Up to 40% of private equity groups may fail (Fund News)
The deepening economic crisis could see up to 40 per cent of private-equity firms go out of business within the next three years as their portfolio companies default on debts, according to an analysis by the Boston Consulting Group and Spainâ??s IESE Business School.
SVG Capital seeks £200m from investors (Fund News)
SVG Capital, which is the largest investor in funds run by Permira, the private equity firm, is raising around £200m from investors at 100p a share. It has cut its commitments to invest with Permira by nearly £800m, to £343.8m, and renegotiated covenants with its lenders.
U.S. Securities and Exchange Commission Chairman Christopher Cox said the agency failed to act for almost a decade on "credible and specific allegations" of wrongdoing by Bernard Madoff.