Allocations
Institutional Venture Partners (IVP), a later-stage venture capital and growth equity firm, has launched IVP XV, a USD1.4 billion fund, the largest fund raised in the firm’s 35-year history, which brings cumulative committed capital to USD5.4 billion.
The fund was significantly oversubscribed, with IVP’s existing Limited Partners contributing the vast majority of the fund.
The fund’s General Partners are Todd Chaffee, Somesh Dash, Steve Harrick, Eric Liaw, Jules Maltz, Sandy Miller, and Dennis Phelps. After 26 years as a General Partner at IVP, Norm Fogelsong will serve the new fund as an Advisory Partner. Collectively, the Partners have more than
In this extract from the Preqin Quarterly Update: Real Estate, Q1 2015, we analyse fund performance and take a look at private real estate funds currently in market.
Fund Performance
Closed-end private real estate funds have posted positive changes in NAV for 18 consecutive quarters, with Q3 2014 seeing an average 1.9 per cent increase in NAV (Fig 1). As of September 2014, funds of vintage years 2009-2012 are posting relatively strong returns, with the median IRR ranging from 12.8 per cent for vintage 2012 funds to 15.8 per cent for vintage 2009 funds.
Examining J-curves of funds of
China Everbright Limited (CEL) and Sinowel Enterprise Group (Sinowel) have signed a strategic partnership agreement to start their co-operation towards the secondary market of trust beneficiary rights.
CEL and Sinowel plan to maximise their value, as well as leveraging their respective experience and advantages in the asset management sector to build a marketing platform for the trust industry.
CEL, a member of China Everbright Group, is a diversified financial services enterprise operating in Hong Kong and mainland China. It leverages a "Macro Asset Management" strategy with specific focuses being placed on fund management and investment businesses, namely Primary Market Investment,
Octopus Investments has completed a development with Transact to enable shares in its Venture Capital Trusts (VCTs) to be bought and held on a financial adviser platform for the first time.
Previously VCTs were unable to be purchased on adviser platforms or by a nominee account as they needed to be bought by the individual directly in order to qualify for the tax reliefs.
The launch of the service from Transact, which is an adviser-facing only platform, follows the change announced in the Finance Bill 2014 last year that allows shares in VCTs to be bought by a nominee
Simplilearn, a provider of certification courses to professionals, has raised USD15 million in Series C funding led by Mayfair, with existing investors Kalaari Capital and Helion Venture Partners also participating.
Simplilearn has raised a total of USD27 million in capital.
Simplilearn offers a multitude of training and certifications for business use and career advancement. The blended learning platform offers a combination of online classes, in-person workshops and corporate trainings, all led by Simplilearn's over 2,000 qualified trainers. Courses span vendors, industries and platforms: Simplilearn offers training for everything from Advanced Cloud Computing to Six Sigma.
"Simplilearn has had an impressive
This extract from the Preqin Quarterly Update: Infrastructure, Q1 2015 reflects on the first quarter’s infrastructure fundraising activity.
Fundraising for unlisted infrastructure funds declined in Q1 2015, with just four funds closing, raising an aggregate USD5.3 billion in institutional capital (Fig 1). This represents the lowest amount of capital raised in a single quarter since Q3 2013, when USD4.8 billion was raised. However, those fund managers that are closing funds are often raising large amounts of capital; the average fund size has increased from USD503 million for funds closed in 2011 to USD984 million in 2014.
This trend is reinforced
Law firm Ogier in Jersey has acted for the lenders in connection with amendments and an increase to approximately USD6.3 billion to financing provided to the Tullow Oil Group.
The lenders (including BNP Paribas) increased their lending facility by USD450 million, including a USD200 reserved based lending facility and USD250 million corporate credit facility.
Amendments were also made to the facilities to address the risk of potential covenant breach due to oil price volatility and to allow investment in the production and development of assets in West Africa.
The Ogier team was led by partner Chris Byrne with
James Briggs, an independent UK-based aerosol and speciality chemicals manufacturer, has acquired the business and assets of Premiere Products, a manufacturer of branded and private label janitorial cleaning products.
James Briggs can trace its roots back to 1830 and Premiere has a similarly strong heritage in the UK having been supplying products into both the commercial and consumer cleaning sectors since 1924. Premiere is one of the most respected and trusted names in the industry distributing its products widely in the UK and Ireland, but also enjoys strong export sales across Europe and the Middle East, as well as into
Materne-Mont Blanc, a provider of fruit purees and dessert creams sold at ambient temperature in supermarket food departments, backed by LBO France since 2010, has successfully completed a seven year EUR230 million refinancing.
Pom’Potes is the group’s flagship brand for fruit purees sold in pouches, with a leading position among children in the snack segment. The brand developed a first mover advantage in the US, under the name GoGoSqueez.
BNP Paribas acted as Mandated Lead Arranger and Bookrunner of the new EUR230 million tranche B senior financing. The structure includes an additional EUR10 million revolving credit facility as well as
Turner & Townsend, the global programme management and construction consultancy, has acquired Australian project management specialist Thinc, creating a combined company with more than 400 expert staff based in ten locations across Australia.
The acquisition is a key part of Turner & Townsend’s ambitious expansion strategy for Australia, and follows a period of continuous organic growth across the business.
Turner & Townsend is an independent professional services company with 87 offices in 36 countries. Its Australian clients include National Australia Bank, Brisbane Airport, and Transport for NSW, Canberra University and Woolworths.
Thinc has a strong track record of providing strategic
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