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Funds advised by YFM Equity Partners (YFM) have banked a healthy return multiple of 2.25x within two years of their initial investment in EIKON Group, with YFM retaining a minority investment.In March 2018, YFM initially provided GBP6 million funding to EIKON, a London-based leading provider of digital mastering and localisation services to the international entertainment industry. This funding, from YFM’s British Smaller Companies VCT funds and Growth LP funds, was mostly used to expand the company’s execution capabilities through development of a major new facility in Los Angeles.
EIKON partners with major Hollywood studios and global streaming platforms, offering
Two-thirds (66 per cent) of alternative investment professionals have a good understanding of the benefits of fund finance but cite negative perceptions among LPs as the biggest challenge to its wider adoption, according to a new survey commissioned by Intertrust, a specialist in providing tech-enabled fund and corporate solutions.Of those who are familiar with fund finance, almost half (44 per cent) say they had a good understanding of specific areas, while a further 24 per cent are aware of the fund finance product suite and levels of lender appetite. In contrast, one-in-three (33 per cent) respondents admit to having little or
Aberdeen Standard Investments (ASI) has closed Aberdeen US Private Equity VIII (APE VIII), its eighth US private equity fund. The fundraising, which was completed in less than nine months, exceeded the firm’s USD350 million target and was oversubscribed. APE VIII, which closed on 23 December, will invest in a strategically concentrated portfolio of small-cap private equity funds, direct investments and secondary transactions, with a geographic focus on North America. The strategy is designed to capture outperformance potential of the lower middle market private equity ecosystem.
Scott Reed, co-head of US Private Equity at Aberdeen Standard Investments, says: “Against a backdrop
Rockpool Investments’ portfolio company, Airedale Group has acquired Flowrite Refrigeration Holdings Limited, a business majority owned by Foresight Group.Airedale is the leading UK specialist in the design, installation and servicing of catering equipment in the UK, working across all sectors including retail, hospitality, education and healthcare. Flowrite is the UK’s market leading provider of reactive repair, planned maintenance and installation works for all types of refrigeration and air conditioning systems.
The combination of Flowrite and the existing Airedale service operation creates the largest specialist maintenance platform operating in the UK, with over two hundred service technicians looking after catering equipment.
KPS Capital Partners (KPS) is to purchase the IKG business (IKG) from Harsco Corporation (Harsco) for a total consideration of USD85 million, subject to customary closing adjustments.Upon completion of the transaction, IKG will become the second portfolio company of KPS Special Situations Mid-Cap Fund (KPS Mid-Cap).
IKG is a North American manufacturer of high-quality steel and aluminum bar grating. The Company offers a full range of metal bar grating and fencing products, which are used primarily in industrial flooring, safety and security applications across a wide range of industries. IKG is headquartered in Houston, Texas, with six strategically located manufacturing facilities
Nuveen is bringing its private equity and junior capital group together with Churchill Asset Management, its middle-market senior loan and unitranche financing business, to create a direct access platform with over USD21 billion in committed capital. The combined platform, operating as Churchill, manages over 250 portfolio investments and has more than 150 limited partner investments in leading middle market private equity funds. Collectively, the combined businesses invest over $5 billion annually in over 100 middle market companies, led by highly experienced investment teams.
“The combination of these two highly complementary businesses – backed by the scale, capital and resources of Nuveen
Umbra Capital, a one-year old London-based merchant bank, provided a USD20 million equity portion in a USD270 million funding round in socially responsible capital app Hastee in December.
BGF invested GBP93 million of growth capital into companies based in London and the South East in 2019. Sixteen new businesses were added to the portfolio, and several existing portfolio companies received follow on funding to support further business growth. This brings BGF total in the South East region to GBP586m invested in 115 businesses to date, across early-stage, growth and quoted companies.New investments this year include PredictImmune, a fast-growth developer of pioneering prognostic tools for immune-mediated diseases, direct to consumer menswear brand Spoke and Bf1systems, the market-leading provider of electronic and electrical solutions for the motorsport and automotive industries.
NovaQuest Capital Management (NovaQuest), a healthcare and life sciences focused private investment firm, has closed an investment in InformedDNA, a provider of genetics services. NovaQuest partnered with TripleTree Capital Partners (TTCP) and Frist Cressy Ventures (FCV) to make a meaningful growth capital investment into the company. InformedDNA will use the capital to continue scaling its technology-enabled, genetics expert services, as well as to expand its staff of genetic counsellors. Terms of the private transaction have not been disclosed. InformedDNA will continue to be led by the current management team under the direction of Chief Executive Officer, David Nixon.
“We are
Manulife Investment Management (Manulife) has closed approximately USUSD1.5 billion in commitments to Manulife Private Equity Partners (MPEP). MPEP is the first fund-of-funds product raised by Manulife Investment Management’s Private Markets group as part of its ongoing effort to provide specialszed asset management solutions for global investors.
The Fund was seeded with an existing portfolio of funds and co-investment interests in North American buyout and growth funds invested with more than 25 leading private equity managers. MPEP also includes capacity for new fund investments as well as co-investments to be managed by Manulife Investment Management’s Private Markets Group. MPEP’s fund investment program is
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