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Ares Management Corporation has appointed Michael Schechter as Partner and Head of Credit Trading.
Based in Los Angeles, Schechter will oversee the trading of all bank loans, high yield and related credit instruments in the US and Europe. In this new position, Schechter will work with Ares’ existing senior trading professionals, portfolio managers and management to set and execute Ares’ trading agenda.
“We are pleased to welcome Michael to Ares in his new position as the leader of our Credit Group’s trading team,” says Kipp deVeer, Partner and Head of the Ares Credit Group. “Michael brings extensive knowledge and deep
Prescient Fund Services (Ireland) Limited, an independent provider of globally competitive and flexible outsourced management company, platform and fund administration services, has converted two of its fund platforms from PLCs (Public Limited Companies) to ICAVs (Irish Collective Asset-management Vehicles).
Prescient supports investment managers of Irish regulated and other traditional and alternative funds by providing the infrastructure and performing the key control functions that are required to help them to grow their businesses and meet their regulatory obligations.
The two umbrella platforms, one regulated as a UCITS and one regulated as a QIAIF (Qualified Investor Alternative Investment Fund), enable international investment
Janney Montgomery Scott, a full-service wealth management, capital markets, and asset management firm, is to utilise iCapital Network’s platform technology in a white-label solution to enhance the alternative investment capabilities on its platform.
Through the partnership, Janney’s Financial Advisors gain access to iCapital’s curated online menu of private equity and hedge fund offerings with the ability to seamlessly incorporate these investments into client portfolios. Within the fund menu, the iCapital Research and Due Diligence Team provides a high-quality array of diverse alternative investment offerings to help achieve desired client outcomes of growth, income, and portfolio diversification. iCapital will also offer
The Maples Group, a global service provider offering clients a comprehensive range of legal, fiduciary, fund, regulatory and compliance, and entity formation and management services, has recently appointed its thousandth member of staff.
Alasdair Robertson, Global Managing Partner of Maples and Calder, the Group’s law firm, says: “2019 has certainly been a memorable year for us. In addition to reaching this milestone, opening our Shanghai and Jersey offices following the successful launch of our Luxembourg legal practice, we also rolled out a complex rebrand.”
In January 2019, Maples and Calder and MaplesFS consolidated their offerings under a single brand, now
CEPRES’ latest analysis shows the Pricing multiples for the top 25 per cent deals in North America, are rising at a much faster pace compared to the rest of the market.
In contrast to the North American market, European pricing shows a tighter spread among the quartiles which suggests that it is even more difficult for GPs to source and invest in opportunities that are particularly cheaper compared to the rest of the market.
Consequently, this means there is less room for returns driven by multiple expansion compared to North America with a broader spread of pricing multiples giving GPs a
Funds advised by YFM Equity Partners (YFM), a specialist private equity fund manager, have backed a GBP4.5 million investment into SharpCloud Software Limited (SharpCloud).
YFM’s investment comes from its two advised VCTs, British Smaller Companies VCT plc and British Smaller Companies VCT2 plc, alongside YFM Equity Partners Growth II LP.
SharpCloud was founded in 2012 by Sarim Khan and Rusty Johnson, following the successful sale of their previous software business to Oracle Primavera. Having spent some time within the Business Intelligence (‘BI’) and data analytics space, they noted a lack of powerful top-down software tools that could allow large organisations
True Nature Holding is forming a new Irish corporate entity, Mitesco PLC, to act as a holding company for its European based acquisitions.
The new name, which is Latin for “progress”, reflects the company’s strategy of acquiring healthcare technology solutions companies, generally, those that are early stage, but past proof of concept, and with revenues in the USD2 million to USD20 million range. It expects that the new operations will progress: by growing their market presence geographically in new markets, including the North American markets. The new entity will be based in Dublin, Ireland.
Separately, it announced that it has
Property agency Linley & Simpson has expanded into Humberside for the first time with the acquisition of the lettings arm of another agency, Beercocks in Hull.
The acquisition – completed for an undisclosed sum – is the ninth to take place since Linley & Simpson secured the backing of UK private equity investor LDC in June 2018 to accelerate its growth plans.
Linley & Simpson now operates 17 branches across North and West Yorkshire and this latest acquisition has transferred almost 500 properties into Linley & Simpson’s own rental portfolio, which today stands at 8,700 homes.
“While Linley & Simpson may
High Road Capital Partners (www.highroadcap.com) has sold its portfolio company Banner Solutions (www.bannersolutions.com) to Tailwind Capital. The sale, which closed on 31 October, 2019, marks the second exit for High Road Capital Partners Fund II.
Kansas City, Missouri-based Banner Solutions is a wholesale distributor of door hardware, electronic access control, and security products primarily for repair, replacement, and renovation applications in the commercial/institutional and residential markets.
High Road acquired Banner, formerly known as Midwest Wholesale Hardware, in February 2017. During High Road’s ownership, the company completed four acquisitions, and revenue and EBITDA more than tripled.
“Our successful investment
The cybersecurity sector’s largest ever deal, Broadcom’s landmark acquisition of Symantec for USD10.7 billion, set the tone for an uptick in transaction volume and continuously strong valuations, according to Hampleton Partners’ latest analysis of global cybersecurity mergers & acquisitions activity.
Hampleton’s Cybersecurity M&A report highlights the popularity of cybersecurity vendors as all industries seek protection from cyber-attacks.
Cybersecurity transaction volume rose by 15 per cent in the second-half of 2019 compared to that of 2H2017. Valuations have also remained healthy, with EV/S multiples consistently trading around 5x for the past four years – significantly above the 3x valuations seen
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