Allocations
Atlantica Hotels International has been recapitalised with equity capital from Quantum Strategic Partners Ltd, a private investment fund managed by Soros Fund Management, Tao Invest, a private investment fund managed by Tao Capital Partners, and management.
Paul Sistare, founder and CEO of Atlantica, says: "This is a positive move for our clients, employees and business. We are delighted to partner with Soros and Tao, all long-term focused investors with strong track records of supporting growth companies. Our plans for growth remain in place."
As part of the recapitalisation transaction, global lodging industry veteran Doug Geoga has joined the investor group
PHD Equity Partners has launched its second private equity fund, PHD Equity Partners Fund No2 LP.
The firm is currently fundraising and expects to reach its target size of GBP25 million this year.
Fund 2 will build on the firm’s strategy of investing in smaller UK businesses, with valuations of less than GBP10 million.
PHD’s maiden fund, PHD Equity Partners Fund No.1 LP, is on target to deliver an IRR for investors (net of all fees) of 24.6 per cent.
Highlights of Fund 1 include the sale of Liberty Services to Capita plc for over nine times
Quadriga Worldwide, a provider of guest technology managed services for the hospitality industry, is merging with the SmarTV Company, a developer of interactive entertainment solutions for commercial and consumer markets.
The merged company’s mission is to maximise guest engagement and satisfaction, enhance the HSIA and entertainment experience, and strengthen on-property value through increased revenue and operational efficiencies for hotels.
Operating under the Quadriga Worldwide brand name, the company will focus initially on North America, Europe, the Middle East and Africa where the group has existing sales and operational resources. SmarTV, which will rebrand as Quadriga Technology, will continue to
LAI International, a portfolio company of RLJ Equity Partners, has acquired Zak Incorporated, a provider of precision machined and custom fabricated components for customers in power generation, specialty metals, and oil and gas.
Founded in 1937 and headquartered in Green Island, New York, Zak is an established brand throughout the power industry. Its services cover the gas turbine, steel, and specialty metals industries.
"RLJ Equity Partners is delighted to support LAI's acquisition of Zak Incorporated," says RLJ Equity Partners' T Otey Smith. "With its strong customer base in key end markets, Zak helps to further expand the LAI brand
Cabot Square Capital has agreed the sale of Equitix to a subsidiary of Tetragon Financial Group for GBP160 million.
The transaction, which represents a 12x return on invested capital for Cabot Square Capital, remains subject to regulatory approval.
Cabot Square Capital established Equitix in 2007 to benefit from the emergence of infrastructure assets as an institutional asset class. Equitix has since become a leading integrated infrastructure asset manager with over GBP1 billion funds under management across three 25-year core-infrastructure funds focused on mid-sized infrastructure projects and two energy-efficiency funds.
Earlier this month, Cabot Square Capital announced an 18x
This year began on a positive note for investors in US private equity and venture capital funds, with both asset classes earning positive returns for the three-month period ending 31 March 2014.
While venture capital outperformed private equity for the second quarter in a row, both asset classes easily bested the public markets, according to Cambridge Associates LLC benchmark indexes.
Q1 marked the seventh and tenth consecutive quarter of positive returns, respectively, for the private equity and venture capital benchmarks.
The Cambridge Associates LLC US Private Equity Index rose 3.1 per cent in the first quarter versus the
Prime Meridian Capital Management has launched the Prime Meridian Small Business Lending Fund, giving investors the opportunity to invest in the growing sector of P2P small business lending.
Prime Meridian’s Income Fund was one of the first P2P lending funds in the US, with over 29 consecutive months of profitable returns without a single drawdown, and has a well-established track record. Prime Meridian has expanded its offerings by moving into the small business P2P lending space.
P2P lending is the practice of lending money to unrelated individuals (i.e. peers) without going through traditional financial institutions such as banks or
Preqin looks at the performance of hedge funds in Q3 2014 and in 2014 so far.
Please click here to download Preqin's Hedge Fund Performance Update: Q3 2014
Preqin provides the most up-to-date hedge fund performance benchmarks.
Click here to download Preqin's Hedge Fund Performance Benchmarks: Q3 2014
Despite a slight fall in fundraising in Q3 2014 compared to the previous quarter, the total capital raised in 2014 so far remains strong, with the USD63bn raised in the first three quarters of the year surpassing the USD56bn raised during the same period last year. However, the number of funds reaching a final close has declined from 166 to 121 over this time period, and almost two-thirds of capital raised by funds holding a close in Q3 came from just five firms, suggesting that capital is increasingly concentrated among fewer managers.
Please click here to download the Preqin Quarterly Update:
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