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LLR Partners has closed a USD30 million minority growth equity investment in Midigator, the provider of a fully-automated software platform to prevent, analyse and manage payment card chargebacks, thereby increasing merchant revenue and lowering costs.
Key features of the platform include automated chargeback prevention alerts, intelligent chargeback representments with industry leading win-rates and real-time data analytics and reporting.
“Merchants, small and large, are struggling to keep pace with the rapid growth of fraud and payment card chargebacks. Midigator’s fully-automated software platform is uniquely positioned to help processors, acquiring banks, ISOs and merchants prevent and manage chargebacks,” says Corey Baggett,
Carlyle-Group-backed, third-party IT infrastructure maintenance specialist Evernex has appointed Stanislas Pilot as its new Chief Executive Officer (CEO).
Pilot, 48, an ENST engineer and MBA graduate from MIT, has previously served as COO of Arkadin, Group Leader at Capgemini Consulting, and Principal of Investments at Apax Partners.
Stanislas Pilot’s main mission will be to accelerate the company’s growth, both organic and external. In particular, he will oversee the successful roll-out of Evernex’s ambitious mergers and acquisitions programme. In addition, to guarantee the quality of customer service and optimisation of final results, Stanislas Pilot will actively undertake the implementation of
TJ Graham is joining Cooley’s Palo Alto office as a partner in the firm’s technology transactions group. He arrives from Wilson Sonsini Goodrich & Rosati.
“TJ is a skilled and highly regarded practitioner whose extensive experience in a range of technology transactions spanning many industries will prove an invaluable asset to our clients,” says Keith Berets, who heads Cooley’s technology transactions group. “The demand for complex technology transactions work has been on the rise, and TJ’s talent will be a significant addition to our growing practice.”
Graham works with clients at all stages of their life cycles. His representations
Aurora Management Partners has hired Alex Boerema as a Director based in the firm’s Chicago office. He will be responsible for spearheading and managing the firm’s existing presence in the Midwest.
“I am looking forward to joining the Aurora team,” says Boerema. “And contributing in the firm’s continued success and growth within the Chicago and national marketplaces.”
Boerema comes to Aurora with ten years of strong industry experience and consulting expertise. He has led and been a part of mid-market to large market client engagements, which included debtor consulting, interim management consulting, crisis management, and operational improvement. Along with
Campbell Lutyens, an alternative asset adviser, is opening offices in Chicago and Los Angeles, to support the growth in demand for its fund placement and secondaries advisory businesses across North America.
The firm now has five offices globally, with three in the US, including New York.
Campbell Lutyens’ US-based team has grown to 30 people and is currently advising on USD14.5 billion of transactions for US clients. The firm has raised USD16 billion in capital from North American LPs in the past three years, which represents over 40 per cent of the total commitments it has raised globally across
The Alternative Investment Management Association (AIMA) and its private credit affiliate, the Alternative Credit Council (ACC), have published new guidance for fund managers in valuing their investments.
The new AIMA Guide to Sound Practices for the Valuation of Investments contains a series of recommendations regarding valuation governance, transparency, procedures, processes and systems and sources, models and methodology.
A number of recommendations from the guide’s previous edition in 2013 have been updated to reflect the evolving valuation process and changes in the regulatory environment, including the Alternative Investment Fund Managers Directive (AIFMD).
Additionally, the industry has become more diversified
Alter Domus, a provider of Fund and Corporate Services to alternative investment managers, has completed the acquisition of Cortland Capital Market Services (Cortland) in the US.
Headquartered in Chicago and with offices in New York, London, Los Angeles, Austin, Indianapolis, and China, Cortland is a leading independent investment servicing company providing third-party fund administration and middle and back-office outsourcing to financial institutions, including alternative investment managers, real estate private equity firms and credit funds. It currently has over USD200 billion of assets under administration.
The firm was founded in 2008 by Doug Hart CEO, Russ Goldenberg, Tim Houghton and
Lithium Werks has acquired the original A123 Systems manufacturing plants located in Changzhou, China.
These plants were the first to introduce the revolutionary NanoPhosphate technology in the form of cylindrical cells that have been used globally in a wide array of applications, especially in the industrial market. As part of the transaction, Lithium Werks has taken over the customer relationships in China, Europe and the United States as well as the operations, staff and product designs associated with the Changzhou business. Lithium Werks is also the new owner of the POWER. SAFETY. LIFE. trademark that characterised A123’s product portfolio in its early
Cathay Capital Private Equity (Cathay), Total Energy Ventures (Total), and Hubei High Technology Investment Guiding Fund Management (Hubei), are to launch the Cathay Smart Energy Fund, an investment fund dedicated to the new energy sector in China.
The fund will focus its investments on emerging technologies and new business models of the Chinese energy sector, notably renewable energy, energy internet, energy storage, distributed energy, smart energy and low carbon activities. To launch this new vehicle – and Cathay Capital’s second RMB industry fund – Total and Hubei will respectively invest around RMB300 million (USD50 million). Ultimately, the fund targets a
Narrow Gauge Capital (NGC) has completed the acquisition of Class Appraisal, a provider of real estate asset valuation and appraisal management solutions to the US residential mortgage industry.
Class is one of the fastest-growing and most respected companies in the industry, offering its clients the highest levels of service and performance in the appraisal management process.
“Class Appraisal is a tremendous company that offers the absolute best service model that we have seen in the appraisal management business,” says Adam Doctoroff, partner at NGC. “Class has developed an incredible company culture, operational excellence, and a trusted partnership with industry-leading
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