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Sunstone Management, a diversified capital management and investment firm based in Long Beach, California, has launched a new fund to facilitate the growth of startups participating in the Long Beach Accelerator program.
The fund, designated LBA Sunstone Fund I, will offer investors an opportunity to aid exciting early-stage companies while also generating attractive returns on investment.
The Long Beach Accelerator program, the first of its kind in the City of Long Beach, is a public-private partnership between Sunstone Management, the City of Long Beach and California State University Long Beach. Expected to welcome its first cohort this fall, the accelerator
ClearCourse Partnership (ClearCourse), a group of technology companies providing software, services and digital capabilities to the membership, events & bookings and sports & leisure sectors, has acquired e-clinic, a patient and clinic management software provider.
The deal is ClearCourse’s 13th since its foundation in October 2018 and represents an expansion of Partnership’s product offering into the healthcare industry.
e-clinic was founded in 2002 and continues to operate from its headquarters in Shipley, West Yorkshire, where it employs seven people. Its intuitive proprietary cloud-based software package, ‘e-clinic 2’ is used by clients around the world, from small private medical practices to
New research from insurance broker and risk adviser Marsh has found that warranty and indemnity (W&I) claims notifications across Europe, the Middle East and Africa (EMEA) have increased significantly since 2016.
Rising claims notifications – up 293 per cent from 2016 to 2018 – correlate with increasing demand for W&I insurance by buyers and sellers to protect M&A deals.
Released today, the Transactional Risk Insurance Claims Study draws on Marsh JLT Specialty’s claims data between 2009 and 2019, and details 175 loss notifications across 24 countries in EMEA. It charts the growth of W&I insurance over the last decade
Novasec has launched a new investment platform, which connects investors with unique opportunities in the fast-growing renewable energy sector.
Through a careful project selection process, Novasec’s platform combines the renewable energy sector with digital securities, providing investors the potential for lower-risk, competitive returns.
“Novasec is proud to help fund the future of the energy industry, offering accredited investors access to attractive renewables opportunities,” says Michael Tishler, CEO and Co-Founder. “Our team of professionals brings together experience from across the financial services, private equity and renewable energy industries, which has allowed us to build a unique end-to-end platform that will benefit
An affiliate of Saroras Private Capital (Saroras), a private equity investment firm focused on the technology-enabled services industry, has made a majority investment into InCrowd, a specialist in real-time data market insights in the life sciences industry.
The Saroras team has significant experience investing in and building industry-leading companies in the data-driven insights and other growth-oriented industries.
In conjunction with the investment, Daniel S Fitzgerald, has been named chief executive officer & president of InCrowd. Fitzgerald has over 25 years of proven management and operating experience in the insights and data services industry and was most recently a senior executive
Outsourced Chief Investment Officer (OCIO) specialist Hirtle Callaghan has appointed Stephen Vaccaro as Director of Private Equity.
Vaccaro is an accomplished investment professional with more than 15 years of experience in endowment management and consulting, including the University of Pennsylvania, Princeton University, and BCG.
Vaccaro is working closely with Hirtle Callaghan’s investment team to oversee private equity investment efforts on behalf of the firm’s family, endowment, foundation, healthcare, and pension clients. He reports to Dan McCollum, Deputy Chief Investment Officer, who leads the firm’s manager selection and is himself an endowment veteran, having joined Hirtle Callaghan from Brown University.
Graphite Capital, a UK mid-market private equity specialist, has backed the management buy-out of Hanson Wade, a conference organiser and provider of information services, focused primarily on the pharmaceutical and biotech industries.
Hanson Wade’s management team is led by Tom Richardson, who has overseen a period of rapid expansion since being appointed chief executive in 2015. Between 2016 and 2018, the company’s portfolio of events almost doubled to 108 and its revenues increased by 117 per cent to GBP22.6 million.
Hanson Wade is based in London, but generates the overwhelming majority of its revenues in the United States, where
Independent fund servicing provider Ultimus Fund Solutions (Ultimus) has appointed Nickolaus Darsch as Senior Vice President of Business Development.
In this role, Darsch will be responsible for building and strengthening strategic relationships with investment managers that can benefit from the Ultimus offering.
Darsch will focus on aligning the Ultimus suite of services to meet the needs of registered fund sponsors, primarily in the range of USD5 billion and USD50 billion in assets under management. In addition, he will help Ultimus further cultivate its relationships with the community of consultants, audit and legal firms, and other centers of influence that work
Equistone Partners Europe (Equistone) is to acquire a majority stake in Omnicare, a pharmaceutical wholesaler operating throughout Germany, that primarily distributes finished medicinal products to compounding pharmacies for the patient-specific production of cancer drugs.
Omnicare is being bought from a consortium of shareholders which will retain a stake in the company. The existing management team, led by Managing Director, Oliver Tamimi, will continue to run the company following the deal. The financial terms of the transaction are undisclosed and the acquisition remains subject to clearance from the relevant competition authorities. The transaction is expected to be complete in Q4 2019.
A survey conducted on preparation for the FCA’s Senior Managers and Certification Regime, (SM&CR) has revealed that most firms have significant work to do, as they prepare for its extension to all authorised firms on 9 December.
From a pool of over 70 respondents, including asset managers, hedge funds, private equity firms, broker-dealers and wealth managers, the findings were as follows:
• Less than 2 per cent of firms confirmed they had completed sufficient preparation for SM&CR
• In equal measure, only 2 per cent of employees had a sufficient awareness of the new rules and their implications across the organisation
• More than a quarter
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