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SIS Ventures is launching its first GBP5 million fund to back Scotland’s high impact enterprises.
Benefiting from both Enterprise Investment Scheme (EIS) relief and Social Investment Tax Relief (SITR), Impact First will offer investors a portfolio of between six and twelve high-growth potential, high-impact enterprises which aim to tackle a clearly identifiable social problem with a scalable and disruptive business solution.
The first close seeks to raise GBP2 million from UK-based private investors, with the capital targeted for deployment over 12-18 months. Investments will target EIS (equity) or SITR (debt) qualifying companies.
Entrepreneurs with an ambition to make
Northrop Grumman Corporation has closed its acquisition of Orbital ATK, a specialist in aerospace and defence technologies. Orbital ATK is now Northrop Grumman Innovation Systems, a new, fourth business sector.
Northrop Grumman’s board of directors has elected Blake Larson as corporate vice president and president of Northrop Grumman Innovation Systems, reporting to Kathy Warden, Northrop Grumman’s president and chief operating officer. Larson previously served as the chief operating officer of Orbital ATK.
“We welcome Orbital ATK’s talented employees,” says Wes Bush, chairman and chief executive officer, Northrop Grumman. “We are delighted to have them join the Northrop Grumman team,
Fondo Agroalimentare Italiano (FAI) has held its first closing with commitments of nearly EUR40 million. The Fund is expected to reach its EUR50 million target and maintains its EUR70 million hard cap.
Sponsored by Unigrains, the Fund’s subscribers include French, Italian and Swiss institutional investors and family offices as well as several Italian entrepreneurs.
FAI invests in minority stakes either in growth capital transactions or in buyout transactions as a sector specialist, in the capital of Italian agri-food SMEs with sales generally between EUR10 million and EUR150 million. These investments go towards financing the development of companies via external
Private equity firm Silverfleet Capital has agreed to sell Ipes, a provider of outsourced service,s including fund administration, to the European private equity sector, to Apex Group Ltd.
The transaction, which is expected to generate a 3.8-times money multiple and 30 per cent IRR for Silverfleet once completion, adds USD165 billion in assets under administration to Apex’s portfolio.
Ipes was founded in 1998 and pioneered a specialist approach to fund administration within the European Private Equity market. Ipes’ team of 265 people located in five European offices works with 195 clients and provides administration and depositary oversight to 390
Accountancy and business advisory firm BDO has promoted 14 new partners across its tax, audit and advisory teams. The promotions, which are effective as of 30 June 2018, take BDO’s intake of new partners to 66 in the last two years.
BDO promoted seven people in its audit practice: Joe Aswani, Arbinder Chatwal, Matt Crane, Charles Ellis, Andrew Radford, Louise Sayers and Chris Young.
In the tax team, Cory Blackmore, Andrew Crossman, Richard Dalton, Brad Payne and Steve Talbot have been promoted.
Within the advisory team, Iain Nettleton, who specialises in complex international projects, and Duncan Berry, who
Ipreo, a provider of financial services technology, data, and analytics, has partnered with global professional services firm, Alvarez and Marsal (A&M) to provide enhanced integration and optimisation of Ipreo’s Private Capital Markets (PCM) solution suite for alternative asset managers.
Ipreo PCM’s solutions enable private capital firms, their LPs, and service providers to manage the overall data flow across their respective asset classes. Ipreo’s iLEVEL platform is a private market portfolio management solution, and counts many of the world’s top private capital firms, fund managers, and institutional investors as clients.
A&M’s Alternative Investment Services group helps funds address complex challenges
NextGen Growth Partners (NGP), a Chicago-based private equity firm that taps top entrepreneurs to acquire and grow businesses, has held the final close of its inaugural fund, above its original USD50 million target.
“We are thrilled with the ultimate investor group in this fund,” says Brian O’Connor, NGP Founder and Managing Partner. “It establishes a network of strategic investors and advisors that will be instrumental in the success of our strategy.”
NGP’s business model is to identify and mentor top talent within Chicago’s world-class entrepreneurial community – particularly business school alumni from the University of Chicago Booth School of
Kerry Logistics Network Limited has acquired a majority stake in Milan-based logistics company Saga Italia, as part of its ongoing global expansion strategy.
The acquisition will also add three new countries to Kerry Logistics’ network – the Republic of the Congo, Uganda, and Egypt, as well as new offices in Kazakhstan, Turkmenistan, United Arab Emirates, Russia, and the US.
Founded in 1985, Saga Italia provides end-to-end solutions tailored to its customers’ project requirements. More than 150 logistics professionals manage projects for multinational corporations across the globe, particularly for customers in the oil and gas industry. Saga Italia’s comprehensive range
K&L Gates has appointed Jae W Park as a partner in the firm’s private equity practice, effective from 1 June 2018.
Park is based in the firm’s New York office.
He advises and counsels public companies and financial sponsors on a wide variety of US and cross border transactions, including leveraged buyouts, mergers, equity purchases, asset acquisitions, strategic investments, joint ventures, and dispositions.
Great Rock Capital, an asset-focused commercial finance company specialising in middle market lending, has completed a GBP25 million secured term loan for Zacky & Sons Poultry, a vertically integrated grower, processor, and distributor of premium poultry products.
In addition, Great Rock Capital partnered with GemCap Solutions, an innovative lending firm that provides senior-secured, commercial asset-based loans, which provided a GBP16 million revolving loan.
The capital will enable Zacky & Sons to refinance existing senior indebtedness and fund capital expenditures to expand its production facilities to support the company’s growth.
“We are excited about our partnership with Great Rock
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