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UniversalCIS, a technology-enabled provider of credit data and related origination solutions in the mortgage industry, and Credit Plus, a leading provider of mortgage verifications and business credit reports, have merged their companies.
As a result of the merger, the new company will become the largest in the industry and serve over 6,500 clients in the North American mortgage market including banks, non-bank mortgage lenders, credit unions and mortgage brokers.
Credit Plus brings over three decades of experience assisting more than 2,500 lenders with its information and verification services throughout the mortgage origination process. UniversalCIS has over 4,000 clients and
Following the acquisition of Vannin Capital by funds managed by Fortress Investment Group in 2019, the operations of Vannin Capital are now being restructured into the Fortress Legal Assets business.
As part of the restructuring, a number of Vannin Capital employees will transfer to Fortress. This change will have no impact on Vannin Capital’s existing investments, and Vannin Capital will remain the counterparty to its various litigation funding agreements. The restructuring is taking effect immediately.
“We are confident that this combination will further strengthen our leadership position in the litigation finance market, broadening our sourcing capabilities and bringing counterparties the
Private equity-backed M&A deal volumes were up 79 per cent compared to H1 2020 – their highest H1 level since 2014, according to DC Advisory’s latest European Private Equity Mid-Market Monitor.
The favourable M&A environment across the continent can largely be attributed to the economic recovery, which has been accelerated by the Covid-19 vaccination rollout.
The technology and business & tech-enabled services sectors continue to lead the way in transaction volumes – accounting for 49 per cent of the region’s total Q2 2021 deal count.
Valuations for tech-enabled businesses remain at a premium, particularly for ERP software and IT services
CDC Group (CDC), the UK’s development finance institution and impact investor, has announced a USD100 million commitment to African Development Partners III, the Fund advised by Development Partners International LLP (DPI) – a leading pan-African private equity firm.
CDC’s latest commitment supports ADP III fundraise as it closes at USD900 million, becoming one of the largest funds dedicated to investing in Africa.
ADP III will target medium-sized and large companies in Africa, thereby facilitating greater job creation, economic diversification, and market expansion, whilst also funding essential services through corporate taxes. As part of its strategy, the fund will also
Beringea, a transatlantic venture capital firm, has led a GBP2 million investment into Plank Hardware, a direct-to-consumer home décor brand whose stylish hardware products have tapped into the boom in DIY and renovation projects among millennial and Gen Z consumers.
Plank Hardware was founded in London in 2019 by Tom Revill and Annie Aveyard. The husband-and-wife duo identified an opportunity to provide high-quality, design-led products that could enable aspiring DIY enthusiasts to create beautiful home renovations on a modest budget. Its products today span handles, hooks, knobs, and rails that provide the perfect finishing touch to DIY projects and inspire
Funds advised by Apax are to acquire Eating Recovery Center (ERC Pathlight), a provider of eating disorder and mood and anxiety treatment in the US, in partnership with Oak HC/FT and management, from CCMP Capital.
ERC Pathlight is a specialist in eating disorder treatment. The company’s differentiated clinical model meets patients where they are in their treatment journey by offering the full continuum of higher levels of care. Through the recent expansion of its Pathlight division, ERC Pathlight addresses a more comprehensive set of behavioural health conditions including primary mood and anxiety disorder treatment. ERC Pathlight lowers financial barriers to
Varagon Capital Partners, LP (Varagon) is serving as Administrative Agent, Joint Lead Arranger and Joint Bookrunner on a senior secured credit facility to support the acquisition of Fireboy-Xintex by United Safety & Survivability Corporation (USSC).
USSC is a portfolio company of private equity firm Dubin Clark.
Arsenal Capital Partners (Arsenal), a private equity firm that specialises in investments in healthcare and industrial companies, has completed a majority recapitalisation of BioIVT, Inc (BioIVT) with Linden Capital Partners (Linden), a Chicago-based healthcare private equity firm. The terms of the transaction were not disclosed.
Headquartered in Westbury, New York, BioIVT is the market leader in providing of mission-critical biological specimens and value-added services for the academic research, pharmaceutical, and diagnostics discovery and development markets.
Gene Gorbach, an Investment Partner of Arsenal, says: “We are proud to have partnered with the talented team at BioIVT in building an enterprise
Legal bills are never much fun when they land in the inbox. This is especially true for private equity firms, for whom legal costs can be among their single biggest areas of expenditure.
But a flurry of cloud-based technologies is transforming the way the industry handles its legal work – and the trend may only just be getting started, says Nicholas d’Adhemar, founder of legaltech firm Apperio.
A former in-house private equity counsel, d’Adhemar understands all too well the ease with which legal costs can mount during a deal, especially when unforeseen complications arise.
“What rankles PE managers is the
Private equity managers have had a frenetic 12 months. From the depths of the pandemic, the industry has staged a remarkable rebound, eagerly hunting down deals as firms rush to spend dry powder.
With more than USD580 billion in deals announced in the first half, 2021 is on track to be a record-breaking year – the first ever in which private equity firms deploy in excess of USD1 trillion in capital, according to figures from EY.
So how have evolving technology trends been affecting the industry?
Jacob Zornes of UMB Fund Services has a better perspective than most. With decades of experience
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