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Crosslink Capital has closed its eighth venture capital fund, Crosslink Ventures VIII. The new fund, which includes support from both new and existing investors, was over-subscribed, and closed with USD275 million of capital commitments.
Over more than twenty five years, the Crosslink partners have backed hundreds of emerging growth companies, including industry innovators, such as Coupa Software, ServiceMax, Bleacher Report, Casper, DataStax, Descartes Labs, Pandora, Postmates, Reltio and Molekule. The new fund enables Crosslink to continue to allocate intelligent capital behind ambitious entrepreneurs and collaborate with seed funds to identify, invest in and deliver a portfolio basket of winners.
“We
Aurelius Equity Opportunities, a pan-European mid-market investor, has made changes to its Executive Board.
From 1 August 2018, Donatus Albrecht will look after the group-wide M&A strategy of all business areas of the Aurelius Group and will step down from the Executive Board of the listed Aurelius Equity Opportunities SE & Co. KGaA. Matthias Täubl, who has already been with Aurelius since 2008, will join the Executive Board with responsibility for operations at the same time.
These personnel changes are in response to the significant increase in the size of the Aurelius Group in recent years, which now has
AP Ventures has launched as an independent venture capital fund to invest in applications for Platinum Group Metals (PGMs). Anglo American Platinum and South Africa’s Public Investment Corporation (PIC), as cornerstone investors, have each committed USD100 million to the fund.
The newly created AP Ventures is the first fund of its kind investing in pioneering technologies and businesses harnessing the unique high performance characteristics of PGMs.
Anglo American Platinum is the world’s leading primary producer of PGMs and is expected to continue to provide AP Ventures with the benefit of industry expertise, market knowledge and access to international networks.
Equity crowdfunding platform Seedrs is incorporating automation into its offering with the launch of a new product, AutoInvest.
Until now, investments on equity crowdfunding platforms have been entirely on a self-directed basis, with investors hand picking every campaign to invest in individually. With AutoInvest, investors select the amount they would like to invest per-campaign and the product then automatically invests based on criteria they have chosen.
Seedrs says AutoInvest opens up early-stage private equity to investors who have long been interested in the asset class, but not able to dedicate the time, allowing them to build a diverse portfolio
Northern Trust has launched North America Alternative Fund Services, a new group which combines established private equity and hedge fund services businesses to address the operational and strategic needs of the evolving alternative asset management industry.
North America Alternative Fund Services provides fund administration, accounting and data solutions to some of the world’s most sophisticated hedge funds, private equity managers and managed account platforms. It offers specialised expertise in complex valuations, cash, collateral and liquidity management, as well as analytics and transparency into portfolios that increasingly combine hedge fund strategies with fund structures traditionally used by private equity firms.
Thompson Street Capital Partners (TSCP), a private equity firm focused on investing in founder-led middle market businesses, has closed its fifth committed capital investment fund, Thompson Street Capital Partners V (TSCP V), at the hard cap with total commitments of USD1.15 billion.
The fund was oversubscribed and exceeded the original USD850 million target.
Commitments to TSCP V came from a diverse and well-respected group of new and existing global investors comprised of leading corporate and foreign pension funds, endowments, foundations and family offices. Consistent with prior funds, the partners of TSCP have made significant personal capital commitments to TSCP
The industrial gases specialist Messer and CVC Capital Partners Fund VII (CVC) are to acquire the majority of Linde AG’s gases business in North America, and certain business activities in South America.
With approximately 5,100 employees, the acquired North and South American companies generated 2017 revenues of USD1.7 billion (EUR1.4 billion) and EBITDA of just over USD360 million (EUR305 million). The purchase price of USD3.3 billion (EUR2.8 billion) will be subject to customary adjustments at closing. The transaction is subject to the completion of the planned merger of the two industrial gases firms, Praxair and Linde, and the approval by the
Allied Universal is to acquire US Security Associates (USSA) for approximately USD1.0 billion.
Based in Roswell, Georgia, USSA is one of the leading providers of security and related services in the United States, employing more than 50,000 security professionals serving several thousand clients across a wide range of industries. USSA generated 2017 pro forma revenues and Adjusted EBITDA of c. USD1.5 billion and USD95 million, respectively. The transaction is expected to close by the end of 2018, subject to customary regulatory approvals.
Allied Universal intends to fund the transaction with a combination of additional indebtedness and up to USD200
BlackRock’s results for the second quarter of 2018 reveal USD20 billion of total net inflows, positive across active, index and cash management.
The figures represent an 11 per cent revenue growth year-over-year driven by base fees, performance fees and technology services revenue and the firm writes that the 16 per cent operating income growth year-over-year reflects operating margin expansion.
There was 27 per cent diluted EPS growth (28 per cent as adjusted) driven in part by lower tax rate and USD300 million of quarterly share repurchases.
Laurence D. Fink, Chairman and CEO of BlackRock says: “BlackRock delivered strong financial results
International law firm Simmons & Simmons has opened for business in Dublin, having always had close links with the Irish funds industry.
Simmons & Simmons says that Ireland has been the fastest growing major fund domicile in Europe over the last five years, a tangible reflection of the benefits the Dublin office can offer the firm’s clients.
Simmons & Simmons is aiming to establish a ten-partner, 40-person practice within the next three years, supporting its asset management and financial institution clients across the breadth of their operations, including investment funds, regulatory, banking, capital markets, tax and corporate. The firm has
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