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Simply put, portfolio performance data is a GP’s most valuable asset. It is their record of achievement, their recipe for future success, and their best fundraising tool, all in one. That is why it is unfathomable that most GPs are still relying solely on spreadsheets, 30+ year-old software, as their primary tool for collecting, managing, and analysing their performance data.
Historically, spreadsheet-based performance data management and analytics meant that any “analysis” was limited by the cumbersome nature of the tool, and so output was centred on high-level performance figures. Fundraising conversations, as a result, only focused on these numbers too.
When it comes to technology solutions, five to 10 years ago, private capital firms used to try to select a single software vendor to deliver all functional requirements across the front, middle and back office. This approach had limited success. Most vendors had strengths in certain areas but key weaknesses in others. None could deliver all functionality well.
“What is now proved was once only imagined” – William Blake, Auguries of Innocence, 1803
The private equity industry remains a staunchly conservative, relationship-driven industry, fuelled by the operational and financial expertise of deal teams to identify the right companies to invest with and transform.
Mid-market private equity house LDC has funded the GBP30 million merger of three cloud-based managed services businesses – DoubleEdge Professional Services, Foehn and Metaphor IT – to form Kerv.
Azora, a Madrid-based European private equity real estate manager, has raised EUR680 million for the launch of a new fund, Azora European Hotel & Lodging, EUR80 million above the Fund’s initial EUR600 million target. With a hard cap of EUR750 million, the Fund has an implied total capacity of more than EUR1.5 billion to invest in leisure hotel opportunities across Europe, with a significant proportion of the portfolio expected to be located in Spain, Europe’s most popular “sun & beach” destination.
Commitments were signed throughout the lockdown period and demonstrate investors’ continued confidence in both the long-term performance of the
Vic Kotecha has joined BerchWood Partners, a global placement agency specialising in raising capital for private equity funds, as a London-based Vice President bringing over 17 years of experience in business development and sales across various areas in the financial sector. Cory Osetkowski is also joining the firm’s New York office as an Associate with two years of experience in derivatives and analysis.
Kotecha has managed fundraising mandates across Europe and Asia and was a Director at Argo Capital, an emerging markets focused credit hedge fund, for two years. Prior to that, he worked as an independent fundraiser at DeBere Capital
Cheney Bros, a family-owned, operated regional food distributor serving the Southeastern United States, has closed an investment by funds managed by Clayton, Dubilier & Rice (CD&R).The investment will help fund the company’s continued expansion across its core markets, including, but not limited to, Florida and North Carolina. The Cheney family remain majority owners of the company, while Byron Russell, grandson of company founder Joe Cheney and CEO since 1981, remains Chairman and CEO. Terms of the transaction were not disclosed.
Founded in 1925, Cheney Brothers provides food and other broad line products to independent restaurants, restaurant chains, hotels, country clubs,
GPF Capital has closed its twenty-fifth transaction since its launch in 2015 with the acquisition via capital increase of a 50 per cent stake in Peris Costumes, a Spainish company specialising in the rental of wardrobe equipment for films and TV series. The Company complements the rental of garments, accessories, and jewellery with the manufacture, repair, dye and cleaning of clothing and footwear.
The current management team, which has a unique knowledge of the sector and is led by Javier and Alejandro Toledo, will remain in the business, and will continue to hold the other 50 per cent stake in
Supermarket Income REIT has acquired the Tesco Extra in Newmarket, Suffolk, from Standard Life Pooled Pension Property Fund for GBP61.0 million (excluding acquisition costs), reflecting a net initial yield of 4.6 per cent.Tesco has a long history of trading from this prominent nine-acre site which was originally developed in the 1980s and completely rebuilt in 2016.
The site comprises a 68,000 sq ft net sales area Tesco Extra with a 12-pump petrol filling station, 654 parking spaces and purpose-built online fulfilment distribution docks, supporting Tesco’s online grocery business across the region. It is being acquired with an unexpired lease term
Cowboy, at the manufacturer of a connected electric bike, has completed its Series B funding round, raising EUR23 million in total.
Leading the round is Exor Seeds, the early stage investment arm of Exor, controlling shareholder of Ferrari and FCA, HCVC, and Isomer Capital, joined by Future Positive Capital and Index Ventures, each of whom are known to support entrepreneurship and impact innovation in Europe.
Adrien Roose, Co-Founder & CEO, says: “We’re thrilled about this raise. It was important that we attract such a diverse group of world-class investors with a track record in supporting excellence in design and technology as we
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