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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
Inflexion continues to invest in building its 100-strong team and has announced a number of promotions and appointments.
Tom Pemberton has been promoted to Partner, reflecting his contribution to the Enterprise Fund and consumer team, while Kirsty Tikerpae’s contribution to the smooth operation of our business has seen her named Partner.
Chris Wright has been appointed as Partner in our Manchester office, where he will focus on developing investment opportunities with high growth businesses across a range of sectors in this dynamic region. Chris brings over 15 years’ experience of working with rapidly expanding, ambitious companies in both private equity
UK private equity and venture capital funds generated 10-year returns of 14.2 per cent in 2019, outperforming the FTSE 100 and FTSE 250, according to new research from the BVCA.The BVCA’s annual Performance Measurement Survey, produced with PwC, reports on the aggregated performance of all independent UK venture capital and private equity funds managed from the UK by BVCA members. The survey covers 117 fund managers and 813 funds. The results are presented net of fees and costs.
In this summary analysis, we find the 10-year return of 14.2 per cent IRR delivered by UK private equity and venture
Intercontinental Exchange, an operator of global exchanges and clearing houses and provider of mortgage technology, data and listing services, has received regulatory approval for, and completed, its USD11 billion acquisition of Ellie Mae from leading private equity firm Thoma Bravo.“We are excited to begin the next important chapter in our journey to digitise the residential mortgage industry,” says Jeffrey C Sprecher, Founder, Chairman and CEO of Intercontinental Exchange. “Ellie Mae’s industry leadership and best-of-breed technology will better enable us to further accelerate the automation of the mortgage origination workflow, which will benefit stakeholders across the production chain, including consumers.”
Ellie
New World Capital Advisors (NWCA), a global special situations merchant banking and investment firm, has appointed Lena Tan and Rony Rached to its Board of Directors. The investment firm, which saw its group AUM surpass USD2.5 billion earlier this year, continues to strengthen its leadership team in line with future growth plans.
Tan is the Chairman of 7-Eleven Malaysia Sdn Bhd and director of 7-Eleven Malaysia Holdings Bhd (KLSE: SEM) and Chairman of Singer Malaysia. She also serves as a Director at Berjaya Retail, Razer Fintech, Berjaya Fintech and Berjaya Credit. Prior to her formal appointment, Tan has supported NWCA
Investcorp, a global provider and manager of alternative investment products, has invested in Terminus Technologies, an artificial intelligence (AI) CITY and smart service provider in China. Investcorp has been investing in tech-enabled businesses for 20 years and focuses on identifying companies that it considers to have established business models and are supported by long-term secular growth trends such as AI.
Investcorp believes that its strategic investment in Terminus Technologies will not only contribute to the company’s growth, but it also reflects its confidence in the overall AI CITY layout and business model promoted by Terminus Technologies.
Ever since its
Iron Pillar, a VC firm focused on investing in Indian high growth tech companies, recently onboarded Cyrus Wadia, head of sustainability at Amazon, to guide its companies on sustainability.
Arrow Capital Partners, an investor and operator of real estate in Europe and Asia-Pacific, has appointed Martien van Deursen as its Head of Benelux.Van Deursen will be responsible for sourcing, underwriting and executing transactions and investment management in the Netherlands, including Arrow’s EUR3 billion SIRE joint venture. Arrow currently has a portfolio of EUR100 million-plus multi-let, distribution and light industrial assets in the Netherlands mainly located in the Amsterdam, Rotterdam, The Hague and Utrecht conurbations. Arrow is planning to invest a further EUR500 million over the next three years into similar assets that can be acquired in multiple ways including
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