Managers
Tailor-made wintersports operator Ski Solutions has supported the management buyout of Highlands-based adventure operator, Wilderness Scotland, after securing GBP3.1 million of follow-on investment funding from Mobeus.
Wilderness Scotland is a tour operator based in Aviemore in the Scottish Highlands, which offers a range of walking, cycling and kayaking tours in Scotland, the North of England and Ireland.
The enlarged group has been renamed Active Travel Group and will comprise Wilderness Scotland and its sister brand Wilderness Ireland, alongside Ski Solutions and outbound cycle and walking operators BSpoke and Cycling for Softies.
The Active Travel Group expects to have
IF&P Foods, a portfolio company of middle market private equity firm Rotunda Capital Partners has acquired Cibus Fresh on July 31 2018.
Terms of the transactions have not been disclosed.
Cibus Fresh is an Indiana-based food service company specialising in high-quality made-to-order packaged convenience foods. The acquisition will accelerate the growth of IF&P by expanding its convenient grab-and-go offerings to include chef-curated sandwiches, wraps, flatbreads, salads, snack packs and parfaits cups. It will also provide an 11,000 sq ft state-of-the-art FDA and USDA inspected kitchen facility certified with the Federal Grant of Inspection to ensure optimum food safety and
FnB Private Equity has held the final close of FnB Europe Fund, its first European fund specialised in the food and beverage industry. FnB Europe Fund has raised EUR134.5 million, surpassing the EUR120 million initially targeted.
A first closing at EUR101 million was announced in April 2018.
The fund is backed by institutional investors including fund of funds, insurance companies, regional banks and pension schemes, and the remaining by entrepreneurs, family offices and the FnB team. The fund received almost 40 per cent of its subscriptions from European investors based outside France.
The fund invests in controlling positions
The summer saw the launch of a new investment platform, AtomInvest, which is designed to democratise access to alternative investment funds across private equity, venture capital and hedge funds.
Founder and CEO of AtomInvest Hemal Mehta explains that he has a background in financial services and private equity and had increasingly realised that while these funds have consistently delivered high returns to investors of around 10 to 25 per cent over the last half century, they were pretty much designed for large institutional investors.
“Alternative investments are great manufacturers of returns in up markets and down markets,” he says. “However,
Green Arrow Capital has held the final closing of its third buyout fund with total commitments of EUR230.6 million.
Green Arrow Capital partners, who recently acquired the majority stake of the asset management company (previously denominated Quadrivio Capital SGR), have actively participated in the success of the fund raising. The commitment has been raised mainly from institutional investors, for a 90 per cent of the total amount, while the residual 10 per cent comes from the team, the firm and HNWIs.
The Fund started its activity at the beginning of 2016 and has already made three investments and two
UCITS and AIFs recorded net sales of EUR28 billion in Q2 2018, a significant decrease on the EUR222 billion of sales seen in Q1, according to the latest European Fund and Asset Management Association (EFAMA) Quarterly Statistical Release for the European investment funds industry.
Multi-asset funds and other funds registered net inflows of EUR25 billion and EUR30 billion, respectively. Equity, bond and money market funds, meanwhile recorded net outflows of EUR0.3 billion, EUR7 billion and EUR19 billion, respectively.
UCITS registered net sales of EUR15 billion in Q2 2018, compared to EUR171 billion in Q1, with long-term UCITS (UCITS excluding money market funds)
Ropes & Gray has advised Oberland Capital on the successful closing of its second royalty and credit opportunities fund, Oberland Capital Healthcare II, which announced that it closed at its hard cap of USD800 million in capital commitments on 6 September.
Fund II will target investments between USD20 million and USD150 million with a focus on commercial stage or near-commercial stage biopharmaceutical, medical device and diagnostic companies and royalty-bearing products. Investors in Fund II include public and corporate pension plans, financial institutions, foundations and endowments located in the United States, Europe and the Middle East.
Founded in 2013, Oberland
O’Melveny has represented Solace Capital Partners in acquiring a majority interest in Fabcon Holding Corporation, a manufacturer of precast, pre-stressed concrete wall panels, from Platinum Equity, which acquired Fabcon in 2016.
Fnancial terms of the deal have not been disclosed.
Fabcon’s structural precast wall panels are used primarily in the construction of warehouses and distribution centres as well as mixed-use office, industrial, data centres and retail facilities. Fabcon serves the eastern half of the US through its four strategically located manufacturing facilities in Minnesota, Ohio, Pennsylvania and Kansas.
Solace Capital Partners is a private investment firm focused on
Grasshopper Solar, a Canada-based solar energy company, has made a USD80 million investment in Setouchi Koken’s Iizuka Solar Plant located in Fukuoka, Japan.
This 21.6MW ground mount project will utilise 65,455 solar panels, generate 26,136 MWh of clean energy and offset 19,451 tons of carbon emissions per annum.
The Iizuka Power Plant will be developed by Setouchi and its Japanese partners with construction commencing in Q4 2018, and is expected to achieve commercial operation by Q3 of 2020. This project, once completed, will participate in the country’s Feed-in Tariff program with a 20-year JPY36/kWh contract awarded by METI (Ministry of
Strata Fund Solutions (Strata), a fund service administrator for venture capital, private equity and other alternative asset managers and allocators, has closed a significant growth equity investment from FTV Capital.
Strata will continue investing in technology, product and client-centric service enhancements to deliver highly customised client solutions. Jared Broadbent, Darren Benson and Nathan Rees, Strata’s co-founders and managing partners, will continue their leadership of Strata and remain significant shareholders in the company. As part of the transaction, FTV Capital managing partner Brad Bernstein and partner Kyle Griswold will join the founders on the company’s board of directors. StepStone Group, a
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