Alternative investment specialist Investcorp has agreed to acquire the debt management business of 3i (3iDM) from UK-based 3i Group for GBP222 million (approximately USD271 million). The deal will see Investcorp’s assets under management (AUM) increase by USD12 billion to approximately USD23 billion. Investcorp says the acquisition will add
Legal & General Investment Management Real Assets (LGIM Real Assets) has completed a new loan to the Arora Group, for GBP175 million over 15 years, refinancing existing debt for Arora in the current low interest rate environment. LGIM Real Assets arranged the transaction for a third party client alongside its
Warren Equity Partners, a middle market private equity firm, has acquired a majority interest in IPC Lydon, an industrial services business specialising in maintenance, repair and upgrade services to the material handling, power generation, wastewater treatment and general industrial markets. IPCL, based in Avon, Massachusetts, was previously a wholly owned
Palamon Capital Partners has agreed the sale of SARquavitae, an elderly care provider in Spain, to HomeVi SAS, a portfolio company of PAI Partners. The transaction is subject to receipt of antitrust clearance from the European Commission and is expected to close in the first quarter of 2017. The
Barclays has signed a GBP1.5 million money market loan agreement with Kimble, a business performance software provider. The funding agreement was signed by Lorraine Ruckstuhl from Barclays and Sean Hoban from Kimble, to provide the business with working capital for future growth. The funding comes from Barclays’ GBP200 million
Research and analytics firm MPI has published an assessment of Ivy League endowments’ 2016 FY Performance. The firm writes that asset allocation remains the largest determining factor in endowment performance. “Commodities and Emerging Markets, each of which suffered respective losses due to continued declining oil prices or political turmoil, were a
The outcome of the US presidential election represents a significant threat to merger and acquisition (M&A) activity over the next six months, according to a survey of over 1,600 global dealmakers by Intralinks. Respondents from North America predict the US presidential election will have the greatest impact on M&A activity
Private equity house Key Capital Partners (KCP) has exited its interest in Gear4Music, selling its remaining shares for GBP9 million, which combined with earlier partial exits has generated a five times return on investment. The GBP55 million turnover online musical instrument retailer has seen growth in recent years following KCP’s
Neuberger Berman has closed the NB Private Debt Fund II with USD750 million of limited partner commitments. The fund seeks to invest in the junior debt of private equity-backed companies, including unitranche loans, second lien loans, and mezzanine debt securities. Including the fund, Neuberger Berman manages approximately USD2.3 billion
Preqin’s latest update on private equity reports that 2015 witnessed record levels of capital distributions (USD443 billion), surpassing that of the previous record high in 2014, when fund managers return USD424 billion to investors. 2015 also marks the fifth consecutive year in which capital distributions outstripped capital calls, Preqin writes.
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