Allocations
Private equity fund Evolution Capital Partners has accepted Star Mountain Capital as a strategic limited partner in Evolution Investments II LLC.
Star Mountain is a New York City-based asset management firm with a small/medium-sized private business focus and a unique strategic partnership approach to investing in private equity and private credit fund managers.
Jeffrey Kadlic, Co-Founder and Managing Partner of Evolution, says: "We are thrilled to have Star Mountain Capital as not just a limited partner but as a strategic partner with tremendous resources in their network that can be brought to bear as we deliver value to
New Mountain Capital has closed its previously announced acquisition of Zep in a transaction valued at approximately USD692 million. The execution of a definitive merger agreement outlining the terms of the transaction was initially announced on 8 April, 2015.
Zep’s stockholders approved the acquisition on Thursday, 25 June, 2015. As a result of the merger, each outstanding share of Zep common stock was converted into the right to receive USD20.05 per share in cash. Zep common stock (ZEP) ceased trading on the New York Stock Exchange at the opening of market today.
Headquartered in Atlanta, Zep is a leading manufacturer
Oakley Capital Investments Limited is to dispose of Verivox to ProSiebenSat.1 (P7S1), for an initial cash consideration of EUR200 million with further consideration of up to EUR50 million dependent on Verivox’s financial performance in 2015.
OCIL will continue to hold a minority interest in Verivox, through its commitment to Fund II, as will Verivox's founders. P7S1's holding in Verivox will be 80 per cent following completion of the transaction.
The transaction is expected to generate a 15x gross money multiple for Fund I, with an IRR of 73 per cent, based on a company value of EUR200 million, increasing
Plutos Sama has completed the acquisition of The Fisher Law Group, a default law firm practicing in Maryland and the District of Columbia.
Plutos Sama is a vertically integrated holding company, providing its clients with the legal resources needed to develop across a variety of sectors, asset classes and regions around the globe. Included among its holdings are BP Law Group, LLP, a creditors' rights law firm with a network of offices throughout the country, and Wilson & Associates, PLLC, a foreclosure law firm primarily serving Arkansas and Tennessee. The acquisition further solidifies Plutos Sama’s representation in more than 18
Neuberger Berman is to acquire the management rights to certain Merrill Lynch traditional non-registered and 40-Act-registered private equity fund of funds.
Merrill Lynch selected Neuberger Berman following an extensive due diligence process focused on private equity investment expertise, 40-Act capabilities and dedication to client service. Key private equity professionals from Merrill Lynch will be joining Neuberger Berman concurrent with the transaction.
Anthony Tutrone, Global Head of Alternatives at Neuberger Berman, says: "We are delighted to add these Merrill Lynch funds and team members to our growing platform of traditional and registered alternative investments. This transaction provides an exciting opportunity to
Future economic growth and development in Asia is inextricably tied to the funding of infrastructure projects on the continent at present. In this extract from Preqin Infrastructure Spotlight – June 2015, Oliver Senchal examines the current state of the Asian infrastructure market, detailing fundraising, fund managers, investors and deals in the region.
Unlisted infrastructure fundraising
The unlisted infrastructure market in Asia remains a difficult place to raise capital; only six funds closed last year raising an aggregate USD2.7 billion and only three vehicles have held a final close so far this year (Fig 1). At this rate, 2015 is
European private equity firm Cinven is to acquire a majority stake in the synlab Group, a German headquartered provider of human and veterinary laboratory services and environmental analysis across Europe.
This transaction follows Cinven’s acquisition in May of Labco, one of the largest European operators of medical diagnostics laboratories, headquartered in France, for an enterprise value of EUR1.2 billion.
synlab, headquartered in Augsburg, in Bavaria, Germany, has operations in 23 European countries. The Group has a proven track record of identifying and executing buy and build opportunities and has completed 52 acquisitions since 2011. Today synlab operates laboratories in
Lawson Conner has launched ‘FinTechPLUS’, a programme to help FinTech startups to launch their new businesses quickly, compliantly and cost-effectively, with the support of an experienced team of entrepreneurs, compliance and regulatory experts.
The ‘FinTechPLUS’ programme is designed for companies offering e-money, payments, consumer loans, crowdfunding and other financial technology related services currently revolutionising the banking and finance sectors. The programme includes a number of innovative solutions, one of which is the FinTech Regulatory Incubator Platform ‘FinTIP’, which allows selected companies to become authorised in less than a month and at a fraction of the cost usually associated with
KKR Credit has launched a pan-European platform that aims to support banks in managing their exposures to non-core and under-performing assets by improving the performance and value of the businesses which underpin the exposure.
The platform is intended to provide long-term capital and operational expertise to businesses to help them stabilise and grow, creating value for all stakeholders. The platform will be structured so that the participating banks share in the upside of the recovery in performance of the businesses and the value of the related assets on the banks’ balance sheet.
There are EUR1.9 trillion of non-performing and non-core
Asset under custody for private funds at Millennium Trust Company, a provider of alternative asset custody solutions to institutions, advisors, and individuals, have surpassed USD5.6 billion as of 1 June, 2015.
This represents an increase of USD600 million within the last six months. The firm’s total assets under custody exceed USD13.5 billion.
“We have experienced strong growth in all areas of Millennium’s business,” says Scott McCartan, chief executive officer of Millennium Trust Company. “However, we continue to see substantial acceleration in growth from our Private Fund Custody (PFC) service. We launched this business in late 2010 to address the
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