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Kinderhook Industries (Kinderhook), a private equity firm specialising in middle-market control investments in the healthcare services, environmental/business services and automotive/light manufacturing sectors, has successfully completed a recapitalisation of Kinderhook Capital Fund III, a $300 million committed capital, 2009 vintage fund. AlpInvest Partners and affiliated investors (AlpInvest), a leading player in the private equity secondary market, led the transaction and is now the largest investor in the Fund.
All limited partners of the Fund were provided the option of retaining their position in the Fund or receiving full or partial liquidity. The aggregate value of the portfolio was approximately USD360 million, with
IQ-EQ has acquired Conseil Expertise & Synthese (CE&S), an independent accounting business based in Paris. This latest acquisition, the firm’s second in 2020, adds further scale and a strong client book to its French operations enabling is to offer an extensive suite of funds, corporate and private wealth services.Led by principal, Jean-Noël Servans, and three other senior partners since 2010, CE&S offers accounting, tax, payroll and corporate secretarial services to a range of fund managers, entrepreneurs, corporates, and high net worth clients. The deal will result in the creation of a 75 person strong business in France.
As the
Covid-19 has had an effect on the Chinese economy, but not on longer term trends in the Chinese private equity market, according to Ivo Naumann, Shanghai-based partner and leader of McKinsey’s private equity & principal investors practice in Greater China.
China is the third largest private capital market in the world, of which USD66 billion was invested in private equity in 2019. The country is the third largest market for private equity today, after the US and UK.
“If you look at the private equity industry in China, in many ways it’s a growth story. Looking at long term trends
Munich Private Equity Partners (MPEP) has started fundraising for its fourth private equity program, MPEP IV, which offers institutional investors the opportunity to invest in two pre-built private equity fund portfolios.
Investors receive high visibility on the manager quality and expected portfolio construction, consequently the blind pool risk typically associated with such investments is already substantially reduced. With two separate vehicles targeting fund investments in Europe and North America, investors can flexibly structure their allocation according to their regional preferences at the time of the investment.
To date, ten fund investments have already been completed all of which are at
Intertrust, a specialist in providing tech-enabled fund and corporate solutions, has reached a binding agreement to acquire the corporate services business of India-based Sameer Mittal & Associates.
Sameer Mittal & Associates, which was established in 2012, has been Intertrust’s preferred corporate services partner in the region since 2016 and currently employs approximately 50 permanent members of staff. The business provides a range of administration services dedicated to servicing multinationals, private equity and funds clients. The acquisition will enable Intertrust to provide its corporate clients with a full suite of services in India in addition to serving its global clients onshore
Humatica, a private equity specialist adviser has teamed up with DotProjects to offer its services and local support in Asia.
DotProjects is a Singapore-based specialist consultancy in the area of project governance and business process optimisation. Humatica and DotProjects have collaborated successfully since early 2019 on high impact projects including for a leading global private equity fund. Based on their complimentary offers, Humatica’s increasing Asian business and common values, it was an obvious step to agree a cooperation agreement which will commence from September 2020.
Humatica will offer its full range of pre- and post-deal services to activate organisations
Clir Renewables, a provider of performance assessment software for wind energy, has supported Elemental Energy, a major renewable energy developer and investor, in an M&A consideration by analysing renewable energy assets ahead of acquisition.
The North American renewable energy M&A market is thriving, with a record volume of onshore wind and solar capacity bought and sold in 2019. While a large proportion of wind acquisitions have been for new installations, investors are increasingly looking to buy operational projects that have the potential to generate higher returns than historical performance would imply.
Clir utilised its industry leading software to assess
Addleshaw Goddard has advised artificial intelligence cardiovascular disease specialist GEN inCode UK Limited, on its GBP3 million institutional foundation fundraise from Maven Capital Partners and Downing LLP.
GCM Grosvenor, a global alternative asset management firm, has appointed Pamela Bentley as Managing Director of Finance effective October. She will then assume the role of Chief Financial Officer effective 1 January, 2021.
Bentley will be responsible for managing the financial functions of the firm including overseeing activities related to corporate and fund accounting, treasury and cash management, financial planning and reporting, tax, and operational due diligence while also playing a vital role in GCM Grosvenor’s strategic initiatives. She will report to Jon Levin, President of GCM Grosvenor.
MBentley brings more than 25 years of financial and accounting experience to
Evli’s alternative investments team will gain more expertise during the autumn when Ville Toivakainen (MSc (Econ), CFA) joins the portfolio managers.
Toivakainen has almost 20 years of experience in alternative investments from, among others, OP Financial Group and RAM Partners. Prior to joining Evli, Toivakainen worked at Aktia Asset Management and was responsible for alternative investments, focusing on private debt investments. At Evli, Toivakainen’s focus will be the launch of a new private debt fund.
“Private debt is debt financing for companies. Debt instruments are illiquid and, unlike, for example, listed shares or bonds, do not have a broad ownership
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