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Morgan Stanley Investment Management has raised USD1.6 billion for North Haven Credit Partners III (NHCP III), exceeding its original fundraising target by 29 per cent.
Investors in NHCP III, the successor fund to North Haven Credit Partners II, include public and private pension funds, sovereign wealth funds, insurance companies and individual investors. The Fund, managed by the Morgan Stanley Private Credit team, will focus primarily on junior capital investments in private North American businesses including 2nd lien debt, mezzanine debt, preferred equity and special situations.
“We are pleased with the strong support for NHCP III from new and returning investors
Valuation software provider, Forbury Valuation Solutions (Forbury), has added two new recruits to its London team ahead of a UK expansion drive.
Already well established in Australasia and Asia-Pacific, Forbury recently launched its UK operation following an extensive period of market research and beta testing.
Edward O’Hanrahan joins as sales manager, having joined from Redpath Partners, prior to which he was with Macdonald & Company. He will be responsible for driving growth among across the private equity and investment management sectors.
Ryan Spear has joined Forbury as an analyst from Deloitte and will be responsible managing customer relations
Corporate Finance advisor BCMS has advised leading UK independent medical communications agency Spirit Medical Communications Group Ltd (Spirit), on its sale to OPEN Health.
Founded in 2006 by Asif Zaman, and based at premises in Didsbury, Manchester and Alderley Park, Cheshire, Spirit offers full-service medical communications throughout the product lifecycle, with deep expertise across a range of therapy areas. Services include publication planning, medical strategy, medical education, scientific meetings, training and digital solutions.
Spirit employs 80+ highly qualified employees including post-docs, PhDs and Certified Medical Publication Professionals (CMPP). The business has established exceptional working relationships with its diverse and growing
Atalaya Capital Management (Atalaya), an alternative asset manager focused on private credit and special opportunities investments, has successfully exited its investment in The SAILS Group (SAILS), provider of residential care homes and other high touch treatment for behaviourally challenged clients, and Patterns Behavioral Services (Patterns), a provider of comprehensive services for children and adults diagnosed with autism and other developmental disabilities.
Atalaya invested in SAILS in 2016, providing the Company with the strategic capital needed to help make transformational acquisitions in complimentary businesses in Washington and Kansas, as well as purchase and expand Patterns. Following these important business combinations, Atalaya
Funds advised by Apax have reached agreement to acquire EveryAction from Insight Partners (Insight) and Social Solutions from Vista Equity Partners (Vista). The two companies will be combined with CyberGrants, which was recently acquired by the Apax Funds, to create a provider of next-generation Software-as-a-Service (SaaS) solutions to the social good ecosystem.
The combined company will have an enterprise value of USD2 billion, making it the largest M&A transaction in the history of the social good software sector. Vista will maintain a stake in the combined business.
The combination of EveryAction, Social Solutions and CyberGrants will allow the three
Akin Gump has appointed Terence Rozier-Byrd as a partner in its investment management practice in New York. Rozier-Byrd comes to Akin Gump from Baker Botts, where he served as partner in charge of its New York office.
Rozier-Byrd advises a wide array of institutional investors in connection with their investments in private equity funds, venture capital funds, hedge funds, credit funds, real estate funds, energy funds and hybrid funds, as well as in the negotiation of separately managed account arrangements, co-investments, direct venture capital and growth equity investments and secondary transactions. His practice also includes representing fund sponsors regarding the
Local government pension schemes are increasingly choosing more expensive alternative investments, including private equity and infrastructure, which is raising the overall fees they pay to asset managers as pension funds seek out higher returns, diversification benefits, and lower investment risk.
Portobello Capital has acquired a majority stake in Legálitas, the largest tech-enabled, Spanish language legal services provider.
Together with Portobello, the current management team, led by Luis del Pozo, will also invest in the company.
Legálitas, which generated more than EUR50 million euros in revenues in 2020, has delivered a strong track record of growth reaching an annual increase of 20 per cent in the customer base and over 25 per cent compounded annual revenue growth for the core legal assistance segment, consolidating its unique business model in the current market environment.
Founded in 1999 and headquartered in Madrid,
Maven Capital Partners (Maven), has invested a further GBP500,000 in GENinCode, a genetic testing company specialising in the risk assessment and prediction of cardiovascular disease.
This funding package comes as the company completes its IPO, raising an additional GBP17 million gross and listing on AIM with a market capitalisation of GBP42.2 million.
Maven’s most recent investment in GENinCode follows the GBP3.4 million funding round which Maven co-led in July 2020 and is an illustration of the continued support which Maven provides for its portfolio businesses. Having invested GBP1.5 million in that previous funding round, this latest package brings Maven’s total
Tolga Kirhan, a seasoned private equity professional with over 20 years of global investment experience, has joined emerging markets private equity firm Da Vinci Capital as a managing partner.
Before joining Da Vinci Capital, Kirhan was vice president of corporates and funds at German development finance institution KfW DEG- Deutsche Investitions- und Entwicklungsgesellschaft mbH, where he led all equity deal teams in Europe, the Middle East, the CIS, and the United States.
Kirhan was instrumental in creating and implementing DEG’s global tech strategy and led its first tech investment in Silicon Valley. He served on numerous advisory and corporate boards,
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