PRESS DIGEST- Financial Times - June 3

June 3 Mon Jun 2, 2014 9:08pm EDT

June 3 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.

Headlines

KKR CLOSES $510 MLN EQUITIES HEDGE FUND

(link.reuters.com/fyr79v)

CINVEN PUTS SEBIA ON THE PRIVATE EQUITY MONEY-GO-ROUND

(link.reuters.com/gyr79v)

TULLETT PREBON IN ADVANCED TALKS WITH POSSIBLE SUCCESSOR TO SMITH

(link.reuters.com/nyr79v)

BOFA POACHES VETERAN BANKER FROM UBS

(link.reuters.com/jyr79v)

UK WATCHDOG TO PROBE G4S ISRAELI CONTRACT

(link.reuters.com/kyr79v)

Overview

U.S. private equity firm KKR & Co LP has shuttered its $510 million equities hedge fund a mere three years after roping in a group of former Goldman Sachs proprietary traders to run it.

European private equity firms Montagu and Astorg are to buy back French diagnostics company Sebia four years after selling it to private equity group Cinven, highlighting a scarcity of buyout opportunities in Europe.

British interdealer broker Tullett Prebon is in advanced talks to appoint a successor to Chief Executive Terry Smith. Former Nomura and Lehman Brothers executive John Phizackerley is the leading contender, two sources said.

Bank of America Merrill Lynch has poached UK banking industry veteran Tim Waddell from rival UBS to be its new vice-chairman of global corporate and investment banking for Europe, the Middle East and Africa.

Global security company G4S is under further pressure after a British government-funded watchdog agreed to investigate its activities in Israel and the occupied Palestinian territories. (Compiled by Richa Naidu in Bangalore; Editing by Eric Walsh)