Alternative investment specialist LGT Capital Partners is to acquire European Capital Fund Management, a London- and Paris-based private debt manager, from companies controlled by Ares Management. Subject to regulatory approvals, the transaction is expected to close in the second quarter of 2017. The purchase price has not been disclosed. In
ClearLight Partners has sold Consumer Safety Technology (CST or Intoxalock) to Welsh, Carson, Anderson & Stowe for an undisclosed figure. Headquartered in Des Moines, Iowa, Intoxalock provides ignition interlock devices and accompanying driver monitoring services. Ignition interlock devices are used primarily in DUI drivers’ vehicles to prevent the vehicle
Austin-based venture capital fund Next Coast Ventures has closed its debut debt investment fund at USD85 million, oversubscribed by USD35 million. One of the largest funds in Austin within the last three years, Next Coast’s limited partners include institutional investors, funds of funds and family offices. “Austin has already
Socially responsible lender LendUp has closed another USD100 million credit facility with investment firm Victory Park Capital (VPC) to fund future loan growth. The facility brings LendUp’s total equity and debt financing to USD325 million. The firm has also now originated more than 3.3 million loans and surpassed USD1
Venture capital firm Sofinnova Partners has held the first closing of Sofinnova Industrial Biotech I at EUR106 million. The fund, dedicated to renewable chemistry, follows a series of nine investments in the sector since 2009. Sofinnova IB I will be invested in start-ups along the value chain from the transformation
Private equity firm Sentinel Capital Partners has acquired cabi, a direct seller of women’s apparel in the US, Canada and the UK. Terms of the deal have not been disclosed. Founded in 2002, cabi sells high-quality, accessibly-priced designer clothing to a broad, female demographic via a proprietary network of
Private equity firm Quad-C Management has completed the sale of its portfolio investment Curvature, an IT services company and provider of new and pre-owned network hardware and IT infrastructure services. Through the deal, Curvature merged with Partners Group portfolio company SMS Systems Maintenance Services to form SMS | Curvature. Terms
London-based alternatives investment manager Astarte Capital Partners has formed a partnership with BlueLake Associates, a Zug-based investment consultancy and asset allocation specialist. Through this partnership, Astarte will act as the private equity and real assets adviser to BlueLake, while BlueLake will contribute macroeconomic, asset allocation and risk management advisory services
Henkel has entered into exclusive negotiations with GCP Applied Technologies to acquire its global Darex Packaging Technologies business for USD1.05 million (EUR995 million) on a cash and debt free basis. Darex is based in Cambridge, Massachusetts and supplies high-performance sealants and coatings for the metal packaging industry around the world.
The risks posed to the UK private equity industry by recent political events have been grossly exaggerated, according to Matthew Hudson, chief executive of MJ Hudson, the alternative assets consultancy. Hudson (pictured) sees the emergence of passive private equity funds and the trillion-user base of large retail platforms, such as Snap and
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