Managers
Strategic Partners Fund Solutions has held the final closing of Strategic Partners Fund VI, its sixth secondary fund, at the hard cap of USD4.4 billion.
SP VI began investing in April 2014 and is focused on generating attractive, risk-adjusted returns by acquiring portfolios of high-quality private equity interests and co-investments.
Strategic Partners sourced commitments from almost 300 investors, including public, corporate and foreign pension funds, financial institutions, sovereign wealth funds, endowments, foundations and family offices. High net worth individuals also participated via private banking vehicles. Strategic Partners’ investor base is composed of limited partners in the US, Canada, Europe,
A total of USD59bn has been invested in 5,272 venture capital deals globally in 2014 so far, compared to USD37bn invested in 5,940 deals over the same period in 2013, an increase of 60 per cent, according to Preqin.
While activity for the third quarter is below that of Q2 2014, the amount of capital invested is 45 per cent higher than during the same quarter in 2013.
A total of 1,664 financings took place in Q3 2014 valued at an aggregate USD19bn. This represents an eight per cent drop in the number of deals compared to the previous
Law firm White & Case has advised private equity firm Welsh, Carson, Anderson & Stowe on the EUR820 million sale of Dutch-based full service payment service provider GlobalCollect to Ingenico.
GlobalCollect employs around 500 people and helps clients accept payments from more than 170 countries in more than 150 currencies, using in excess of 150 local payment methods including all major credit cards, debit cards and alternative payment methods.
London-based White & Case partner Ross Allardice, who led the team which advised GlobalCollect, says: “We were very pleased to advise and support GlobalCollect and its shareholders on this important
Three Hills Capital Partners, the new private equity investment platform launched in November 2013, has held the final close of its first fund at the hard cap of EUR100 million (USD127 million).
Three Hills Capital Partners was founded by Mauro Moretti, a former partner at Hutton Collins, the firm he joined in 2008 from BC Partners.
The team includes Leks de Boer, a former member of the investment team of Hutton Collins, and Michele Prencipe, who also worked at Hutton Collins as well as Clessidra.
The new fund, based on its capability to provide subordinated private debt and
In Q3 2014, 185 private equity funds held a final close and secured an aggregate USD73bn, a figure which is expected to increase by 10 to 20 per cent as more information becomes available.
This is the lowest quarterly amount of capital raised in three years, when USD66bn was secured by funds closed in Q3 2011, according to Preqin.
Despite this, fundraising for the whole of 2014 is still likely to be strong following USD111bn raised by funds closed in Q1 and USD143bn in Q2.
Buyout fundraising was down in Q3 2014; 37 buyout funds closed during the
Perella Weinberg Partners has held the final closing of its USD600 million PWP Growth Equity fund.
The fund exceeded the original USD400 million target and met the revised cap of USD600 million.
PWP Growth Equity is a private equity investment strategy focused on primarily US-based growth-oriented companies in the lower middle market, spanning the consumer, services and industrial sectors. The fund was co-founded by partners David Ferguson and Chip Baird, who joined the firm in 2012. Ferguson and Baird have worked together for over a decade and have more than 40 years of combined experience in private equity investing.
Octopus Investments is expanding its healthcare business through the acquisition of MedicX Holdings Ltd, a UK healthcare real estate investment manager.
The acquisition has been completed via Octopus’ parent company, Octopus Capital Ltd.
Octopus Capital Ltd and the MedicX management team, led by Mike Adams, have agreed to acquire MedicX from funds advised by Cabot Square Capital.
The acquisition takes Octopus’ funds under management to over GBP4.7 billion with MedicX managing GBP0.9 billion of funds across the LSE listed MedicX Fund (MXF) and two private closed-ended funds.
Octopus has been an active investor in the healthcare sector
Europe-targeted M&A through to the end of the third quarter has already surpassed 2013 values by 11.4 per cent, with deals totalling USD714.7 billion, according to Mergermarket.
A rise in valuable European targets coming to market so far this year has been one driver for corporates seeking assets – over 200 more targets were purchased compared to Q1-Q3 2013 (854 exits), resulting in 1,055 deals launching 39 per cent higher than 2013’s total value at USD281.3 billion.
The growing presence of US companies increased total deal value and also boosted inbound M&A to an all time high. The value
Albion Ventures has raised over GBP21m across its six venture capital trusts through its offers for subscription in the 2013/14 and 2014/15 tax years.
The offers closed at midday on 30 September 2014.
Due to the high levels of investor demand that followed the launch of its top-up offers in November 2013, Albion decided to extend the opportunity to invest in the six VCTs it manages through a prospectus offers in March 2014.
The offers provide investors with immediate exposure to six mature Albion VCTs, comprising a GBP250 million diversified portfolio of 80 businesses. These range from asset-backed
General Catalyst Partners (GC) has launched the GC Stripe Platform Fund, a programme in which GC plans to invest USD10 million in venture capital for businesses and applications built on the Stripe Connect platform.
Stripe Connect enables businesses to connect their Stripe account (and their Stripe data) with other services: with a single click, a company can start selling on Twitter, integrate with their web analytics, or access their Stripe data on a mobile device.
“We have watched this ecosystem develop with great interest,” says Hemant Taneja, managing partner at General Catalyst. “It’s not often that we see the
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