Managers
Law firm HowardKennedyFsi has advised Christian Nellemann, chief executive and founder of XLN, following the decision by private equity firm ECI Partners to sell its stake in XLN to its management team.
XLN is a provider of fixed line and mobile telephony, broadband, energy and card processing services to small and micro businesses across the UK.
XLN’s management team is financing the purchase through vehicles managed or advised by GSO Capital Partners, a division of the Blackstone Group.
Paul Glassberg, a partner in HowardKennedyFsi’s corporate team, says: “I have been advising Christian for a number of years and
Samchully Asset Management has acquired a 34 per cent interest in Cardinal Gas Services (CGS), located in Ohio’s Utica Shale play, from TOTAL E&P USA and EV Energy Partners, who owned 25 per cent and nine per cent of CGS, respectively.
The total purchase price of USD544 million (USD612 million including purchase price adjustments) is comprised of 100 per cent cash. For purposes of the acquisition, Samchully AMC has established a special purpose vehicle that is owned by a new fund, with investors comprised of Korean pension funds and E1, a Korean strategic investor.
CGS is a wet gas
JZ Capital Partners Limited (JZCP) is to sell its equity interest in Milestone Aviation Group to GE Capital Aviation Services.
JZCP first invested in Milestone Aviation in September 2010, investing a total of USD15.1 million to date.
JZCP is expected to receive a total of USD40 million from the sale, representing an estimated multiple of equity Invested of 2.8x and an IRR of 36 per cent.
Milestone Aviation is the world’s largest helicopter leasing company headquartered in Dublin, Ireland. The company is focused on leasing helicopters to the oil and gas, and mining industries, as well as to
Deutsche Asset & Wealth Management’s DB Private Equity has held the first and final close of its Secondary Opportunities Fund III (SOF III) at the USD1.655 billion hard cap.
SOF III is dedicated to acquiring a diversified set of private equity fund interests and assets in the secondary market globally.
Carlo Pirzio-Biroli, global head of DB Private Equity and co-head of DB PE Secondary Funds, says: “We are very pleased to have received support from an impressive roster of institutional and private clients globally. In line with our proven value investing approach, we expect to deploy capital consistently across
Singaporean venture capital firm Infocomm Investments has launched in London and is extending its USD200 million fund to European tech start-ups.
At a launch event held at Central London’s Southbank Centre, the chairman of Infocomm Investments and executive deputy chairman of Infocomm Development Authority of Singapore, Steve Leonard, announced the fund’s first investment in Europe into the FinTech accelerator, Startupbootcamp FinTech.
Leonard says: “There are many smart cities around the world, but Singapore is building itself into a smart nation. This means we want to use exciting new technologies to better serve citizens of all ages and companies of all
AMP Capital has launched its Global Infrastructure Fund and has attracted a significant commitment from global private equity and infrastructure investor Pantheon into its global infrastructure platform.
AMP Capital has created the platform by converting its Strategic Infrastructure Trust of Europe (SITE) from an open-ended to a closed-ended European fund and launching the Global Infrastructure Fund.
SITE’s existing portfolio comprises USD750 million worth of assets, which will be shared with the Global Infrastructure Fund. The fund is aiming to raise a further USD1.25 billion of new commitments, giving the global infrastructure platform an overall target size of USD2 billion.
The value of global private equity deals targeting Africa has more than doubled (137 per cent) in the first half of 2014 compared to the same period last year, according to research by global law firm Freshfields Bruckhaus Deringer.
Global PE funds completed 15 deals collectively worth USD1.5bn in the period between 1 January 2014 and 30 June 2014, up from 10 deals totalling USD621m in the first half of 2013. As a proportion of total African PE spend (83 per cent in 2014 H1) and deal volume (44 per cent in the same period), global PE firms are now
HIG Capital’s portfolio company Onyx Payments has acquired Norway-based Net Trans Services and Spain-based Worldwide Payment Systems (WPS).
Headquartered in Dallas, Texas, Onyx acts as a global clearinghouse for hotel commissions, processing transactions in over 200 countries and 29 currencies. As a result of the acquisitions, the company will seek to eliminate payment processing barriers and improve efficiencies, while increasing commerce transparency between hotels and travel distributors.
"We are pleased to support Onyx in its acquisitions of Net Trans Services and Worldwide Payment Systems," says William Nolan, a managing director of HIG Capital. “The acquisition will expand Onyx’s geographic
More insurance companies across the EMEA region see themselves as sellers of business units rather than buyers over the next three years, according to a survey by Towers Watson and Mergermarket.
More than 60 per cent of respondents said they expected to divest operations before 2017, up from just 20 per cent who said the equivalent just a year ago.
Meanwhile, the percentage of organisations saying they expect to make an acquisition in the same three year timeframe has fallen from over two thirds (69 per cent) to well under half (42 per cent).
Fergal O’Shea, EMEA life
European Senior Secured Loan Programme (ESSLP), a joint venture between affiliates of Ares Management and GE Capital, has reached a total of EUR1 billion in commitments since inception in 2012 with the completion of its 10th transaction.
ESSLP’s investments are made through the Ares European direct lending team, Ares Capital Europe, and GE Capital, primarily in the form of unitranche loans.
The GBP120 million refinancing of Notemachine, a portfolio company of Corsair Capital and an owner and operator of ATM machines across the UK and Germany, was the first credit facility upsize for the ESSLP. In January 2014, the
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