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Alternative fund manager Abacus Capital’s Hogi Hyun is stepping into the crypto world to bring investors a blockchain and tokenised investment grade diamond investment opportunity.
Abacus was established in Singapore in 1996 and has some USD1 billion in assets in special situations and private equity investments in commodities, natural resources and mining. It also has a family office fund platform.
Hyun’s new venture, the D1 Coin, is based on the physical delivery of an initial 1,500 investment grade diamonds from Alrosa, the world’s largest diamond miner. The diamonds will be used to support the new asset-backed token D1 Coin.
Hyun
Atalaya Capital Management, a private credit and special opportunities alternative investment manager, has closed a USD250 million senior construction loan and a USD65 million preferred equity investment to finance Flag Luxury Group’s construction and development of The Ritz-Carlton’s new flagship hotel in New York City.
This project will be the first ground-up hotel construction in New York City completed by Flag, which has developed numerous world-class hotels and resorts, including four Ritz-Carlton properties in Florida.
We are excited to be working with Atalaya, who worked diligently to structure a creative and comprehensive capital solution to facilitate the development of
Black Bay Energy Capital has held the final closing of its inaugural private equity fund, Black Bay Energy, with total commitments of USD224 million, exceeding its USD200 million target.
Black Bay’s investors include endowments, foundations, private pensions, fund of funds and family offices. Black Bay invests in companies led by talented entrepreneurs offering proven, next-generation products and services that help improve the economics, efficiency and safety of oilfield operations. Black Bay focuses on investments requiring up to USD30 million of equity capital.
“We are incredibly thankful and humbled to be partnered with such a knowledgeable and supportive group of
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
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