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Strata Fund Solutions (Strata), a fund service administrator for venture capital, private equity and other alternative asset managers and allocators, has closed a significant growth equity investment from FTV Capital.
Strata will continue investing in technology, product and client-centric service enhancements to deliver highly customised client solutions. Jared Broadbent, Darren Benson and Nathan Rees, Strata’s co-founders and managing partners, will continue their leadership of Strata and remain significant shareholders in the company. As part of the transaction, FTV Capital managing partner Brad Bernstein and partner Kyle Griswold will join the founders on the company’s board of directors. StepStone Group, a
Funds managed by Ares EIF, Ares Management’s power and infrastructure strategy, have closed on the acquisition of substantially all of the assets and business interests of Paradigm Energy Partners from an affiliate of Stonepeak Infrastructure Partners.
The Paradigm assets will be combined with Ares EIF’s adjacent Van Hook Gathering System, which it acquired in 2015, to form a premier regional midstream platform serving the core of the Williston Basin in North Dakota, with additional reach into the prolific Eagle Ford Shale in South Texas. The combined entity, which will continue to be known as Paradigm, will continue to be operated
An affiliate of private equity firm HIG Capital (HIG) has acquired Recochem from an affiliate of Swander Pace Capital, in partnership with Recochem management. Terms of the transaction have not been disclosed.
Founded in 1951 and headquartered in Montreal, Quebec, Canada, Recochem is a global leader in manufacturing, marketing and distributing aftermarket transportation and household fluids. The Company’s product portfolio spans branded, private label and bulk offerings and includes coolant, windshield wash fluid, diesel exhaust fluid and a broad range of household fluids and industrial chemicals. The Company generates approximately USD500 million Canadian Dollars (“CAD”) of net sales annually, serving
Alternative investment fund (AIF) manager Olymp Capital has launched what it says is the first European investment fund to cover the entire blockchain and crypto asset ecosystem.
The fund will include blockchain-related private equity, initial coin offering (ICO) activity, and fund-of-fund activity centred on crypto hedge funds. The fund accepts investment both in fiat and cryptocurrencies (eg bitcoin, ether).
The Olymp Capital leadership team is led by experts in both traditional finance and in the blockchain ecosystem who have drawn on the best features of traditional venture capital, updated for the world of crypto investment. They include serial technology entrepreneur Christophe
Prescient Fund Services (Ireland) Limited, an independent provider of Management Company, UCITS and AIFMD Platform and Fund Administration services, has appointed Emily Davy as Head of Legal and Compliance in Dublin.
The appointment follows a period of strong growth in new business and continued demand by UK and global asset managers for Prescient’s utsourcing solutions for Irish and other EU regulated traditional and alternative investment funds.
Davy joins from Walkers Global where she was an Of Counsel in the Investment Funds Group. She previously spent a number of years in the Investment Funds Department at Matheson, another Irish law
Augmentum Fintech, a fintech venture capital investor, has made an investment of GBP5.3 million in UK based fast-growing mobile-only current account provider Monese.
Augmentum is participating in this GBP46 million Series B fundraising alongside Kinnevik, PayPal and Avios, all of whom are investing in Monese for the first time.
Monese (www.monese.com) launched in September 2015 as the first mobile-only current account in the UK and serves the increasingly mobile European labour market. The majority of its nearly 600,000 customers use Monese as their primary bank account, with 75 per cent of all incoming funds being regular salary payments.
ByBox, a specialist in smart locker technology and field service solutions has secured a strategic investment from Francisco Partners that values the company at GBP221 million.
The private equity firm backs ambitious technology-enabled businesses and will support ByBox’s expansion of its UK infrastructure and global deployment of its ‘Konnect’ app-locker solution.
“ByBox is a great company with a clear and increasingly critical proposition. Its success comes down to great leadership, outstanding customer service and relentless development of its solutions. Listening closely to customers and really understanding market trends has made ByBox an extremely investible business,” says Deep Shah,
Agilitas, a pan-European mid-market private equity firm, has appointed Michael Jennings as Chief Executive of its latest portfolio company, Hydro International.
Jennings became Chief Executive with effect from 1 September 2018, having been non-executive Chairman since Agilitas announced its investment in Hydro International in February 2018. Jennings was previously Chief Executive of Hydro International plc from July 2013 until its takeover by its previous owners in late 2016, having spent his career in industrial products, services and technology-led businesses in the automotive, electronics and pharmaceutical sectors.
Martin Calderbank, Managing Partner at Agilitas, says: “We are delighted that Michael has
ACORN OakNorth Holdings has secured USD100 million from the EDBI of Singapore, NIBC Bank, Clermont Group, GIC, and Coltrane Asset Management.
The USD100 million, which represents 4.3 per cent of the company, will be used to accelerate the growth of ACORN machine and enable OakNorth to continue scaling its lending efforts in the UK.
Since the start of 2018, OakNorth has doubled its loan book from USD1.1 billion to USD2.2 billion and expects to lend a further USD600 million this year. Its loans have directly helped with the creation of over 8,500 new homes and 8,000 new jobs in
Council Capital, a healthcare-focused private equity firm based in Nashville, has sold Adva-Net, the first investment by Council Capital III, to Paradigm Outcomes.
Terms of the transaction have not been disclosed.
Adva-Net, the nation’s leading ancillary network for high-acuity workers’ compensation claims for pain management, post-acute care and addiction recovery, has experienced exponential growth since its launch in 2012. Since Council Capital’s investment in 2015, Adva-Net has grown revenue annually by 166 per cent, landing a spot as the fastest growing Health Sector company on the Inc 5000 list in 2017 (and No13 Overall).
Council invested in Adva-Net
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