StepStone Group has completed the transaction whereby Citi transferred the management of certain of its fund of funds, mezzanine funds, feeder funds, and co-investment business to StepStone. In connection with this event, StepStone will provide ongoing management and advisory services for certain of CPE’s USD4bn fund of funds, mezzanine, feeder,
CommScope, a provider of infrastructure solutions for communications networks, has entered into a definitive merger agreement with alternative asset manager The Carlyle Group in a transaction valued at approximately USD3.9bn that will result in CommScope becoming a private company. The transaction is expected to close in the first quarter
Kohlberg Kravis Roberts has formed a partnership with RPM Energy, a privately-owned oil and gas exploration and development company led by energy professionals Claire Scobee Farley and David Rockecharlie. The partnership, RPM Energy Partners, will target opportunities to be a joint venture partner with E&P companies that are well positioned
Guido Boysen, CEO of GroFin Africa, says that the capital needed to drive economic growth in Africa certainly exists, but is being invested in the wrong asset class. Foreign direct investment in Africa has increased from USD9 billion in 2000 to USD62 billion in 2008-almost as large as the flow
TxVia, a provider of processing technology for prepaid and emerging payments, has received a USD27.5m series D financing led by new investor Oak Investment Partners. Existing institutional investors, including Bain Capital Ventures, Espírito Santo Ventures and Village Ventures, also participated. The latest funding provides TxVia with expanded resources to respond
J.P. Morgan Private Equity’s net asset value per USD equity share reached USD1.29 at 30 September 2010, representing a 2.4 per cent increase for the month and a 0.8 per cent increase for the quarter. JPEL’s share price ended the month at a discount of 14.7 per cent to the
Celtic Therapeutics, a successor firm to Celtic Pharma, and Resolvyx Pharmaceuticals have entered into an option agreement relating to Resolvyx’s RX-10045, a late-stage programme for the treatment of dry eye syndrome and other ophthalmic conditions. In connection with the RX-10045 option agreement, Celtic Therapeutics purchased a note convertible into Resolvyx
New hedge fund and securities regulation through measures such as the Dodd-Frank legislation in the US and the European Union’s Directive on Alternative Investment Fund Managers are indicative of a changed global order, according to the International Organisation of Securities Commissions. Iosco’s new principles for securities regulation represent a paradigm
The total value of European private equity backed transactions reached EUR23.9bn in Q3 2010, close to the total value amassed in the entire first half of the year and the highest quarterly value figure recorded since the second quarter of 2008. This latest quarterly value is more than 80 per
Offers.com has closed a USD7m growth equity investment from Susquehanna Growth Equity. The Austin-based savings resource specialises in the online coupons and deals segment. The minority investment will help the company accelerate its growth and expansion plans. Offers.com was launched in February 2009 with the goal of helping consumers find
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