Venture capital trusts have suffered during the recession but optimism seems to have returned to the sector as it is expected that the 2010 fundraising season will see a marked improvement on last year, the Association of Investment Companies says. The average VCT’s performance is currently down 0.5 per cent
Private equity firm CCMP Capital Advisors has acquired a controlling interest in Francesca’s Collections, a women’s fashion retailer. The company’s founders will continue to be involved in its management. Headquartered in Houston, Francesca’s Collections has more than 160 boutique locations in 33 states. It offers jewellery, handbags, gifts, accessories and
Taylor Wessing has advised online motor insurance provider esure on its management buyout from Lloyds Banking Group, funded by private equity firm Penta Capital. The deal, valued in excess of GBP185m, comes 15 months after the part nationalised bank assumed a 70 per cent stake in the insurance provider following
ETF Venture Funds, an early stage venture capital firm that invests companies in the healthcare, mobile, media and entertainment, greentech and business 2.0 industries, has changed its name to SeventySix Capital. The new name is the final component of a multi-stage re-branding effort. Founded in 1999, SeventySix Capital’s portfolio companies
Healthcare company Baxter International has agreed to acquire all the outstanding equity of ApaTech, a private equity-backed UK-based orthobiologic products company, for total consideration of up to USD330m. As a result of the acquisition, Baxter will acquire Actifuse, a silicate substituted calcium phosphate synthetic bone graft material which is currently
Aladdin Credit Partners (ACP), a joint equity venture formed by co-founders Luke Gosselin and Victor Russo, and Aladdin Capital Holdings, has announced the closing of its USD573m initial credit opportunites funds, Aladdin Credit Partners I LP and Aladdin Credit Offshire Fund I LP. Both ACP funds are focused on investing
The latest results of the Deal Drivers Russia survey, published by CMS in cooperation with mergermarket, reveal that optimism is returning to the M&A industry, albeit slowly. Only one per cent of respondents thought that M&A activity will decrease during 2010, as against the views of 33 per cent at
YA Global Master SPV, a fund managed by US-based investment manager Yorkville Advisors, has formed a standby equity distribution agreement with NYSE-listed Ashford Hospitality Trust. The agreement enables Ashford to sell up to USD50m of its common stock in tranches to YA Global over a 36 month term. At Ashford’s
Stobart Group, a UK provider of transport and logistics solutions, has agreed to dispose part of its Inland Ports asset to Legal & General Assurance Pensions Management for GBP61m rising to GBP62.5m on the satisfaction of further conditions. A key element of the sale is a new 528,000 square feet
Private equity firm Thomas H. Lee Partners has entered into a definitive merger agreement to acquire CKE Restaurants, owner of Carl’s Jr. and Hardee’s quick-service restaurant chains, for approximately USD928m, including the assumption of approximately USD309m of net debt. Under the terms of the agreement, CKE stockholders will receive USD11.05
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