Allocations
Franklin Square Capital Partners has provided a USD150 million first lien secured term loan to Latham Pool Products, a manufacturer of in-ground residential swimming pools and components.
Latham is a portfolio company of Littlejohn & Company (Littlejohn), a Greenwich, CT based private equity investment firm focused on the middle market. The financing was provided by FS Investment Corporation (NYSE: FSIC), FS Investment Corporation II (FSIC II) and FS Investment Corporation III (FSIC III), BDCs managed by affiliates of Franklin Square and sub-advised by GSO / Blackstone Debt Funds Management LLC (GDFM), an affiliate of GSO Capital Partners LP (GSO).
Lawyers at Baker Botts advised clients on 35 major merger & acquisition transactions valued at a total of USD65.6 billion during the first half of 2015.
The firm’s activity is up approximately 16 per cent (USD9 billion) compared to the first half of 2014 when the firm worked on transactions totalling USD56.6 billion. The increase marks the second year in a row in which the firm’s numbers for the first half of the year have risen, with 2015 representing a more than 205 per cent increase when compared to 2013.
Baker Botts lawyers represented clients in a number of notable
Euronext subsidiary EnterNext, is to launch TechShare, an educational programme designed especially for fast-growing tech companies, in September 2015.
EnterNext has created this pan-European course to familiarise innovative businesses with capital markets and give them the information they need to take their companies to market.
EnterNext is aware of tech stocks’ market potential, and in November 2014 launched three initiatives to strengthen the clout and visibility of innovative SMEs. TechShare is the third of these, following the rollout of the Tech 40 label and the launch of Morningstar’s commitment to publishing information and analyses of young companies.
TechShare
Taliance, an analytics software provider in the alternative investment marketplace, has selected Hipercept, to serve as its channel partner for North and South America.
Taliance’s software solution, GlobalAsset, complements the technology infrastructure of alternative asset investment firms through real-time, dynamic forecasting, scenario modelling, and consolidated analytics capability for the front and middle office. Using GlobalAsset, customers in over 16 countries have demonstrably improved the performance of their international investment portfolios.
“Alternative asset investment firms worldwide have long demanded fund and asset analytics technologies that are able transcend the obvious shortcomings of home-grown spreadsheets and disparate data,” says Damien Georges
Livingstone’s Debt Advisory has advised Ding on its acquisition of US based iSend. Livingstone arranged debt facilities to support the acquisition and fund other projects.
Ding is a provider of international top-up services for mobile phones and is headquartered in Dublin, with offices across the globe. Ding is a service that anyone can use to top up a mobile phone in another country and its network now numbers over 350 mobile operators across 130 countries, supporting 3.5 billion phones. Ding was founded in 2006 by entrepreneur Mark Roden and in the year ended December 2014 it generated revenues of USD250m,
LBO France has completed the acquisition, from Roger Zannier, of IKKS, a French ready-to-wear clothing brands focused on the “casual chic” segment.
LBO France became the majority shareholder and Roger Zannier retained about 30 per cent of the company's capital. Furthermore, Silverfern, a fund specialised in co-investment, entered the capital structure of IKKS as a minority shareholder.
Alongside the management team, LBO France would continue to support the group’s growth, notably by accelerating its development in Paris, implementing a significantly strengthened communications programme, as well as supporting international expansion.
The IKKS Group has a portfolio of three complementary brands
For any hedge fund manager, winning a mandate from a sovereign wealth fund (SWF) is the Holy Grail. These are the biggest institutional investors on the planet and also offer, potentially, the stickiest capital given their multi-year investment horizons.
One should therefore take encouragement from the fact that SWF allocations to hedge funds have steadily risen from 31 per cent in 2013 to 33 per cent today, according to the latest research by Preqin in their Hedge Fund Spotlight June report. But the fact remains that SWFs remain under-allocated to the asset class; 60 per cent do not invest at
Private equity firm Encore Consumer Capital has closed its third fund at the hard cap with USD260 million of commitments, exceeding its target fund size of USD225 million.
"We are extremely grateful for the continued support we have received from our loyal investor base and excited by the new world-class pension plans, endowments and family offices that have partnered with us. We look forward to continuing to capitalise on our investing and operating experience to accelerate the growth of leading consumer products companies," says Robert Brown, a Managing Director and Co-Founder of Encore.
"Encore's talented and experienced investment team, along
Boston-based private equity investor Bunker Hill Capital has acquired ASPEQ Heating Group, a manufacturer of highly engineered electric-heating and thermal-management technologies.
In addition to Bunker Hill Capital and other co-investors, majority-holder of ASPEQ, John Eulich, and ASPEQ’s senior management team both reinvested meaningful proceeds in the deal.
ASPEQ’s highly engineered designs, sold under the INDEECO, Heatrex and AccuTherm brands, are value-added solutions versus more standardised, higher-volume heating elements. ASPEQ’s brands are among the most recognisable in the industry, with an established reputation for performance, quality, reliability and innovation at competitive prices. The Company’s broad product portfolio comprises thousands of unique
Chrome River Technologies, a provider of online expense reporting and automated invoice processing software, has raised USD100 million from Great Hill Partners in a Series D funding round.
Chrome River will use the funds to accelerate its growth globally and support continued product innovation.
“We have seen tremendous traction in the last 12 months, particularly with large enterprises that are under increasing pressure to improve their business processes, control costs and provide configurable financial controls,” says Alan Rich (pictured), Chrome River co-founder and CEO. “We have a clear vision of how we can build on this momentum to bring
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