has exceeded its original $1.5bn target for its fourth mid-market fund.
The Finnish private equity investor has closed its latest split-focus fund on E253m, below the original target of E300m.