Allocations
Six Degrees Group (6DG”) is to acquire Capital Support Group (CSG), a cloud, software and security managed services provider with a significant presence in the financial services sector in London.
In 2014, CSG delivered GBP14m revenue, up 35 per cent on the previous year, and GBP2.5m of ebitda.
CSG is one of the largest providers of cloud and IT services to the alternative investment market sector in Europe and their clients have over USD500 billion of assets under management, powered by CSG’s hosting services. They have 130 employees who support 170 customers and their services span design, build, deploy
Lending Works, the first peer-to-peer lender to have insurance against borrower default risks including illness and loss of employment, has enjoyed a record first half to 2015.
Since its launch 18 months ago, Lending Works has lent over GBP10 million to thousands of borrowers around the UK. More than half of this was lent in the first six months of 2015 alone and the number of new lenders joining the platform since January was greater than the total lending community that joined in 2014. Such growth demonstrates a surge in interest and commitment from lenders to use the Lending Works
Kirkland & Ellis advised Palatine Private Equity on the recent closing of Palatine Private Equity Fund III. The fund was oversubscribed and held a first and final closing at its hard cap with aggregate capital commitments of GBP220 million.
The fund, which will make investments in the UK regional lower mid-market, accepted commitments from a broad mix of global institutional investors, including endowments, foundations, insurance companies, family offices and fund of funds. More information on the fundraise is available here.
Kirkland has one of the largest and most experienced sponsor-side private funds practices in the world with more than
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
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