Private Equity
PE briefly noted: Dec. 18, 2007
edited by Jeffrey Kanige
324 words
18 December 2007
Copyright 2007, The Deal, LLC. All Rights Reserved

Greenhill closes European fund

New York buyout firm Greenhill & Co. announced Monday the final closing of a European midmarket buyout fund, with total committed capital of £191 million ($386 million). The fund, Greenhill Capital Partners Europe LP, will include a £25 million commitment from Greenhill & Co. and a further £42 million in personal commitments from the firm's managing directors and professional staff; the remainder will come from external investors. The fund will buy controlling or influential minority stakes in mid-market U.K. and continental European companies with enterprise values between £50 million and £250 million, with equity investments in each company of between £10 million and £30 million. — Jonathan Braude

Beringea backs Starbridge Media

Media-oriented venture capital firm Beringea LLC of Los Angeles said it had made a follow-on investment in Starbridge Media Group Inc. of Washington, a marketing and TV production company featuring sports content. Starbridge has produced programming and provided sponsorship and representation related to stock car-sanctioning body NASCAR and professional sports teams, including the Washington Redskins and Philadelphia Eagles. — Paul Bonanos

Conduit Cap sells two plants

Conduit Capital Partners LLC said Monday that it sold two assets held by its Latin Power funds, a diesel-fired generation facility called Jamaica Energy Partners and Colombia-based thermal power plant Mamonal for a combined $110 million. It concurrently announced it would sell a 13.2% interest in Peru-based natural gas power plant Aguaytia for undisclosed terms. Jamaica Energy sold for $92.5 million, while Mamonal, also known as Proelectrica, fetched $17.5 million. Once the Aguaytia deal closes, Conduit's $100 million Latin Power I will be fully liquidated. Mamonal was held by Latin Power Fund I, while Jamaica Energy was an investment of Conduit's $157 million Latin Power Fund II. BNP Paribas SA advised Conduit. — Christine Idzelis



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