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MidOcean Partners, an alternative asset manager specialising in middle market private equity and alternative credit investments, has added Leslie Tanca and Tim Percarpio to the Firm’s Investor Relations team.
Both Tanca, who joined as a Vice President, and Percarpio, who joined as a Managing Director and the Head of Investor Relations, will work across the private equity and credit businesses, supporting MidOcean’s fundraising and client service efforts.
MidOcean’s Chief Operating Officer, Debbie Hodges, says: “We are pleased to welcome Tim and Leslie to the MidOcean team. Tim brings more than 20 years of experience in senior institutional marketing and
Private equity firm Genstar Capital has held the first and final closing of Genstar Capital Partners X (Fund X) with approximately USD10.2 billion in total commitments. In addition, the firm has raised committed overage capacity of USD1.5 billion from select limited partners for Genstar’s Opportunities Fund X, which will co-invest in Fund X’s larger transactions.
The General Partner and affiliated entities are collectively the largest investor in Fund X. Total capital raised, including Fund X, the General Partner, affiliated entities, and the overage capacity is approximately USD11.7 billion.
The fund reached its hard cap and was significantly oversubscribed, closing
AURELIUS has acquired SSE Contracting Limited (SSEC) from SSE Plc in a complex carve-out of the multi-disciplinary Mechanical and Electrical (M&E) contracting business for an enterprise value of GBP27.5 million.
As a standalone business SSEC is one of the biggest M&E contractors in the UK and Ireland providing mechanical, electrical, rail, street lighting and high voltage engineering services to install and maintain key infrastructure.
Operating from its nationwide network, SSEC has around 1,900 employees and high voltage (HV) engineers that provide essential energy infrastructure for a range of public and private sector clients, including hospitals and schools. It is
Global private equity firm OpenGate Capital has acquired Kongsberg Precision Cutting Systems (Kongsberg) from Esko.
Kongsberg is a manufacturer of digital cutting systems, a global developer of integrated software and hardware solutions for the packaging, label, and wide format sectors. Terms of the acquisition were not disclosed.
Established in 1965, Kongsberg is a specialist in providing high speed, clean, precision cutting for packaging, signage, and display purposes with operational facilities in Belgium, Czech Republic, and Norway.
OpenGate Capital’s Founder and Chief Executive Officer Andrew Nikou says: “With the heightened focus on digitisation in the industrial sector, Kongsberg is well positioned
Leading global investment firm KKR has held the final close of KKR Asian Fund IV, a USD15 billion fund focused on investments in private equity transactions across the Asia Pacific region.
KKR will be investing approximately USD1.3 billion in capital alongside fund investors through the Firm and its employees’ commitments.
“Over the last 16 years we have strategically built our Asia Pacific platform and diverse regional team to unlock what we believe are some of the most compelling investment opportunities in the world given Asia Pacific’s growth and dynamism,” says Ming Lu, Head of KKR Asia Pacific. “Our new flagship
HIG Capital (HIG), a global alternative investment firm with over USD43 billion of equity capital under management, has completed the acquisition of SMTC Corporation (SMTC).
Prior to the transaction, SMTC was publicly listed on NASDAQ.
Founded in 1985, SMTC Corporation is a global Electronics Manufacturing Services (“EMS”) provider focused on partnering with leading original equipment manufacturers and emerging technology companies to provide the full range of end-to-end EMS services, from prototyping and design, to manufacturing and logistics. SMTC’s diversified operating footprint across the United States and Mexico supports customers across multiple industries, including aerospace and defence, industrial IoT, power, medical,
Private equity firm Genstar Capital has completed the sale of Worldwide Facilities (Worldwide), the fourth-largest wholesale insurance broker in the US, to Amwins Group (Amwins), a global distributor of specialty insurance products and services.
Worldwide acts as a value-add intermediary between retail insurance agencies and specialty insurance companies and creates innovative insurance solutions for emerging risks and exposures. The company wrote nearly USD2 billion in gross premiums in 2020 and has experienced double digit growth for the past five years. Founded in 1970, the company is headquartered in Los Angeles and has over 35 offices across the US
Worldwide
Ancala Partners, an experienced investor in critical mid-market infrastructure, is to make a substantial further equity investment into Portsmouth Water, a regulated water business in the UK, to fund construction of the Havant Thicket Reservoir and support other growth projects.
Alongside the additional funding, Portsmouth Water has signed a sustainability-linked financing package with ING, NatWest and Siemens to fund the reservoir project. The financing package features a margin-based incentive linked to Portsmouth Water’s performance against environmental and social targets such as water leakage, supply interruptions, carbon reduction, biodiversity and affordability, actively integrating ESG metrics into the company’s financing strategy.
Vision Ridge Partners, an alternative asset manager focused on sustainable real assets, has closed its USD1.25 billion Sustainable Asset Fund III (Fund III). The Fund held its final close just four-and-a-half months after commencing fundraising. Fund III initially targeted USD1 billion of commitments and drew interest beyond the USD1.25 billion hard cap.
“The speed, size and high-quality LP base of our fundraise speaks to increasing investor interest in aligning their portfolios with the transition to a sustainable real economy,” says Reuben Munger, Vision Ridge’s managing partner. “Sustainable investing is no longer a niche strategy that investors want to add
Sentinel Capital Partners (Sentinel), a private equity firm that invests in promising lower midmarket companies, has recapitalised TranSystems, a leading provider of engineering, architectural, and design consulting solutions for US transportation end markets. Terms of the deal have not been disclosed.
TranSystems plans, inspects, designs, and provides related services to some of the most complex transportation infrastructure projects in the US. With more than 750 highly skilled engineers and technical employees working from 30 strategically located offices, the company serves a diverse client base across both the public and private sectors, including government, freight, transit, aviation, and intermodal end markets.
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