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Macfarlanes has advised Muzinich & Co, the corporate credit management specialist, on a leverage facility for its first European Long-Term Investment Fund (ELTIF), Muzinich Firstlight Middle Market ELTIF.
This fund invests mostly in syndicated loans and private debt instruments, and may also invest in bonds and junior investment opportunities. As an ELTIF, it is only able to leverage certain types of investment and is subject to both a 30 per cent borrowing restriction and a 30 per cent encumbrance restriction. This has led to the need to create a bespoke but flexible financing structure. It is one of the first
JP Morgan Asset Management has appointed Meg McClellan as Head of Private Credit in the firm’s Global Alternatives group, effective 1 January, 2020, to lead the firm’s major expansion in Private Credit.
In the newly-created role, McClellan will oversee the firm’s Global Special Situations, Infrastructure Debt and Commercial Mortgage Loan businesses and lead the firm’s development of new private credit solutions. She will be responsible for private credit platform growth, both organic and inorganic. McClellan currently serves as JP Morgan Asset Management’s Chief Financial Officer.
With USD146 billion in alternative assets under management, JP Morgan Asset Management has built one
Kevin Boscher, chief investment officer at Guernsey based investment services group Ravenscroft, provides his view on what a majority Conservative Government means…
We now know that the forecasters and markets were right to predict that a majority Conservative government would be elected to drive policy forward for the next few years. In our view, this result will likely mark the beginning of a new phase for the UK economy and sterling assets, determining not only the Brexit outcome but also the end of austerity and the start of a new fiscal expansion. This will have a significant impact on economic growth
Middle market private equity firm One Equity Partners (OEP) has made a significant minority investment in Nexion, an automotive solutions business, focused on garage equipment, diagnostics, and advanced driver assistance systems (ADAS) aftermarket solutions.
Financial terms of the private transaction have not been disclosed.
Founded in 1954 and headquartered in Correggio, Italy, Nexion manages a portfolio of historic brands, including Corghi, Sice, Hpa-Faip, Mondolfo Ferro, Teco, Tecnomotor, Orlandini, Bright, Stenhoj, Sherpa, Autopstenhoj. The Company specializes in tire changers, wheel balancers, aligners, lifts, diagnostics, and ADAS solutions. Nexion has approximately 2,000 employees and 14 manufacturing and design facilities in Italy, Denmark,
SIS Ventures, Scotland’s leading ‘profit with purpose’ fund, has appointed a new Chair.
David Ovens, Chief Operating Officer at Archangels and current Vice Chair of SIS Ventures, takes over as Chair from Bill Crossan with immediate effect. Bill will remain a member of the Board to support the next phase of growth.
In Ovens’ role at Archangels, he is responsible for the day-to-day management of the business, with additional responsibility for a number of the portfolio companies. An experienced corporate financier, David has previously held roles with Samuel Montagu & Company Limited, Noble Grossart Limited and Noble & Company
Great Point Media (Great Point), a London-based media and investment group and US institutional fund manager MC Credit Partners (MCCP), have partnered to finance film and television programming globally.
Funds managed by MCCP will invest up to USD100 million in the partnership and Great Point has already committed a minimum of USD80 million. It represents the first institutional investment for Great Point’s global project finance fund and will be used to finance larger-scale media projects.
Commenting on the investment, Robert Halmi, Chairman of Great Point Media, says: “Since 2013, Great Point Media has produced, financed and distributed more than USD600m
Waracle, one of the UK’s largest mobile apps and digital products developers, has received a GBP4.8 million investment from BGF, the UK and Ireland’s most active investor in growing businesses, to support its long-term growth plans.
Waracle designs, develops and manages mobile apps and other digital products, working with some of the UK’s largest businesses across sectors including fintech, digital health and energy. Waracle continues to develop industry-leading digital solutions across the full mobile app development spectrum, including mobile, IoT, and Extended Reality (AR and VR).
Founded in Dundee in 2007, the business has since scaled across Scotland with 140
Nuvei, a global payment technology provider, has completed a USD270 million (CAD358 million) common equity financing, valuing the company at USD2 billion (CAD2.65 billion).
The investment comes primarily from Nuvei’s existing shareholders: leading Canadian private equity firm Novacap, supported by some of its key limited partners, and Caisse de dépôt et placement du Québec (CDPQ), one of the largest Canadian institutional investors. This financing allows Nuvei to further bolster both its organic and acquisition growth plans.
Headquartered in Montreal, Quebec and having offices across the globe, Nuvei delivers omnichannel, end-to-end payment acceptance solutions, streamlined payouts, foreign exchange services, local acquiring,
The CapStreet Group (CapStreet), a Houston, Texas based private equity firm that invests in privately held, lower middle-market companies, has held the final closing of CapStreet V, at its hard cap, with total commitments of USD500 million.
CapStreet V exceeded its original target of USD400 million with commitments from a diverse group of existing and new investors.
“We were pleased with the strong support that we received from our existing base of limited partners, and we were also fortunate to be able to expand this investor base by adding a select group of new limited partners to CapStreet V,” says
Behrman Capital, a private equity investment firm based in New York and San Francisco, has appointed Simon P Lonergan as Managing Partner.
Lonergan joins Grant G Behrman and William M. Matthes as the firm’s Managing Partners.
“Since 2005, Simon has been an invaluable partner of our firm, consistently demonstrating his deep investment expertise, insightful industry experience and outstanding leadership skills,” says Behrman. “We are very pleased to recognise Simon’s extensive contributions to Behrman Capital and our portfolio with this well-earned promotion.”
onergan has played an integral role in leading the firm’s investments in the defence and aerospace and
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