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Leading global law firm Baker McKenzie has hired private equity partner Justin Hutchinson from Kirkland & Ellis, as part of the Firm’s continued efforts to drive growth across its transactional practices and increase the Firm’s bench-strength in London – one of the key centres for further investment alongside New York and China.
Hutchinson is an experienced cross-border transactional lawyer, having acted throughout his career on a broad range of control and minority investments, leveraged buyouts, management equity arrangements and disposals. His client base includes growth equity, large cap private equity and other financial sponsors, such as Bain Capital and Summit
HarbourVest Partners, a global private markets asset manager, has held the final close of its fifth co-investment fund at its hard cap of USD3.0 billion. HarbourVest Partners Co-Investment Fund V, which had an original target of USD2.5 billion, was oversubscribed.
“HarbourVest’s direct co-investment program has established itself as a leader within the private equity space,” says Peter Wilson, Managing Director, HarbourVest Partners. “Our longstanding relationships with proven managers have created access to compelling investment opportunities in partnership with some of the best sponsors in the industry.”
The fund’s strategy is to create a global, diversified portfolio of direct co-investments
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
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