The Association of Investment Companies (AIC) has responded to suggestions by George Osborne MP, Chancellor of the Exchequer, that there is a “question mark” over the merits of Venture Capital Trusts (VCTs) and the support the scheme gives to growth businesses. Ian Sayers (pictured), Director General of AIC, says: “VCTs
Portland-based private equity group Riverlake Partners has sold SP Industries, Inc, a leading designer and manufacturer of laboratory products and pharmaceutical production equipment, to an affiliate of Graham Partners of Newtown Square, PA. “During our ownership period, several value-creating initiatives were implemented,” says Erik Krieger, founder and managing partner of
Sarona Asset Management successfully closed the 2011 series offering of its Sarona Frontier Markets Fund I LP on January 31st, with over USD22 million in investor commitments raised. The fund is a global industry first – a private equity fund-of-funds that offers investors an aggressive strategy of financial, social, and environmental targets
The early quartile rankings for both buyout and venture capital funds are an excellent predictor for future relative performance, according to the results of a study by Preqin. Some 50% of buyout funds ranked in top quartile in year four go on to be top quartile at maturity, with 75%
Pegasus Capital, an affiliate of Pegasus Capital Advisors, and Intersection, have created of Re Community Holdings, (ReCommunity), a new entity formed in partnership with MissionPoint Capital Partners, HarbourVest Partners LLC, and Ares Capital Corporation, and following the closing of an acquisition of select recycling assets of FCR, Inc. ReCommunity
Private equity firm Francisco Partners (FP) has announced the sale of AdvancedMD Software, Inc (AdvancedMD) to Automatic Data Processing, Inc. (ADP). The transaction closed on February 28, 2011. Terms of the transaction were not disclosed. “The AdvancedMD team has done a terrific job of building out their innovative, cloud-based offering
LDC-backed Aesica Pharmaceuticals has successfully completed the acquisition of three manufacturing sites in Germany and Italy from leading biopharma company, UCB. Aesica was formed in September 2004 through a management buyout of a former BASF site in Cramlington, Northumberland, backed by LDC, which took a significant stake in the business
GlobeOp Financial Services saw record net income of USD33.7 million in 2010, according to the company’s preliminary results for the year ended 31 December, 2010. Assets under administration (AuA) increased 37% to USD149 billion as at 31 December 2010 versus USD109 billion at the end of the prior year, while
Monroe Capital LLC, a private investment firm focused on investments in middle market and lower middle market companies, has announced the initial closing of its new USD250 million fund, Monroe Capital Partners Fund LP. The latest Monroe Capital fund will provide senior and junior/mezzanine debt and equity co-investments for private
Solar Investment Group, a Milan-based solar developer has launched its second development fund and third solar asset fund, targeting investments of up to 250MW of solar energy projects in Italy to take advantage of the strong Italian feed in tariff program. The firm, which develops solar plants in Italy, is
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