Allocations
An affiliate of private equity investment firm HIG Capital (HIG) has acquired ATX Networks Corporation (ATX) a designer and developer of patented, radio frequency (RF) and digital video processing equipment used by cable operators and a growing number of private video networks, A/V integrators, and telecommunication companies.
Cable operators rely on the Company’s RF equipment to enable increased bandwidth to their subscribers, while ATX’s growing suite of non-RF products provides solutions for network operators to efficiently deliver video and data services to end users, including but not limited to transcoding and encoding, bulk video transition gateways, and content streaming products.
OMERS Private Equity (OPE), the private equity investment arm of the OMERS pension plan, is to acquire Environmental Resources Management (ERM) from Charterhouse Capital Partners for an enterprise value of USD1.7 billion.
The Alberta Investment Management Corporation (AIMCo) will co-invest in the transaction.
Created in 1977, ERM is a leading global provider of environmental, health, safety, risk, social consulting and sustainability related services. ERM works with both private and public sector clients to deliver sustainable outcomes to complex environmental issues, from Board level down through the organisation.
ERM has more than 4,800 employees including 600 partners and operates from 163
Equity and bond markets experienced renewed tensions during the period under review. European markets saw higher selling pressure than US markets, which was a negative for Global Macro managers as they have sizeable long European equities positions in their portfolios.
IK Investment Partners (IK) has received a binding offer from International Flavors & Fragrances Inc. (NYSE:IFF) (“IFF”), a leading global creator of flavours and fragrances for consumer products, for the sale of Lucas Meyer Cosmetics group of companies.
The transaction is structured as an exclusive binding offer in order to allow Unipex Group to consult with its French works council prior to entering into the final agreement. The transaction is expected to close in the third quarter of 2015 and is subject to exclusivity protection. Under the terms of the offer IFF will pay approximately EUR283 million.
Under IK’s
During its fiscal year that will end on 30 June, 2015, BioAdvance’s life sciences portfolio companies attracted USD85 million of capital from private investments and other sources.
“It’s been another strong year for our portfolio companies” says Barbara Schilberg CEO of BioAdvance. “While several companies have raised significant amounts of venture capital others have received non-dilutive funding achieved product sales secured development contracts accessed the public markets or progressed products through collaborations with larger companies. This progress confirms that there are multiple paths to success for life sciences companies.”
Galleon Pharmaceuticals raised USD10 million in a Series B round supplemented
Returns offered by the private equity asset class are often a hot topic for discussion in the investment industry. With yields varying between fund types, sectors and managers, Jessica Duong (pictured) investigates the differences in performance of sector-specific buyout funds in this extract from Preqin Private Equity Spotlight – June 2015.
One of the main attractions of private equity for investors is the potential for outperformance over public equities over the longer term and the prospect of high yields. Offering insight into the sentiment of the LP community, Preqin’s latest global study of LPs revealed that 37 per cent of
BlackRock is to acquire Infraestructura Institucional, Mexico’s leading independently managed, infrastructure investment firm, expanding BlackRock’s infrastructure capabilities in Mexico.
The agreement builds upon BlackRock’s existing USD6 billion global infrastructure platform and strengthens the Firm’s long-standing Mexico business. The acquisition will fully enable BlackRock to deliver to its local and international clients the compelling infrastructure opportunities emerging in Mexico. Upon closing, BlackRock’s infrastructure investment platform will manage more than USD7 billion of invested and committed assets and over 80 employees located in six offices globally. The Firm’s Mexico office will grow to over 50 employees and USD26 billion of assets under
Salient Partners has successfully completed its acquisition of Forward Management, creating a USD27 billion diversified asset management firm and reaffirming the firm’s position as provider of liquid alternative and real asset investment strategies.
The combined firm has 250 employees across its offices in Houston, San Francisco and New York.
Salient's management team will continue to be led by John Blaisdell as chairman and chief executive officer, along with Jeremy Radcliffe as president, Lee Partridge as chief investment officer, Ben Hunt as chief risk officer, and Robert Naka as chief operating officer. The firm's portfolio management teams report to Lee
Shoreline Capital, a private fund manager in Chinese distressed debt and special situation investments, has closed its third fund at USUSD500 million. The fund, Shoreline China Value III, was over-subscribed.
Meanwhile, Shoreline held the first close for Fund IIIÂ’s overflow fund at USD115 million. Based on current indications of interest, Shoreline expects the overflow fund to also be oversubscribed within the month.
Since the firmÂ’s inception in 2004, Shoreline has focused on illiquid credit-related opportunities arising from the inefficiencies in China’Â’s financial system. Such opportunities include (i) non-performing loan (“NPL”) portfolios; (ii) distressed special situations; and (iii) non-distressed special situation investments.
The amount of capital awarded by investors to separate account structures reached an all-time high in 2014. In an extract from Preqin Real Estate Spotlight – June 2015, Oliver Senchal examines the growing prominence of this type of alternative structure in the broader fundraising market, including investor appetite and fund manager plans.
Growing prominence
Preqin’s Real Estate Online contains detailed information on over 300 real estate separate account structures. As Fig 1 displays, the aggregate value of separate accounts awarded in a single year between 2006 and 2012 never exceeded the USD7.7 billion awarded in 2011. While 2013 represented
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