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Cathay Capital has held a first close for Cathay Midcap II at EUR600 million. The fund, which is targeting EUR1.2 billion is backed by Cathay’s historical cornerstone LPs, China Development Bank (CDB) and Bpifrance, and a mix of sovereign funds, institutional investors and family offices.
Cathay Midcap II is also the first fund invested by the China-EU Co-investment Fund program, which was established by the European Investment Fund and the Silk Road Fund for the purpose of developing synergies between the Investment Plan for Europe and China’s Belt and Road Initiative .
The Fund was officially launched at the
Ciena Corporation has acquired Packet Design, a provider of network performance management software focused on Layer 3 network optimisation, topology and route analytics.
Drake Star Partners acted as the exclusive sell-side advisor to Packet Design in this transaction.
The acquisition of Packet Design helps accelerate Ciena’s Blue Planet software strategy by extending its intelligent automation capabilities beyond Layers 0-2 and into IP with critical new capabilities to help customers optimise service delivery and maximise network utilisation. Specifically, the combination of the Blue Planet software platform and Packet Design’s performance analytics and service path computation capabilities forms a distinct
Gridiron Capital has acquired a controlling interest in The Service Companies, a provider of managed services, food & beverage staffing, and specialty cleaning services for the hospitality and gaming industries.
The Service Companies’ management team will remain significant investors in the company as part of the transaction and will continue in their current leadership positions. Terms of the transaction were not disclosed.
Comprised of Heart of House Services, Acrobat Outsourcing, and JRS International, The Service Companies is a leading provider of outsourced service solutions for the hospitality industry, offering a full scope of services, including turn-key housekeeping, public and
Ipes (Luxembourg), a provider of outsourced services to Private Equity in Europe, has been granted a Depositary licence by the Commission de Surveillance du Secteur Financier (CSSF).
This authorisation, effective 18 July 2018, enables Ipes (Luxembourg) to provide full Depositary services.
Ipes Chief Executive Chris Merry says: “The extension of our Depositary offering to Luxembourg was a natural progression for us, enabling us to provide our clients with the widest possible scope of services.”
The new Depositary offering in Luxembourg will complement Ipes’ established Depositary services in London.
“We have strong interest in our Depositary services in
Kenzie Academy, an apprenticeship program that develops modern tech workers, has closed a USD4.2 million seed stage investment, led by ReThink Education, which will enable the company to accelerate its ambitious plans to grow tech education and employment opportunities in Middle America.
The announcement was made by Chok Leang Ooi, co-founder and CEO, Kenzie Academy Inc.
ReThink Education’s follow-on investment is supplemented by a follow-on investment from Learn Start, a fund affiliated with Learn Capital, as well as new investments from Gratitude Railroad, Kelly Services, and Butler University. In addition, Matt Greenfield, Managing Partner at ReThink Education, will join
A decade-long review of South Korea’s private equity market reveals that investments have generated returns of around 20 per cent, far outstripping the public equity market which has only achieved between 1 and 3 per cent annual returns over the last five years.
The new analysis, completed by McKinsey & Company, concludes that returns have been even higher (up to 35 per cent) if exits were completed within three years, or if the investments were in the industrial or consumer sectors (these generated average returns of around 25 per cent each).
The McKinsey & Company report, released today, examines
SunSource Holdings, a distributor of fluid power and fluid process components and systems in the US and Canada, is to acquire The United Distribution Group (UDG), a distributor of fluid conveyance and related products and services primarily serving maintenance, repair and operations (MRO) needs across energy, mining and other industrial end markets.
Terms of the transaction have not been disclosed.
UDG is one of the largest distributors of industrial components and assemblies in North America. With a national footprint often located near high-growth energy markets, UDG combines a comprehensive product offering of over 140,000 SKUs with a suite of
Belinda Thomas, Partner and Investor Relations at Triple Point, comments on the Government consultation on strengthening the USD2.2 trillion pension fund industry’s ability to consider impact investments…
We welcome the Government’s commitment to promote further impact investment, which helps to address a broad range of the UK’s social and environmental issues, while also securing a market return for investors. The raft of changes and reviews being considered are extensive and should make a real difference to the amount of money channelled into the sector.
They include the Government’s review of changes to the law to strengthen pension schemes’ ability to
Ropes & Gray has advised US middle market private equity firm Genstar Capital on the acquisition of CRF Health, a provider of eCOA solutions for the life sciences industry.
The acquisition, by Bracket, a leading clinical-trial provider owned by Genstar Capital, was announced yesterday and is subject to customary closing and regulatory approvals.
The newly combined organisation will drive accelerated value for pharmaceutical companies and CRO customers, providing patient-centric solutions, combined with deep and broad therapeutic area expertise, across a strong and efficient global footprint. The deal follows Genstar Capital’s acquisition of Bracket, a leading scientifically-driven clinical trial technology
UK Fintech firm PayBreak has secured an additional GBP15 million of funding with specialist banking group Paragon as part of its growth plans.
PayBreak, based in Altrincham, specialises in innovative digital point of sale finance through online retailers, allowing customers to spread the cost of payments on purchases through its afforditNOW online lending platform.
To expand its lending capacity, PayBreak has worked closely with the Structured Lending team at Paragon, which provides senior secured funding to help other UK-based, non-bank lenders grow their activities.
Using extensive experience in banking, payments, and e-commerce, PayBreak has seen extensive growth in
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