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In this week’s newsletter, Paul Bryant finds out from Pantheon vice president Dr Andrea Carnelli Dompé why, when it comes to private equity buyouts, biggest isn’t always best. New research by the firm has revealed that on average, the compounded annual growth rate (CAGR) of Total Value to Paid In (TVPI) for deals below USD500 million is 5 per cent better than for deals above USD500 million…
Other new research this week, from Spanish private capital trade body ASCRI, estimates that the volume of investment in Spain during the first nine months of 2019 reached a record level EUR5.890 million.
And in fundraising news,
Edge Technology Group, a privately-owned, fully-managed IT service provider for financial firms worldwide, has launched CloudSuite, a multi-cloud platform, purpose-built for the alternative investment community.
“CloudSuite is an agile and holistic platform that brings together the best components of the Private and Public Cloud. Having the ability to offer both Private and Public Cloud solutions, enables us to offer a combination of both in a Hybrid Cloud, supporting industry trends and data that a Multi Cloud approach is becoming widely adopted as the new industry standard,” says Tom Woollard, Managing Director, Head of Europe, at Edge Technology Group. “CloudSuite has
TPG Sixth Street Partners (Sixth Street), a global finance and investment business with over USD32 billion in assets under management, has closed the first TSSP Capital Solutions (Capital Solutions) platform fund with USD2.2 billion in third-party capital commitments.
Capital Solutions, which makes non-control investments in growth-oriented companies. is actively investing out of the fund and has already deployed over USD500 million.
The Capital Solutions team partners with companies to provide bespoke, accretive financing solutions that often differ from traditional growth equity. Capital Solutions has flexibility to invest in a range of opportunities from USD25 million to over USD500 million.
Pemberton, a European private credit manager backed by Legal & General Group, has appointed Cary Gibson as Head of Investor Relations.
In the role, Gibson will focus on servicing Pemberton’s existing LPs and supporting business development with strengthening current and building new relationships within the investor community globally. In doing so, she will be supporting the launch of new strategies and new vintages of existing ones.
Gibson joins with significant experience in investor relations, product development and marketing, and possesses over ten years of experience in the financial services industry across traditional and alternative asset classes. She was most
CA Ventures, the USD10.2 billion Chicago-based, vertically integrated real estate investment company, has appointed Giuseppe Zafferri as Managing Director in Italy.
Zafferri joins CA Ventures from Eurotekna Milan, an Italian real estate general partner, where he has spent the last 12 years, most recently as Head of Acquisition, Project & Construction Management. There he worked on joint ventures with companies including JP Morgan and BlackRock.
CA Ventures, which launched its European offering in September, has committed to spending EUR170 per annum in the country, focusing primarily on the cities of Milan, Turin, Bologna and Florence. its offices are in
Macfarlanes has advised London-headquartered secondaries specialist Headway Capital Partners on the raising of its fourth secondaries fund, HIP IV, which has closed after hitting its hard cap of EUR372 million, exceeding its target of EUR300 million.
The fund was oversubscribed, exceeding its target of EUR300m through strong support from a diverse mix of institutional investors globally including pension funds, asset managers, family offices, high-net-worth individuals and endowments. Seeking to invest globally, HIP IV will focus on western Europe and North America, with a maximum investment size of EUR50 million.
The Macfarlanes team was led by investment management partner Alex
King & Spalding has appointed Lawrence Yanowitch, Thomas Knox, Charles Katz, and Jeremy Schropp as partners in its Corporate, Finance and Investments (CFI) practice group.
The team focuses on mergers & acquisitions, emerging companies and venture capital and technology and outsourcing transactions, for a wide range of technology and aerospace, defence government services (ADG) companies and investors. The new team will continue to be based in Northern Virginia and will work closely with colleagues in the Washington DC metro area, New York, California and Atlanta.
“Larry, Tom, Charlie and Jeremy have one of the leading technology and ADG corporate
Private equity fund Trilantic Capital Partners IV Europe (Trilantic Europe), via its subsidiary TCP Lux Eurinvest (Eurinvest) is to sell 8.6 million shares (equal to 28.67 per cent of the share capital) of Gamenet Group, a operator in the Italian sports betting and gaming sector, to a company formed on behalf of funds managed by Apollo Management IX (Apollo).
The agreed price is equal to EUR12.5 per share. Completion is subject to, inter alia, Antitrust and Agenzia delle Dogane e dei Monopoli clearances and is expected to occur by year end 2019. Upon completion, the buyer will be required to
Investec Investment Banking & Securities (Investec) has made two new hires in its Industrials equity research team, following the appointment of Ben Bourne in September 2018.
Scott Cagehin has joined from HSBC and will cover UK Electrical and Mechanical Engineers. He previously covered the sector at Numis, having begun his career at Merrill Lynch in 2000.
Rory Smith joins from RBC’s Pan-European Industrials research team to cover UK Aerospace & Defence and Industrials. Previously, he followed the sector at Liberum.
Ben Bourne, who leads the team, says: “The Investec Industrials team is thriving. Scott and Rory will provide
Foresight Group LLP (Foresight) has made its thirteenth investment from the Foresight Williams Technology EIS Fund into Sheffield-based, Additive Manufacturing Technologies Limited (AMT), a developer of industrial additive manufacturing (3D printing).
The investment is part of a GBP4.2 million round led by DSM Venturing.
AMT was founded in 2017 by Joseph Crabtree, who serves as CEO of the company. It was set up with the aim of developing industrial technologies to enable the deployment of 3D printing for mass production and address the shortcomings of existing post-process technologies. AMT’s first product, PostPro£D, is based on the boundary layer automated
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