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Highland Europe has closed its third fund in six years, raising EUR463 million to boost funding for globally ambitious European software and internet-enabled businesses.
Significantly oversubscribed, the fund was raised in just 12 weeks and takes the firm’s assets under management to EUR1.1 billion.
There are now 29 active companies in the Highland Europe portfolio, with combined revenues of EUR1.1 billion in 2017. Together the firm’s companies employ over 6,500 people and are based primarily in Germany, the UK, and France and more broadly in Finland, Ireland, Italy, the Netherlands, Spain, Switzerland and the US.
Over the last 18
Paragon Group, a provider of Customer Communications, Identification and Graphics services, has acquired SIMS, the managed services division of St Ives plc. Following this acquisition, Paragon Group revenues will exceed EUR700 million during the next financial year.
SIMS will become part of Paragon Customer Communications’ business in the UK.
With revenue exceeding EUR40 million, SIMS procures a broad range of products and services for blue chip clients to support complete brand engagement programmes. These services will enhance Paragon’s existing supply chain solutions, while SIMS clients will benefit from the data analytics, digital communications and customer engagement capabilities of Paragon
PraxisIFM has acquired Nerine, a provider of private client and corporate administration services to an international client base.
This is Channel Islands-based PraxisIFM’s fourth acquisition in a two year period during which it has grown from employing 300 staff in the summer of 2017 to 520.
Nerine Trust was established in 1997 and the majority of its 92 staff are employed in Guernsey.
PraxisIFM’s Chief Executive Officer, Simon Thornton, says the deal will bring together like-minded teams. “In a world where so many of our competitors are owned by private equity houses or large institutions our continued independence and
SALU Capital (SALU), together with its partners Apex Group, Genstar Capital, and Inlife Holding, has purchased at least 95 per cent of the shares of Augur Financial Opportunities 2 SICAV (AFO-2).
The Luxembourg investment vehicle, which is managed by German Augur Capital and includes the fund’s portfolio companies, German life insurer myLife Lebensversicherung AG (myLife) and Luxembourg-based fund administration and ManCo business LRI (LRI Group), has been acquired from the Fund’s investors in a secondary fund buy-out transaction. As part of the transaction, LRI Group will become part of Apex, a Genstar portfolio company, while myLife will become a wholly
Man FRM, Man Group’s alternative investment specialist, has appointed Samantha Rosenstock as Sector Head of Relative Value and Private Markets. She will be based in New York and report to Jens Foehrenbach (pictured), Chief Investment Officer at Man FRM.
Rosenstock has 20 years of experience in the alternative asset management industry, and prior to joining Man FRM was Head of Alternative Investment at the State of New Jersey. In her role at the public pension fund, she helped manage a portfolio of global hedge funds, private equity, private credit, real estate and real asset investments. Prior to this, Rosenstock was
A veteran of litigation finance has launched a well-capitalised company with a commitment to elevate fairness and client objectives in financing commercial and business legal disputes.
Ralph Sutton, formerly chief investment officer of Bentham IMF, has formed Validity Finance to provide businesses, law firms and individuals with non-recourse funding for a wide variety of commercial litigation.
Validity’s backers have committed up to USD250 million of capital to the new business. The company is anchored by a majority commitment from New York and London-based private equity firm TowerBrook Capital Partners, through its Structured Opportunities Fund.
Sutton sees Validity as
OakNorth has provided The Inn Collection Group, one of North East England’s biggest leisure operators with seven sites across Northumberland, County Durham and Teesside, with finance to fund further expansion.
Established in 2006, The Inn Collection Group has become a market leader in developing contemporary inns providing accommodation, food and drink to leisure and business customers. It currently has 215 rooms across its seven sites, but plans to increase this to almost 300 by 2020 with the OakNorth lending.
In addition to opening an eighth inn later this year – a 30-bedroom inn in Amble, Northumberland – the business
Law firm Morrison & Foerster has appointed Anthony (Tony) Carbone as a partner in its New York office. Carbone will co-chair the firm’s Global Tax Department with Craig Fields and David Strong, and will also co-chair the Federal Tax Group with Strong.
Carbone further expands Morrison & Foerster’s tax capabilities both on the East Coast and across the firm, and brings market-leading expertise to its Business Restructuring & Insolvency, M&A, Private Equity, and Fund Formation practices. He comes to Morrison & Foerster from the New York office of Willkie Farr & Gallagher.
Carbone’s practice focuses on tax planning strategies and
Montagu Private Equity (Montagu) is to acquire Wireless Logic Group (Wireless Logic), a smart connectivity platform provider, from CVC Capital Partner’s Growth Fund. The Wireless Logic sale represents the first exit for CVC’s Growth Fund. Terms of the transaction have not been disclosed.
Wireless Logic was established in the UK in 2000 and provides businesses with specialist Internet of Things (IoT) and Machine-to-Machine (M2M) platform services across mobile, satellite, low-power wireless, and fixed line networks. The company’s services enable smart connectivity for applications and devices, creating two-way communication across secure private networks. The platform gives organisations of all sizes the
Maitland, a global advisory and fund administration firm, has appointed Tim Oddy as Senior Relationship Manager for its UK and EU funds business.
The hire has been made following a sustained period of organic growth, together with a number of significant new client implementations over the last eighteen months. Oddy will be responsible for the relationship management of Maitland’s largest fund services clients, as well as helping to raise awareness of the Maitland brand across the market. Based in London, he will report to Patric Foley-Brickley, Head of Business Development & Client Management – Europe.
Oddy joins from Ballybunion
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