Managers
The slowdown in deal activity ahead of the EU Referendum in June continued after the surprise outcome, with year-on-year activity down 38 per cent from EUR89.7 billion in 2015 to EUR55.7 billion in 2016, according to the Centre for Management Buyout Research (CMBOR).
The latest data from CMBOR, which is sponsored by Equistone Partners Europe Limited and Investec Specialist Bank, reveals that the fall was more marked in the UK, where activity plummeted from EUR28.7 billion last year to EUR12.5 billion this year, the lowest level of buyout activity since 2009.
For the whole of Europe the drop was
SS&C Technologies, a provider of financial services software and software-enabled services, has acquired Conifer Financial Services, an independent asset services firm, for an aggregate purchase price of USD88.5 million.
Senior management of Conifer will continue to lead the business.
Conifer has 200 clients worldwide representing USD110 billion of combined assets under administration (AUA). Headquartered in San Francisco and with offices in New York, Singapore and Nova Scotia, Conifer services pensions, endowments, foundations, family offices, RIAs, traditional asset managers, private equity and hedge funds.
The acquisition strengthens SS&C's market position on the West Coast and provides a wider array
Mercury UK Holdco, the majority shareholder of Istituto Centrale delle Banche Popolari Italiane (ICBPI), has acquired Setefi Processing and Intesa Sanpaolo Card (ISP Card), together known as ISP Processing, from Intesa Sanpaolo for an equity value of EUR1,035 million.
Mercury UK Holdco is owned by a consortium of funds managed by Advent International, Bain Capital Private Equity and Clessidra.
Setefi Processing, based in Milan, is the Italian payment processing platform of Intesa Sanpaolo, one of Europe’s leading banking groups and Italy’s number one commercial bank.
ISP Card is the payment processing platform of Intesa Sanpaolo’s Central and Eastern
Venture capital trust (VCT) and private equity manager Maven Capital Partners’ Maven Income and Growth VCT 6 has launched a new VCT offer, which is limited to GBP6 million in new subscriptions.
There continues to be strong investor demand for the tax-free income potential and up to 30 per cent initial tax relief available on VCT investment.
Maven VCTs have launched a series of VCT fundraisings in recent years, a number of which have been oversubscribed, but Maven VCT 6 is the only Maven VCT raising funds in this VCT season.
Maven has completed three realisations within the past 15
High Growth Robotics Limited has launched the British Robotics Seed Fund – the first investment fund specialising in UK-based robotics start-ups.
The focus of the fund is to deliver returns to investors by making targeted investments in promising UK-based seed-stage robotics under the Seed Enterprise Investment Scheme (SEIS).
Automation and robotisation are beginning to drive significant productivity improvements across the global economy. According to market intelligence firm Tractica, robotics is set to grow at rates in excess of 45 per cent with the global market to approach a quarter of trillion dollars by 2021.
There are currently no
Independently owned family office Stonehage Fleming has held the final close of the Stonehage Fleming Global Private Capital Fund 2016.
In conjunction with a number of new separate accounts, this takes the total the firm has raised for investment in private capital funds over the last 18 months to USD166 million.
The 2016 Fund is the first of a series of annual funds for the international family office’s new private capital programme. Each annual fund will invest in five to seven best-in-class managers which will provide underlying exposure to between 50 and 100 high quality portfolio companies.
The
ORIX Corporation has acquired a controlling interest in RB Capital Empreendimentos, a Brazilian capital markets and asset management platform.
The acquisition leverages ORIX’s strategy to expand its growing capital solutions and asset management business in Latin America.
“This acquisition is an important step in expanding ORIX’s footprint in Latin America,” says Hideto Nishitani (pictured), ORIX USA Corporation’s chairman, president and CEO. “RB Capital has a 17-year track record and a strong team of talented professionals. A strategic alliance with RB Capital gives ORIX the ability to extend our asset management and capital market business through an established operating platform.
D E Shaw Renewable Investments has acquired the Mississippi Solar 2 project from Origis DevCo.
The project is a 52 MWAC solar power facility located three miles away from Sumrall in Lamar County, Mississippi.
Promptly following the acquisition, DESRI started construction of the project, which it expects to be completed in Q2 2017.
“We greatly appreciate the effort from all of our partners in helping launch construction on DESRI’s first project in the Southeast,” says Bryan Martin, CEO of DESRI. “We are excited to expand our footprint into Mississippi with a ground breaking project that we expect will provide
Palatine-backed EPI Group has acquired PDF Limited, an oil and gas geoscience consultancy, allowing the business to broaden its scope for supporting clients’ exploration and development programmes.
Established in 1987, Surrey-based EPI provides exploration services to the oil and gas industry, with offices in the US, Australia, Russia, France, Ghana and South America. Its services include land and marine seismic surveys, data processing, environment projects and wellsite operations.
Oxfordshire-based PDF provides exploration and production advisory services, as well as acting as the outsourced exploration department for a wide range of international clients.
The acquisition will bring a new
Harris Williams & Co has acted as adviser to private equity firm Stirling Square Capital Partners on the pending sale of its portfolio company ESE World to RPC Group.
ESE is a European provider of temporary waste storage solutions.
The pending transaction is expected to close in the first quarter of 2017 and is being led by Jeffery Perkins, Lars Friemann, Florian Ripperger and Konstantin Molinari of Harris Williams & Co’s Frankfurt office, as well as Patrick McNulty and Brad Morrison of the firm’s industrials group.
Jakob Förschner, a partner at SSCP, says: “ESE represents a true success
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