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Intertrust, a provider of tech-enabled corporate and fund solutions, has appointed Derek Ramage as Head of Fund Operations. He will be based in Luxembourg.In his new role at Intertrust, Ramage will have responsibility for shaping and delivering client service excellence and continuing to expand the company’s Luxembourg-based private capital fund business. He will also have responsibility for the day to day running of fund operations, including fund accounting, onboarding, AML/KYC and transfer agency.
Ramge joins Intertrust from International Financial Data Services, where he served as Head of Change Management and IT Governance. He has held various senior positions in the fund industry during his career including as Global
Ambienta, Europe’s largest sustainability-focused private equity investor, has acquired Create Flavours, a UK producer of natural top-notes flavours for the food and beverage sector.The acquisition of Create Flavours further solidifies the position of Ambienta platform Nactarome Group (Nactarome) as a leading independent player in the European natural flavours and ingredients sector, with revenues in excess of €110m, and a diversified customer base of over 4,200 clients served through ten specialised plants across Europe. Nactarome represents a unique, strategic asset with a complete product offering across natural flavours, colours and ingredients addressing an array of end-markets and applications.
The food industry
Arma Partners has acted as exclusive financial advisor to Corilus, a portfolio company of AAC Capital, on its sale to Gilde Buy Out Partners. Corilus enables a smart and efficient healthcare system by connecting care providers, patients and stakeholders. Its cloud-based connected care solutions are used by over 40,000 care providers including general practitioners, dentists, physiotherapists, pharmacies, nurses, elderly care homes and hospitals. Corilus delivers mission-critical software solutions that are deeply embedded in the daily jobs of care workers, covering both administrative and clinical processes. The network effect fostered in its ecosystem of connected care workers and patients makes Corilus truly
Funds managed by Clayton, Dubilier & Rice (CD&R) are to acquire Radio Systems Corporation, a specialist in the companion pet health and safety market. Terms of the transaction have not been disclosed.Founded in 1991 by entrepreneur Randy Boyd, Radio Systems Corporation designs and distributes more than 2,000 pet products under brand names such as Invisible Fence, PetSafe, ScoopFree, SportDOG, and Kurgo, among others. Headquartered in Knoxville, Tennessee, the company has more than 800 employees worldwide that help the company reach consumers across the Americas, Europe, and Asia.
Radio Systems holds the No1 market position by sales in many of the
Kirkland & Ellis has represented Cartesian Capital Group in an investment in its portfolio company Tim Hortons China by Tencent Holdings Ltd.Founded by Cartesian and Restaurant Brands International, Tim Hortons China opened its first restaurant in February 2019 and now operates close to 50 locations across China. The restaurant chain expects to use the funding from Tencent’s investment to further uplift digital transformation, expand its digital infrastructure, and accelerate new store opening to meet consumer needs.
The Kirkland team was led by corporate partners Daniel Dusek and Michael Rackham.
CenterOak Partners (CenterOak), a Dallas-based private equity firm, has formed SurfacePrep through a combination of its legacy investment in GNAP and 10 strategic acquisitions over the last 18 months, including the recent acquisition of Temple Associates, a distributor of loose abrasives and blast equipment based in Sacramento, California. The combination creates the largest provider of surface enhancement solutions in North America. The SurfacePrep network includes 36 distribution branches, process development labs and production finishing centres strategically located in major manufacturing hubs across the United States and Canada, giving the Company the ability to serve its customers coast to coast.
SurfacePrep’s
Capital calls are expected to fall in the short term but should pick up rapidly throughout the year as cash-rich PE funds begin bargain hunting, according to new research by eFront.
eFront, a financial software and solutions provider focused on alternative investments, has published a retrospective analysis of PE performance, capital calls and distributions over the past 20 years, in order to assess the pandemic’s impact on the asset class.
“Each crisis is unique in its own right. However, what is clear is that the NAVs of funds will to some extent mirror the gyration of stock prices, but not
Lombard International Group has donated financial aid to Médecins Sans Frontières’ (MSF) Covid-19 Crisis Fund, to support the global health challenges posed by the Covid-19 pandemic and its consequential impacts to vulnerable populations and communities around the world.
By Jeffrey M Bronheim, Daniel H Mathias, James R Mossetto, Cohen & Gresser – The current global Covid-19 pandemic continues to have a major impact on a wide variety of economic activities. For private equity funds, investor uncertainty and the need to preserve cash may drive LPs to question their obligations to fund capital calls.
When subscribing to a private equity fund, an LP will usually commit to make a total capital commitment of a specified amount. This capital commitment is typically contributed to the fund over time, pursuant to drawdown notices or capital calls issued by the fund’s GP. Such
Private equity firm ClearLight Partners announced today that it has made an investment in ICS, a provider of IT managed services, in partnership with ICS’ owner, Kevin Blake. Terms of the transaction were not disclosed.Headquartered in Endicott, NY, ICS was founded in 1986 and has grown over its nearly 35-year history to now include three offices in upstate New York serving small and medium-sized businesses across a diverse array of end markets. ICS’ service offering includes managed services, cybersecurity, cloud migration & other project-based services, and hardware and software reselling.
“We are impressed with the organisation and culture that Kevin
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