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Periscope Equity (Periscope), a Chicago-based private equity firm, has completed the final closing of its first institutional fund. Periscope Equity I exceeded its target closing with more than USD104 million of committed capital.
Periscope received fund commitments from a distinguished group of limited partners, including endowments, pension funds, charitable foundations, fund-of-funds, family offices and high net worth individuals.
“Since its inception, we have successfully executed our strategy of transforming smaller technology-enabled business services companies into great investments, by partnering with, and building, dynamic management teams,” says Periscope Partner, Steve Jarmel. “Assembling a well-respected group of sophisticated investors validates our
Wild Bunch SA, a wholly owned subsidiary of European film distribution and sales company Wild Bunch AG, has agreed a refinancing deal with SWB Finance, part of the Sapinda Group.
As part of this plan SWB Finance will assume the company’s existing financial liabilities for a total amount of EUR62.7 million, out of which EUR36.6 million will be contributed into the equity of Wild Bunch AG.
In addition, the creditors of the 8 per cent corporate bond issued in 2016 with a total nominal amount of EUR18 million are to resolve the conversion of all bonds into new shares
Superion, TriTech and Aptean; three technology companies that offer solutions for public safety and public administration agencies, are to merge to create a new business focused on building software that solves some of the most critical issues facing local governments.
The combination of Superion, TriTech, and the public sector and healthcare business of Aptean will offer a broad suite of software solutions to serve agencies of all sizes across North America. The transaction is the largest investment focused exclusively on developing software for the public sector.
The new company will maintain all current products from each business while investing
Alternative investment group Tages is to acquire a stake in VAM Investments, a private equity investment holding company specialising in growth capital and buyouts.
This strategic partnership marks Tages’ entry into the private equity sector as it continues to grow its business lines across alternative asset classes.
Under the agreement, Tages will acquire an initial 34 per cent of VAM Investments, while Francesco Trapani (pictured), a shareholder of Tages since the beginning of 2017, Deputy Chairman and member of the Board of Directors, will take a stake of 15 per cent via a direct investment.
Trapani will also
Apex Group (Apex), one of the world’s largest fund administrators, has appointed Joseph Holman as Global Head of Allocators for the Group.
Holman will manage relationships with institutional-sized investors and allocators worldwide and brings with him more than 25 years of industry experience in building and integrating businesses in the fund management space.
As Global Head of Allocators, Holman will report to the Group’s recently appointed Chief Revenue Officer, Fred Jacobs, and will be based alongside him in the New York office.
Prior to joining the Apex team, Holman held a variety of senior positions throughout the fund
Janney Montgomery Scott (Janney), a full-service wealth management, capital markets, and asset management firm, appointed 16 Capital Markets professionals in the second quarter of 2018.
Nine of the new hires came to Janney as a result of the firm’s May acquisition of HighBank Advisors, a Baltimore-based middle market investment bank and financial advisory firm. The acquisition also expanded Janney’s Investment Banking division’s industry group coverage to six by introducing Business Services to the already established verticals of Basic Industries, Financial Institutions, Healthcare, Infrastructure, and Real Estate.
“Janney’s Capital Markets Group experienced significant growth in the second quarter by expanding
SME funding partner, Ultimate Finance, has reached a new lending milestone, with almost GBP200 million available to small and medium-sized businesses across the UK.
The figures from the first half of 2018 show a 42.3 per cent increase in cash to customers for the alternative finance specialist, which has recorded growth of 150 per cent since it was acquired by independent investment firm Tavistock Group, in July 2015.
Ultimate Finance has seen particularly strong developments across a number of its specialist products with Bridging Finance increasing by 260 per cent, and now sitting at almost GBP30 million of funds
Clayton, Dubilier & Rice has appointed Bruno Deschamps, a seasoned executive with a distinguished career leading and advising both public and private industrial and services enterprises globally, as an Operating Advisor to CD&R funds.
Deschamps is Chairman of the Board of Diversey (HQ: Charlotte, NC – USA), a specialist in hygiene & sanitation products, services, and solutions to the institutional and industrial markets. He also served as Chairman of the Advisory Board of Kloeckner Pentaplast (HQ: Montabaur, Germany), one of the world’s largest suppliers of films for pharmaceutical, medical devices, food, electronics, and general packaging.
Previously, Deschamps served as President
Clyde Blowers Capital (CBC) is to sell precision motion control expert, Cone Drive, to The Timken Company (TKR), subject to customary government and regulatory approvals.
Since acquiring Cone Drive in 2012, CBC has repositioned Cone Drive from an industrial gearing company operating largely out of North America to a globally integrated business with operations on three continents serving a wide range of precision motion control technology markets.
The acquisition of H-Fang, based in Jiangyin, China, in 2014 represented a key milestone in the geographic expansion of the business and also provided Cone Drive access to the fast growing China
Aurelius Alpha Limited, a subsidiary of Aurelius Equity Opportunities SE & Co (Aurelius), has acquired Ideal Shopping Direct (ISD), one of the UK’s leading multi-channel home shopping retailers, from Blackstone.
Financial terms of the deal have not been disclosed.
With over 600,000 customers and FY17 revenues of GBP145 million, Ideal Shopping Direct sources, designs and sells lifestyle and crafting products to consumers via a variety of dedicated interaction channels including TV shopping channels, social media platforms, websites and live events. The company has two flagship channels, Ideal World and Create & Craft which deliver video content across both the
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