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Fully realised buyout funds, regardless of their size, show a consistent picture – the longer the exposure, the lower the multiple achieved.
That’s according to the latest data released by eFront, a financial software and solutions provider dedicated to alternative investments.
For US small and mid-market buyout funds, those with the minimum time-to-liquidity see returns of 2.64x (TVPI), while those with the longest holds return just 1.3x. For large and mega-buyout funds the figures are 1.95x and 1.35x respectively.
The pattern is very similar for European buyout funds. Small and mid-market vehicles with the shortest time-to-liquidity return 2.36x, while those
Alantra, an independent global mid-market investment banking and asset management firm, has advised international technology group RUAG on the sale of its UK cybersecurity software business Clearswift, to US-based HelpSystems. The value of the transaction has not been disclosed.
Alantra’s UK and Swiss offices worked in collaboration on the deal advising Swiss-based RUAG which Alantra has had an existing relationship with for over a decade. The cross-border nature of the sale to a US trade buyer demonstrates the strength of Alantra’s international reach and its specialist expertise in the cybersecurity sub-sector. Cybersecurity M&A activity levels remain high and Clearswift has
ARQIS has advised Aon Group (Aon) on the acquisition of TRIUM Insurance Broker and its subsidiaries (TRIUM), an insurance broker specialising in risk management in the real estate sector. The transaction is subject to customary closing conditions.
The parties have agreed not to disclose the purchase price.
The merger will enable Aon to expand its market position in the fast-growing real estate sector. Kai-Frank Büchter, CEO of the primary insurance broker at Aon in Germany, says: “The merger means new competencies for both sides: On the one hand there is an agile, owner-managed specialty broker and on the other
IK Investment Partners’ (IK) IK VIII Fund has reached an agreement to acquire Ondal Holding (Ondal), a leading Original Design Manufacturer (ODM) of medical pendant systems used mainly in operating rooms and intensive care units, from funds advised by Capvis.
Founded in 1945, Ondal has become the global #1 provider of medical pendant systems. With its innovative and broad product portfolio applied in settings such as operating rooms, intensive care units as well as diagnostic and imaging rooms, Ondal sets the global quality standard for medical pendant systems in terms of reliability, functionality and usability. Products manufactured by Ondal are
The first half of 2019 registered the largest ever transaction in HRtech history, when private equity firm Hellman & Friedman acquired Ultimate Software Group in May for USD11 billion.
Hampleton Partners’ latest analysis of global HRtech mergers & acquisitions activity shows that this is indicative of overall momentum in the sector, which also registered a spike in transaction volume with 66 recorded transactions and higher revenue multiples at 3.4x in 2H 2019.
Strategic acquirers were also active, including Salesforce, which recently acquired field service management ClickSoftware for USD1.4 billion.
Axel Brill, director, Hampleton Partners, says: “2019 has been a
Mercia Asset Management (Mercia) is to acquire the management of the three Northern Venture Capital Trusts (VCTs); Northern Venture Trust PLC, Northern 2 VCT PLC and Northern 3 VCT PLC, from NVM Private Equity LLP (NVM).
This will fulfil Mercia’s ambition to become the leading provider of complete, connected capital to regional SMEs. The deal will significantly increase Mercia’s Assets under Management (AuM) by c50 per cent to cGBP0.8billion. This will ensure that regional businesses will have even greater access to Mercia’s significantly enhanced investment capability and support during 2020 and beyond.
Partly funded by Mercia’s GBP30.0million Placing, which was
The Dutch company Xenikos, which develops innovative immunotherapies for treating patients with severe immune disease and post-transplant rejection, has appointed Stanley Musial, CPA, MBA as their new Chief Financial Officer and Chief Business Officer.
“We are very pleased to welcome Stan to Xenikos,” says Dr Ypke van Oosterhout, Xenikos’ Chief Executive Officer. “He joins us at an important time, as we are currently entering the final stage of clinical testing prior to applying for market approval of our flagship product, T-Guard, and as we determine the financial and organisational steps needed to ensure a successful launch of the product. Stan
Vin Lingathoti has joined Cambridge Innovation Capital as a Partner to focus on enterprise software.
Vin is a software engineer by training and has held roles across multiple functions including engineering, product management, corporate strategy, private equity and corporate development.
Most recently he was Regional Head of Venture Investments and Acquisitions at Cisco Europe, where he led multiple direct and fund-of-fund investments and played a vital role in helping Cisco’s executive leadership team develop its European investment strategy.
Lingathoti says: ‘The Cambridge cluster, also known as Silicon Fen, has many similarities to Silicon Valley. The University of Cambridge produces some
Quorso, a platform for managing business performance improvement, has closed a USD5.2 million Series A funding round, led by OMERS Ventures and joined by existing investor Hambro Perks.
Quorso will use the fundraising to accelerate its global commercial expansion. The Quorso platform makes performance improvement effortless; by surfacing insights, taking action, measuring impact and scaling success — all in a single tool. Harry Briggs, managing partner at OMERS Ventures, will join Quorso’s board of directors.
“Every business in the world is focused on improving performance. And as data gets richer and more accessible, there is no shortage of smart insights.
It is becoming increasingly clear that private equity investors are training their sights on how GPs think about ESG issues. The degree to which they engage on the topic, and their approach to influencing portfolio companies, is now firmly entrenched in manager selection and it is a trend that is not likely to reverse anytime soon.
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