Allocations
The Paris office of the international firm Simmons & Simmons has assisted the British asset manager, Polar Capital, in the context of the launch of its operations in Paris.
Whilst some aspects of the divorce between the EU and the UK are unfinalised, Simmons & Simmons LLP has advised Polar Capital on the establishment of the most suitable regulated structure post-Brexit for its set up in the capital.
The multi-disciplined team of the firm advised the asset manager throughout the authorisation process as an AIFM (from the initial meeting with the AMF to completing the AMF authorisation conditions) including
NVM Private Equity (NVM) has invested GBP3 million of growth capital into indoor climbing business The Climbing Hangar (TCH).
Indoor climbing is a growing sport that blends socialising with health and fitness and TCH aims to provide access to its superior facilities at an affordable cost, catering to a growing community of highly engaged climbing enthusiasts and novices alike. Since its successful launch in Liverpool in 2011, TCH has expanded to two further sites in London and Plymouth. The investment from NVM will allow the company to continue the roll-out, leading the market in providing an alternative leisure experience.
NorthEdge Capital has made the first investment from its recently closed NorthEdge Capital SME Fund I, backing award-winning cloud services specialist iPortalis with a multi-million pound growth capital investment to support its global expansion.
As organisations increasingly move to the cloud, iPortalis helps international businesses aggregate their diverse solutions so that all technology purchasing, deployment and license & asset management functions can be handled by IT teams via a single pane of glass.
At the heart of the iPortalis service is the iPortalis Control Portal (iCP). This cloud software portal enables IT teams to purchase, deploy and manage over
Golub Capital has sold a passive, non-voting minority stake in its management companies to Dyal Capital Partners (Dyal), a division of Neuberger Berman.
Terms of the investment have not been disclosed.
Golub Capital plans to use Dyal’s investment as permanent capital to expand the Firm’s capabilities to deliver distinctive, compelling and reliable financing solutions to its private equity sponsors and attractive, consistent returns for investors in its funds. All proceeds from the transaction will remain invested in the Firm. There will be no change in Golub Capital’s strategy, management team, investment team, investment process or day-to-day operations as a
BDO publication Horizons reveals that global mid-market M&A activity in Q2 2018 dropped 6.6 per cent; in other words, a total of 1,782 deals were registered, representing a total deal value of USD157.8 billion – or a 4.5 per cent drop – compared to Q1 of this year.
When the statistics from Q2 2018 are contrasted with those of Q2 2017, the decrease is even more significant, showing 353 less transactions (-16.5 per cent) and a USD22 billion decrease in value (-12.3 per cent). Only when looking back a full five years do we find lower figures: specifically to Q3
Financial services private equity firm AnaCap Financial Partners’ (AnaCap) AnaCap Credit Opportunities III fund has acquired a 1st lien corporate debt/loan portfolio from local bank Nova KBM (NKBM).
The servicer is Elements Capital Partners. The gross purchase price or claim amounts have not been disclosed.
In addition to completing this initial debt deal in Slovenia, AnaCap views the country as highly attractive for further investment and says it is looking forward to exploring a programme of additional opportunities.
Two months after acquiring FIM Services Limited (FIM), an alternative fund manager specialising in UK-based sustainable forestry and renewable energy investments, Gresham House is expanding FIM Solar Distribution, with the opening subscription for its new “D” Partnership Shares subject to a minimum investment of GBP95,040. The closing date for this offer is 28 September 2018.
FIM Solar Distribution is an established trading partnership which already owns six UK solar parks with an enterprise value of GBP45 million. The capital raised as a result of the subscription will be combined with the Fund’s existing cash resources to acquire additional solar parks.
The value of UK M&A deals involving e-retail businesses has jumped to GBP461 million in 2017/18, a fourteen-fold increase from just GBP31 million the previous year, says RPC, the City-headquartered law firm.
RPC says that this M&A activity has been driven by deals targeting luxury fashion e-retailers, as both luxury brands and retailers look to rapidly expand their online sales presence.
RPC explains that, historically, many luxury brands deliberately tried to restrict sales of their products online on the basis that this might impact their ‘exclusive’ image, preferring instead to sell through high-end boutiques or department stores. The last
Compass Banca (Compass), which is 100 per cent owned by Mediobanca, is to acquire 19.9 per cent of PT BFI Finance Indonesia Tbk (BFI Finance) from the Trinugraha consortium which currently owns 45.7 per cent of the share capital.
Upon closing, Compass will become one of the largest shareholders in the company. A further 11 per cent will be acquired by StarFinance, a SPV gathering certain Italian private investors. The deal is expected to close by once the relevant authorisations have been received by year-end 2018.
With this deal the Mediobanca Group is continuing its strategy of redeploying
Calculus Capital, an Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) specialist, has invested GBP2 million in Oxford BioTherapeutics (OBT), a clinical-stage oncology company that is developing next-generation cancer treatments.
OBT has a strong pipeline of ‘immune-oncology’ (IO) therapies that are intended to provide more targeted, specialised treatment strategies for patients by recruiting the body’s immune system to recognise and attack cancer cells. Patients who would benefit would include those who have not responded to other treatments, as well as those diagnosed with advanced cancers.
Additionally, OBT has two unique development platforms, employed to support the company’s own
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