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Tesseract Holdings Limited (THL), a subsidiary of the Aquila European Renewables Income Fund (AERIF), has successfully completed the acquisition of a 50 per cent interest in the unlevered Portuguese solar project Ourique.
Ourique is located in Alentejo, Portugal, and has an installed capacity of c60 MWp. The solar farm started its operations in December 2019 and its power price hedges cover 100 per cent of the produced energy until March 2026. It is expected to save 17,035 tonnes of CO2 emissions per annum, and an estimated 511,046 tonnes over the lifetime of the project (100 per cent interest basis).
With
Balderton Capital has appointed Adrian Rainey as its new Operating Partner. Rainey will work closely with Balderton’s Limited Partners and oversee the firm’s internal operations.
He will also provide support to Balderton’s portfolio founders through the initial investment process, subsequent fundraisings and key milestones on their journey to growth.
Rainey joins Balderton with more than 17 years of experience in venture. Prior to joining the firm, Adrian was a Partner in Goodwin’s Technology group advising emerging companies and investors on equity and venture debt financings and M&A. Before he joined Goodwin, Rainey was a Partner at Taylor Wessing where he
Fysios, the largest private physiotherapy company in Finland, will become part of Mehiläinen through a share transaction signed on 1 July 2021.
The strong development of Fysios’s operations will continue in the future. The aim of the acquisition is to develop operating models that renew the industry and emphasise the role of digital services. As a pioneer of physiotherapy services, Fysios offers a wide range of physiotherapy-related services at more than 100 clinics across more than 50 locations. The company employs about 800 skilled therapists. Fysios’s operating methods emphasise strong development, quality and training. The activities will now continue as
Private equity firm American Securities’ opportunistic credit business, Ascribe Capital, has merged with Birch Grove Capital (BGC), a credit asset management business.
The combined entity, which will be named AS Birch Grove, manages approximately USD5 billion in assets across an opportunistic hedge fund, private credit vehicles, and par credit and collateralised loan obligation vehicles. AS Birch Grove, along with its funds, will be well positioned to become a more diversified credit asset management business.
In the near term, AS Birch Grove has over USD1 billion in capital to invest in opportunistic credit situations across leveraged loans, high yield and convertible
Sudrania Fund Services (Sudrania), one of the world’s fastest-growing fund administrators, has opened its newest office in Toronto, Canada to introduce its end-to-end cloud-based fund administration platform to institutional investors.
Read the full story at Institutional Asset Manager…
Private equity house WestBridge has promoted Peter Barkley to director.
Barkley joined WestBridge in August 2019 to head the firm’s newly opened Manchester office and establish the firm in the north west, north east and Yorkshire markets.
After qualifying at BDO, he joined Dow Schofield Watts where he came to the attention of WestBridge after advising the firm on its GBP10 million investment in environmental consultancy APEM. Since moving to WestBridge, he has joined the APEM board and is actively supporting the company’s buy and build strategy.
Barkley was also instrumental in the delivery and completion of the
Unigestion, an independent, specialist asset manager, has already deployed over 40 per cent of its second direct private equity fund after closing at over EUR600 million.
Unigestion Direct II (UDII), which provides investors with access to a portfolio of direct investments in high quality small and mid-market companies, has invested in 12 companies located across Europe and the US. These companies play long-term growth themes such as Nutrition, Tech-enabled services and Healthtech and are therefore less sensitive to GDP. They include a Spanish provider of flavourings for vegetarian and vegan food, a US leading developer of specialty precision components for
Rwanda Finance Limited (RFL) and the East Africa Venture Capital Association (EAVCA) have formed a new partnership to enable private investment in Africa through their respective mandates.
The partnership between RFL and EAVCA will provide a platform for Rwanda to increase its attractiveness and competitiveness as a business and financial hub for private equity and venture capital activities through the Kigali International Financial Centre (KIFC). EAVCA, whose core mandate is to advance East Africa as a private capital destination while ensuring a favourable environment for trade for the business and financial sector, will promote KIFC within its network and connect
Waystone, a provider of institutional governance, risk and compliance services to the asset management industry, has secured significant investment from Montagu Private Equity, a European private equity firm, to accelerate its global growth strategy.
The investment represents a significant opportunity for Waystone to build upon its current expansion plans and continue to invest in offering its clients an extensive set of global solutions and unrivalled quality of service. The investment, which is subject to regulatory approval, will see Montagu take a strategic stake in the business and support the next phase of Waystone’s growth.
The investment will also conclude
MiddleGround Capital, a Kentucky-headquartered, middle market private equity firm that makes control investments in B2B industrial, manufacturing and distribution businesses, has appointed Justin W Steil as a Managing Director on the firm’s Investment Team.
Steil is based in the firm’s New York office and is responsible for sourcing, evaluating and leading investments, as well as supporting the portfolio and helping to set the firm’s strategic direction.
Steil was most recently a Managing Director at PineBridge Investments, where he focused for more than seven years on private equity and subordinated debt investments in the firm’s Private Capital business. Steil previously spent
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