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Ironwood Capital has made a subordinated debt and equity investment in Micro Precision LLC (MPI) to support the acquisition of PRL Inc (PRL). Headquartered in South Windham, Connecticut, MPI is a tier-one, Level 1/SUBSAFE supplier of critical components and assemblies for the United States Navy’s Virginia and Columbia class submarines, as well as a prime contractor to other governmental agencies and first tier military contractors. MPI is a portfolio company of Compass Partners Capital, a Stamford, Connecticut- based investment firm.
PRL is a leading supplier of high-tech alloy castings, close tolerance machined components, and nondestructive testing and upgrading services. PRL will
- 29/10/2020
Sidetrade, an Artificial Intelligence platform dedicated to accelerating company revenue and cashflow, has partnered with Hyman Capital to help the firm’s clients and private equity contacts to adjust quickly to the Covid-19 pandemic in terms of cashflow generation.Covid-19 has generated exceptional cash tensions, with agreements made every day to defer certain payments by one or two months, or sometimes longer. Faced with the challenge of late payment, private equity funds have found it hard to evaluate the impact of Covid-19 on their portfolio companies, with zero cashflow visibility due to the limited information available to them.
The economic damage is
- 29/10/2020
Global law firm Ropes & Gray has named 16 attorneys as partners of the firm, effective 1 November.The new partners illustrate the characteristics that have established Ropes & Gray as one of the world’s premier global law firms. They are proven industry leaders with deep knowledge of our clients’ businesses, and deliver exceptional results on our clients’ most important and complex matters. They are also devoted stewards of the firm and committed to the communities we serve.
“During such an unprecedented year, the making of new partners is a wonderful moment to pause, celebrate and look to the future
- 29/10/2020
- 29/10/2020
Finance industry network 100 Women in Finance will be hosting the largest ever international meeting of female investment managers and asset allocators during Global FundWomen Week in November, with the intention of facilitating capital introductions for women.
“The pandemic, coupled with technology, is acting as a great leveller in improving access to capital introduction opportunities for women managers,” said Ulrika Robertsson, co-founder and COO of Impactus Partners and Chair of 2020 Global FundWomen Week.
The virtual event will take place from 9 to 13 November, replacing previous in-person regional conferences, and will be hosted on capital introduction tech platform iConnections,
- 28/10/2020
You wouldn’t buy a house without looking around it, or a car without test driving it. Consumer tech such as apps are often free to download. With software being such a vital part of any financial organisation’s infrastructure, Jamie Nascimento, co-founder at alternative asset management platform LemonTree Software, asks why it should be any different.
Buying business software is all about solving problems. When a vendor offers you a trial of their software, you get to see if it does indeed solve a problem and importantly, how it is solved. You can use personalised potential scenarios, positive, negative or unique,
- 28/10/2020
Blackstar Capital has appointed Simon Smart to the role of Head of Credit and Special Situations and James Paul to Portfolio Manager. The hires are part of the continued growth phase of the specialist structured finance and working capital solutions provider.Smart will be responsible for expanding the company’s capabilities in providing innovative structured credit solutions to corporate clients as well as expanding Blackstar’s capabilities into special situations advisory and financing. Smart who previously worked for both Goldman Sachs, and most recently BTG Pactual, joins Blackstar having had a diverse career in the industry, from developing pioneering regulatory capital structures in
- 28/10/2020
The Partners are pleased to announce the launch of Victory Hill Capital Group (Victory Hill), a specialist investment firm targeting direct investments in global energy infrastructure that support the UN Sustainable Development Goals, with the aim of facilitating a smooth transition to green energy.
- 28/10/2020
- 28/10/2020
Non-bank or direct lending saw a total of 140 European deals in the first half of 2020, compared to 197 for the same period last year, a decrease of 29 per cent. The latest Alternative Lender Deal Tracker from Deloitte showed deal count dramatically slowing as the Covid-19 pandemic impacted the private debt markets, especially in Q2 when the volume of deals fell by 58 per cent, compared to the same period in 2019.
The majority of the deals were M&A related with 67 per cent of the European deals being used to fund a buy-out. Out of the 447
- 28/10/2020
UK private equity manager Maven Capital Partners (Maven) has invested GBP2 million in MirrorWeb, a tech firm that enables organisations to capture, archive and monitor web-based content for digital oversight and regulatory compliance. The transaction has been funded by Maven’s managed VCTs and represents Maven’s tenth VCT investment in 2020.
Manchester-based MirrorWeb has developed a cloud-based SaaS platform that helps organisations create accurate and immutable records of online communications, ensuring they meet compliance obligations and information of cultural or historical value is never lost.”
Financial services firms are increasingly finding it difficult to meet modern record-keeping requirements, citing digital compliance as
- 28/10/2020
Platform and fund administration services provider Prescient Fund Services’ Alternative Investment Fund Manager assets under management surpassed EUR 1 billion in the third quarter of 2020.Prescient operates an Irish-regulated third-party Super ManCo with both UCITS Management Company and Alternative Investment Fund Manager (AIFM) permissions, as well as being a Fund Administrator. The funds, that are regulated under the European Union’s Alternative Investment Fund Managers Directive (AIFMD), sit across two of Prescient’s fund platforms: Prescient Global Qualified Investor Fund ICAV and Prescient Common Contractual Fund (a tax transparent umbrella structure designed for pension funds and other tax-exempt institutional investors). In common
- 28/10/2020
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