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Private equity firms’ knowledge of the insurance market and strategic use of cover remains relatively limited, according to research undertaken by Gallagher, one of the world’s largest insurance broking, risk management and consulting services companies.In Q1 this year, just 17 per cent of firms reported a comprehensive knowledge and awareness of the insurance market and use of cover for capital efficiency. Comprehensive knowledge levels were similarly low among US and UK-based firms, falling to 13 per cent for Asia-based firms. A higher proportion of respondents from larger funds (28 per cent) reported higher levels of knowledge.
Just half (51
Mid-market private equity investor LDC has invested more than GBP 17million into Beekman Associates, a developer and provider of the data-driven marketing procurement platform RightSpend. The deal will help the management team to drive organic growth, further develop its software as a service (SaaS) offering and continue to expand into new international markets.
Headquartered in London and with a second office in New York, Beekman Associates and its industry-leading software platform RightSpend supports global brands in the assessment of their marketing activity in real time, to help save and optimise marketing spend and manage agency relationships more effectively. The business has
BIMA, a provider of digital health and insurtech services in emerging markets, has secured USD30 million in further investment as demand for digital health services doubles. Covid-19 is the catalyst behind the surge, with consumers seeking increased access to telemedicine and insurance cover against life and health risks. Leading Chinese fintech investor CreditEase Fintech Investment Fund (CEFIF) has invested in BIMA for the first time, while existing shareholders LeapFrog Investments and Allianz have both increased their investment. The new capital will allow the company to expand its product offering, scale its capabilities as demand continues to increase and deepen its footprint
Faegre Drinker has advised EPAM Systems, a provider of digital platform engineering and software development services, on its acquisition of Ricston Ltd, expanding EPAM’s global Application Programming Interface (API) practice and salesforce capabilities. This was the second international acquisition on which Faegre Drinker’s London office has advised EPAM.
Ricston, which has offices in the UK, Malta and Spain, provides a variety of services across the full cycle of digital transformation, including legacy modernization, software integration, Open API and Centre for Enablement (C4E). They also provide training and operations for the Anypoint Platform™ as well as a dedicated team that builds connectors.
The latest RisCura-SAVCA South African Private Equity Performance report reveals that private equity, like many asset classes, has been adversely affected by Covid-19.The 2020 first quarter report tracks a representative basket of private equity funds in South Africa.
Monwabisi Zikolo, a senior private equity analyst at investment firm RisCura, says that South African private equity is a resilient asset class. With the Covid-19 crisis hitting South African shores late in March, the impact of the pandemic on the market and asset prices is evident in the first quarter performance for both public and private markets.
“The results for the first
Funds advised by Warburg Pincus, have reached an agreement to invest in Infoniqa, a supplier of HR software and service solutions in DACH countries, alongside existing investors Elvaston and Infoniqa management.Infoniqa, founded in 1988 in Austria, is a software and services solutions specialist across all areas of administrative and strategic human resources such as personnel management, payroll accounting, time management and outsourcing.
The business provides services to over 3,500 corporate customers, managing over two million pay slips. Infoniqa also offers payroll outsourcing services, software hosting (SaaS), consulting and training.
By Sergey Sheshuryak, Adams Street Partners – To gain a perspective on the private equity market in Europe in the second half of 2020, we start by looking back to the seemingly distant past of 2019 – before pandemic-related shutdowns, social distancing, central bank stimulus plans, and Zoom meetings.
By Richard Beresford, partner and chairman of McCarthy Denning – Special Purpose Acquisition Companies (SPACs) have been grabbing the headlines recently in the US, with record amounts being raised for these so-called “blank-cheque” companies: over USD27.5 billion so far this year, including the USD4 billion garnered by Bill Ackman’s Pershing Square Tontine Holdings.
That is by far the largest amount ever raised by a single blank cheque vehicle. Not only have the amounts raised been rising, but there has been a shift in focus towards Silicon Valley, with veteran tech VC players, such as Kevin Hartz, who was an early backer of Airbnb
Sarasin & Partners – a global thematic investment manager with GBP15.4 billio* invested on behalf of charities, private clients and institutions – has hired Matt Pumo as Head of Institutional.
Pumo, who is tasked to grow the group’s presence in the UK and explore global opportunities, has two decades of experience in the institutional space – particularly in the global consultant channel and the top end of the UK pension funds market.
His arrival further strengthens Sarasin & Partners’ institutional and international capability, demonstrating the group’s long-term commitment to managing assets in these areas, alongside the firm’s increasing presence
Mezzanine Management has sold its significant minority stake in MBL Group, a European manufacturer of medical mobility devices it has backed for nearly four years, in a sale to INVL Baltic Sea Growth Fund.
This is the seventh successful exit for Mezzanine Management’s AMC Funds in the last 12 months. The transaction generates a strong IRR and money multiple for investors following a partnership which saw profits more than double as the business grew.
Mezzanine Management provided a EUR15 million combined debt and equity package through AMC III in October 2016 to support the company’s continued growth. During the
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