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Directed Capital, a distressed asset workout specialist firm that acquires, manages and resolves distressed commercial mortgage loans, has closed its seventh fund at USD77 million, its highest-grossing fund to date.
Additionally, the firm has announced a USD40 million increase in the firm’s revolving credit facility from Goldman Sachs Bank USA from USD60 million to USD100 million.
The fund already has acquired more than USD180 million in assets, and quarterly distributions to investors began in the first quarter of 2016.
Since 2001, Directed Capital has sponsored seven funds, raising more than USD200 million in equity and acquiring more than
- 25/01/2017
Northleaf Capital Partners has held the final closing for its second OECD-focused pooled infrastructure fund, Northleaf Infrastructure Capital Partners II (NICP II), at its USD950 million hard cap.
Northleaf’s USD2.5 billion infrastructure programme is focused on direct, long-term investments in OECD countries, providing investors with stable, consistent cash flow from assets that deliver essential services.
“We are delighted that NICP II was oversubscribed, with strong support from both new and existing investors,” says Stuart Waugh, managing partner of Northleaf. “Our successful track record and consistent focus on conservatively-positioned small to mid-sized infrastructure assets in developed markets clearly resonates with
- 25/01/2017
Sterling Partners’ Education Opportunity Fund has invested in Amerigo Education, a company that partners with elite American high schools to support their international students and prepare them for acceptance into selective US universities.
Amerigo uses an approach centred on excellent academic outcomes to ensure international students thrive both in and out of the American classroom.
After decades of combined industry experience at companies like Deltak (acquired by John Wiley & Sons in 2012), Shorelight Education, Meritas, the Cristo Rey Network and Navitas, the educators, programme specialists and experts at Amerigo created a solution that emphasises success and growth which
- 25/01/2017
Shareholders in the Standard Life European Private Equity Trust have approved plans to increase the dividend, simplify the fee structure and increase the flexibility of the investment strategy to enhance its overall exposure to private equity.
Reflecting the strategic changes, the trust is removing the reference to “European”, simplifying its name to the Standard Life Private Equity Trust (SLPE.L).
The evolution of the strategy will enable the manager to invest in the leading private equity buyout funds regardless of size and with additional geographic freedom.
Roger Pim, deputy head of SL Capital Partners, says: “We believe that the
- 25/01/2017
Ipes, a provider of outsourced services to private equity in Europe, has appointed Adrian Gardner as chief financial officer (CFO).
Until recently, Gardner was CFO of International Personal Finance, the FTSE 250 financial services firm.
He began his career at Price Waterhouse (now PwC), then spent 13 years at Lazard, latterly as a managing director in the TMT team.
He then served as CFO at ProStrakan, PA Consulting and RSM Tenon.
Chris Merry, Ipes CEO says: “Adrian brings a wealth of experience from a variety of financial and professional services businesses and will be a great asset
- 25/01/2017
- 25/01/2017
Cobepa has acquired Brandblock Holding (HG) from Gilde Buy-out Partners.
HG is a supplier of specialty consumer cleaning and maintenance products with headquarters in The Netherlands and growing sales in the UK, Germany, Spain, France and Italy.
Baird served as the exclusive financial adviser to Gilde in the transaction with Terry Huffine and Rob Rosenfeld leading the deal team.
This deal marks Baird’s sixth consumer sell-side transaction with a European buyer or seller in the past 12 months.
- 25/01/2017
- 25/01/2017
UK mid-market private equity investor LDC has backed the management buyout (MBO) of Fishawack Group, a provider of scientific communications services to global pharmaceutical companies.
The deal values the business at GBP38 million and LDC has committed further equity to accelerate Fishawack’s growth strategy, including potential acquisitions. It represents a strong exit for Growth Capital Partners (GCP) who supported the management team in a secondary buyout in 2013.
Founded in 2001 by Oliver Dennis and Dominic Miller, who will both continue to lead the business, Fishawack provides fully-integrated, cross-border services to global pharmaceutical organisations. It provides a variety of
- 25/01/2017
- 25/01/2017
There is continued confidence in the venture capital trust (VCT) sector with fundraising for the 2016/17 tax year to 31 December 2016 up 53 per cent on fundraising to 31 December in the 2015/16 tax year, according to data published by the Association of Investment Companies (AIC).
Some GBP169.5 million was raised at 31 December 2016 compared to GBP110.8 million at 31 December 2015.
The increased level of fundraising reflects early VCT offers being launched in the 2016/17 tax year, continuing demand for VCT offers that were open up to the end of 2016 and strong support for VCT dividend
- 24/01/2017
- 24/01/2017
HIG Capital, a global private equity investment firm with EUR20 billion of equity capital under management, has appointed Kenneth Borton as managing director of WhiteHorse Capital, the direct lending affiliate of HIG Capital.
He will be based in London.
Borton has over 17 years of experience in direct lending, structured finance and special situations. Prior to joining HIG WhiteHorse, he was a managing director at Citi with responsibility for the credit opportunities business in EMEA, managing over USD500 million of direct lending transactions across sectors and throughout the region.
John Bolduc, executive managing director, says: “I am delighted
- 24/01/2017
Euronext is to roll out a series of initiatives dedicated to family businesses to promote listings and increase their visibility among investors.
There are currently over 14 million European family businesses, amounting to 60 per cent of the total number of companies in Europe. Family businesses account for 66 per cent of companies worldwide, generating over 70 per cent of global GDP annually.
Today, 201 family businesses are listed on Euronext markets, representing a total market capitalisation of EUR745 billion. This includes 158 SMEs with a total market capitalisation of EUR43 billion.
Following interviews with key sector players
- 24/01/2017
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