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Sanne, a provider of alternative asset and corporate business services, has promoted Peter Nagle from Global Head of Client Growth to the role of Chief Commercial Officer.
In his new role, Nagle will be responsible for client service delivery in all jurisdictions and the firm’s continued commercial development.
Nagle joined Sanne in 2018 to lead the Mauritius business where he demonstrated his leadership as a key member of the senior management team. Prior to joining Sanne, Nagle worked in a variety of organisations in the alternatives industry, within numerous jurisdictions and products, with an excellent track record for over
proSapient has closed a USD10m Series A investment round led by Smedvig Capital, with Guy Hands and existing investors 24 Haymarket also participating in the round. This brings the total raised by proSapient to date to USD18 million.
The new funding will accelerate proSapient’s international expansion as well as support the roll out of their workflow SaaS platform which helps solve a major pain point for users of expert networks, using multiple networks simultaneously.
Founded in 2017, proSapient is a primary research platform helping investors and consultants gather the data they need to make those big decisions. Through the
Private market portfolio solutions provider Pathway has promoted Simon Lau to Managing Director.
Private equity firm OpenGate Capital is to sell Bois & Matériaux (B&M), a French building products distributor, to Chausson Matériaux, a major building materials distribution company.
Terms of the agreement have not been disclosed, and the final sale is subject to closing conditions and works council consultation. OpenGate Capital acquired B&M in March of 2016 from Wolseley Plc, representing the firm’s second investment within Fund I.
Bois & Matériaux, with headquarters in Pacé, France, is one of the leading building materials distributors in France. The business has more than 2,100 employees and operations across the northern region of France
A fund managed by Odyssey Investment Partners (Odyssey) has acquired Applied Technical Services (ATS), a provider of high-quality testing, inspection, and calibration services, in partnership with Jim J Hills, the Company’s President, and the existing ATS management team.
Financial terms of the transaction have not been disclosed.
ATS, headquartered in Marietta, Georgia with more than 40 offices across the US, is a leading technical service platform that deploys a national network of experienced, highly technical professionals to provide mission-critical testing, inspection, certification, and compliance (TICC) services. Powered by innovative technology, significant operational scale and expertise, and deep knowledge of complex
New State Capital Partners (New State), a middle-market private equity firm that invests in business services, industrials, and consumer products, has added four new executives to its team and made two promotions.
Daniel Han joined as Head of Special Strategies; Parashar Ranade was named Senior Principal; William Marshall was appointed Operating Partner, CFO Operations; and Victoria Smorodinova joins the investment deal team as Associate. In addition, the firm has promoted Kurt Lentz to Senior Principal and Adam McDowell to Senior Associate.
“We are very pleased to welcome these four accomplished new members to our team and to acknowledge
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
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