Managers
TIG Advisors (TIG) has acquired a minority interest in Romspen Investment Corporation (Romspen), an alternative credit manager focussed on North American real estate.
The firm is the manager of funds with assets under management of CAD2.5 billion, which provide first mortgage bridge lending to commercial real estate projects. Terms of the transaction were not disclosed.
As a strategic partner, TIG will work collaboratively with Romspen to help the firm achieve its business objectives – offering infrastructure, sales and marketing, and business development support within the US and internationally. This support will enable the Romspen team to continue to focus
Private equity firm Key Capital Partners (KCP) has sold its interest in MI Glass (MIG) to the management team in a multi-million pound deal backed by Clydesdale Bank.
The terms of the deal have not been disclosed.
Based in Smethwick in the West Midlands, MIG has a 75 year heritage of providing glass processing solutions to a number of industries including retail interiors, catering equipment and office designers throughout the UK and central Europe. With a 76-strong workforce, the company has 55,000 sq ft of dedicated manufacturing space at its Downing Street, Birmingham, premises and has recently opened a
HIG Bayside Capital (HIG Bayside), the special situations affiliate of HIG Capital, has sold its portfolio company, DiscoverReady to Consilio, a specialist in eDiscovery, document review, risk management, and legal consulting services.
Based in Charlotte, NC, DiscoverReady is a leading provider of end-to-end eDiscovery services including best-in-class offerings in managed review, processing, hosting and information governance. The Company supports corporations and multinational law firms on complex investigation, litigation and compliance matters.
HIG Bayside recapitalised the Company in 2014, and over the last four years has supported the Company’s significant investments in new service offerings, technology, and marketing. These investments
Frontier Capital (Frontier), a Charlotte-based growth equity firm focused exclusively on software and tech-enabled business services companies, has sold MultiLing, a provider of global intellectual property (IP) translation and support services, to Questel, a global online IP service provider.
Through its proprietary Savanta cloud platform that leverages digital workflow, artificial intelligence and a global network of 1000-plus linguists, MultiLing provides skilful, accurate, cost-effective patent translation services. The company serves the world’s most demanding and sophisticated patent filers in over 200 unique language pairs, and has translated over 1.6 billion words for its diverse client base of blue-chip corporations and law
Handshake, a career network for US college students, has closed a USD40 million Series C funding round led by the EQT Ventures fund (EQT Ventures), a European multi-stage VC fund.
This funding round also includes participation from leading social impact investors including The Chan Zuckerberg Initiative (CZI), Omidyar Network (Omidyar), and Reach Capital (Reach), among others. In conjunction with the funding, Alastair Mitchell of EQT Ventures is joining Handshake’s Board of Directors. Representatives from CZI, Omidyar, Reach and others will be joining a newly formed Impact Advisory Board to advise the company on better measuring and growing its social impact.
Crossplane Capital, a new Dallas-based private equity firm, is to target control investments in niche manufacturing, value-added distribution and industrial business services companies, with up to USD200 million of revenue.
With eight decades of combined experience transforming industrial companies as senior executives, operational improvement consultants, strategy consultants, restructuring advisors and private equity investors, Crossplane’s team brings a sophisticated operating model to family owned companies and companies involved in complex situations.
Founded by partners Brian Hegi and Ben Eakes, and joined by Ingrid West, operating partner, and Mike Sullivan, managing director, Crossplane’s senior leadership team has 32 years of collective
Backstop Solutions, a cloud-based productivity suite provider to the institutional investment industry, has completed a USD20 million round of financing.
Existing and new investors participating in the round include Roger Kafker, a 30-year veteran investor in the asset management space, Tao Huang, former COO of Morningstar, David Bradley, President of Huizenga Capital Management, and Vistara Capital Partners. Financial Technology Partners (FT Partners) served as exclusive strategic and financial advisor to Backstop Solutions on this transaction.
This round of financing builds on an outstanding year for Backstop, which saw a rapidly growing roster of clients, key executive appointments, and
True Ventures has closed its sixth early stage fund True Ventures VI with USD350 million in capital commitments and its third Select Fund True Ventures Select III at USD285 million.
The firm will use Fund VI to continue investing in dynamic, category-leading founders building companies across a range of industries. Fund VI investments will include enterprise software, hardware devices, consumer products, cryptocurrencies and innovation in digital biology.
“Our goal is to support the whole founder – personally, professionally, financially and interpersonally – so they have the emotional safety needed in order to be fearlessly creative,” says Jon Callaghan, co-founder
The State Street Global Exchange Private Equity Index (GXPEI) posted its second highest quarterly return of the past two years at 3.99 per cent in the second quarter of 2018.
The venture capital category held its lead for the second quarter in a row with a 4.64 per cent gain, followed closely by buyout funds with a 4.18 per cent return; but private debt lagged behind with a 1.90 per cent return for the quarter.
The PEI is based on directly-sourced limited partnership data and represents more than USD2.8 trillion in private equity investments, with more than 2,900 unique
Noerr has advised funds managed by Bregal Unternehmerkapital on its acquisition of trendtours Touristik as part of a succession arrangement. The shares were sold by the company’s founder and by the Managing Director and other shareholders.
trendtours is one of the leading tour operators in Germany and offers a broad portfolio of individual packaged tours. Together with the employees of trendtours, Bregal intends to continue ongoing initiatives while also focussing on new growth paths. Bregal Unternehmerkapital is part of the private equity business of a family-owned business that has been built up over generations.
The transaction has already been
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