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UK mid-market private equity investor Livingbridge has agreed the sale of Broadstone, an independent provider of specialist pensions, trustee, and employee benefits solutions, to ICG.
Livingbridge’s investment was originally made from the Livingbridge 5 fund.
Founded within BDO Stoy Hayward in 1989, Broadstone offers coordinated, end-to-end pensions, trustee, and employee benefits solutions to SMEs and large corporates – helping them to navigate an increasingly complex regulatory landscape and evolving employee demands.
Livingbridge first invested in Broadstone in 2016, having identified the potential to build a mid-market leader of scale in the highly fragmented pensions and employee benefits sector.
Turquoise, a UK merchant bank specialising in energy, environment and efficiency, has announced its seventh deal for the Low Carbon Innovation Fund 2 (LCIF2), a GBP330,000 investment in mobility app company SKOOT RIDE.COM Ltd (SKOOT).
SKOOT was founded in 2019 to promote and facilitate lift sharing amongst friends and colleagues. Passengers share the costs of the journey, but as the driver does not make a profit, this ensures that the driver is not subject to the regulations governing taxi services. The passenger will pay between 10% and 30% of the cost of a traditional taxi.
SKOOT’s app went live on
Innovate Finance, an industry body representing UK FinTech, has released investment figures for the global FinTech sector in 2020 that reinforce the UK’s position as a global and European leader.
The UK FinTech sector has retained its role as the top-ranking investment destination in Europe, with USD4.1 billion venture capital and growth private equity invested across a total of 408 deals. This represents a YoY drop of 9 per cent – an expected shift given the global Covid-19 pandemic and the surrounding economic challenges. Globally, the UK ranks second only to the US in total capital raised.
Overall, global
Greenspring Associates, has successfully completed a continuation fund transaction for Giza V, a 2008 vintage venture-capital fund, managed by Giza Venture Capital (Giza).
The continuation fund, with around USD100 million in commitments, provides Giza with the opportunity to increase the value of the portfolio companies by providing additional time and capital for growth. The portfolio companies were transferred into the continuation fund with limited partners in Giza V having the option to cash-out or to roll-over into the continuation fund.
“As global venture investors in fund, direct and secondary opportunities, we have seen increasing volume in GP-led restructurings, both on
Foresight Group (Foresight), an independent infrastructure and private equity investment manager, has opened a new latest Alternative Investment Fund Manager (AIFM) office in Luxembourg.
The new AIFM licence will enable Foresight to meet the needs of its EU investor base and strengthen its presence in continental Europe. Foresight currently manages two EU domiciled funds, the EUR75 million Foresight Italian Green Bond Fund (IGB) and the EU-taxonomy validated cEUR430 million Foresight Energy Infrastructure Partners (FEIP).
This strategic milestone in Foresight’s expansion demonstrates its commitment to ensuring post-Brexit continuity of the provision of Fund Management services within the EU. Luxembourg has
BV Investment Partners (BV), a middle-market private equity firm focused on the tech-enabled business services, software and IT services sectors, has invested in PixelMEDIA (Pixel), a digital commerce services firm dedicated to helping brands launch, manage, and grow their ecommerce business on Salesforce.
Co-founders Erik Dodier, Chief Executive Officer, and Thomas Obrey, Chief Technology Officer, will continue in their current roles and maintain a significant ownership interest in partnership with BV.
Pixel is a digital commerce services firm dedicated to helping brands launch, manage, and grow their ecommerce business on the Salesforce platform.
Pixel’s certified global team covers
Blue Point Capital Partners (Blue Point) has announced three promotions across its investment team: Jonathan Pressnell to Partner, Evan Cottington to Vice President and Bobby Grebenc to Senior Associate.
As members of Blue Point’s investment team, all three play an integral role in the Firm’s investment sourcing, diligence, monitoring and value creation efforts.
Pressnell, who has been promoted to Partner, has twelve years of investing experience, nine of which have been at Blue Point. During this time, he has been instrumental in deal sourcing, execution and driving value creation at several of the Firm’s portfolio companies. He has also played
Blue Horizon Ventures, a sustainable food system focused venture capital fund, has held the final close of its first flagship fund Blue Horizon Ventures I, well beyond its initial target size at EUR183 million.
The fund has attracted Limited Partners (LPs) around the world, ranging from private investors (numerous large single and multi-family offices) to corporates and institutional investors. Renowned investors include among others the European Investment Fund EIF, Wire Group’s Private Markets Funds, Givaudan, Group Bimbo, Sigma, B8Ventures, Korys/Colruyt Group. In total, more than 100 different investors from around 20 nationalities subscribed to the fund.
The mission of
BEX Capital, a private equity secondaries specialist, has opened a new office in New York headed by Stéphane Chevrier who joins the BEX team as Partner, Head of Origination and Member of the Investment Committee.
BEX Capital, founded in France in 2010, is the first secondary firm dedicated to the acquisition of positions in global private equity fund-of-funds, secondary funds and co-investment funds (as opposed to positions in direct funds). It has over USD500 million of capital under management.
Chevrier joins from Invesco Private Capital, formerly OppenheimerFunds, where he was responsible for private equity in New York. Prior to
Accountancy and business advisory firm, BDO has strengthened its private equity and tax expertise with the appointment of a new partner.
Jennifer Wall joins BDO’s partnerships team and will focus on working with private equity funds, providing specialist tax advice and reporting services. She joins BDO from KPMG.
Wall says: “I am looking forward to working with a number of teams across BDO to deepen relationships with new and existing private equity clients in what is an exciting time for the market.
“One of my favourite parts of my role is working collaboratively across the firm, giving me
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