A consortium of venture capital firms has sold its stake in Intelliden, a provider of networking solutions, to information technology company IBM. The consortium includes 3i Group, GGV Capital (formerly Granite Global Ventures), Matrix Partners, Telus Ventures and Westbury Partners. Following the completion of the transaction, Intelliden technology will be
Private equity firm Kirtland Capital Partners has completed the sale of its portfolio company PVC Container, the parent company of Novapak, to Castle Harlan’s Pretium Packaging. During its ownership, Kirtland led PVC through a number of strategic and operating initiatives, including a transition to the Novapak name following the integration
The California State Teachers’ Retirement System has expanded its relationship with Banc of America Merrill Lynch Capital Access Fund into underserved inner-city and rural markets. Calstrs is committing USD100m to its fourth BAML fund since 2003, targeting underserved domestic markets. Calstrs has the option of increasing its commitment to USD200m
Private equity firm Advent International has agreed to acquire a majority stake in Centrul Medical Unirea, a chain of medical clinics in Romania, from the private equity company 3i and the founders of the business. The value of the deal was undisclosed. The transaction is subject to Romanian Competition Council
RW Capital Partners is aiming to raise USD50m of private capital with a new fund that will provide loans to small businesses who are struggling through the recession-induced credit crunch. RW Capital’s fund could be matched by up to USD100m in committed funds upon successful completion of its application to be
Private equity and venture capital recovered some of the losses they had incurred in 2008 and early 2009 in the third quarter, with each asset class logging its best performance since 2007. However, as in the previous quarter, public equity indices outperformed both, though for time horizons of three years
Huayuankou Economic Zone and Arc China have signed an agreement to form the Liaoning Huayuankou Investment Fund, which will be established through a joint investment totalling RMB1bn (approximately USD146m). This is the first private equity fund in Dalian in partnership with the local government, and the primary focus will
Ronald Paterson, partner at international law firm Eversheds. comments on concern expressed by AIMA this week over the AIFM Directive. The potential consequences of getting this directive wrong, range from the unthinkable – a trade war with the US – to the merely disastrous, such as a
The UK support services sector has witnessed an unrelenting volume of M&A transactions since the end of 2008 despite limited activity in most other sectors, according to research by Close Brothers Corporate Finance. Since October 2008, at the start of the international banking crisis, the UK support services sector has
Southridge, an investment firm providing capital to publicly listed companies, has closed a private equity agreement via an affiliated fund for up to USD20m in equity financing for Covenant Group of China. "Southridge is very pleased to provide equity capital financing for this market leader in seeking investment opportunities with
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