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Triple Point has launched an initiative to help new start-ups, in recognition of the role innovation and technology will play in the UK’s economic recovery.
Triple Point’s investment initiative, called Kick Start, is designed to target the very early stage businesses that have yet to raise funding. It will be led by the firm’s VC funds team and invest ticket sizes of between GBP100-GBP150,000 in companies with pre-money valuations of between GBP1 million-GBP1.5 million, usually as the first external money into the startup.
The money is meant to be allocated to the UK’s most innovative start-ups. “High growth companies will
BNP Paribas, China Investment Corporation (CIC) and Eurazeo have held a first close of their France-China Cooperation Fund on EUR400 million.
The fund, which will be managed by Eurazeo, manifests plans set out last year, including a letter of intent signed in the presence of China’s and France’s presidents Xi Jinping and Emmanuel Macron. It will be seeking investment opportunities alongside Eurazeo’s middle market buyout strategies; Eurazeo Capital and Eurazeo PME.
The fund, which is underwritten entirely by the BNP Paribas Group, CIC and Eurazeo, will invest in French and continental European companies that are aiming to grow in China.
By Michael Halford & Brian O’Neill, Goodwin – Until recently, an investor in a private equity fund could expect an investment to be tied up for at least 10 years. Historically and currently, private equity funds have a 10-year life with the option for the general partner (usually with some form of investor or advisory board consent) to extend the fund by two or three additional one-year periods. In practice however, private equity funds have lasted longer than this with a typical fund potentially lasting for 15 years or more before final wind up and liquidation.
The Carlyle Group and T&D Holdings have completed their acquisition of a 76.6 per cent interest in Fortitude Group Holdings, whose group companies include Fortitude Re, from American International Group, Inc (AIG). The transaction, which was first announced in November 2019, closed following receipt of required regulatory approvals and customary closing conditions. At closing, AIG received approximately USD2.2 billion in sale proceeds, including the purchase price of USD1.8 billion along with additional consideration paid in accordance with the terms of the purchase agreement.
Fortitude Re is the reinsurer of approximately USD30 billion of reserves from AIG’s Legacy Life and Retirement Run-Off
Confluence Technologies (Confluence), a global technology solutions provider delivering innovative products to the worldwide money management industry, has appointed Sunil Rajan as Global Head of Sales. In this role, he is responsible for setting the company’s overall sales strategy and overseeing the global sales team responsible for executing on it. Rajan is based in Confluence’s Wimbledon office and reports directly to Todd Moyer, President and COO.
Following its acquisition of StatPro in October 2019, Confluence has combined its front-, middle- and back-office offerings to strengthen its position as a global leader in data-driven managed investment solutions. Confluence continues to deliver innovative
Enhanced Healthcare Partners (EHP), a New York-based private equity firm specialising in middle-market healthcare businesses, has made a joint investment in the business merger of Synergy Surgicalists and EA Health.The combined company will offer integrated, high performance clinical staffing and management services for emergency medicine, orthopaedic and general surgery staffing and specialty on-call services. The merger of the businesses will provide enhanced value to all stakeholders—patients, hospitals and clinicians—with a suite of solutions to drive patient care, physician satisfaction and hospital efficiencies.
Industry veteran Bill Sanger, chairman of EA Health and former chairman and chief executive officer of Envision
Alternative asset management firm GCM Grosvenor has closed on an agreement to provide USD85 million in debt financing to Bakersfield Renewable Fuels (BKRF) to help retool the former Alon oil refinery in Bakersfield, California. GCM Grosvenor joins Orion Energy Partners (Orion Energy) and Voya Investment Management (Voya) in providing a total of USD365 million in capital to BKRF.
The investment is part of GCM Grosvenor’s Labor Impact Strategy, which focuses on investing in infrastructure assets that rely on collaboration with union labor to seek opportunities that generate high-quality risk-adjusted returns for investors.
BKRF’s retooling of the facility is expected to take
Private equity and special situations institutional investor Sandton Capital Partners (Sandton) and Sheffield-based credit management specialist Credit Style have joined forces to support businesses facing financing and credit management challenges. The collaboration of these two industry specialists comes as many businesses continue to struggle in the wake of COVID-19, with recent figures from ONS revealing 42 per cent of UK businesses having less than six months of cash reserves, rising to 58 per cent for businesses who had temporarily paused trading. This compared with 39 per cent of businesses continuing to trade.
The partnership has been launched following over nine months
Kinly – a global specialist in video collaboration services, headquartered in Amsterdam – has acquired AVMI – a global AV-integrator and managed services provider, headquartered in London.Kinly and AVMI operate in over 20 locations throughout Europe, USA and APAC, serving clients in over 125 countries with over 1,200 talented and passionate employees.
Robbert Bakker, CEO of Kinly says: “We are very excited to announce that AVMI, a leading UK based global AV integrator, will join and strengthen the Kinly team. The combination of our businesses will support our strategy to expand our international presence. Together, we offer our clients a
Hunter Boot Ltd, a global footwear and outdoor lifestyle brand, has completed the recapitalisation of the business, led by existing shareholder, Pall Mall Legacy, and supported by Searchlight Capital, Pentland and other minority shareholders. As part of the recapitalisation, existing lender Wells Fargo will augment and extend existing financing arrangements for a further three years. As a result, Hunter will have the benefit of an additional GBP18.5 million of capital, to support future growth.
Founded in 1856, Hunter is a progressive British heritage brand renowned for its iconic Original boot and holds two Royal Warrants of Appointment to HM The
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