Managers
Neology is to acquire the tolling and automated license/number plate recognition business of 3M’s traffic safety and security division.
Neology is a subsidiary of SMARTRAC, a portfolio company managed by One Equity Partners (OEP), a middle-market private equity firm.
The transaction is expected to close by the third quarter of 2017, subject to customary closing conditions, regulatory approvals and consultation or information requirements with relevant works councils. Terms of the private transaction were not disclosed.
The business’s tolling solutions include high-quality RFID readers and tags, automatic vehicle classification systems, lane controller and host software, and back office software
Fintech and payment solutions provider Tuxedo Money Solutions has been acquired by Erik Fällström and Andreas H Tuczka, of Aldridge EDC Specialty Finance Partners (AEDC).
Fällström, former co-founder of HOIST Finance, and Tuczka, former partner at Lone Star Europe, will support Tuxedo CEO John Sharman in delivering the company’s growth plans across Europe and beyond.
With extensive experience within financial services, the new investors will help to drive Tuxedo’s diversification and growth on four fronts: customised, white label card and payment programmes; PayTech platform solutions, centred around Tuxedo’s new Liveload technology; alternative banking services; and expansion into the consumer credit
PineBridge Investments, a global multi-asset class asset manager, has launched the PineBridge European Secured Credit Fund, co-managed by portfolio managers Julie Bothamley and Evangeline Lim and global head of credit and fixed income Steven Oh.
The investment objective of the fund is to provide investors with income returns and capital preservation from a diversified portfolio of European sub-investment grade debt obligations issued by corporations in various industries and geographical regions.
The fund will seek to achieve these returns from investing in primarily senior secured obligations.
“Senior secured debt, particularly, bank loans, carry a higher recovery rate and rank
Morrison Street Capital’s Morrison Street Debt Opportunities Fund (MSDO) has reached its target with total equity commitments of USD200 million.
MSDO provides small-balance mezzanine capital, with investment balances generally ranging from USD2 million to USD10 million, to real estate market participants across a diversified set of property types in the top 100 MSAs nationwide.
MSDO’s investments are structured as either mezzanine debt, B-notes or preferred equity, tailored to meet the specific needs of each situation.
Morrison Street Capital formed MSDO to capitalise on the current opportunity in the debt capital markets, as well as to leverage its experience
Surgery Partners is to merge with National Surgical Healthcare (NSH) after acquiring the company from Irving Place Capital for approximately USD760 million.
Funding for Surgery Partners’ acquisition of NSH will be provided in part by Bain Capital Private Equity, who as part of the transaction, is injecting capital in exchange for a preferred security in the company.
In conjunction with this transaction, Bain Capital Private Equity will acquire HIG Capital’s existing equity stake in Surgery Partners.
The transaction builds upon each company’s physician-centric services model. It creates a diversified inpatient and outpatient surgical provider with a portfolio of
Apex Fund Services has agreed a recapitalisation deal with middle-market private equity firm Genstar Capital and is also to acquire Equinoxe Alternative Investment Services.
Headquartered in Bermuda, Apex was founded in 2003 by Peter Hughes (pictured) and today provides back office, middle office, regulatory reporting and other administrative services to a global customer base of asset managers across all asset classes.
With the addition of Equinoxe, Apex will increase its suite of middle office solutions and will administer close to USD80 billion in assets.
With enhanced capabilities, global reach and capital support from Genstar, Apex has a goal
Finance platform Lendable has secured a USD550,000 debt financing for Raj Ushanga House (RUH), the Kenya distributor for Azuri Technologies, a provider of pay-as-you-go (PayGo) solar energy solutions.
Using a data driven “receivables financing” solution, capital is secured by future customer revenues from a portfolio of over 7,000 RUH PayGo solar customer contracts, and is the first such financing by Lendable for a PayGo energy company.
Raju Haria, CEO of Raj Ushanga House, says: “The debt financing from Lendable marks an exciting chapter for RUH. It enables us to reach more customers and finance their ownership of these assets.
Star Tech NG, the UK’s first portfolio company focussed on pre-IPO US tech giants, will shortly commence a second round of funding to raise in excess of USD50 million through a listed Guernsey fund.
Accredited investors are still able to participate in its first funding round up to a total of USD5 million.
The new funds will be invested in an expanded portfolio of pre-IPO disruptive technology companies and next generation scale-up stage businesses.
Star Tech NG is the UK’s first investment vehicle to focus directly on privately held US technology companies and has already invested USD1 million
White Oak Global Advisors has rebranded Capital Business Credit, the finance lender and provider of asset-based loans, factoring and trade finance products which it acquired in December 2016, as White Oak Commercial Finance.
“The White Oak Commercial Finance platform will provide asset-based loans, equipment financing, factoring, working capital solutions and credit services, ranging from USD1 to USD100 million, to small- and middle-market companies. This provides a greater number of companies with access to more capital and services than previously offered by either White Oak or CBC individually,” says Andre Hakkak, CEO of White Oak.
White Oak, together with White
Pictet Alternative Advisors (PAA), the alternative investment specialist of the Pictet Group, has held the final close at USD815 million of Monte Rosa IV, the fourth fund in a series of diversified, multi-manager private equity funds.
Maurizio Arrigo, head of private equity at PAA, says: “This is 2.5x bigger than the predecessor fund that closed in 2015. This successful fundraising comes as a confirmation that private equity has now become a major asset class, playing a meaningful role in most investors’ strategic allocation.”
Monte Rosa IV will invest mostly in North American and European buyout funds and to a
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