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Real estate technology company Blueground has closed a USD50 million (GBP40 million) Series B round and expanded of its global footprint by launching in London.
The round was co-led by two prominent investment firms: Prime Ventures and WestCap Investment Partners. WestCap’s founding partner, Laurence Tosi, is an experienced investor and operator, who served as the long-time CFO of private equity firm Blackstone, and subsequently, as the CFO of Airbnb, the leading home-sharing marketplace.
Blueground envisions a world in which people feel at home wherever they choose to live, through their offering of beautifully designed, tech-powered flats for stays starting from
Broadstone, one of the UK’s leading employee benefits and pensions consulting businesses, has acquired Bristol-based BBS Consultants and Actuaries.
This is Broadstone’s fourth and largest acquisition in 2019 following the purchases of Liverpool-based CS Financial Solutions, Thomson Dickson Consulting in Glasgow and the London-based 3HR Benefits Consultancy.
Founded in 1997, BBS has established itself as a technology-led, highly respected specialist firm of workplace pensions consultants, actuaries, investment advisers and administrators. With some 250 clients, BBS is a significant player in the South West and is focussed on providing high quality pensions solutions to both trustees and employers.
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ARQIS has advised SkyFive on the acquisition of the core assets of the Air-to-Ground (A2G) business division from Nokia. Both parties have agreed not to disclose the purchase price.
Nokia’s A2G technology is designed to provide broadband telecom connectivity for continental air travel and has significant technology and cost advantages over today’s satellite telecom solutions. The acquired assets make SkyFive the world’s first A2G communications specialist. SkyFive assumes responsibility for the end-to-end solution, which comprises avionics, telecommunications and IT systems. Nokia remains responsible for the sale and implementation of the backbone network – an integral part of the solution –
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
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