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UBS Asset Management’s (UBS-AM) Real Estate & Private Markets (REPM), in separate transactions undertaken on behalf of clients, has disposed of two properties for a combined total of GBP77 million.
The properties are at 21 Wilson Street, EC2M, and 158-164 Bishopsgate, EC2M, in the City of London.
21 Wilson Street, which was purchased by a private investor, was acquired by REPM in 2013 as part of a sale and leaseback transaction. The single-let office building comprises a total of 38,565 sq ft of space over basement, ground and five office floors leased to Arbuthnot Latham & Co Ltd.
Tantalum, a specialist in connected car software and payments, has sold Tracker, its UK stolen vehicle recovery business, to CalAmp. The sale follows swiftly on Tantalum’s acquisition of Springworks, a Stockholm-based connected car software house.
The sale of Tracker and Tantalum’s restructuring enables the enlarged group to deliver global connected car software and payments opportunities with its partners, such as its current rollout with AT&T across the US, with Telia in Scandinavia, and with Swisscom and AMAG across Switzerland.
Tantalum is building out the infrastructure to connect vehicles and their users to a global ecosystem. This ‘connectivity to payment’
Souter Investments has invested in the fintech interest-free-only credit provider, DivideBuy. The investment from Souter Investments and Jon Moulton through his family office Perscitus, alongside debt funding from Shawbrook Bank and Paragon Bank, will enable DivideBuy to grow further and offer many more UK retailers access to its market leading technology.
DivideBuy allows retailers to provide interest free credit as a purchasing option for their customers. The company has built its own market leading technology which it uses to underwrite 100 per cent of their own lending which gives full control and complete transparency to retailer partners and consumers.
The technology
Noerr has advised CEMEX, one of the world’s leading building materials companies, on the sale of its activities in Scandinavia and the Baltic states to Schwenk, a building materials group headquartered in Ulm, Germany in a EUR340 million deal.
In Latvia, Schwenk is taking over, a cement production plant with a production capacity of around 1.7 million tonnes, several quarries and ready-mixed concrete plants as well as a marine terminal. The sale also includes CEMEX’s export business to Estonia and an indirect equity interest of CEMEX in a cement plant in Lithuania with a production capacity of around 1.8 million
Morgan Lewis has advised MPM Capital, a life-sciences venture capital firm investing in early-stage therapeutics companies based in Cambridge, MA, and Brisbane, CA, on the closing of its seventh venture fund, BioVentures 2018 (BV2018).
MPM is currently investing out of BV2018 and its two oncology-only funds with a total of more than USD1 billion in capital.
With BV2018, MPM will continue to create and invest in innovative companies developing breakthrough therapies to treat severe unmet medical needs. The fund will focus on disruptive scientific developments across multiple therapeutic areas, including oncology, immunology, and neuroscience as well as emerging modalities
Lazard has appointed Suresh Vasan as a Managing Director in the firm’s Private Capital Advisory’s Private Capital Solutions Group, effective immediately. He is based in Houston.
“Suresh brings over two decades of experience in global principal investing in the energy industry,” says Holcombe Green, Managing Director and Global Head of Secondary Advisory, Lazard. “He will be a valuable addition to our team as the secondary and direct private placement market continues to grow in size and scope.”
Previously, Vasan served more than 11 years with GE Energy Financial Services, where he was most recently a Managing Director leading midstream
AnaCap-backed heidelpay Group, a fintech service provider in Germany, has acquired point-of-sale specialist Alpha-Cash Payment GmbH.
The purchase of Alpha-Cash Payment is heidelpay Group’s second investment in 2019 following the acquisition of PayLater and collection specialist Universum Group back in late January.
Alpha-Cash Payment GmbH is now the third company within the heidelpay Group allowing cashless payments to be transacted at the point of sale (PoS). The group acquired Hamburg-based StarTec Payment & Service back in October 2017, followed in May 2018 by the purchase of Avanti Technology Graf GmbH, the leading commercial network provider in the Munich region.
Kainos Capital, a food and consumer-focussed private equity firm, has appointed Rob Ruegger as a Managing Director. Ruegger most recently served as Chief Operating Officer of Gehl Foods, where he was responsible for all aspects of manufacturing and supply chain.
Ruegger brings to the Kainos team over 30 years of extensive experience in financial and general management in the food and consumer goods industries.
Andrew Rosen, Managing Partner of Kainos, says: “We are excited to have Rob join our organisation as a valuable member of the Kainos Operations Team, which works closely in partnership with our portfolio company management
Ipsum Group (Ipsum), backed by Aliter Capital (Aliter), has completed its third bolt-on acquisition – the Scotland, North of England and Midlands-based operations of utilities and infrastructure maintenance, inspection and repair services provider EEG.
The deal excludes EEG’s Andover-based South of England operations.
EEG has a network of strategically located depots, delivering a range of services to the UK utility, facilities management and infrastructure sectors, including drainage maintenance and repair, civil engineering, asset mapping and flood prevention. The investment in EEG will strengthen Ipsum’s existing drainage maintenance services and fleet of specialist vehicles, broaden its geographic footprint and add
Genstar Capital, a private equity firm focussed on investments in targeted segments of the financial services, software, industrial technology, and healthcare industries, has held the final closing of Genstar Capital Partners IX with USD5.5 billion in limited partner commitments.
In addition, Genstar has raised committed overage capacity of USD1.1 billion from select limited partners. The General Partner and affiliated entities are the largest investor in Fund IX, with over USD400 million of committed capital. Total capital raised, including Fund IX, the General Partner, affiliated entities, and the overage capacity is approximately USD7 billion.
The General Partner will continue to be
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