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NewSpring, a family of private equity strategies, has held the final close of its fourth mezzanine fund, NewSpring Mezzanine Capital IV (NSM IV). In total, the Fund raised USD364.3 million, making it the largest mezzanine fund the Firm has raised to date.
NewSpring Mezzanine provides a wide range of flexible mezzanine debt and equity solutions, combined with deep operational expertise for growing lower-middle market companies in resilient, expanding industries.
NSM IV provides an option to invest in a Small Business Investment Company (SBIC) Fund, NewSpring’s fifth SBIC license, and received strong support from existing and new investors, including a
Golub Capital has acted as Left Lead Arranger, Administrative Agent and Joint Bookrunner on an USD810 million broadly syndicated loan facility to support the acquisition of Rough Country by TSG Consumer Partners (TSG), and on a USD425 million broadly syndicated loan facility to support the acquisition of Confluence Technologies, Inc (Confluence) by Clearlake Capital (Clearlake).
The USD810 million facility for TSG’s acquisition of Rough Country from Gridiron Capital consisted of a USD585 million first lien term loan, USD175 million second lien term loan and USD50 million revolver. Jefferies served as Joint Lead Arranger on the transaction.
Golub Capital has served
OfColor, an enterprise SAAS provider focused on the financial health of employees of colour, has secured a strategic seed investment from funds advised by PSG, a growth equity firm partnering with middle-market software and technology-enabled services companies.
OfColor is on a mission to help employees of color earn and keep more of their income. The Company aims to integrate the best from fintech and behavioral finance into a single platform, leveraging the combination to improve the financial health of minority employees. Financial terms were not disclosed.
OfColor was founded by CEO Yemi Rose after a nearly two-decade corporate career
Macfarlanes has advised the management team of Pulsant, a UK provider of data centre and cloud infrastructure, on its sale by Oak Hill Capital and Scottish Equity Partners to private equity firm, Antin Infrastructure Partners.
Pulsant provides data centre and cloud infrastructure to over 1,000 businesses in the public and private sectors, serving its clients from its portfolio of 10 data centres across seven cities in the UK.
Following completion of the acquisition, Pulsant’s management team will work alongside Antin Infrastructure to implement a growth strategy which will capitalise on the increasing demand from businesses for reliable and
HIG Capital (HIG) has hired John Woyton to lead its dedicated technology buyouts platform, which combines HIG’s existing technology sector capabilities across multiple investing funds.
Woyton has spent over 18 years as a private equity investor in the technology sector. Most recently, he was a Managing Director and Partner at Advent International, where he helped form and lead the firm’s global technology team.
HIG has previously completed, across its various private equity funds, more than 60 investments in the technology sector, with a particular focus on software, fintech, and software-enabled services. The dedicated technology buyouts team will build on HIG’s
Crehana, an education technology platform for companies and individuals focused on closing the reskilling and upskilling gap in Latin America, has raised USD70m in a Series B round led by General Atlantic.
This round represents Latin America’s largest Series B funding for an education technology company and comes just months after Crehana raised a USD13M Series A extension round. Crehana will leverage the funding to expand its enterprise solution, launch operations in Brazil, and invest in new products and technologies.
Founded by Diego Olcese, CEO, and Rodolfo Dañino, COO, in 2015, Crehana is disrupting the Latin American workforce development
Gen Cap America (Gen Cap), a private equity firm focused on lower middle market buyouts, has sold LW Allen to SJE, a portfolio company of Audax Group. Terms of the transaction have not been disclosed.
LW Allen designs, manufactures, distributes and installs water and wastewater control systems and treatment pump systems to municipal and industrial customers. The company’s electrical control solutions, marketed under the Altronex brand name, provide the hardware, software and services used by operators to control water and wastewater systems. LW Allen was founded in 1961 and is headquartered in Madison, Wisconsin.
Matt Lane, Managing Director at
Best Buy has committed up to USD10 million to venture capital firm Brown Venture Group’s inaugural fund, which will fund Black, Latino and Indigenous technology entrepreneurs.
Brown Venture Group, a majority Black-led organisation, was founded in 2018 with the goal of raising USD50 million to invest in entrepreneurs of colour who in the past have not had access to venture capital and have experienced economic barriers to contribution.
The commitment by Best Buy builds on its recent announcement that it will spend at least USD1.2 billion with BIPOC and diverse businesses by 2025 with a focus on leaders in the
Apex Group has acquired Greenough Consulting Group (GCG), a provider of finance, accounting, and human resources services to technology companies, venture capital and private equity funds.
This strategic deal serves to further strengthen Apex’s position in the US market and enhances its ability to deliver high quality service to clients of all sizes, via locally based experts. The addition of the GCG business broadens the Group’s existing presence in North America through the addition an office in Burlingame, CA and over 50 employees, increasing the Group’s Americas headcount to nearly 600 people.
For over two decades GCG has served
Almost four out of five (75 per cent) of LPs expect sustainability to drive investment decisions over next five years, while 66 per cent of LPs see value creation as a leading driver of ESG, according to new research from Manulife on how private equity relates to sustainable investing.
The paper, called ‘Sustainable private equity and the new drivers of value creation’, also revealed that private equity firms are showing significant commitment to the UN’s Principles for Responsible Investment (PRI) – including six of the world’s top ten PE firms having signed up to its six aspirational principles.
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