GP-Leds

The UK private equity giant wants to move a customer services-focused software provider out of its 2006-vintage Permira IV fund, Secondaries Investor has learned.

The UK private equity giant has grown its exposure to discount retailer Action, whose exiting LPs achieved a gross multiple of 31.3x.

The deal involves education provider EduCo Global being moved from the firm's 2007-vintage fund into a continuation vehicle.

The GP-led specialist, led by Sebastien Burdel and Luca Salvato, registered the fund with the Securities and Exchange Commission in September.

The niche secondaries specialist, which spun out of Coller Capital in 2004, has already done 10 deals with its recently closed Fund IV.

Wireless infrastructure operator Phoenix Tower International is being moved into a continuation vehicle, Secondaries Investor understands.

Ensuring GP-led restructurings are squeaky clean processes that leave little room for doubt has never been more important.

Jean-Baptiste Wautier, the private equity firm's investment committee chairman, says such deals and cross fund transactions can prove a nightmare to navigate.

Hands and his family will provide a cornerstone commitment to help buy Consolidated Pastoral Company from the firm's 2007-vintage Terra Firma Capital Partners III fund.

In part II of sister title Infrastructure Investor's October Deep Dive, market participants discuss how many attempted continuation funds fail to get past the first hurdle.