Rage Frameworks, a managed service provider of business process automation and big data solutions, has partnered with growth private equity firm Kayne Partners. Headquartered in Westwood, Massachusetts, Rage was founded by serial entrepreneur Venkat Srinivasan (chairman and chief executive) and launched its managed services business in 2006. Rage delivers its
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has opened an office in Dallas to help support a growing client base in that market. Abacus Group’s expansion, which included the addition of 57 new funds this year, was prompted by increased demand in
FMO, the Dutch development bank, has appointed a new management board. Jurgen Rigterink, currently chief investment officer (CIO), is to become chief risk and finance officer (CRFO). He will replace the current CRFO, Nico Pijl, who is due to retire on 1 January 2014. Linda Broekhuizen will succeed Rigterink as
The Securities and Exchange Commission has voted unanimously to propose rules under the JOBS Act to permit companies to offer and sell securities through crowdfunding. Crowdfunding describes an evolving method of raising capital that has been used outside of the securities arena to raise funds through the Internet for a
Private equity firm HIG Capital has completed the sale of its portfolio company PMSI to an affiliate of Kelso & Company and StoneRiver Group. Simultaneous with the sale, the company will be merged with Progressive Medical to create a provider of customized and clinically-focused solutions to manage pharmacy benefit management
Guernsey has signed an agreement with the UK on a package of tax measures designed to enhance the automatic tax information exchange provisions already in place between the two jurisdictions. The island’s Chief Minister, Peter Harwood (pictured), signed the Inter-Governmental Agreement (IGA) in London alongside the UK’s Exchequer Secretary to
Law firm Proskauer has appointed Lynn Chan as a consultant in the firm’s private investment funds group in Hong Kong. Her addition extends the firm’s international private equity platform and its footprint in Asia. “Proskauer remains focused on building out our prominent private equity offering in the region,” says
Private equity firm Pharos Capital Group has hired Brett Jackson as a senior financial analyst in the firm’s Nashville office. Jackson will be responsible for deal review, financial due diligence and financial modelling. Before coming to Pharos, he was an investment banking analyst at Stephens in Little Rock, Arkansas, where
More than 200 people have registered to attend a Guernsey event in London on 5 November which will examine the EU’s Alternative Investment Fund Managers Directive (AIFMD). The event, AIFMD: Practical aspects of implementation, is being held at the recently refurbished Rosewood London and will see funds experts consider Guernsey’s
Water Street Healthcare Partners has sold its anatomic pathology company, PLUS Diagnostics, to Miraca Life Sciences. The deal makes Miraca the largest independent anatomic pathology laboratory company in the US. Water Street acquired PLUS in 2006 when it was a regional laboratory. It invested its team’s industry expertise and
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