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A group of investors led by Bernhard Capital Partners Management, LP (Bernhard Capital), has acquired Ascension Wastewater Treatment (AWT), the largest private sewer utility operator in Louisiana.Immediately following the acquisition, Bernhard Capital announced it is committing to a two-month rebate for all AWT customers to assist them in navigating the challenges and economic hardships of the Covid-19 pandemic. This represents an average rebate of USD90 per customer over the two-month billing cycle. In total, it will credit approximately USD1.5 million to AWT customers. Additionally, Bernhard Capital is donating thousands of protective face masks to Our Lady of the Lake Ascension
Investcorp Technology Partners, a European technology investor, has agreed to acquire Avira Holding (Avira) for USD180 million.Avira is a German headquartered, multinational cybersecurity software solutions firm serving the OEM (Original Equipment Manufacturer) and Consumer end markets, with over 500 million endpoints protected globally. Over its 30+ year history, the Company has developed particular strengths in Anti-Malware, Threat Intelligence and IoT solutions. Its software provides next generation security for users’ online identity, finances, and private data, protecting against viruses, malware, ransomware and other threats.
This acquisition represents the first institutional investment in Avira since it was founded in 1986 by
The number of carve-out acquisitions is expected to rise as businesses look to restructure following the Covid-19 crisis.
New research has revealed that around a fifth of carve-outs result in millions of dollars wasted because of inefficiencies, however. A survey, commissioned by TMF Group, found that 34 per cent of senior executives from private equity firms with buy-side experience said their most recent cross-border carve-out failed to deliver on expectations, with 24 per cent saying costly overruns impacted the deal.
Where a delay resulted in increased cost, a majority of those from private equity firms (92 per cent) said it
O’Melveny has added C Todd Boes, a private equity lawyer with strong M&A experience, as a corporate partner based in the firm’s San Francisco office.Boes’ arrival delivers on a key firm priority: adding to O’Melveny’s roster of exceptional California private equity partners. He comes to O’Melveny from the Private Equity Transactions group of an AmLaw 50 firm in San Francisco. Boes has a long history of advising major California- and other US-based private equity sponsors, and his clients include some of the biggest names in the space.
Boes’ private equity practice emphasises mergers and acquisitions, leveraged buyouts, and other direct
StepStone Group (StepStone) has held the final closing of its secondary private equity fund, StepStone Secondary Opportunities Fund IV (SSOF IV), raising USD2.1 billion of commitments. The fund surpassed its original target of USD1.25 billion. Together with capital from separately managed accounts, StepStone has raised over USD2.4 billion for its differentiated secondary private equity strategy.
Limited partners in the fund consist of both existing and new investors from around the world, including sovereign wealth funds, public and corporate pension plans, insurance companies, endowments and foundations, family offices, and financial services and advisory firms.
SSOF IV’s investment strategy focuses on the
Eurazeo is creating a EUR10 million solidarity fund to buy and donate products from its investee companies to support communities affected by Covid-19, with the support of its shareholders.
The fund will be financed from Eurazeo’s cash holdings and by donations from the supervisory board, the executive board and the executive committee members.
The executive board members have decided to take part by contributing 10 per cent of their annual bonuses for 2019, payable in April 2020, to the solidarity plan.
The Paris-headquartered firm also said that “given the unprecedented uncertainty around the world and in line with the French
Milltrust International Group has launched The Climate Impact Asia Fund in collaboration with Environmental Investment Services Asia Limited and WWF Hong Kong.
The fund, targeting a size of USD 500 million, will invest in Asian-listed companies making a positive impact with regards to climate change.
The target companies are focused on delivering sustainable long-term returns which provide a positive impact through renewable energy, environmental services, water treatment and distribution, low-carbon transportation and energy management services.
The Asia-Pacific region is responsible for almost half of global carbon dioxide emissions, and is also the region most exposed to climate risks. The region
Mark Porter has been appointed as the new as Chief Executive Officer (CEO) at global professional services provider Equiom.Read the full story at Wealth Adviser…
Qiming Venture Partners has closed Qiming Venture Partners Fund VII, a new USD1.1 billion fund focused on early stage Healthcare and TMT investments.Qiming has again secured support from its long-term LP base in Fund VII as well as attracting several new LPs. As in prior funds, the vast majority of Qiming’s capital comes from a prestigious group of endowments, foundations, family offices, and private pensions.
Fund VII is led by Managing Partners Duane Kuang, Nisa Leung, William Hu, and Gary Rieschel, with investment and administrative teams based in Shanghai, Beijing, Shenzhen, and Hong Kong. Qiming anticipates investing Fund VII in domain
Barclays has appointed Khaled Habayeb as a Managing Director in Healthcare Equity Capital Markets (ECM). Habayeb will be based in New York, and will report to Taylor Wright and Kristin DeClark, Co-Heads of ECM Americas at Barclays. He will partner with Joe Lombardo in leading the further development and execution of the firm’s Healthcare ECM business strategy.
Habayeb joins Barclays with over seventeen years of experience in banking, most recently as a Managing Director in the Global Healthcare Group at Deutsche Bank, where he led biotechnology sector coverage across therapeutic areas and genomics sub-sectors. Prior to joining Deutsche Bank in late
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