Allocations
Toshiba, currently courted by numerous PE groups, confirmed it has ‘received an initial proposal’ from CVC this week and will ‘ask for further clarification and give it careful consideration’, in what looks like a process which could become Japan’s largest ever buyout deal.
Toshiba issued a statement on 9 April saying that the initial proposal is conditional on clearance of anti-trust regulation, as well as the Foreign Exchange and Foreign Trade Act of Japan, and necessary financing.
The corporation also said that the proposal involved seeking finance assistance from co-investors and financial institutions in pursuing the proposed transaction. “We expect
TMF Group, a provider of global administrative services – including fund accounting and administration – has today completed the acquisition of Venture Back Office (VBO), a US based third-party provider of solutions to private equity, real assets, credit, and emerging manager funds.
As a result, TMF Group will now administer more than EUR150 billion worth of assets on behalf of its global fund manager client base.
The acquisition is a key milestone in TMF Group’s strategy to continue to grow its global fund services business and bolster its capabilities in the North American market, particularly in the US. The
Texture Capital, an institutional marketplace for private capital, is partnering with COSIMO X, a venture capital fund that invests in opportunities in emerging next-generation technologies.
Texture Capital’s ATS will support capital raising and secondary market trading of the COSIMO X digital tokens and enable COSIMO X to reach a broader network of investors and offer secondary market liquidity opportunities not typically available to institutional investors.
Through Texture Capital’s online marketplace, investors will be given streamlined access to the COSIMO X venture capital fund. COSIMO X’s innovative tokenised structure offers investors opportunities for increased liquidity and the ability move funds in
PSG, a growth equity firm that focuses on partnering with middle-market software and technology-enabled service companies, has acquired a majority stake in Nalanda Global (Nalanda), a leading Software-as-a-Service (SaaS) company providing supplier risk management software solutions.
Nalanda leverages intelligent cloud software to connect companies and suppliers using a digital platform that enables the smooth exchange and verification of health and safety, due diligence, suppliers validation, invoices and other business information as well as providing solutions to ensure compliance with worker access, working time and e-invoicing legislation. Nalanda’s solutions reduce time, cost and risk, as well as facilitating a transparent relationship
The number of M&A deals for professional services firms rose from 76 in 2019 to 89 in 2020 – including 19 acquisitions backed private equity funds – with the appetite of PE houses for deals in the sector growing, says Mayer Brown, the global law firm.
Mayer Brown says the recent sales of the restructuring arms of Big Four accountancy firms KPMG and Deloitte have highlighted the increased interest in professional services firms from PE funds. KPMG sold its restructuring practice to HIG Europe, while Deloitte sold its restructuring practice to professional services platform group Teneo, owned by CVC Capital
KPS Capital Partners (KPS) is to acquire the Europe, Middle East and Africa food, aerosol and promotional packaging business (EMEA Food and Consumer Packaging Business) from Crown Holdings for EUR2.25 billion (USD2.7 billion). Crown will retain 20 per cent ownership of the Company.
The transaction is expected to close in the third quarter of 2021 and is subject to customary closing conditions and approvals.
The EMEA Food and Consumer Packaging Business is the largest manufacturer of steel and aluminum food packaging in Europe and is a leading manufacturer of aerosol and promotional packaging. The Company is critical to the
AIA Group Limited (AIA) has established AIA VCC, a Variable Capital Company in Singapore as part of its group wide investment programme to facilitate capital deployment globally.
The Investment Manager of AIA VCC is AIA Investment Management Private Limited (AIAIM) that was established in 2016 as the Group level asset management company and with reported assets under management of SGD178 billion as at the end of 2020.
AIA is now exploring how the recently introduced VCC framework can support AIA’s investment programme with particular focus on balance sheet exposure to specialist and alternative investment strategies.
Thompson Street Capital Partners (TSCP), a private equity firm based in St Louis, MO, has announced that its portfolio company Len The Plumber (LTP), a specialist full-service residential plumbing company headquartered in Baltimore, Maryland, with branches serving the Mid-Atlantic region, has completed the acquisition of Neffsville Plumbing, Heating & Cooling Services (Neffsville), a full-service residential plumbing and HVAC company headquartered in Lancaster, Pennsylvania. Terms of the transaction have not been disclosed.
“Neffsville and LTP share not only a similar geography but, most importantly, a commitment to customer service excellence and to being recognized within our industry as an employer of
Phoenix Group (Phoenix), the UK’s largest long-term savings and retirement business, announces the launch of its first dedicated Venture Capital fund, “Phoenix Venture Capital Partners”, with an initial allocation in excess of GBP100 million.
This move is designed to enable Phoenix to construct portfolios that include exposure to Venture Capital for Phoenix Life Unit-Linked and With-Profits policyholders, diversifying into an asset class that has until now been largely reserved for institutional investors. This is the first allocation to Venture Capital in the policyholder funds, and the first allocation to Patient Capital in the Unit Linked funds.
Developed and administered
Level E Research, the Edinburgh based leader in artificial intelligence (AI) investment solutions, has just closed a seed funding round raising GBP1.2 million from a group of private investors, including leading figures in the investment management industry.
The business, founded by Dr Sonia Schulenburg in 2018, combines machine learning, data science and behavioural economics enabling institutional investors to develop, test and implement smart investment strategies at the highest levels of automation and at significantly lower cost than traditional investment management business models.
Dr Sonia Schulenburg, CEO of Level E Research, says: “This very successful fundraising backed by well-known industry leaders
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