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Macfarlanes has advised private equity firm Epiris on the completion of the sale of TI Media, the large UK publisher previously known as Time Inc UK, to Bath-based media company Future.TI Media owns a diverse portfolio of publications including Ideal Home, Wallpaper and Horse & Hound, and sells over 350 million magazines every year.
Macfarlanes also advised Epiris on the purchase of TI Media from Meredith Corporation in February 2018. Since the purchase, Epiris has refocused the business, selling several titles and its portfolio of comics. This will be the first significant realisation of Epiris Fund II.
The Macfarlanes
TigerRisk Partners, a risk, capital and strategic adviser to the global insurance and reinsurance industry, has partnered with private equity firm Flexpoint Ford to enhance its ability to assist clients as well as provide additional capital and expertise in the current unprecedented market environment.TigerRisk’s management team, including CEO and co-founder Rod Fox, and president Rob Bredahl, will remain in their current roles. Current employees will remain significant shareholders in the company.
“Our partnership with Flexpoint Ford will provide us with the added resources to help our clients navigate this difficult period, capitalise on a dynamic competitive landscape and continue our
By Paul Harragan, EY – For many large cap and mid-market funds, cybersecurity risk is no longer a topic that is left off the boardroom agenda, in-fact effective cybersecurity risk management is considered a key driver for value creation.
Understanding cybersecurity risk provides investors’ confidence and comfort during the hold period and at exit stage avoiding the pitfalls of value erosion.
Value Creator – At exit, if the asset can provide clear evidence that cybersecurity risk has been controlled throughout the hold period, highlighted by a strong maturity posture and zero indicators of compromise.
Value Erosion – Potential Impact to value and brand
The increasing pressures on private equity firms to follow compliance rules and maintain transparency, coupled with the plethora of online systems to manage several communication avenues and priorities both internally and externally, are presenting some very real challenges for financial organisations today.
At Donnelley Financial Solutions (‘DFIN’), a leading risk and compliance solutions provider, security is embedded in its DNA. Over the years, the firm has built out an array of financial technologies to support its clients as they operate in increasingly complex markets, where risks come in a variety of forms; not least of which is the constant threat to data security.
Private equity firms are having to double down on cyber risks in the current climate, as hackers exploit the chaos caused by Covid-19 to target PE-backed companies with ransomware attacks. In a recent Bloomberg article, the point was made that as many PE owners have deep pockets, they are a prime target for ransomware attackers, especially those driving operational efficiencies to improve a company’s P&L position; this can, in certain circumstances, lead to stripped back cybersecurity operations.
Alternative investment specialist, Aquila Capital, has secured further capital commitments for its infrastructure fund, ACIF. The fund’s volume now exceeds EUR200 million. The defensive fund, with a focus on Core and Core+ investments in OECD countries, achieved a further net growth of 9.5 per cent for the full year 2019. Since the fund’s launch, the ACIF has posted positive performance in each quarter, thereby avoiding the so-called ‘J-curve’.
The performance of the fund is mainly driven by positive financial contributions through direct and co-investments, appreciations as well as dividends from the target funds. The portfolio currently consists of more than 180
According to the latest analysis from the CEPRES Investment Platform, 2021 could be the best year for private markets ever because of the fallout from the Covid-19 crisis. The analysis looked back at the impact on private equity and credit transactions before, during and after the most recent Global Financial Crisis (GFC), to interpolate possible outcomes of the current Covid-19 pandemic.
By looking at cash flows of 7,800 funds, 80,500 deals and underlying operating metrics of USD28 trillion worth of PE-backed companies, the CEPRES Platform is able to uncover patterns of returns, risks and deal pricing across different geographies and segments
Global private equity secondary deal flow could fall by as much as 40 to 50 per cent this year, compared to 2019, as the repercussions of coronavirus play out over the next few quarters. But for those operating in the lower middle-market, discounted opportunities could be highly attractive.
Last year, transaction volumes exceeded USD85 billion, a jump of 7.2 per cent on 2018. But those numbers are going to look markedly different come the end of 2020, as the expected number of completed transactions fall over valuation gap fears.
Across the PE secondary landscape, it is possible that overall deal
European bolt-on activity grew rapidly in Q1 accounting for 63.4 per cent of deal volume – a new Q1 decade peak – as the Covid-19 effect has yet to show up in later quarters this year.
Private equity deal activity reached a new first quarter peak in Q1 2020, at 1,025 deals for a total of EUR132.9 billion— a year on year increase of 6.2 per cent and 40.4 per cent respectively, according to new data released by PitchBook in its latest Q1 European Private Equity Breakdown report.
We are yet to see a pandemic related slowdown in the remaining
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