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Global Infrastructure Partners’ (GIP) third equity fund, Global Infrastructure Partners III, is to acquire NRG Energy’s integrated US renewable energy platform, including its controlling stake and 46 per cent economic interest in NRG Yield, as well as NRG’s renewable energy operations and maintenance (O&M) and development businesses.
GIP is acquiring the business for USD1.375 billion in cash, subject to certain adjustments. In addition, GIP has agreed to provide backstop support for NYLD’s agreed purchase of the Carlsbad Energy Center project.
NYLD has the largest project portfolio (by installed capacity) among US power “yieldcos” and is the second largest by
A new report entitled ‘Alternative Investments 3.0 – digitize or jeopardize’ from KPMG International and CREATE-Research finds that digital technologies are radically reshaping the alternative investment industry, but a large majority of hedge funds and private equity firms appear to be too slow to respond.
The report was based on a global survey of 125 hedge funds and private equity firms and conducted by KPMG International and CREATE-Research.
While 98 per cent of respondents say ‘business as usual’ is not an option, at least three out of five respondents said they are still at the nascent stage of ‘awareness raising’
Kirkland & Ellis advises Alteri Investors on the acquisition of CBR Fashion Group from Swedish financial investor EQT. The purchase agreement has been signed subject to customary closing conditions.
The parties have agreed not to disclose the purchase price.
Alteri Investors is a specialist investor in the European retail sector. It was launched in November 2014, with investments from funds managed by affiliates of the leading alternative investment manager Apollo Global Management, LLC.
Founded in 1980, CBR Fashion Group is with its two established brands, Street One and CECIL, one of the top five women’s fashion manufacturers in Germany.
Muzinich & Co has appointed John Clifford to its European private debt team.
Based in London, Clifford will be focused on origination and deal sourcing in the UK lower mid-market. John has over a decade of experience in UK mid-market lending. Previous roles include Managing Director in Investec Bank’s Growth and Acquisition Finance division and a Partner at independent corporate finance boutique Livingstone Partners.
“Private debt continues to be an ever more accepted and utilised funding solution in the UK and across continental European markets,” says Grant Davidson, Co-Head of Private Debt UK. “John’s expertise, network and experience
Analysis carried out by Results Healthcare, a corporate advisory firm focused on public and private healthcare and life sciences companies, reveals high multiples paid for businesses in the healthcare services sector.
Valuations have increased across the spectrum of pharmaceutical outsourcing businesses, which include digital health, outsourced pharmaceutical research and clinical trial businesses, with the average EBITDA multiple paid by private equity 11.9x, since the beginning of 2013.
Martin Gouldstone, Partner at Results Healthcare, says: “We are seeing that comparative processes and the scarcity of good quality pharmaceutical services businesses are driving up valuations. Given the amount of dry powder
Drooms, a specialist in secure cloud solutions for the exchange of confidential documents, has supported B & Capital with its data room solution during the launch of the RB Capital France 1 fund marketing campaign.
B & Capital’s objective with this fund is to provide support for 10 or more French SMEs as part of their rapid expansion and transformation strategies. The companies have valuations in the range of EUR 20-100 million and are involved in sectors with particularly promising prospects including: healthcare, distribution, technology, specialist industries and the environment.
The companies supported by B & Capital will also
Aberdeen Standard Investments has launched its first comprehensive private markets solution for investors, targeting a return of 9-12 per cent per year (net of fees) over a rolling seven year period.
The new fund will invest in a diversified global mix of private equity, infrastructure, real estate and private credit.
The Global Private Markets Fund (GPMF) harnesses the full depth and breadth of Aberdeen Standard Investments’ private markets investment platform, bringing together the expertise and experience of around 380 investment professionals able to source opportunities for clients on a global scale. The fund has launched with GBP138 million.
THL Credit Advisors (THL Credit) has named Brian Murphy (pictured), as Head of Capital Markets. Murphy, who is based in Chicago, is a Managing Director and Senior Portfolio Manager for THL Credit’s Tradable Credit strategy.
In this newly created role, Murphy will be responsible for overseeing all of THL Credit’s capital markets activities, including sourcing investment opportunities from banks and lenders and managing excess risk across THL Credit’s Tradable Credit and Direct Lending strategies.
Murphy has more than twenty-four years of investment industry experience, principally in the area of leveraged finance. Mr. Murphy joined THL Credit in 2012 in connection
Ocorian, a global provider of specialist financial services backed by private equity firm Inflexion, is to acquire ABAX, an advisory, corporate and business services provider based in Mauritius.
The acquisition will significantly extend Ocorian’s service range and delivery capability into Africa, Asia and the Middle East and swell its international team to 700 plus staff – including additional representation in Côte d’Ivoire, Dubai, Mauritius, Singapore and South Africa.
In turn, ABAX clients will now be able to access a much wider range of specialist alternative investment, corporate and private client services, across both onshore and offshore locations in Europe
Blue Ox Healthcare Partners, a private equity firm investing growth capital in the healthcare industry, has taken a 30 per cent stake in RX Solutions which aims to allow consumers to gain access to fixed and/or reduced cost prescription drugs.
RX Solutions serves consumers in the US who have an income in the 200-400 per cent range of the Federal Poverty Level.
RX Solutions serves consumers by identifying Prescription Assistance Programs (PAPs) specific to their medication needs and then follows them throughout the process to secure the subsidies and medications. RX Solutions facilitates the enrolment for these programs and
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