Managers
Returns on US private equity and venture capital funds remained positive in the quarter ending 30 September, 2014, though both were down from their second-quarter results.
Venture capital, benefitting from a healthy IPO market, outperformed private equity in the third quarter, while both outpaced key public market indices, according to benchmarks published by Cambridge Associates LLC tracking these alternative asset classes.
The Cambridge Associates LLC US Private Equity Index® rose 1.7% in Q3 and 10.2% year-to-date (YTD). Over the same periods, the Cambridge Associates LLC US Venture Capital Index® climbed 2.4% and 10.8%. For comparison, the S&P 500 was up
HIG Europe (HIG), the European arm of global private equity firm HIG Capital, has acquired Adelie Foods, a provider to retailers including Sainsbury’s and Boots, as well as several UK coffee shop chains.
The company has built a reputation as a provider of fresh sandwich products to supermarkets, coffee shops and the food service sector and prides itself on its in-house distribution of up to a million fresh sandwiches every day around the UK. Adelie is also behind the popular sandwich brand URBAN eat. The group expects to reach nearly GBP300m turnover in the current financial year.
Adelie was
The French National Private Equity and Venture Capital Association (AFIC) has created a Club dedicated to bringing together private equity professionals interested in Africa.
The Africa Club has been created in the wake of unprecedented economic growth witnessed in Africa over the past 10 years. The region's population is set to double by 2050, and the World Bank estimates financing needs at USD90 billion annually for the next 15 to 20 years. The Club will support the growing interest of French private equity and venture capital professionals in Africa.
It is chaired by Hervé Schricke, a seasoned private equity professional
Groupe SVP has established a presence in Canada with the acquisition of professional training and translation specialist Groupe Synesis.
Groupe SVP is also carrying out the refinancing of its acquisition debt taken out in July 2011 and proceeding with repayment of the mezzanine debt carried by IFE and CM-CIC Private Debt.
This is being done with the support of Omnes Capital, which has held a stake in Groupe SVP since 2011.
Groupe Synesis was formed from the merger of training companies Versalys and CFC and translation company Documens. Owned by two Canadian entrepreneurs, Ugo Dionne and Wiseman, the
High Road Capital Partners has acquired York Wallcoverings, the fourth acquisition for the firm’s High Road Capital Partners Fund II.
Founded in 1895, York Wallcoverings is a manufacturer of wallpaper, borders, murals, and RoomMates peel-and-stick removable and reusable wall decals. York’s portfolio of globally recognised proprietary and licensed brands includes Antonina Vella, Ashford House, Candice Olson, Carey Lind, Ronald Redding Designs, Waverly, and York.
York Wallcoverings’ products are sold through an extensive network of interior design firms and domestic and international distributors, and in online, specialty and big-box retail stores. The company sells its residential and commercial products in
Gambling industry experts have teamed up with FCA-authorised UK alternative investment fund manager Innvotec, to launch the first Seed Enterprise Investment Scheme (SEIS) aimed at the sector.
The GamCrowd 2015 SEIS Fund (the Fund) opens for investors’ commitment on Monday 9 March – a day before the start of Cheltenham Festival, where hundreds of millions of pounds will be wagered.
The fund is a joint venture between Innvotec and GamCrowd, a betting and gaming specialist crowdfunding and crowdsourcing platform that is also FCA regulated.
GamCrowd has already begun assessing opportunities for investment and only companies judged to meet
Fairway America has made a USD1 million commitment from one or both of its two funds, Fairway America Fund VI, LLC and Fairway America Fund VII, to Colonial Capital Management's new USD100 Million Colonial Impact Fund-II.
In addition, Colonial will be listed on the SBREfunds.com (http://sbrefunds.com) crowdfunding marketplace, which focuses exclusively on pooled fund offerings and information in the pooled real estate investment space. SBREfunds.com is building the world's leading community of fund managers, and Colonial's listing will generate immediate exposure to high-net-worth accredited investors seeking opportunities in real estate asset-based pooled investment funds.
The recently launched platform provides accredited
Ogier in the BVI has acted with Watson, Farley & Williams LLP, London office and Ewing & Jones, Houston office to advise Petroserv Marine on its USD1.7bn loan facilities with Nordea Bank Finland.
The Ogier transaction team was led by Managing Associate Christopher Newton with Partner Ray Wearmouth.
Ogier has seen a notable increase in the number of British Virgin Islands companies being used in shipping structures over the last 12 months. During this period Ogier has advised on several shipping structures with an aggregate financing value of over USD3.5bn.
Macquarie CAF Lending, part of Macquarie’s Corporate and Asset Finance group, has provided a customised unitranche financing solution to support the acquisition of Logibec, Inc by GI Partners.
This transaction demonstrates Macquarie CAF Lending’s ability to structure timely and comprehensive unitranche financing solutions for the financial sponsor community.
Bill Eckmann, a Managing Director of Macquarie CAF Lending, says: “We are excited to work with GI Partners and be their financing partner. Logibec's market leading position, long-standing customer relationships, and recurring revenue model provide a foundation for continued growth."
Howard Park, Managing Director at GI Partners, adds: "Macquarie CAF Lending created
MOD Pizza, a fast casual artisan pizza restaurant operator, has closed a USD40 million funding round led by PWP Growth Equity, a private equity fund managed by Perella Weinberg Partners.
This brings the total equity raised by MOD to more than USD70 million.
“MOD has always focused on building for the long-term, and this infusion of capital will allow us to invest significantly in strengthening our business as we accelerate the opening of company-owned stores across the country,” says Scott Svenson, co-Founder and Chief Executive Officer of MOD. “The PWP Growth Equity team brings an enormous amount of value to
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