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Blackstone has held the final close of Blackstone Growth (BXG), its inaugural growth equity fund, which was oversubscribed, at its hard cap of USD4.5 billion in third-party capital commitments from a wide range of family offices, entrepreneurs, endowments, strategic institutional investors, pension funds, high-net-worth individuals, and other investors.
Blackstone says the fund is the largest first-time growth equity private fund raised in history.
Blackstone Growth, Blackstone’s global growth equity business, invests in fast-growing companies, helping them expand their potential through the power of the Blackstone platform. Leveraging Blackstone’s extensive operational resources and network, BXG focuses on providing capital to entrepreneurs
- 22/03/2021
Accelmed Partners (Accelmed), a private equity firm focused on acquiring and investing in US commercial stage, lower middle market HealthTech companies, has led a USD40 million investment in MedMinder Systems (MedMinder), the specialist fully-integrated, end-to-end pharmacy, medication adherence and connected care solution for elderly and polypharmacy patients.
Founded in 2007 by Eran Shavelsky, MedMinder is uniquely positioned to meet the needs of elderly and chronically ill patients who require more comprehensive pharmacy service and better engagement with clinical teams. The company’s touch screen-enabled, automatic pill dispenser is the first solution on the market capable of delivering medications from its
- 22/03/2021
BGF, the UK and Ireland’s most active investor, has completed a GBP5.7 million investment in Source BMX, the world’s leading omni-channel BMX retailer.
The funding will be used to grow the company’s e-commerce offering and fast-track international expansion plans.
Source BMX was founded by brothers Rich and Marc Moore in 2003 and has grown to offer the largest selection of BMX bikes, parts and accessories anywhere on the market, sold direct to consumers via its website.
In addition to the retail business, Rich and Marc are the creators of Source Park – the world’s largest underground skate park, based in
- 22/03/2021
- 22/03/2021
Lonsdale Capital Partners (Lonsdale), a UK based mid-market private equity group, has exited its investment in Bright Maze Oy (trading as “Amerplast”) a flexible plastic packaging group located in Finland and Poland.
The business has been sold to the British group Hanmere Polythene Limited. The sale has produced a return of 3x on Lonsdale’s investment.
Amerplast is headquartered in Tampere, Finland and has manufacturing facilities in Finland and Poland. Since purchasing Amerplast in 2014 from Sumoninen Corporation, Lonsdale has invested significantly in the business to allow Amerplast to have market leading positions in the Hygiene, Bakery and Food end markets.
- 22/03/2021
Enthuse, a donations, fundraising and events platform, has secured GBP3.5 million in a Series A funding round led by Praetura Ventures.
Co-investors included a consortium of existing investors to the business. This brings the total funding raised by Enthuse to GBP7.5 million.
Enthuse provides charity-branded donation, fundraising and event management tools to more than 4,000 charities, and has helped them raise more than GBP100 million to date. It supports one in fove of the UK’s largest charities, including Macmillan Cancer Support, NSPCC, WWF, Save the Children.
On average, the UK donates around GBP10.1 billion to charity each year,
- 22/03/2021
- 22/03/2021
ironSource, an app-focused business platform, is to merge with Thoma Bravo Advantage (TBA), a publicly-traded special purpose acquisition company (SPAC).
The transaction values ironSource at a pro forma equity value of USD11.1 billion, and is supported by a USD1.3 billion oversubscribed Class A ordinary share PIPE led by an affiliate of Thoma Bravo (Thoma Bravo), as well as investments from Tiger Global Management, LLC, Counterpoint Global (Morgan Stanley), Nuveen, LLC, Hedosophia, Wellington Management, The Baupost Group, and certain funds managed by Fidelity Investments Canada ULC and other institutional investors. Upon closing of the transaction, the combined company will operate under
- 22/03/2021
The Riverside Company, a global private equity firm focused on the smaller end of the middle market, has completed fundraising for its Riverside Europe Fund VI (REF VI).
The firm’s latest buyout vehicle closed on EUR465 million of capital commitments, nearly 40 per cent more than its predecessor, making it the largest fund the firm has raised in Europe to date.
REF VI follows the same investment strategy as previous funds and remains focused on acquiring “little leaders,” partnering with strong management teams to make those companies bigger and better, often growing them internationally. The fund targets European businesses, generally
- 22/03/2021
One million homes in the UK are now being powered by green energy, as a result of anaerobic digestion (AD) projects funded by dedicated, specialist Finance Arranger – Privilege Finance, the lending partner of Prestige Funds.
Based near Cambridge, UK, Privilege Finance manages the private debt and infrastructure lending portfolios of several Prestige Funds. Since 2012 it has invested over GBP 600m in both new builds and acquisition projects in renewable energy. Privilege already backs one of the largest portfolios of clean energy projects in the UK supporting, farm, food and agri related business in what is a very specialist
- 22/03/2021
European private debt manager Pemberton has provided financing to support Exponent’s acquisition of Proper and its merger with Eat Real, two healthier snacking companies in the United Kingdom.
The financing is complemented by an acquisition and capex committed facility.
Founded in 2014 by Priyesh Patel, Eat Real has grown into the UK’s number one ‘free-from’ snacking brand. Proper, founded by Cassandra Stavrou and Ryan Kohn in 2011, is a pioneer in UK healthy snacking. The two businesses will be integrated as one Group and will continue to operate under their respective brand names. The Group will be headquartered in
- 22/03/2021
The Astrea VI private equity bonds issued this month have been tokenised by iSTOX to reduce the minimum investment ticket by up to 10 times.
This marks the first time digital tokens with exposure to bonds in the Astrea series have been offered.
The manager of the Astrea VI transaction is a wholly-owned subsidiary of the Azalea Group, which is in turn an indirect wholly-owned subsidiary of Temasek Holdings. iSTOX’s digital tokens lower the threshold for accredited investors to gain exposure to the private equity bond asset class.
The digital issuance, or tokenisation, covered bonds from the two USD-denominated tranches
- 22/03/2021
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