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Metropolitan Partners Group Management (Metropolitan), a direct-lending firm that provide senior-secured, short-term capital to small and mid-sized businesses in the US, has raised USD172 million, including co-investment rights, for its fifth and largest direct lending – Metropolitan Partners Fund V.
Fund V invests in US non-sponsored companies in the lower middle market with revenues under USD100 million that have not yet received institutional investor capital, are going through a period of growth and require additional capital in order to achieve scale.
“We are pleased to welcome new investors to Fund V and are thankful for the opportunity to continue
A consortium of growth-oriented private equity investors led by CX Partners Fund 2 Limited has acquired a significant equity ownership in Veeda Clinical Research Private Limited.
The investors will make additional investments in the company over a period of time to fund the growth requirements of the company.
The Board of Directors of the company will be reconstituted to have representatives from the incoming investors. Apurva Shah and Binoy Gardi, the promoters, will continue on the Board of the company and lead the management team.
Veeda is the largest independent Clinical Research Organisation in India established in 2004
OnliFunds, a global venture fund, has launched its first investment fund focussed on blockchain companies within Protect Pharmaceutical’s OnliChain Ecosystem.
PRTT has announced that the fund launch will be this week. The fund will be led by its joint venture partners AES, Inc and OnliFunds LLC headquartered in Utah. AES/OnliFunds will be a USD250 million fund, which would make it one of the region’s largest funds of its kind, and is supported by ViolaLux, a 5 billion asset-backed Luxembourg-based fund.
Erick Mosteller will lead the fund for AES/OnliFund LLC. Mosteller has spent the last five years working very closely
Adams Street Partners, a private markets investment management firm with USD35 billion of assets under management, has provided a senior secured term loan and a revolving credit facility to Permira, the global private equity firm, for its acquisition of Jayhawk Fine Chemicals (Jayhawk).
Adams Street served as sole lead arranger and administrative agent for the transaction.
Jayhawk, based in Galena, Kansas, is one of the leading fine chemicals companies in the US. The company is a custom manufacturer of specialty chemicals used in various end markets, including pharmaceutical, animal health, agriculture, and consumer electronics. It provides outsourced manufacturing solutions
Larger private equity LPs receive more information from GPs, according to new global survey of private equity reporting practices carried out by eFront. The survey also reveals that best practice in PE reporting is correlated with better performing funds.
‘Mind the Gap: a global survey of private equity reporting practices’ covers almost 1,800 active alternative investment funds, and provides insight yet into the state of private market investor reporting.
According to eFront’s data, as we move from the low to high performing funds, the funds become more likely to conform to standardised reporting template requests and the difference in
Funding Circle UK, a small business loans platform, and Waterfall Asset Management (Waterfall), an institutional asset manager focussed on structured credit, have entered into a strategic partnership to support the growth of UK small businesses.
Under the terms of the agreement, Waterfall will invest in GBP1 billion of loans originated through Funding Circle’s UK platform over a two-year period. Waterfall’s investment will be partially financed by Deutsche Bank.
This significant investment will support the growth of approximately 14,000 small businesses, creating and sustaining thousands of new jobs across the UK. Waterfall joins a diverse group of investors lending to small
Rimon Law has expanded its Private Fund and Securities Advisor team with the appointment of Geoffrey Perusse as a Partner in the firm’s San Francisco and Lake Tahoe offices.
Perusse’s practice focusses on private fund formation, investment activities, securities regulation and compliance matters. He regularly represents sponsors and managers of private funds across various asset classes, including real estate, private equity, debt, venture capital and hedge funds, with respect to the structuring, formation and operation of the funds, regulatory and compliance matters and investing activities.
Perusse joins Rimon from VLP Law Group, where he was a Partner. Perusse brings his
Cross River, a provider of banking services for financial technology companies, has completed a funding round of approximately USD100 million, led by a USD75 million equity investment from KKR.
KKR is joined in the round by new investors, CreditEase and Lion Tree Partners, and by returning investors Battery Ventures, Andreessen Horowitz and Ribbit Capital.
In addition to traditional banking, Cross River has developed partnerships with financial technology companies to build fully compliant and integrated products for the marketplace lending and payment processing arenas. Current clients consist of leading technology brands, start-ups and financial services firms disrupting global finance including
Indigo Telecom Group has secured a strategic investment from Growth Capital Partners (GCP) which it will use to accelerate growth and M&A activity.
Indigo Telecom Group is a provider of multi-vendor managed and project services to international telecom network operators, equipment vendors and multi-national corporations.
The Group’s heritage can be traced back to 1997 and following a management buyout led by CEO Stephen Thompson in 2016, the business initiated an M&A strategy with its first acquisition Belcom247, a specialist provider of data centre connectivity solutions. Today, Indigo can boast a wide range of telecom services for an array of
Kirkland & Ellis has advised FountainVest Partners as a member of an investor consortium in a voluntary public tender offer, for all the shares in Amer Sports Corporation, a Finnish sporting goods company with internationally recognised brands including Salomon, Arc’teryx, Peak Performance, Atomic, Mavic, Suunto, Wilson and Precor.
The transaction is valued at approximately EUR5.6 billion (USD6.4 billion).
The investor consortium comprised ANTA Sports Products Limited (HKSE: 2020), FountainVest Partners, an affiliate of Chip Wilson (founder of lululemon athletica inc) and Tencent Holdings. Read more at the releases by Amer Sports and ANTA Sports Products.
The Kirkland team was led by
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