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PSG, a growth equity firm partnering with lower middle-market software and technology-enabled service companies, has closed PSG Europe, the firm’s debut Europe-focused fund, with EUR1.25 billion in limited third-party partner commitments.
The fund, which was oversubscribed, received commitments from existing and new PSG investors, including state pension funds, sovereign wealth funds, family offices and high net worth individuals. The final close of PSG Europe brings PSG’s aggregate capital commitments across the US and Europe to more than USD5 billion.
The London-based PSG Europe team consists of 22 investment professionals advising on fund investments in European growth-stage and lower middle-market
Funds advised by Permira Debt Managers (PDM), a specialist debt investor, are acting as senior secured lender to the new investment by The Carlyle Group in Jagex, an independent video game developer in the UK.
The support continues PDM’s focus on high quality growing businesses, particularly in the tech sector.
Headquartered in Cambridge, UK, and employing more than 450 people, Jagex is one of the largest and most successful British video game studios, developing and publishing video games on PC and mobile. The company is best known for its online role-playing living game franchise RuneScape, which has attracted almost
Loanpal, America’s number one point-of-sale payment platform for sustainable home solutions, has closed its first external investment round at more than USD800 million led by NEA and WestCap Group, as well as Brookfield Asset Management, Riverstone Holdings and private investors.
As part of the transaction, which closed in 2020, Scott Sandell, Managing General Partner at NEA, and Laurence Tosi, Managing Partner of WestCap Group, have joined the company’s board of directors.
“We are solving big world problems with industry-leading technology that makes it easier for everyone to live a more sustainable lifestyle,” says Hayes Barnard, Founder, Chairman and CEO of
Investments into the online healthcare sector soared in 2020, supercharged by Covid-19. According to the research data analysed and published by Finaria, the total digital health funding in 2020 amounted to USD21.6 billion. VC funding led with a total of USD14.8 billion across 637 deals, a 66 per cent year-over-year (YoY) uptick.
Based on a Silicon Valley Bank (SVB) report, investments in the healthcare sector as a whole amounted to USD51 billion during the year. Biopharma led in deal value, with investments worth USD24.5 billion across 570 deals.
The total VC funding in the digital health sector set a new
Everberg Capital (Everberg), a structured capital fund focused on investing primarily in the US middle market, has closed a significant preferred equity investment supporting Two Sigma Impact and BayPine’s investment in Penn Foster, a workforce education platform for middle-skilled workers.
BC partners and FS Investments among other institutional investors joined Everberg in the preferred equity investment. The transaction marks a watershed moment in Everberg’s growth and evolution and was its largest to date.
Founded in 1890 as a correspondence school, Penn Foster has evolved into a digital learning platform focused on closing the skills gap by preparing workforce-ready employees
Eurazeo PME has supported UTAC CERAM’s acquisition of Millbrook, which is group headquartered in the UK. The investment of the funds managed by Eurazeo PME following this transaction amounts to cEUR115 million.
Millbrook was founded in 1970 in the United Kingdom and provides services and systems for testing and validating vehicles to customers in the automotive, transport, tyre, petrochemicals and defence sectors, with a presence in three continents (in Europe, the United States and China). The company serves over 500 customers including some of the world’s largest vehicle, tyre and systems’ manufacturers such as Jaguar Land Rover, Bentley, Michelin, Volkswagen
DSW Debt Advisory – which advises businesses on raising a wide variety of debt funding and is part of the Dow Schofield Watts group – has appointed Lynn Li as Manager.
Li joins from Deloitte in Manchester where, as part of the debt advisory team, she worked on a wide range of financing deals including cross-border transactions with a value of over GBP200 million. A chartered financial analyst with a master’s degree in finance and investment, Lynn has seven years’ experience in finance and started her career with RBS in London. Lynn, who grew up in Spain, speaks fluent Spanish, Mandarin
Global technology business Cosworth is to acquire Delta, a Silverstone-based developer of battery and vehicle dynamics control systems.
Cosworth’s focus on delivering propulsion, electronics and software solutions for the automotive, aerospace and marine sectors will be bolstered by the acquisition of Delta, whose specialities in the development of battery systems, in particular, align with Cosworth’s roadmap for hybridisation and electrification.
Cosworth already offers its customers a key advantage thanks to its ability to design, develop and manufacture clean-sheet solutions from its state-of-the-art facilities. Acquiring Delta, with support from Cosworth’s long-term partner HSBC UK, will enable the business to meet the
Catalio Capital Management (Catalio), a multi-strategy life sciences investment firm, has launched a Credit Opportunities strategy to expand the scope of the firm’s investments across the biomedical technology industry and meet the growing demand for non-dilutive growth capital within the sector.
The Catalio Credit Opportunities strategy seeks to provide senior-secured structured credit to breakthrough biomedical companies, targeting well-capitalised, pre-cashflow businesses with significant support from institutional investors. The strategy will be led by Co-Portfolio Managers John Henry Iucker and Robert Snyder. Iucker and Snyder both joined Catalio from Brown Advisory, an asset management firm with over USD100 billion in AUM, where
CAPZA, an independent management company and a specialist in private investments in European SMEs with EUR4.82 billion under management, has acquired a minority stake in Magellan Partners Group.
Magellan Partners is an Organization and Information System Consulting group anchored in Technology and Data. With more than 1,200 consultants and a turnover of nearly EUR140 million in 2020, it is one of the leaders in the digital transformation of companies in France. Magellan Partners defines operational, data and digital strategies, defines and supports business strategies for energy transition supported by digital technology, leads the execution of projects, and implements innovative technological
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