Managers
UK-headquartered international investment bank Altium has enjoyed a bumper third quarter, with the group’s deal values for the quarter exceeding GBP1bn.
During the third quarter, Altium has completed 15 transactions worth a total of GBP1.2bn. Significant deals for the group during the period include advising on the sale of online fashion retailer mytheresa.com to one of the world’s best known luxury department stores, US based Neiman Marcus in September; advising global private equity firm KKR on its acquisition of a stake in the online classified business, Scout 24; and advising on the sale of independent luxury watchmaker Ulysse Nardin to
Atlantica Hotels International has been recapitalised with equity capital from Quantum Strategic Partners Ltd, a private investment fund managed by Soros Fund Management, Tao Invest, a private investment fund managed by Tao Capital Partners, and management.
Paul Sistare, founder and CEO of Atlantica, says: "This is a positive move for our clients, employees and business. We are delighted to partner with Soros and Tao, all long-term focused investors with strong track records of supporting growth companies. Our plans for growth remain in place."
As part of the recapitalisation transaction, global lodging industry veteran Doug Geoga has joined the investor group
PHD Equity Partners has launched its second private equity fund, PHD Equity Partners Fund No2 LP.
The firm is currently fundraising and expects to reach its target size of GBP25 million this year.
Fund 2 will build on the firm’s strategy of investing in smaller UK businesses, with valuations of less than GBP10 million.
PHD’s maiden fund, PHD Equity Partners Fund No.1 LP, is on target to deliver an IRR for investors (net of all fees) of 24.6 per cent.
Highlights of Fund 1 include the sale of Liberty Services to Capita plc for over nine times
Quadriga Worldwide, a provider of guest technology managed services for the hospitality industry, is merging with the SmarTV Company, a developer of interactive entertainment solutions for commercial and consumer markets.
The merged company’s mission is to maximise guest engagement and satisfaction, enhance the HSIA and entertainment experience, and strengthen on-property value through increased revenue and operational efficiencies for hotels.
Operating under the Quadriga Worldwide brand name, the company will focus initially on North America, Europe, the Middle East and Africa where the group has existing sales and operational resources. SmarTV, which will rebrand as Quadriga Technology, will continue to
LAI International, a portfolio company of RLJ Equity Partners, has acquired Zak Incorporated, a provider of precision machined and custom fabricated components for customers in power generation, specialty metals, and oil and gas.
Founded in 1937 and headquartered in Green Island, New York, Zak is an established brand throughout the power industry. Its services cover the gas turbine, steel, and specialty metals industries.
"RLJ Equity Partners is delighted to support LAI's acquisition of Zak Incorporated," says RLJ Equity Partners' T Otey Smith. "With its strong customer base in key end markets, Zak helps to further expand the LAI brand
Cabot Square Capital has agreed the sale of Equitix to a subsidiary of Tetragon Financial Group for GBP160 million.
The transaction, which represents a 12x return on invested capital for Cabot Square Capital, remains subject to regulatory approval.
Cabot Square Capital established Equitix in 2007 to benefit from the emergence of infrastructure assets as an institutional asset class. Equitix has since become a leading integrated infrastructure asset manager with over GBP1 billion funds under management across three 25-year core-infrastructure funds focused on mid-sized infrastructure projects and two energy-efficiency funds.
Earlier this month, Cabot Square Capital announced an 18x
Prime Meridian Capital Management has launched the Prime Meridian Small Business Lending Fund, giving investors the opportunity to invest in the growing sector of P2P small business lending.
Prime Meridian’s Income Fund was one of the first P2P lending funds in the US, with over 29 consecutive months of profitable returns without a single drawdown, and has a well-established track record. Prime Meridian has expanded its offerings by moving into the small business P2P lending space.
P2P lending is the practice of lending money to unrelated individuals (i.e. peers) without going through traditional financial institutions such as banks or
Investment fund Project Innovation has exited from another Chinese credit-finance project with a gross internal rate of return (IRR) of 28.19 per cent.
Project Innovation was structured by the BRJ China Credit Fund Limited and launched last year by ADAM’s Hong Kong-based investment manager Adamas Asset Management (HK) Limited, which invested GBP800,000 in the fund.
ADAM chairman John Croft, says: “In line with the strategic repositioning of the company, we are continuing to plan the orderly disposal of our existing asset portfolio to generate cash for investment in high-yield corporate lending in Greater China, where a large number of
Funds advised by CVC Capital Partners have acquired Paroc Group from its existing institutional shareholder group for an enterprise value of approximately EUR700 million.
Headquartered in Helsinki, Paroc is a producer of stone wool insulation in the Nordic and Baltic regions, producing building insulation and technical insulation for the residential and commercial construction markets, as well as various industrial applications. The group has approximately 2,100 employees and a pan-European sales presence, supported by nine production facilities in Finland, Sweden, Lithuania, Poland and Russia.
In a five-year period under the ownership of its current shareholder group, Paroc has grown its
Carey Olsen's financial and corporate and investment funds work in the Channel Islands, the Cayman Islands and the British Virgin Islands has been recognised in the 2015 International Financial Law Review 1000 (IFLR1000) guide.
The new results come just after the firm gained tier 1 rankings across all of its Channel Island practice areas in The UK Legal 500.
The IFLR1000 is a guide to the world’s leading financial law firms and is based on independent research which includes interviews with the featured firms, client and competitor feedback and market analysis from the past 12 months.
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