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One of the world’s top sovereign wealth funds (SWF) has slected Diligend, a provider of investment management software, to digitalise and automate fund Due Diligence for the private equity fund asset class.
Ara Partners, a private equity firm specialising in industrial decarbonisation investment, has expanded its senior management team through the addition of Tuan Tran as a Managing Director. Tran brings over 20 years of private equity and corporate finance experience across the industrial, environmental services and energy technology sectors, which aligns closely with Ara Partners’ strategy.“I am pleased to announce that Tuan has joined Ara Partners. He is a talented investor with a distinguished investment history,” says Charles Cherington, Managing Partner of Ara Partners. “We have known Tuan for many years. He is a high-integrity individual who will enhance our capabilities
US private equity groups spent an average USD353,000 on external legal counsel per acquisition when prosecuting deals in 2019, according to research released by Apperio, a London-based specialist legal spend management platform. In the UK, the figure was slightly lower at USD253,000.
Regional lender Mercia continues its support of UK SMEs with the announcement of an additional commitment to its debt funds. Over the next five years, Mercia will provide up to GBP40million to support the growth of regional SMEs across the UK.Mercia SME Loans will be providing a much-needed source of finance to ambitious, regional businesses that are seeking debt finance as they move beyond the cash flow constrains caused by the COVID-19 pandemic.
Mercia’s investment team can lend between GBP100,000 to GBP1million to fund working capital, acquisitions, capital investment and management team restructures/buyouts, an area of specialism for Mercia. The
MPM Capital, a life-sciences venture capital firm investing in early-stage therapeutics companies, has appointed Matthew Roden PhD, as an Executive Partner. Roden will be responsible for identifying and assessing new technologies and advising portfolio executives on both business and clinical strategies.
Roden brings deep and broad biopharmaceutical experience in both operating and investing arenas. Matt joins MPM from Bristol Myers Squibb, where he held senior leadership roles in strategy and business development. Earlier in his career, Renod was a biotechnology equity research analyst, leading the global team at UBS, and was a senior biotech analyst and associate at JP Morgan.
“Matt’s
Eurazeo has launched O+, an ESG initiative which the company says will promote the drive towards low carbon and a more inclusive economy, in line with the UN Sustainable Development Goals.
O+ has two main pillars: achieving zero net carbon by 2040 at the latest and playing a role in bridging the widening social gaps.
The aim is to accelerate the transition to a low carbon economy and committing to zero net carbon across the group by 2040, in alignment with the UN’s Science Based Targets initiative.
“As CEO of an investment firm supporting more than 430 companies, I see the benefits
Neo, a treasury management, payments and FX fintech, is launching a new international multi-currency account service for small and medium-sized enterprises (SMEs). Currently, treasurers, CFOs and finance professionals are hampered by the need to navigate multiple accounts with different bank providers – many of which operate in silos – meaning that they are unable to monitor their cash flow, payments and currency exposure effectively.
Neo’s multi-currency account provides users with fully registered International Bank Account Numbers (IBANs) from which they can complete payments in over 30 currencies. While traditional banks often take weeks or even months to set up multi-currency
An affiliate of private investment firm Sun Capital Partners (Sun Capital), has made an investment in Mancini’s Sleepworld (Mancini’s” or “the Company”), a mattress retailer serving the Northern California market. Terms of the private transaction have not been disclosed.
Founded by the Mancini family in 1969, Mancini’s Sleepworld sells leading brand mattresses and other sleep products such as adjustable bed frames. Randy Mancini, a second-generation owner, has built the successful business to [approximately][Seems odd to appear not to know the precise number of locations] 33 locations throughout the Bay area.
“Mancini’s is in Sun Capital’s sweet spot: a family-owned business in
Prime Capital, an independent asset manager and financial services provider that manages EUR17.7 billion across multiple funds, together with ENERPARC AG, has arranged the junior debt financing for a European solar PV portfolio, which is owned by the independent power producer MKM Invest Group. The portfolio consists of solar PV projects in Germany, France, and Spain with a total capacity of 579MW. The financing of 106m EUR was provided by accounts managed by Prime Capital. ENERPARC, who has been developing and realising the solar parks for MKM Invest Group, supported the fundraising on behalf of the sponsor and will deliver the
Cornerstone Brands has completed its acquisition of FXPress Payment Services Ltd (FXPress) following consent from the FCA. FXPress, a regulated Authorised Payment Institution providing cross-border payment services, is now a wholly-owned subsidiary of Cornerstone.
Cornerstone is also pleased to announce that it has received the consent of the FCA for the acquisition of Avila House by FXPress.
Completion of the acquisitions means that Cornerstone will bring together the technology capabilities of FXPress, the e-money assets of Avila House and a strong team with decades of experience of the foreign exchange and payments industry to create a leading cloud-based, multi-currency
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