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Toby Mitchenall

Toby Mitchenall is the Senior Editor for private equity at PEI Media. He is responsible for and regular contributor to the private equity coverage across Private Equity International, Secondaries Investor and private funds management and is based in PEI’s London office. Toby was previously a consultant advising private equity firms on marketing and public relations.
Guy Hands’ firm has avoided shrinking its €5.4bn third fund by buying out three cash-strapped LPs at ‘a small premium’.
The firm is revising its investment strategy for the fund as well as allowing investors to slash their commitments. Before any reductions the fund stands at €3bn.
As the industry steels itself against a potential regulatory backlash in Europe, certain members of the European Parliament, including Poul Nyrup Rasmussen, have railed against the pro-private equity stance of the internal markets commissioner.
The listed Permira investor has taken a number of measures to boost liquidity, including reducing by £796m its original commitment to Permira’s fourth buyout fund.
As unfunded commitments are looking harder to meet, the Euronext-listed fund of funds is receiving increased calls from its managers of distressed funds.
The UK's plan to raise taxes for the highest earners may cause investors to seek more favourable tax climates, such as Switzerland, Ireland and the Middle East, says BVCA chief executive Simon Walker. The UK's plans would see the highest earners pay almost 60 percent of their income in taxes.
The oldest buyout firm in France will go to market in January to raise the successor to its €150m small-cap fund raised in 2006. Meanwhile, its latest mid-market fund, reportedly targeting €1.2bn, will close before the end of the year.
A trio of sovereign wealth funds is in negotiations to take a stake in the UK-based private equity firm, in a move that could value the company at around £1.5bn.

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