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In this Q&A, Harbour Trust speaks to Hedgeweek on the various aspects of ESG in the investment space, shedding light on regulation, DE&I and opportunities for service providers.
The Board of Investments of the USD74 billion Los Angeles County Employees Retirement Association (LACERA) has allocated USD400 million out of a total investment pot of USD4.1 billion to private equity managers.
That’s according to a report by AlternativesWatch which credits ‘a fund official’ for the information.
LACERA was assisted by Meketa Investment Group, its general investment consultant on the allocations.
The board approved the engagement of BlackRock to manage an approximately USD3.7 billion long-term U.S. Treasury bond index portfolio in a separate account within the Risk Reduction and Mitigation category of LACERA’s portfolio.
The new private equity allocations include
PEF Services (PEF), a CSC company and a fund administrator for alternative investment managers, has released a new white paper – AML and KYC Compliance: A Guide for Private Capital Fund Managers.
Private capital funds have long been aware of anti-money laundering (AML) and know your customer (KYC) requirements. But while the underlying goal of these rules remains the same – to prevent and detect money laundering and counteract terrorist-funding activities – regulatory compliance has become a challenge for many firms.
The white paper covers:
• Six pillars of an AML and KYC program and their considerations for alternative investment
Affiliates of Stellus Capital Management (Stellus), a specialist in lower middle market direct lending, have provided senior debt financing and an equity co-investment in support of Altamont Capital Partners’ (Altamont) investment in Bishop Lifting Products (BLP).
Founded in 1984, BLP is one of the largest providers of wire rope, slings, rigging, and related products in the United States. BLP’s dedicated employees help leading companies across all industries solve their lifting and industrial needs.
Searchlight Capital Partners (Searchlight), a global private investment firm, has appointed David Fuller as an Operating Partner.
Fuller brings deep expertise in the technology and communications sectors, as well as a breadth of experience across various other industries from his background in management consulting and board work. He currently serves as board member of Mitel Networks, Consolidated Communications, Great-West Lifeco and Canada Life.
Omnipresent, an SaaS-based global employment partner, has raised USD120 million in a Series B funding round led by Kinnevik, a European growth investor, and Tencent, a global technology company.
Uncorrelated Ventures, a San Francisco-based investor, also participated, rounding out an investor list from Asia, Europe, and America.
The amount includes a pre-Series B round in the second half of 2021 and follows seed and Series A rounds in April 2020 and December 2020.
Nene Capital, an opportunity focused investor in UK SMEs, has acquired Seeco, a specialist precision engineering business based in Bedfordshire, UK, in a deal supported by FRP Corporate Finance.
As part of the deal, the existing management team will remain in place for the foreseeable future and support Nene Capital to identify and appoint suitable successors in due course.
Private equity firm, Limerston Capital, has acquired Largo Leisure, a Scottish-based holiday park operator and announced leisure industry veteran, Andrew Howe as its Executive Chairman.
Largo Leisure is the first platform investment in Limerston’s second fund, with the first closing occurring simultaneously with the transaction.
Largo Leisure offers self-catering lodge, caravan and glamping holidays across four parks located in Letham Feus in Fife, Braidhaugh Park in Perthshire, Sauchope Links near Crail and Loch Tay in Perthshire. The business was founded in 2003 by Rupert Barret and is targeted at a premium market, successfully capitalising on sustained consumer trends favouring
L Catterton, a global consumer-focused private equity firm, is to acquire LTP Home Services Group (LTP), a residential plumbing and HVAC services platform operating in the Mid-Atlantic and Southeast regions, from Thompson Street Capital Partners (TSCP).
TSCP will retain a board seat and minority stake in the Company.
Terms of the transaction have not been disclosed.
Insurance Advisory Partners, a specialist insurance M&A, strategic and capital-raising advisory firm, has appointed Jonathan Hull as partner, effective 18 April following a period of gardening leave.
Hull’s considerable insurance and insurtech experience will complement that of founders Tony Ursano and David Kimmel. Reporting to both, he will be heavily involved in origination and execution and his extensive buy and sell-side experience will support the ongoing rapid development of the business.
Hull joins from Piper Sandler, where he served most recently as vice president, advising clients on a range of high-value, strategically significant transactions such as M&A, leveraged
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