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Apex Fund Services has agreed a recapitalisation deal with middle-market private equity firm Genstar Capital and is also to acquire Equinoxe Alternative Investment Services.
Headquartered in Bermuda, Apex was founded in 2003 by Peter Hughes (pictured) and today provides back office, middle office, regulatory reporting and other administrative services to a global customer base of asset managers across all asset classes.
With the addition of Equinoxe, Apex will increase its suite of middle office solutions and will administer close to USD80 billion in assets.
With enhanced capabilities, global reach and capital support from Genstar, Apex has a goal
- 10/05/2017
Finance platform Lendable has secured a USD550,000 debt financing for Raj Ushanga House (RUH), the Kenya distributor for Azuri Technologies, a provider of pay-as-you-go (PayGo) solar energy solutions.
Using a data driven “receivables financing” solution, capital is secured by future customer revenues from a portfolio of over 7,000 RUH PayGo solar customer contracts, and is the first such financing by Lendable for a PayGo energy company.
Raju Haria, CEO of Raj Ushanga House, says: “The debt financing from Lendable marks an exciting chapter for RUH. It enables us to reach more customers and finance their ownership of these assets.
- 09/05/2017
Music streaming service Pandora has secured a USD150 million investment from KKR.
The deal will see Richard Sarnoff, KKR’s head of media and communications private equity investing in the Americas, join Pandora’s board of directors.
"We are happy to be partnering with KKR on this investment," says Naveen Chopra, chief financial officer at Pandora. "A strong balance sheet gives us the ability to accelerate growth investments when appropriate and to compete aggressively in a rapidly changing, complex market."
“We are excited to support the long-term growth of Pandora with this investment,” says Sarnoff. “A true pioneer in digital
- 09/05/2017
- 09/05/2017
Data security specialist Vera has secured a USD15 million investment led by Hasso Plattner Ventures (HP-Ventures), the venture capital firm founded by SAP co-founder and chairman, Hasso Plattner.
HP-Ventures is joined by existing investors Battery Ventures, Sutter Hill Ventures, Clear Venture Partners, Amplify Partners, Capital One Ventures and Leslie Ventures who all participated in this strategic financing.
This latest investment brings Vera's total capital raised to over USD50 million.
Vera has also appointed Clear Venture Partners' co-founder and general partner Chris Rust to its board of directors.
"Hasso Plattner Ventures has a highly curated, global portfolio of
- 09/05/2017
Star Tech NG, the UK’s first portfolio company focussed on pre-IPO US tech giants, will shortly commence a second round of funding to raise in excess of USD50 million through a listed Guernsey fund.
Accredited investors are still able to participate in its first funding round up to a total of USD5 million.
The new funds will be invested in an expanded portfolio of pre-IPO disruptive technology companies and next generation scale-up stage businesses.
Star Tech NG is the UK’s first investment vehicle to focus directly on privately held US technology companies and has already invested USD1 million
- 09/05/2017
White Oak Global Advisors has rebranded Capital Business Credit, the finance lender and provider of asset-based loans, factoring and trade finance products which it acquired in December 2016, as White Oak Commercial Finance.
“The White Oak Commercial Finance platform will provide asset-based loans, equipment financing, factoring, working capital solutions and credit services, ranging from USD1 to USD100 million, to small- and middle-market companies. This provides a greater number of companies with access to more capital and services than previously offered by either White Oak or CBC individually,” says Andre Hakkak, CEO of White Oak.
White Oak, together with White
- 09/05/2017
Pictet Alternative Advisors (PAA), the alternative investment specialist of the Pictet Group, has held the final close at USD815 million of Monte Rosa IV, the fourth fund in a series of diversified, multi-manager private equity funds.
Maurizio Arrigo, head of private equity at PAA, says: “This is 2.5x bigger than the predecessor fund that closed in 2015. This successful fundraising comes as a confirmation that private equity has now become a major asset class, playing a meaningful role in most investors’ strategic allocation.”
Monte Rosa IV will invest mostly in North American and European buyout funds and to a
- 09/05/2017
OneDigital Health and Benefits, the US’ largest employee benefits-only company, is to partner with New Mountain Capital, a growth-oriented investment firm headquartered in New York City.
New Mountain is acquiring the majority ownership position from Fidelity National Financial Ventures (FNFV) and will provide strategic guidance and industry expertise to help drive OneDigital’s continued growth.
Adam Bruckman, president and CEO of OneDigital, says: “When seeking the right partner to support OneDigital’s future, we wanted a group that would be a great cultural fit and have proven experience in both healthcare and brokerage distribution. We have a tremendous opportunity in front
- 09/05/2017
International law firm McDermott Will & Emery has added a new corporate team in its Milan office with the arrival of three partners, Giancarlo Castorino, Ettore Scandale and Emidio Cacciapuoti, and a team of four counsel and 10 fee earners.
The team joins from the Milan office of King & Wood Mallesons (KWM). Castorino had been the office’s managing partner, succeeding Scandale who previously held the role.
Ira J Coleman, chairman of McDermott, says: “This group is a great addition to McDermott as we extend and deepen our relationships with both local and global clients as a leading firm
- 09/05/2017
Global private equity firm HIG Capital has sold Brand Addition to Elysian Capital.
Terms of the transaction have not been disclosed.
Headquartered in the UK, Brand Addition is a global service provider in the design, sourcing and distribution of promotional merchandise to large corporates predominantly in the automotive, engineering, health and beauty, FMCG, technology and financial services industries.
Following the carve-out from 4imprint in March 2011, HIG teamed with Chris Lee and the senior executives of Brand Addition to reposition the business, increasing the range of services and geographic reach, and shifting the emphasis to focus on large
- 09/05/2017
- 09/05/2017
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