Exits

EQT has sold its remaining stake in Symrise, a German flavouring business. With a total return of about €1.1 billion, the investment has proved to be one of the most successful European private equity deals to date.

Emerging Capital Partners, the Washington DC-based offshoot of AIG Africa Infrastructure, has rounded up $523 million for a new fund targeting the continent. Already the firm is prepping a 3x exit from the new fund.

3i’s annual results revealed another strong year, with record realisations and investment up 42 percent. The group will return £800 million to shareholders.

3i said in a pre-close update that it will pay out another £800 million to shareholders after a strong year for investment and realisations. It has now made £2 billion of dividend awards in three years.

As expected, UK-listed buyout group 3i has sold UK car park operator NCP to Macquarie for £790m, realising a substantial profit just a year and a half after buying the company.

European mezzanine and private equity firm Mezzanine Management has held a first close on its second central and eastern European fund, Accession Mezzanine Capital II, at €100m.

3i, a global private equity firm, has reported £627m of realisations and £568m of investments in its pre-close period briefing. The firm expects to close its €5bn fifth European mid-market fund in the next few weeks.

The mezzanine and preferred equity investor, founded by two former bankers, has proved its model to investors and raised twice as much as its 2004 debut.

Bridgepoint, a European mid-market private equity firm, has bolstered its European advisory committee with the appointment of Sir James Crosby, former chief executive officer of HBOS.

Private equity has extended to the far corners of the world, cropping up in some unexpected locales. Judy Kuan speaks with Robert Fogler, co-founder of the Rwanda-focused Thousand Hills Venture Fund, about the role for private equity in a smaller market – but one that might well be on a fast-track for growth.