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Northlane Capital Partners (NCP) has sold its portfolio company Discovery Data Holdings (Discovery) to Institutional Shareholder Services (ISS), a provider of corporate governance and responsible investment solutions, market intelligence, fund services, and events and editorial content for institutional investors and corporations.
Discovery Data is a provider of data and information services to the financial services industry. Discovery’s platform empowers asset and wealth management firms, insurance companies, financial technology companies, and service providers to understand their target markets and to identify, assess, and seize new opportunities.
Software and services investor Hg has made a significant investment in Pirum Systems (Pirum), a provider of post-trade automation and collateral management technology for the global securities finance industry.
Hg will share joint control with Pirum’s current backers Bowmark Capital, the technology and services investor, which invested in the company in 2019. The Pirum management team will also retain a significant stake in the business.
Dragoneer has led a USD75 million Series B funding round in Rho, a corporate spend and cash management company.
New investors including DFJ Growth, and existing investors including M13, Inspired Capital and Torch Capital also participated in the equity financing.
Rho has grown 10x in under 12 months, driven by constant innovation and product delivery, including the launch of its integrated accounts payable product in January 2021 and its corporate card in May 2021.
Private equity firm Copley Equity Partners (Copley) has completed a full buyout of Perkins Biomedical Services (Perkins). Terms of the transaction have not been disclosed.
Perkins will utilise Copley’s investment to assist in the company’s strategy to build a market-leading laboratory equipment service business. Perkins will serve as Copley’s platform investment in the laboratory equipment service industry and is actively pursuing other complimentary investments as part of the investment strategy. Copley Equity representatives Peter Trovato and Andrew Miller will participate on the Perkins Board of Directors.
Breakout Ventures has closed of its oversubscribed second fund with USD112.5 million in commitments. Fund II received strong support from existing limited partners including Dolby Family Ventures, Thiel Foundation, GRIDS Capital, S Cubed Capital and deep tech investors Chris & Crystal Sacca, Tony Fadell, Zack Bogue and Matt Ocko.
Ascend Partners (Ascend), a healthcare focused private equity partnership, has closed its inaugural fund, Ascend Capital Partners Fund I (Ascend Fund I) with total committed capital of USD570 million.
The Fund was oversubscribed and hit its hard cap.
Ascend Fund I’s Limited Partners include public and private pension funds, foundations, financial institutions, and family offices with a shared mission of improving the access, affordability, and quality of healthcare for underserved and vulnerable communities
Blackstone has appointed David Ben-Ur and Atish Nigam to senior leadership roles in the Blackstone Alternative Asset Management (BAAM) business.
Ben-Ur will be the Chief Investment Officer of BAAM’s hedge fund solutions business (BPS) and Atish will serve as the Chief Investment Officer of BAAM’s special situations investing business (BSOF).
In conjunction with Ben-Ur’s hire, BAAM ahas also greed on preliminary terms to manage the assets of CAM Capital, Bruce Kovner’s family office.
Main Post Partners, a private equity investment firm, has invested in Guided Practice Solutions (GPS Dental or GPS), a dental service organisation.
Main Post is partnering with the founders and several partner-doctors in the transaction. Andy Graham, an executive with decades of DSO experience, will be joining the Board of Directors as Chairman.
Garnett Station Partners, LLC (Garnett Station), a New York-based investment firm, has made a growth investment in Las Vegas carwash brand WOW Carwash (WOW), through its GSP 3.0 Fund, LP.
GSP’s investment will be used to accelerate the growth of WOW Carwash, which was founded in 2015 by Todd Bender and Scott Wainwright and builds and operates eco-friendly, tech-enabled express car wash operations.
Cassini Systems, a provider of pre- and post-trade margin and collateral analytics for derivatives market participants, has completed a USD20.5 million growth financing round led by Ten Coves Capital.
Existing investor Mosaik Partners also participated in the round with the proceeds set to be used by Cassini to accelerate its product development.
Cassini’s fully integrated platform enables asset managers to assess and optimise the liquidity and carry cost of their diverse trading strategies across the trade lifecycle from pre-trade, to intra-day to post-trade.
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