Allocations
Venture capital and private equity activity posted strong results in 2014, according to the Canadian Venture Capital & Private Equity Association's (CVCA) 2014 VC and PE Market Activity report.
There was a total of 379 venture capital deals during the year with CAD1.9 billion invested, and 296 private equity deals with CAD41.2 billion invested last year.
"Venture capital and private equity investment remains robust and the feeling amongst our industry is that won't change in 2015," says Mike Woollatt, CEO, CVCA. "Despite the economic uncertainty in Canada, there are opportunities."
The strong results are expected to continue in 2015. Data
Private equity firm PAI Partners is to acquire AS Adventure Group a European retailer of outdoor equipment and clothing, from Lion Capital LLP.
The senior management team will continue to lead the Group and will reinvest alongside PAI.
Created in 1995 by Mr Emiel Lathouwers, AS Adventure has grown to become the leading specialty retailer of branded outdoor products in Europe, operating three brands across a network of 151 stores in Belgium, Luxembourg and France (AS Adventure), the United Kingdom (Cotswold Outdoor) and the Netherlands (Bever) as well as digital retail platforms in each market. The Group’s product offering
Over 70% of real estate firms surveyed by Preqin at the end of 2014 felt competition for both investment opportunities and sources of capital had increased over the past year. Preqin’s Head of Real Assets Products, Andrew Moylan, assesses the increasingly competitive landscape facing private real estate fund managers:
There are many challenges currently facing both fund managers and investors active in the private real estate space. The improving fortunes of the private real estate industry in recent years – the industry now manages an all-time high of USD742bn in assets and generated annualised returns of 16.7% over the last
There are more than 2,000 private equity managers currently in the market seeking capital, including some of the most prominent funds. With competition becoming ever more fierce, established PE firms run by savvy CEOs such as Stephen A Schwarzman of Blackstone, Henry Kravis of Kohlberg Kravis Roberts & Co, and smaller, though aggressive firms, such as Ted Virtue's MidOcean Partners, remain fiercely driven and keen on honing their competitive edge.
MidOcean Partners, for example, employs a sector-focused investment strategy coupled with a relationship-oriented management methodology. The firm adds value to each portfolio company by providing input into long-term strategic direction, operational
A fund managed by the Private Equity Group of Ares Management is to acquire a significant stake in American Tire Distributors (ATD) making Ares an equal owner alongside existing shareholder TPG.
Terms of the transaction have not been announced and closing is subject to certain conditions.
“This transaction is another significant milestone in ATD’s growth story, and we are proud now to have two very notable investors as our primary shareholders,” says Bill Berry, President and Chief Executive Officer of American Tire Distributors. “The company appreciates the guidance TPG has offered for the past five years, and we look forward
Law firm White & Case LLP has advised Novator on its acquisition of a 92 per cent stake in Nextel Chile, the fourth largest telecommunications provider in Chile.
The value of the transaction has not been disclosed. Novator is an alternative investment firm with a portfolio that is focused on four main sectors – telecommunications, pharmaceuticals, IT and renewable energy.
London-based White & Case partner Ian Bagshaw, who led the team which advised on the transaction, says: “Novator is a longstanding client and we were very pleased to support a successful acquisition that is very much in line with
RCP Advisors has acquired Atlas Diligence and their proprietary private equity manager research platform – GPScout.
Atlas Diligence, based in Chapel Hill, NC, provides investors with independent research and unique due diligence tools to assist in the identification and evaluation of private capital fund opportunities. GPScout, a unique subscription based platform, allows limited partners to access Atlas’s library of research and analysis. As a part of the transaction, Atlas Diligence investment professionals have joined RCP Advisors’ investment and research team.
“In Atlas, RCP has chosen a like-minded partner to help expand our team, enhance our investment process and analysis
Private equity firm Crestview Partners has closed its latest fund, Crestview Partners III, surpassing its USD3 billion target.
The new fund includes over USD3 billion of third-party limited partner capital commitments and USD250 million in general partner participation, including affiliates. Fund III is Crestview's largest fund raised to date.
Fund III will pursue the same investment strategy on which Crestview was founded in 2004 and has closely followed ever since—namely identifying and investing in companies with a contrarian, value orientation. Crestview's investment strategy focuses on opportunities that arise from market dislocations or through proprietary relationships. The firm typically targets USD100–400
Evercore and Luminis Partners have formed a strategic alliance to provide cross-border M&A advisory services.
The two firms will leverage their combined expertise and broad network of corporate relationships to provide independent, objective advice to their clients.
Luminis Partners recently has been formed by Ron Malek, Simon Mordant and Jamie Garis to provide conflict-free advice to major corporations, private equity firms, institutions, and government bodies on strategy, mergers, acquisitions and divestitures, restructurings and capital markets activities. This strategic alliance will also include an investment by Evercore in Luminis Partners. The three founding partners of Luminis have worked together for 15
MidCap FinCo and Apollo Capital Management have launched a direct origination platform for MidCap Financial focused on direct lending opportunities in the senior secured credit market.
MidCap Financial includes the existing operations and assets of MidCap Financial LLC (MidCap), a specialty finance firm focused on senior secured direct origination in the healthcare sector with more than USD2 billion of assets and a seasoned team of more than 75 employees headquartered in Bethesda, MD, complete with fully scalable asset management and back office infrastructure, systems and processes capable of full lender services.
Through an investment management agreement between Apollo and MidCap
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