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Tortoise has launched the Tortoise Tax-Advantaged Social Infrastructure Fund (TSIFX), a closed-end interval fund that offers investors access to the firm’s direct lending strategy that was previously available only to qualified purchasers through a private fund.
The fund will provide capital for social infrastructure projects related to 501(c)(3) organisations, non-profits and other entities authorised to issue private activity and tax-exempt bonds focused on education, healthcare, housing, industrial infrastructure, human service providers and social services, where there is currently a capital dislocation. The fund seeks to generate attractive total return with an emphasis on tax-advantaged income.
“The capital supply demand
Blackstone’s (NYSE:BX) Strategic Capital Holdings Fund has acquired a passive minority stake in PAG, a leading Asia-focused alternative investment firm.
Blackstone’s Strategic Capital Holdings Fund is part of Blackstone Alternative Asset Management (BAAM), and specialises in minority partnerships with leading alternative asset managers.
PAG, based in Hong Kong, is one of the largest independent alternative asset firms in Asia, with more than USD20 billion in capital under management in private equity, absolute return and real estate strategies.
Terms of the deal have not been disclosed.
“We welcome this investment in our business by Blackstone’s Strategic Capital Holdings
An affiliate of Sun European Partners has completed the sale of its investment in Albéa, a specialist in in the BPC packaging sector, to funds advised by PAI Partners.
Albéa was acquired by an affiliate of Sun European Partners in 2010. During such ownership there was a step change in performance, with significant capital expenditure leading to profitability improvement by over 80 per cent, along with a 600 basis point lift in margins. This was achieved through business growth with customers as well as continuous improvement, procurement and other operating initiatives.
Jerome Nomme, Managing Director of Sun European Partners,
The digital transformation of every business, from automotive through to healthcare, is driving record mergers and acquisitions deal valuations in the enterprise software and IT services sectors as companies incorporate disruptive technologies into their business models and shift to the cloud, all whilst having to secure themselves against cyber threats.
That’s according to Hampleton Partners’ latest analysis which reveals that the largest IT services deal was in the growing online payments sector, with Worldpay’s acquisition by Vantiv for USD10.4 billion, valued at a sales multiple of 1.9x and an EBITDA multiple of 18.6x.
The IT services sector aggregate disclosed
Private equity investor Equistone Partners Europe (Equistone) is to acquire a majority stake in Small World Financial Services (Small World), an international, UK-headquartered, multi-channel, cross-border payment service provider.
Small World’s investors, including FPE Capital and MMC Ventures, will sell their shareholdings in the Company as part of the transaction, with management reinvesting for a minority stake. The financial terms of the deal are undisclosed and, as Small World is regulated in multiple countries, completion of the transaction remains subject to regulatory approvals.
Small World’s technology-driven platform allows customers to make cross-border payments via its physical network of over 6,000
Meketa Investment Group, a global investment consulting firm, has expanded its employee ownership to include seven new shareholders. Principals Timothy Atkinson, Christy Gahr, Molly LeStage, Richard O’Neill, Bradley Regier, Colleen Smiley and Larry Witt have joined the firm’s ownership group bringing the total number of Meketa Investment Group shareholders to 38.
“Each of these individuals has devoted many years of service to Meketa and the financial services industry as a whole,” says Stephen McCourt, Managing Principal and Co-Chief Executive Officer, Meketa Investment Group. “In addition to their strong work ethics and knowledge of the global investment space, these men
If one looks at Private Equity & Real Estate (PERE) assets, they’ve been growing substantially over the past decade. Since December 2007, PERE assets have more than doubled from over EUR3 trillion to EUR6 trillion.
“Today we have around EUR6 trillion of committed capital invested and that is set to grow over the next few years to between EUR8 and EUR10 trillion. There are huge amounts of capital flowing into the private equity and real estate assets,” comments Ravi Nevile (pictured), Private Equity and Real Estate Portfolio Director at TMF Group.
Much of this doubling in size of PERE assets
Mobeus Equity Partners has led a GBP3.8 million funding round for SuperCarers, an online platform that’s addressing the acute UK care crisis. SuperCarers connects people seeking at-home care with experienced, independent carers.
Mobeus provided GBP2.1 million of development capital, alongside other investors, including JamJar Investments and Seneca Partners.
The UK’s elderly population is growing; the number of over-65s in the UK is expected to rise from 11.7 million in 2016 to 15.2 million in 2030. This growth in the elderly population is causing increased demand for care services. At the age of 65, one in six people has trouble with
ServiceTitan, a provider of workflow and field service management software for home-service businesses, including residential plumbing, HVAC, electrical service providers, and garage door installers, has raised USD62 million in Series C funding in a round led by Battery Ventures.
Existing investors Bessemer Venture Partners and ICONIQ Capital also participated in the financing. As part of the transaction, Battery General Partner Michael Brown will join ServiceTitan’s board.
“We’re thrilled to deepen our partnership with Battery, who have decades of experience in specialized software markets,” says Ara Mahdessian, co-founder and CEO of ServiceTitan.
ServiceTitan provides a state-of-the-art software platform that allows home-service
Blackstone’s Strategic Capital Holdings Fund has acquired a passive, minority equity interest in Kohlberg & Company.
Blackstone’s Strategic Capital Holdings Fund is part of Blackstone Alternative Asset Management (BAAM), the firm’s hedge fund solutions business, and specialises in acquiring stakes in leading alternative asset managers. Terms of the transaction have not been disclosed.
Based in Mt Kisco, New York, Kohlberg is a leading private equity firm specialising in middle market investing. The minority investment from Blackstone will help provide long term capital to support Kohlberg’s investing platforms.
Sam Frieder, Managing Partner of Kohlberg, says: “We are proud to
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