News & Analysis

David Burns and Richard Daw have joined the UK firm’s management committee.

Managing director Hemal Mirani has quit the Boston-based fund of funds manager, reportedly to join a ‘large buyout firm’ in Asia.

The $10m funding round will be used to augment Viva’s team, improve its mobile media platform and develop new products.

Profits in the fourth quarter for the New York-based firm, which manages more than $1tn in assets, were hit especially hard by hedge fund and real estate losses.

A $6bn fund targeting financial services closed last year will downsize to $4.5bn in commitments. TPG is telling investors an influx of US government rescue cash to the sector has diminished opportunities.

Three high profile socialists and MEPs have written to the EU Commission president to demand action proposals for private equity regulations, following a war of words triggered by remarks from EU Commissioner Charlie McCreevy in December.

The global private equity firm has promoted a slew of executives, including founders of its Mexico City and Sao Paolo offices to managing partners.

Managing director Ramesh Chakrapani has been suspended from Blackstone’s corporate advisory group after having been charged with passing on details of the 2006 Albertson’s buyout.

Only half of the 32 participating private equity firms are in full compliance with the BVCA-backed Walker Guidelines, the first report shows. The guidelines were established in 2007 by David Walker. Participating private equity firms include The Blackstone Group, 3i and Kohlberg Kravis Roberts.

CONTESTANT: Richard Claywell, Principal, Claywell & Associates, Member of the National Association of Certified Valuation Analysts