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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
IK Investment Partners-backed LINXIS Group, a provider of specialised equipment for the food and health industries, has acquired Bakon, a specialist in food processing and bakery equipment from managers and current investor Rabo Investments.
Bakon’s activity complements the “Portion Process” division of LINXIS, represented today by the company Unifiller, and enriches its expertise in depositing, but also in ultrasonic cutting and spraying processes. Its experience in managing industrial line projects will enable LINXIS Group and its companies to address larger markets, both in terms of activities and geography.
“With Bakon’s acquisition, LINXIS Group will further strengthen its expertise and
An affiliate of HIG Capital (HIG) has successfully completed the sale of Bigsal, an animal nutrition company in the north region of Brazil, to Trouw Nutrition, a subsidiary of the Nutreco Group, a leader in the sector.
Over the last five years, HIG partnered with Bigsal’s management to invest in the expansion and modernisation of the Company’s factory, which allowed a growth rate of over 50 per cent in revenues, and propelled the Company into a leading position in the states of Rondônia, Acre, Amazonas, and in the northern region of Mato Grosso, one of the main markets for the
A record number of refinancings and recapitalisations have been completed in the first quarter of 2021 in the UK, according to research from global investment bank GCA Altium.
The firm’s ‘MidCapMonitor’ report, which analyses debt transactions across several major European markets, found that 71 deals were completed in the UK in Q1 – the highest amount for a single quarter since the firm established the research in 2015.
The figures also represent more than half of the completed transactions during 2020, highlighting the strong bounce-back of the deals market following the Covid-19 pandemic. Record performance in the UK has
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