Allocations
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 annuity fund and the deal is the second financing between Arora Group and LGIM Real Assets.
Steve Boyle (pictured), lending manager at LGIM Real Assets, says: “The fundamentals of this loan are very strong. It is secured against a high quality asset within the Arora Group portfolio. We continue
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 subsidiary of Jay Cashman. Jay Cashman, chairman and owner of Cashman, will retain a significant equity interest in the company. Terms of the transaction have not been disclosed.
John Burke, president of IPCL, says: “IPCL has one of the most experienced management teams in the specialty services and mission
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 sale will result in an investment return of 3x for Palamon.
Julian Carreras, partner at Palamon, says: “We are delighted with the result of our investment in SARquavitae which when complete will generate nearly EUR140 million of proceeds and a 3.0x return for our investors. Our investment thesis for
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 venture debt fund, which was established to help the UK’s high-growth firms compete with Silicon Valley. To date, Barclays has helped a range of high growth companies with business financing from this fund.
The fund was extended to GBP200 million earlier this year, in addition to the launch of
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 significant drag on Ivy League funds’ returns. Despite FY 2015’s stellar performance by Venture Capital and marginally positive returns by Hedge Funds, both asset classes posted negative returns in FY 2016. Real Estate, US Equities and Bonds were the highest performers in FY 2016.
“Yale continued its strong performance.
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 in their region over the next six months, despite the other significant economic factors in play such as the threat of further interest rate rises.
A weak global economy, China, the prospect of further US interest rate rises in 2016 and the UK’s Brexit vote all registered as significant
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 backing in 2012 when it took a 30 per cent stake in the company.
Established in 2003 and based in York where it has a showroom and distribution centre, Gear4Music is an online seller of musical instruments including guitars, drum kits, digital pianos, saxophones and cellos, plus recording and
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 of committed capital focused on investing in the credits of private-equity backed companies in both the primary issuance market and through secondary purchases. The average investment size across the business is between USD50 million and USD100 million.
The fund’s global investor base is comprised of more than 25 institutions,
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. With these high levels of distributions currently seen in the industry, it seems that investors are still committed to the asset class: over half (56 per cent) of investors active in private equity are planning to increase their allocation in the longer term.
“Furthermore, private equity dry powder continues
Baird Capital’s UK-headquartered BCPE II portfolio company SGX Sensortech has completed the sale of its Air Quality Sensors (AQS) division to US-based Amphenol Corporation.
Baird Capital invested in SGX Sensortech in 2012 as part of an investment initiative targeting safety products.
AQS manufactures and supplies advanced gas sensing products for automotive, industrial and indoor air quality applications. The company's product portfolio includes MEMS, infra-red and pellistor based technologies. From its manufacturing facilities in Switzerland and Poland, the company serves a global customer base of blue chip OEMs and tier 1 suppliers across its core markets.
During Baird Capital's
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12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
