Recent Spin-outs of Private Equity Firms

by Lola Aboderin

  • 27 May 2010
  • PE

Preqin’s database shows that a number of private equity firms have spun-out from their parent companies in the past 15 months.

The most recent of these was the spin-out of Syntegra Capital, formerly known as SG Capital Europe, from Société Générale. The firm spun-out in December 2009 and merged with Credit Agricole Asset Management in 2010 to become Syntegra Capital. With offices in the UK, France, Germany and Italy, the firm acquires majority stakes in leading mid-market businesses and raises buyout private equity funds to back Europe-based companies with enterprise values between EUR 30 million to EUR 300 million.

Another spin-out, Albion Ventures, was created in January 2009 when it acquired the business of Close Ventures from Close Brothers Group. It is structured as a partnership and was formed by the former Close Ventures management team. The firm invests GBP 1 million to GBP 10 million in growing businesses in a wide range of sectors, from technology-orientated companies to service and asset-based businesses.

Barclays Private Equity is due to spin-out of its parent in a few months. Preqin data shows that the firm has raised over EUR 5 billion from three buyout private equity funds, and its most recent fund, Barclays Private Equity European Fund III, reached a final close in October 2007. Only accepting commitments from LPs that had committed to previous Barclays Private Equity buyout funds such as  AlpInvest Partners, Citi Private Equity and University of Texas Investment Management Company, the fund exceeded its target of EUR 2 billion, raising EUR 2.4 billion.

For more information on private equity fund managers on a global basis, please see Preqin's Fund Manager Profiles.

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