As the world’s largest oil producer Saudi Arabia holds an immense amount of potential as it builds a broad-based economy and continues to liberalise and modernise its business climate, a private equity leader told participants at a conference in Riyadh, Saudi Arabia. Ahmed Heikal, founder and chairman of Citadel Capital,

Huddle, a company that lets people connect and work together regardless of their location, has closed a USD10.2m series B round of funding led by Matrix Partners, with participation from existing investors Eden Ventures and Charles McGregor, Huddle’s chairman. Huddle, which employs more than 40 staff in the UK and

Amalgamated Capital, a recently formed division of Amalgamated Bank, has served as lead arranger and administrative agent for a USD29.5m senior secured credit facility in support of the acquisition of Salvage Direct by QCSA Holdings, a portfolio company of Kinderhook Industries. Amalgamated Capital provides cash flow senior debt financing to

Private investment firm H.I.G. Capital’s affiliate Excel Homes Group has acquired substantially all the assets of Excel Homes, a US-based custom modular home manufacturer. Steve Scheinkman will become chief executive of Excel. Matt Sanford (pictured), managing director at H.I.G. Capital, says: "The housing and construction markets will undoubtedly rebound from

Morgan Stanley Alternative Investment Partners has raised USD585m in commitments for its Global Secondary Opportunities Fund, a fund dedicated to acquiring interests in private equity funds in the secondary market. The capital raised exceeded Morgan Stanley Investment Management’s initial USD500m target. "This successful fund raise demonstrates how MSIM leverages its

Axa Private Equity, a European private equity firm, has signed an agreement to acquire GO Voyages, the French online retailer of air tickets. Following this investment, Axa Private Equity will hold the majority of the equity of GO Voyages alongside the management team and staff, who will have a significant

EF Johnson Technologies has entered into a definitive agreement to be acquired by an affiliate of Francisco Partners, a technology-focused private equity fund. Headquartered in Irving, Texas, EF Johnson Technologies focuses on developing and marketing the secure communications solutions to organisations whose mission is to protect and save lives. The

Alternative asset manager The Carlyle Group deployed USD5.2bn in equity in 2009 on six continents across buyouts, real estate, growth capital and distressed. The firm has USD33.5bn in equity capital (dry powder) ready to deploy. Despite the challenges in the fundraising markets, Carlyle conducted final closes on nine funds, raising

Growth equity investor Summit Partners has entered into a binding agreement to acquire a majority stake in Ogone, a European service provider specialising in the processing of online payments. Financial terms of the transaction were not disclosed. As part of the transaction, Ogone will remain an independent company.  Summit Partners