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Grey Rock Energy Partners (Grey Rock) has held its first and only close of Grey Rock Energy Fund III (Fund III) which was oversubscribed with USD232.5 million in capital commitments.
The entirety of Fund III was raised through institutional investors; the majority are repeat investors who participated in prior Grey Rock funds.
Grey Rock is a Dallas-based private equity firm with more than USD450 million of assets and committed capital under management. The company acquires non-operated working interests in core unconventional basins, either by acquiring non-op directly from current owners, or by providing joint venture capital to operators. Grey
Offshore law firm Carey Olsen has successfully applied to have PwC appointed as joint provisional liquidators over Abraaj Holdings, a private equity investment group in the Middle East, amid opposition from certain creditors.
Abraaj Holdings filed an application in the Grand Court of the Cayman Islands seeking the appointment of Simon Conway, Michael Jervis and Mo Farzadi of PwC as joint provisional liquidators. The Grand Court granted the Order following a contested hearing on the 18 June. The Carey Olsen team was led by Nick Bullmore on the corporate side and Jan Golaszewski and Peter Sherwood on the insolvency side. Tom Smith QC
Artivest, a financial technology firm based in New York, and Altegris, an alternative investment manager based in San Diego, have successfully closed their previously announced merger.
The merged company, named Artivest, is headquartered in New York and California. Artivest serves over 10,000 clients worldwide, with approximately USD3 billion of asset flows, USD2.5 billion of which are alternative assets under management. Artivest’s digital alternative investment platform is a fully-encrypted online marketplace for qualified investors and financial advisors seeking access to world-class private equity, hedge fund, real assets and managed futures strategies, among others.
“Artivest is now the largest independent alternative
Verscend Technologies, a portfolio company of private equity firm Veritas Capital and a specialist in data-driven healthcare solutions, is to acquire Cotiviti Holdings, a provider of payment accuracy and analytics-driven solutions for the healthcare industry, for USD4.9 billion in cash.
Under the terms of the agreement, Cotiviti shareholders will receive USD44.75 in cash per share of Cotiviti common stock, and Verscend will assume all of Cotiviti’s outstanding debt, resulting in an enterprise value of approximately USD4.9 billion. The offer price represents a 32 per cent premium to Cotiviti’s unaffected share price as of 4 June, 2018 and a 136 per cent premium to the initial
Oak Hill Advisors (OHA) and Värde Partners (Värde) are to acquire a USD1 billion portfolio of shipping loans from Deutsche Bank. The transaction is expected to close in the third quarter of 2018 pending regulatory approvals.
This represents the second sale of shipping loan portfolios from European banks that Värde and OHA have acquired together.
“We view this investment as part of our long-term commitment to provide alternative capital to the shipping industry as traditional participants reduce their exposure and change tack following a challenging period for the sector as a whole,” says Stephen Seymour, Managing Director at
Glatfelter, a supplier of specialty papers and engineered materials, has signed a definitive agreement to purchase Georgia-Pacific’s European nonwovens business (the “Business”) for USD185 million, subject to customary purchase price adjustments.
The proposed transaction includes Georgia-Pacific’s operations located in Steinfurt, Germany, along with sales offices located in France and Italy. The Steinfurt facility produces high-quality airlaid products for the table-top, wipes, hygiene, food pad, and other nonwoven materials markets, competing in the marketplace with nonwoven technologies and substrates, as well as other materials focused primarily on consumer based end-use applications. The Steinfurt facility is a state-of-the-art, 32,000-metric-ton-capacity manufacturing facility that employs
Elastic Path, a specialist in enterprise headless commerce solutions, has closed a USD43 million Series B growth investment, led by Sageview Capital and with participation from current investors, Yaletown Partners and BDC Venture Capital.
The company has now raised a total of over USD63 million.
“Sageview provides highly complementary strategic and industry knowledge to our investor base. We look forward to leveraging the firm’s domain expertise, resources and shared vision to support Elastic Path’s goals for product evolution and market expansion,” says Harry Chemko, CEO of Elastic Path.”
Increased company momentum, including recent European customer wins such
A Hull healthtech start-up which has developed an award-winning device to enhance mental wellbeing has secured a GBP200,000 investment from NPIF-Mercia Equity Finance, which is managed by Mercia Fund Managers and is part of the Northern Powerhouse Investment Fund.
Moodbeam’s wearable device allows users to log their mood and monitor their emotional wellbeing – or that of their children, students, patients or employees. The device, which links to an online and mobile platform, gives insights into how moods change over time, showing patterns and trends that can support positive change. The funding will allow the business to put the device
Private capital has been vital in working alongside governments and other investors to help close the Africa’s infrastructure gap, according to the third edition of the African Private Equity and Venture Capital Association’s (AVCA) Sector Snapshot: Infrastructure.
The report states that 97 PE infrastructure deals worth USD12.1bn were reported between 2012 and 2017, with infrastructure being identified by African LPs as the most attractive sector for PE investment in Africa over the next three years.
The Snapshot confirms that infrastructure remains an attractive opportunity, as seen through the increase in the number of deals and fundraising activities in this
Funds advised by private equity firm Apax Partners have received a binding offer and have entered into exclusive discussions to sell Azelis to the EQT VIII fund and PSP Investments.
The transaction, which is subject to regulatory approvals, and other conditions including consultation with employee representatives, is expected to close in the fourth quarter of 2018. Financial terms were not disclosed.
Established in 2001, Azelis is a leading global specialty chemicals and food ingredients distributor providing a diverse range of products and innovative services to more than 43,000 customers in over 40 countries worldwide. Azelis provides a high value-add
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