This Week’s Biggest News in the Private Equity Markets – Week 25

At Private Equity Insights we have gathered this week’s biggest news in the private equity and venture capital markets.

1. U.S. Giant Targets the Super-Rich: Blackstone plans to expand into Switzerland

Leading U.S. investment company Blackstone has hired an experienced banker to help with its expansion into Switzerland.

 Blackstone has set up a legal entity in Switzerland as a basis for the expansion, according to the register of businesses. Blackstone’s Private Wealth Solutions business manages over $100 billion. In simple terms, the unit offers very wealthy private investors access to Blackstone’s alternative investment solutions platform.

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2. KKR invests $625m to buy controlling stake in Vini Cosmetics

US private equity firm KKR said it has invested $625 million in Vini Cosmetics group to acquire a controlling stake in the company that makes Fogg brand of deodorants and other consumer brands.

KKR has invested $625 million to acquire the stake in the group that is led by Darshan and Dipam Patel and Sequoia Capital.

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3. HSBC takes $2.3 billion hit with PE-sale of French retail bank

HSBC has agreed to sell its French retail bank to Cerberus-backed My Money Group in a deal which will mean a loss of around $2.3bn for the British bank but end its long struggle to dispose of the business as it focuses on Asia.

The deal announced on Friday sees HSBC take another significant step in a wider retreat from slow-growing European and North American markets where it has struggled against larger domestic players.

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