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Boutique asset manager Unigestion has held the final close of Unigestion Secondary Opportunity IV (USO IV), the firm’s fourth global small and mid-market private equity secondary investment program, at EUR306 million – nearly twice the size of its predecessor fund.
USO IV has already completed 11 secondary transactions across North America, Europe and Asia, and the final close attracted strong investor support from both new and existing clients, including insurers, pension funds, banks and family offices across the UK, mainland Europe and Asia.
Unigestion’s strategy for USO IV is to seek secondary opportunities where high quality assets can be
LNC Partners has completed the purchase of CrossLink Professional Tax Solutions (CrossLink), a provider of professional tax software solutions to tax preparers across the United States.
LNC partnered with the Company’s CEO, Reynold Sbrilli, who has been instrumental in growing the business into an industry leader over the past six years. Sbrilli and his executive team will continue managing CrossLink’s day-to-day operations.
“This is a pivotal moment in the Company’s history,” says Sbrilli. “In order to continue growing Crosslink and its leadership position in the professional tax software marketplace, we saw the need for a new partner that could help us unlock the true growth potential of our
Innova Capital’s portfolio company Profim, a Polish manufacturer of office chairs, is to join the Norwegian Flokk Group, which owns a host of office furnishing brands. As a result of this transaction, Innova will become Flokk’s largest minority shareholder.
“Flokk’s ambition is to become one of the leading European players in the office furniture market. After Profim joins the Group, our position in our key markets will be even stronger”, says Lars I Røiri, CEO of Flokk. Triton Partners, its major owner to-date, will continue to be Flokk’s majority shareholder. The parties to the deal have not divulged its value.
Denham Capital, a global energy-focused private equity firm, acting through its International Power Fund, has launched the Africa Power Investment Platform in partnership with Themis.
Themis has been responsible for developing and financing some of Africa’s most significant infrastructure and power projects over the last decade while Denham Capital is an investor and developer of natural gas-fired and renewable power generation assets across Africa.
The Themis team comprises professionals with wide-ranging experience in power project development, equity investments, lending and arranging senior and sub debt facilities in limited recourse and corporate finance transactions across Africa, Asia, Europe, and the
SALI Fund Management, a specialist in the creation and administration of Insurance Dedicated Funds (IDFs), has secured a growth capital investment from affiliates of Long Ridge Equity Partners LLC.
Proceeds from the financing will be used to further invest in growth initiatives and to provide partial liquidity to retired shareholders and will allow active shareholders to continue to invest in the business. The day‐to‐day operations and decision making of SALI will remain unchanged with the firm’s Managing Principal, Thomas A Nieman (pictured), continuing to lead the organisation.
Founded in 2002, SALI administers IDFs for a broad range of alternative
Maples Fiduciary, a provider of fiduciary and corporate administration services, has appointed Guy Dominy as Director, Business Development in North America.
Dominy (pictured), brings extensive buy and sell side experience in the asset management industry, including senior roles at private equity fund managers and fund administrators. In his most recent role he was Managing Director and head of the US business development team of a global asset services provider, responsible for US growth strategy, product development and sales of all divisional and group business lines. He also brings considerable advisory experience as a funds lawyer at major international law firms.
SwanCap has held the final close for its latest fund at EUR433 million, comfortably exceeding its EUR400 million target.
SWAN III provides exposure to the private equity mid-market in Europe and North America via a combination of primary funds, direct co- investments as well as select secondaries.
The LP base of SWAN III includes many institutional investors, public and corporate pension funds, insurance companies, endowments, foundations as well as large family offices. As per today the Fund has already closed 20 transactions and as such deployed circa 50 per cent of total commitments across all three investment strategies.
GALA Kerzen, a manufacturer of candles, headquartered in Germany, is expanding through the acquisition of a majority stake in Ramesh Flowers, an Indian manufacturer and exporter of potpourri, air fresheners, incense sticks, candles and decorative products.
The deal represents the first purchase for the Bavarian candle manufacturer since its acquisition by funds managed by Equistone Partners Europe (Equistone) in 2016. The acquisition of Ramesh Flowers will expand GALA Kerzen’s range of high-end scented and decorative products and enable the company to move into new markets outside Europe. The financial terms of the deal are undisclosed and completion remains subject to
Offshore law firm Carey Olsen has added to its banking and finance team with the appointment of Michael Evans as counsel in the Jersey office.
Evans (pictured), brings with him more than 10 years’ experience working on a variety of finance transactions and has acted for a wide range of international institutions and borrowers on complex multi-jurisdictional bilateral and syndicated facilities. He has a particular interest in leveraged and acquisition finance, Islamic finance and restructuring and insolvency.
Evans qualified as a solicitor in England and Wales in 2007, having trained in the London and Dubai offices of Freshfields Bruckhaus
Global fund administrator Mainstream Fund Services is expanding its organisation to handle the growing practice for closed-end funds; private equity, venture capital, and real estate – with the appointment of Jay Maher as CEO of Private Equity.
For the past two decades, Maher (pictured), who will be based in the US, has been a developed a best in breed service focusing on technology and automated workflow processes.
“Mainstream is the perfect fit for our experienced team to execute delivery of our service model to the Private Equity, Venture Capital, and Real Estate industries. Mainstream has a global reach while
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