Allocations
An investor group led by affiliates of Apollo Global Management, Crestview Partners and Reverence Capital Partners is to acquire Voya Financial’s Closed Block Variable Annuity business (CBVA Business).
The investment will be made through a newly formed standalone entity, Venerable Holdings. The proposed transaction, which is expected to close in the second or third quarter of 2018, is subject to regulatory approvals and other customary closing conditions. Apollo, Crestview, and Reverence will own equal stakes in Venerable, and Athene Holding and Voya will also acquire minority positions in Venerable.
The investors in Venerable are all well-established strategic investors with
Private equity investor Equistone Partners Europe has acquired a majority shareholding in the Dugas Company, a promoter and exclusive distributor of high-end spirits headquartered in Paris.
Equistone’s investment in the Dugas Company alongside its management team, led by founder François-Xavier Dugas and the Chevrillon Group, will allow the company to maintain the momentum generated by its strong growth over the past ten years.
Renowned for its position as a key partner of major international rum brands such as Diplomatico, Angostura, Don Papa and Botran, the Dugas Company also distributes leading brands of whisky, such as Springbank, Bunnahabhain and Glengoyne,
Summa Equity Fund I (Summa) is to acquire Norsk Gjenvinning from Altor Fund III (Altor). The transaction is subject to government approval and is expected to be completed in Q1 2018.
Norsk Gjenvinning is Norway’s largest and leading recycling company, with around 1200 employees and annual revenues in excess of NOK 4 billion. Private Equity fund Altor bought the majority stake in the company in 2011, and have since strengthened the company’s position as a leading player in recycling and industrial solutions for the circular economy.
“We are very enthusiastic about Summa as our new owner, as they share
Private equity firm Gen Cap America has sold Thomas Pipe & Supply, a Phoenix, AZ distributor of industrial pipe, valves and fittings, to Winsupply. Gen Cap acquired Thomas Pipe & Supply in 2008. Terms of the transaction have not been disclosed.
Thomas Pipe & Supply is a distributor of industrial pipe, valves and fittings (PVF) to the MRO and industrial markets. Founded in 1983, Thomas Pipe has grown to be the largest PVF distributor in the state of Arizona and has enjoyed consistently strong performance through innovation, product line expansion, industry-leading customer service and a superior operating model.
Gen
Fly Ventures has closed its debut fund at USD41 million. Uniquely comprised of co-founders from blue chip venture capital and technology backgrounds and a software engineering team of ex-Googlers, Fly Ventures is using AI and machine learning to identify, evaluate and support investment targets.
Fly Ventures’ three partners, Stephan Seyboth, Gabriel Matuschka and Fredrik Bergenlid created the company to disrupt the early-seed venture capital industry in the way that artificial intelligence is predicted to disrupt other sectors that are heavily reliant on repetitive tasks, data gathering and processing.
Using its technology Fly Ventures is able to find and approach
Atlantic Street Capital has acquired a majority stake in Lori’s Gifts, the largest multi-unit retailer of gift shops in hospitals, from the Bernick family.
Founded in 1981, Lori’s Gifts is the nation’s leading operator of hospital gift shops with more than 350 shops in hospitals from coast to coast. The company assumes all staffing, buying, accounting and operational responsibilities and offers dynamic merchandise assortments that include elite national brands. It also provides patient gift service for all their locations and same‐day in‐room delivery for personal care items, gifts, flowers, balloons, drinks, snacks, and accessories. Lori’s is based in Carrollton, Texas
The capital markets team at leading audit, tax and consulting firm RSM has acted on deals totalling over GBP1 billion in 2017 – highlighting a strong year and an uplift in activity across the practice.
RSM has advised on a range of high-profile deals including the GBP200 million AIM IPO of the omni-channel women’s fast fashion brand, Quiz Plc; the GBP250 million IPO of PRS REIT plc; and the GBP50m AIM IPO of Keystone Law Group. The team has completed 12 transactions across the Main Market and AIM in 2017, with a total value of GBP1.06 billion.
Diane Craig,
LRI Group, an independent investment services company, has added six new managers to its UCITS Platform, forecasting approximately EUR12 billion in Assets under Management (AuM) in 2017.
Markets in 2017 have remained volatile and uncertain due to major changes affecting the institutional and alternative management industry, however LRI Group believes that there are still plenty of attractive opportunities for managers during such turbulent times.
The growing appetite of LRI Group’s fund business emerged from an increase in global asset management clients and in particular a stronger global distribution network of investors and asset managers. In addition to the total
AnaCap Financial Partners (AnaCap), a specialist European financial services private equity firm, has sold First Names Group, a leading independent provider of trust, corporate, real estate and fund administration services worldwide.
The buyer is SGG Group, a leading multi-jurisdictional provider of financial services, backed by Astorg Partners, the European investment firm. Completion of the sale which is subject to regulatory approval, secures AnaCap a 2.6x return on its investment.
First Names Group works closely with client and professional advisers to establish and administer a range of internationally structured solutions, including trusts, companies and foundations, as well as providing fund
The Alternative Investment Management Association (AIMA), the global representative of alternative investment managers, has signed a Memorandum of Understanding (MoU) with the Insurance Asset Management Association of China (IAMAC), a self-regulatory organisation for China’s national insurance asset management industry.
AIMA and IAMAC signed an agreement in Beijing that outlines areas of cooperation and collaboration, including educational programmes and joint events. The MoU further strengthens AIMA’s presence in China and its relationships with China’s asset management industry and its regulators.
In 2014, AIMA signed an MoU with the Asset Management Association of China (AMAC), the self-regulatory organisation for Chinese fund
Events
12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
