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CalSTRS, the California State Teachers’ Retirement System, made more than 50 new private markets investments in the second half of 2020, according to a report by AlternativesWatch.
The move bolstered the pension schemes overall private markets allocation by some USD7.4 billion last year.
CalSTRS’ private equity investments have produced an IRR of 14 per cent since inception back in 1988 and the pension scheme now has over USD45 billion invested in over 450 funds.
Ethos Capital (Ethos) has appointed Scott Stevens as a Principal.
Stevens joins Ethos from Pamlico Capital (Pamlico). Prior to Pamlico, he was an investment professional at ABRY Partners (ABRY), where he collaborated on multiple transactions with Erik Brooks, Co-CEO of Ethos, and Chris Ritchie who recently joined as a Partner.
While at Pamlico, Stevens focused on investments in the information services, software and education technology sectors. He also served on the board of directors of several companies, including Aite-Novarica Group, CEATI International, and Profisee. At ABRY, he reviewed and executed investment opportunities across the IT services, software, and financial
VSS Capital Partners (VSS), a middle-market private investment firm investing in education, healthcare, and business services, announced today that it has appointed Dr Sabrina Kay as a Strategic Partner to the firm’s Senior Advisors team.
In her role, Dr Kay will serve as a board member and advisor to portfolio companies and share her expertise in growth strategies and talent and technology management.
Dr Kay brings extensive business management experience to her role at VSS, reflected by her distinguished career as a founder and CEO of five businesses spanning multiple industries such as education, technology, design, and banking. As
Motive Partners (Motive), a specialist private equity firm focused on growth equity and buyout investments in software and information services companies that serve the financial services industry, has agreed, along with other shareholders, for JP Morgan to acquire Motive Capital Fund 1 portfolio company, Global Shares, subject to regulatory approvals and customary closing conditions.
Motive Partners invested in Global Shares in July 2018, acquiring a c40 per cnt shareholding in the business for cUSD25 million.
MidOcean Partners, a middle market private equity firm focused on the business services and consumer sectors, has promoted Sara Parker Badham to Managing Director and Partner.
In addition, MidOcean has also promoted Steven Loeffler to Principal.
Parker joined MidOcean as an Associate in 2012. Over the past decade, she has been instrumental in driving value within the business services and consumer sectors, and has played an influential role in MidOcean’s data & information services platform investments, including Zonda, Music Reports, Questex and Penton.
Loeffler joined MidOcean as an Associate in 2013 and has since been focused on the firm’s
ICV Partners, an investment firm focused on lower middle market companies in business services, consumer goods & services, food & beverage, and healthcare, has acquired Urgent Care Group (UCG) and its combination with portfolio company Total Access Urgent Care (TAUC).
Founded in 2017 by Chief Executive Officer David Maloney, Urgent Care Group serves communities through 24 locations and three brands in Wilmington, NC, the Greater Atlanta area, and throughout South Carolina.
The combined organisation will operate more than 50 clinics in four states as Total Access Urgent Care in Missouri; Medac Urgent Care in North Carolina, MEDcare Urgent Care in
Cairngorm Capital Partners portfolio company, Verso Wealth Management (Verso), has acquired CDC Wealth Management Limited (CDC).
This acquisition continues Verso’s strategy to build a market leading, national wealth management group.
Founded in 2006, CDC is a wealth management company serving private individuals, families, trusts and companies across the UK. With an office in Sunderland, CDC combines financial advice and planning, with discretionary investment management, to provide a comprehensive wealth management service. With a team of 10 advisors, investment professionals and support staff, CDC provides advice on assets exceeding GBP150 million, as at Q4 2021.
The addition of CDC to the
The InsuResilience Investment Fund (IIF) managed by impact investment manager BlueOrchard Finance (BlueOrchard) has acquired a stake in Vanguard Assurance Limited (Vanguard), a general and micro-insurance group operating in Ghana.
IIF is set up on behalf of the German government by KfW.
IIF has acquired 40 per cent of the company and will appoint directors to the Vanguard board to assist the company in driving its market expansion, rolling out its micro-insurance distribution capabilities, and further enhancing governance. Through the IIF Technical Assistance Facility, it will support Vanguard in developing new products and raising market awareness for climate risk mitigation.
Cross-Fire & Security Co (Cross-Fire), a full-service life safety company specialising in the design, engineering, installation, maintenance, monitoring and servicing of state-of-the-art fire and life safety systems and portfolio company of AE Industrial Partners, has acquired Adcock’s Systems (Adcock), a full-service fire alarm, electrical and sprinkler contractor operating in the Washington, DC area.
Terms of the transaction have not been disclosed.
Adcock marks the third add-on acquisition completed by Cross-Fire, a fire and life safety services platform established by AE Industrial Partners (“AEI”) in May 2021. The Cross-Fire team is actively seeking additional acquisitions to expand its capabilities and
Northleaf Capital Partners (Northleaf) has strengthened its private equity leadership team in the United Kingdom (UK) and Europe, the Middle East and Africa (EMEA) with the appointment of Sanja Cvetinovic as a Managing Director, based in London.
Cvetinovic will lead Northleaf’s private equity investment origination and execution strategy, including secondary, primary and direct investments, in the UK/EMEA and will assume leadership of the private equity investment team in London. She will work closely with Shane Feeney, Global Head of Secondaries at Northleaf, to build on the firm’s highly successful 20-year track record in global secondaries investing.
In addition, Matthieu Ducharme,
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