Managers
Funds managed by Inflexion Private Equity have agreed the buyout of Xtrac Ltd, a specialist in the design and manufacture of high performance transmissions for the motorsport and automotive industry.
Xtrac supplies most of the world’s top motorsport teams in both two and four-wheeled formulae across the globe, from MotoGP to Formula 1. The business enjoys strong EBITDA growth; over 80 per cent of the British manufacturer’s’ revenue is generated through exports, particularly for high performance automotive applications including hybrids and electric vehicles.
Inflexion is backing Xtrac’s well established management team, who will remain with the business. Inflexion’s investment
FinEX Asia’s private equity fund manager has closed an investment of USD50 million in Prosper Marketplace, a US online marketplace lending platform for consumer loans.
“FinEX Asia is excited to complete the Series G financing into Prosper, a leader in marketplace lending in the US,” said Maggie Ng, CEO of FinEX Asia. “Our team’s expertise is in fintech and consumer lending. Our investment strategy starts with the U.S. because of our strong network with online marketplace lenders. In parallel we are considering investment opportunities in other verticals globally.”
Founded earlier this year by Maggie Ng, a former Consumer Lending
CBFI Investment Limited (CBFI), a newly incorporated company indirectly owned by Canyon Bridge Fund I (Canyon Bridge) – a fund managed by US headquartered Canyon Bridge Capital Partners – is to acquire the entire ordinary share capital of Imagination Technologies Group (Imagination).
The price of 182 pence per share represents a premium of approximately 47.4 per cent. to the Imagination share price on 21 June 2017, the day immediately before the announcement by Imagination of the start of a formal sale process of 123.5 pence per share.
CBFI currently has no plans to make any changes to the continuing employment of employees and management, nor
Appleby Cayman has acted as Cayman Islands counsel to the Ad Hoc Group of Creditors on the financial restructuring of Ocean Rig UDW Inc and three of its subsidiaries by way of four inter-connected Cayman Schemes of Arrangement and Chapter 15 recognition.
The restructuring resulted in a net debt reduction of approximately USD 3.25 billion and involved the provision of a new USD 450 million credit facility. Creditors received ordinary shares, cash and new loan notes in consideration of the release of debt. In addition, potential claims against the group were transferred into a preserved claims trust to allow creditors
Private equity fund manager YFM Equity Partners (YFM) has invested in the GBP9 million transaction into 4net Technologies Ltd (4net) to support the continued growth of the business through new product and market development.
YFM’s investment is the fourth investment from its YFMEP 2016 Fund.
4net develops and provides contact centre and telephony solutions to UK enterprises and central and local government. It is one of a small number of Avaya top-level Diamond partners in the UK and has a range of other accreditations, and is the provider of the “Antenna” platform to a number of central government departments.
Fidelity Clearing & Custody Solutions, the division of Fidelity Investments that provides clearing and custody to broker-dealer firms, registered investment advisors (RIAs), family offices, retirement recordkeepers and banks, today released the latest report in its Fidelity Wealth Management M&A Series; ‘Insights from Independent Broker-Dealers’ (IBDs).
The report found that, year-to-date, USD136 billion in assets changed hands among Independent Broker Dealers (IBDs) as a result of five deals. This compares to the USD80 billion spread across 82 deals among RIAs during the same time period.
The report looks at how fewer, but bigger, M&A transactions are altering the future of
Capital Network, a financial technology platform aiming to democratise alternative investments for high-net-worth (HNW) individuals and their advisors, is to acquire the US Private Equity Access Fund Platform from the Asset Management division of Deutsche Bank.
The US Private Equity Access Fund Platform is comprised of 33 funds representing a range of investment strategies and underlying managers with approximately USD2.5 billion in invested assets and more than 7,000 domestic and international investors. iCapital Advisors LLC, an SEC registered investment adviser, will take over as investment manager for the portfolio of private equity access funds and iCapital’s end-to-end technology solution will
Monarch Private Capital (MPC), a leading syndicator and investor of tax credits, has closed an equity investment in the historic Hotel Clermont located in Atlanta, Georgia. The investment will generate both federal and State of Georgia historic tax credits.
The famous landmark is being converted into a boutique hotel by BNA Associates with 94 rooms, a French style brasserie restaurant, a café and rooftop bar with beautiful Atlanta skyline views. The Hotel Clermont, with approximately 59,752 square feet of space, was originally built as an apartment complex, but was converted into a hotel in the 1940s. In 2003, the property
Hyperloop One, the only company in the world that has built a full-scale Hyperloop system, has closed a Series B-1 funding round of USD85 million, bringing total financing raised by the company to USD245 million since its founding in 2014.
“We are so fortunate that our new and existing investors share our vision of making Hyperloop the world’s first new mode of transportation in over a century. We initially targeted USD50 million and ended up raising $85 million instead,” says Shervin Pishevar, Executive Chairman and co-founder of Hyperloop One. “We’ve proven that our technology works and that Hyperloop One is
Private equity firm Falfurrias Capital Partners (FCP), has completed an investment in SixAxis, a manufacturer of advanced products that increase worker safety and boost productivity.
The existing SixAxis management team will remain, led by Rob Honeycutt as CEO, and Fred Harmon as co-founder and member of the board of directors. Ken Walker, who was most recently chief operating officer of EnPro Industries, will join the SixAxis team as Executive Chairman.
“SixAxis is excited to partner with FCP on the next stage of our company’s growth,” says Rob Honeycutt, CEO of SixAxis. “The capital and strategic acquisition expertise that FCP
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