Managers
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 competed 15 deals collectively worth USD1.5bn in the period between 1 January 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
Carolon Capital and Red Rocks Capital are planning to launch a UCITS fund with an investment strategy focused on listed private equity.
The Red Rocks Global Private Equity UCITS Fund is targeted for launch in late 2014 or early 2015 subject to various regulatory approvals from the Central Bank of Ireland.
Through an open-ended structure, the fund will be organised as a sub-fund of a Dublin based corporate entity, Carolon Investment Funds plc, which will be a variable capital investment company. The authorisation of Carolon Investment is subject to regulatory approval.
Red Rocks will serve as the fund’s
Private equity firm Encore Consumer Capital has completed the sale of The Isopure Company to Glanbia plc, the Ireland-based global performance nutrition and ingredients company, for USD153 million.
Robert Brown, managing director of Encore Consumer Capital, says: "Isopure's founder Hal Katz decided to bring on a strategic and financial partner in 2007, and Encore was well positioned to help the company grow. We could not be more proud of what the team has accomplished in building the premier brand in protein-based sports nutrition."
"Encore provided strategic guidance and unwavering confidence in our team to execute our vision," says Hal
Neuberger Berman Private Equity has exceeded total committed capital of USD1 billion from Japanese and Korean investors.
Neuberger Berman managed approximately USD31 billion in alternatives assets for institutional and individual investors as of 30 June 2014.
"We are very pleased with continued client interest in our private equity capabilities, reflecting our nearly 30 years of dedication to generating performance,'' says Anthony Tutrone, global head of Neuberger Berman Alternatives. "Our global investment team conducts extensive due diligence on numerous investment opportunities, enabling us to select the most attractive private equity investments."
"We are excited to have such a remarkable
Funds managed by affiliates of Apollo Global Management have launched Alteri Investors, a joint venture focused on financing opportunities arising across performing, stressed and distressed retail sector situations in Europe.
Structured as a partnership between funds managed under Apollo’s credit business (Apollo Credit) and a team led by former GA Europe chief executive Gavin George, Alteri will initially focus on the UK and Germany.
It expects to invest in retailers through both debt and equity transactions, typically in the GBP10 million to GBP50 million range, with additional capacity for larger transactions.
Alteri will also seek to lend to retailers directly,
Chelverton Asset Management (CAM) has completed the acquisition of Electrobase RP Limited for GBP3.9 million, its second transaction since the launch last year of its Investor Club proposition.
Chelverton Investor Club has raised GBP2m of equity from its high net worth membership towards the transaction, together with an institutional investor partner which it introduced to the transaction – Chrysalis VCT PLC.
Supporting debt finance was provided by Santander.
Electrobase is an engineering firm undertaking precision sheet metal work, using the latest computerised technology alongside its particular specialism, aluminium salt bath dip brazing. The company is one of only
Tikehau IM has held the final closing of its latest senior leveraged loans fund, Tikehau Corporate Leveraged Loan Fund (TCLLF), at EUR230 million, lifting the amount of AUM in its senior leveraged loan strategy to more than EUR700 million.
Tikehau IM sourced commitments from about 10 institutional investors, most of which were insurance companies, who valued the diversification and prospective returns as well as the new regulatory provisions which allow them to count this new type of fund towards their solvency capital requirement.
Mathieu Chabran, managing director of Tikehau IM, says: “We are very pleased with the reception we
Alter Domus, a provider of fund and corporate services dedicated to private equity and infrastructure houses, real estate firms, multinationals, private clients and private debt managers, has unveiled a new corporate identity.
Alter Domus says it wants to clearly express who it is, what it does and how it is different from the competition.
“We want an identity to encapsulate who we are today, and our ambitions for our clients and our 750 employees around the world. This new identity will strengthen and modernise how Alter Domus represents its worldwide network to its clients, its people and the communities
Swedish public company The Gunnebo Security Group has completed the acquisition of Clear Image, a provider of electronic security solutions and services in the UK.
Livingstone’s Industrial sector team advised Gunnebo on the purchase.
Clear Image offers intelligent electronic security solutions. Its customer base includes banks, cash in transit companies and retailers.
“The acquisition of Clear Image is a perfect fit for Gunnebo,” says Gunnebo’s president and chief executive Per Borgvall. “It enhances our strong existing security offering and opens up new opportunities for us on the UK market within some of our core customer segments.”
Clear
Paul Hastings has advised ActivumSG Capital Management on the acquisition financing of formart, the second largest residential real estate developer in Germany, from Hochtief Solutions.
ActivumSG Capital Management is a European fund manager that invests in niche opportunities in real estate related sectors by identifying high quality, but undervalued assets with unrealised potential.
formart is one of Germany’s largest real estate developers in major metropolitan areas. The company designs, builds and sells residential real estate projects for private clients and institutional investor and has, at present, a pipeline of around 70 projects with a volume of approximately EUR1.3 billion.
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