Private equity fund manager Horizon Capital has purchased four per cent of shares of Tinkoff Credit Systems (TCS Bank) for USD40m. TCS is a credit card company and the first online bank in Russia. It is controlled 100 per cent by Egidaco Investments. The funding for this deal comes from
AXA Private Equity announced this week the opening of its first China office in the country’s capital, Beijing. This continues the firm’s expansion in Asia having opened its first office in Singapore in 2005. It has since deployed USD1.3billion of capital across the region. AXA Private Equity said the Beijing
Gulf Oil Corporation, part of the Hinduja Group, has reached an agreement to acquire Houghton International. Houghton, a supplier of metal working fluids, will join a portfolio of global brands owned by the Hinduja group including Ashok Leyland (truck and bus manufacturing) and Gulf Oil International (production and marketing of
Denham Capital, an energy and resources-focused global private equity firm, is to open an office in Perth, Australia, one of the world’s main hubs for metals and minerals activity. The new office will open in February 2013 and be led by Bert Koth, director of Denham Capital’s metals and minerals
ALI Group is to acquire Scotsman Industries from an affiliate of private equity firm Warburg Pincus. ALI Group is to acquire Scotsman Industries from an affiliate of private equity firm Warburg Pincus. Terms of the transaction have not been disclosed. Luciano Berti, ALI Group’s chairman and chief executive officer, says:
ECI, the UK growth focused mid-market private equity firm, has sold healthcare outsourcer Harmoni to CareUK. Harmoni is a UK provider of outsourced healthcare services including Out of Hours, 111, prisoner healthcare and IT services, providing services to over eight million people in the UK. Harmoni has grown considerably
Mid-market private equity firm GI Partners has sold its 75 per cent ownership stake in FlatIron Crossing, a 1.7 million square foot class-A regional mall located in Broomfield, Colorado, to its joint venture partner Macerich. GI Partners invested in FlatIron Crossing in 2009, acquiring its 75 per cent interest in
ADP, a provider of human capital management services, is to sell the ADP Taxware business to Vista Equity Partners, a private equity firm focused on investments in software and technology-enabled services. Terms of the sale have not been disclosed. ADP Taxware, provider of automated solutions for sales, use and value-added
Guernsey is planning to have two parallel regulatory regimes for investment funds as a way to best meet client needs when the EU’s Alternative Investment Fund Managers Directive (AIFMD) comes into force. Fiona Le Poidevin (pictured), chief executive of Guernsey Finance, the promotional agency for the Island’s finance industry, has
August Equity’s portfolio company SecureData Europe has completed the acquisition of Quadrant Networks. Quadrant provides application delivery and security services to a blue chip customer base including the UK’s leading e-commerce and corporate clients such as Ocado, Rightmove and Easyjet. It ensures customers’ mission critical applications are operating in a
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