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UBS Asset Management (UBS-AM) Real Estate & Private Markets (REPM) has completed its fourth private equity growth strategy (PEG IV), with investor commitments totalling EUR384 million.
This has seen PEG IV surpass its predecessor strategy, PEG III, which closed at EUR306 million, reflecting strong investor interest despite the fundraising-challenges posed by Covid-19. PEG IV’s success has been accompanied by the closing of additional single investor mandates following the same investment strategy.
PEG IV is already invested in a range of primary fund commitments as well as several transactions, including eight secondaries and three co-investments, helping to accelerate portfolio build-up
Star Mountain Capital (Star Mountain), an investment manager, with approximately USD2.5 billion in assets under management, focused exclusively on investing in lower middle-market firms, has appointed ennis Duerst has joined as a Senior Advisor.
Star Mountain Senior Advisors/Operating Partners are aligned with Star Mountain’s full-time team and investors through sharing in investment profits and through their personal capital invested.
Duerst was most recently President at 3M Investment Management Corporation, the USD25 billion investment fiduciary for 3M’s retirement plans on a global basis. He launched initial investments in hedge funds and private credit and focused on absolute return and private market
Paleo Ridge, recognised as a leader in premium raw dog food, has secured a GBP2 million investment from private equity firm, Ashridge Capital, to support its rapid expansion.
The new investment will fund the opening of a new despatch and manufacturing facility, supporting the expansion of Paleo Ridge’s capabilities and the creation of over 20 new jobs spanning supply chain, marketing, customer service, technical and operations at its home base in Waterlooville, Hampshire.
Paleo Ridge has grown by over 100 per cent over the past two years, reflecting its brand strength and reputation and the provenance of its ingredients –
Private equity firm N4 Partners (N4) is to sell wind turbine gearbox manufacturer Moventas to Flender, a global supplier for mechanical and electrical drive systems headquartered in Germany.
The deal will include Moventas’ 22GW of installed base and an additional 3GW of wind gearbox assembly capacities.
Björn Lundén, a Swedish accounting and financial administration software provider, is acquiring QLogic AB (QLogic).
The financial terms of the acquisition, which was backed by European software-investor Main Capital Partners (Main), have not been disclosed.
QLogic is active in the time, project and expense management space and is known for its cloud-based solution QBIS and IT support.
The acquisition epresents a strategic second add-on acquisition for the Björn Lundén group since Main became a majority investor in July 2021.
Harrison Street, one of the leading investment management firms exclusively focused on alternative real assets, has held the final close of its third European alternative real estate fund, Harrison Street European Property Partners III, SLP RAIF (Fund III).
The fund raised over EUR800 million of equity, including co-investment vehicles, from over 25 institutional investors around the globe.
Fund III is approximately 75 per cent committed to date and includes a life sciences portfolio of over two million square feet, making Harrison Street one of the largest private real estate owners of life sciences assets in the UK. Additional Fund
The IMA Group (IMA), a leading technology-enabled provider of medical and psychological screening and evaluation services and clinical research site network and a portfolio company of Centre Parters, has made several important changes to its executive leadership team.
David C Pulver, MD, IMA’s Founder, has transitioned from his role as CEO to Executive Chairman; Mark I. Weinberger, PhD, MPH, who was previously IMA’s President, has become President & CEO; Erica Stirling, Esq has joined IMA as General Counsel; Michael Hirsch has joined IMA as Chief Information Officer; and Laura Norris has joined IMA as Vice President of Operations, Payer Services.
Carey Olsen and Oakbridge Funds have supported Lorton Entertainment (Lorton), a UK-based film financing, production, sales and distribution group, on the launch of the Lorton Media Fund – the company’s first ever fund structure, which will provide production and distribution financing towards future projects.
Founded in 2014 by Julian Bird and a consortium of private financiers, Lorton has successfully raised and invested third-party capital into the production and release of 17 independent films in the past five years, including documentaries Supersonic; As It Was; Maradona; and Bros: After The Screaming Stops.
The establishment of the Lorton Media Fund under the
APG and Ivanhoé Cambridge have invested in Taronga Ventures’ built environment technology Fund – RealTech Ventures I (RTVI), joining other leading global investors.
APG, the largest pension provider in the Netherlands with over EUR634 billion of assets under management, on behalf of its pension fund clients, has made its first investment into the built environment technology (Proptech) in the Asia Pacific.
With this strategic investment in RTVI, Ivanhoé Cambridge is pursuing the diversification of its portfolio in the Asia Pacific.
In addition to investment in the Fund, both groups will become partners in Taronga Ventures’ ESG Impact innovation programme, which
Align Capital Partners (ACP) has closed its third strategic add-on for SEAM Group with the acquisition of Electrical Engineering & Service (EESCO), a specialist in electrical power systems, commissioning, testing, evaluation, repairs and maintenance.
EESCO is accredited by the International Electrical Testing Association (NETA), a trade association dedicated to improving electrical testing standards in the United States and sharing those standards internationally.
This strategic add-on broadens SEAM Group’s specialised services for electrical distribution equipment, including switchgear, circuit breakers, protective relays, transformers, ground fault systems and surge protectors.
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