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Despite a slow start in the first half of 2017, the private equity secondary market turned up the gas in the second half of the year, reaching all-time record volumes of over USD50 billion, according to Cebile Capital.
As demonstrated by 2017 trends, it is evident that the market is forking between smaller players and larger secondaries buyers with both investment and human capital resources to repeatedly source and process larger transactions. And even though transactions within USD250 million still characterise three-quarters of the market, larger players tend to complete fewer transactions, concurrently deploying more capital, notably in the GP-led
A new report by CEPRES based on analysis of private equity of almost 4,000 private equity co-investments carried out over the last 17 years, has revealed a 20-fold increase in the number of deals in that period.
The report details the returns generated across different regions, market segments and stages including Buyout, Venture, Private Debt and Real Assets. The analysis was done in PE.Analyzer and compared Co-Investment outcomes versus 40,000 direct GP deals across 4,089 funds covering some USD15.5 trillion of private investments. The analysis shows the massive growth in use of Co-Investment strategies and their outcomes across different market
A fund managed by Ares Management’s Private Equity Group has acquired Convergint Technologies, a global independent security integrator, from investment funds affiliated with KRG.
Terms of the transaction have not been disclosed.
Based in Schaumberg, Illinois, Convergint provides comprehensive security integration and fire and life safety services in more than 80 locations across four continents. Since its founding in 2001, Convergint has grown to employ more than 3,400 colleagues as the business continues to expand its security offerings and geographic footprint. Central to this growth is Convergint’s strong corporate culture, which focuses on providing best-in-class service to meet its
French private equity investor Activa Capital has promoted Emma France to Associate for ESG and Digital Transformation. Her mission, under the responsibility of Christophe Parier, Partner, will be to strengthen the ESG process within Activa Capital as well as in all its portfolio companies.
France joined Activa Capital in 2017 as an ESG Analyst in charge of creating ESG roadmaps for Activa Capital’s portfolio companies. Her role was to guide the portfolio and Activa Capital in all areas related to ESG: best practice audits, launching and steering of specific projects and the evaluation of their results.
The aim of
Pamlico Capital (Pamlico) has completed a growth investment in Connexin Software, trading as Office Practicum (OP).
Co-founder and CEO Gregory H Anderson and the OP management team will maintain a significant ownership position and continue to manage the growth of the Company with support from Pamlico. Further transaction details have not been disclosed.
“As we enter the second phase of healthcare information technology adoption, both doctors and investors have come to appreciate the value and ROI of specialty solutions,” says Gregory H Anderson, CEO of OP. “Six years ago, Bluff Point Associates helped a passionate group of entrepreneurs build
UK private equity house Maven Capital Partners (Maven) has appointed Andy Povey and Raj Minhas as Investment Managers to help manage the Maven MEIF Debt Fund team in the West Midlands.
Based in Birmingham, Povey and Minhas have responsibility for new MEIF investments across the West Midlands, as well as managing portfolio investments across the region.
Povey joined Maven in 2017 following a long career in SME investment and banking. He was previously a Director with SME investor Seneca Partners in Birmingham, sourcing and managing debt and equity transactions, and has extensive experience of leading a wide variety of
Verdant Leisure, which is backed by Palatine Private Equity, has acquired its eighth leisure park, Scoutscroft Holiday Centre in the Scottish Borders. The acquisition is the bespoke leisure park operator’s fourth holiday park purchase in the last 18 months.
Scoutscroft is just one mile from Coldingham Bay Leisure Park, the site Verdant Leisure purchased in early 2017.
The purchase brings Verdant Leisure’s portfolio to eight parks across southern Scotland and North East England and marks the fourth bolt-on since the company was backed by Palatine Private Equity in April 2016. This deal will continue the company’s growth strategy to
Inflexion Private Equity has backed the management buyout of Calco Group BV (Calco), a Dutch provider of outsourced IT recruitment and training services to large blue-chip corporates.
Calco focuses on the provision of junior professionals mainly to the finance and insurance sectors with clients including the main banks and the top insurance companies in the Netherlands. More recently Calco has entered into new industry segments such as consumer goods, telecoms, energy, logistics and healthcare and aims to continue to expand into these newer markets.
Founded in 2004, Calco has developed a MasterClass programme where new joiners are intensively trained
Offshore law firm Carey Olsen has advised entities managed by The Carlyle Group and affiliates of Värde Partners on the AUD1.2 billion restructure and recapitalisation of the Bis Industries group, an Australian resources logistics and materials handling provider.
The transaction, implemented via two Australian creditors’ schemes of arrangement and a subsequent recapitalisation through a partial debt-for-equity swap, sees Bis cut its total debt from approximately AUD1.2 billion to approximately AUD280 million (plus AUD38 million of finance leases). As a result of the transaction which has received both shareholder and court approval, senior secured creditors (including entities managed by Carlyle and
The State Street Global Exchange Private Equity Index (GXPEI) closed the third quarter of 2017 with a solid performance of 3.85 per cent with Buyout Funds continuing to lead private equity strategies in gains.
The GXPEI is based on directly-sourced limited partnership data and represents more than USD2.7 trillion in private equity investments, with more than 2,800 unique private equity partnerships, as of September 30, 2017.
“Momentum is the name of the game in the third quarter of 2017,” says Will Kinlaw (pictured), senior managing director and global head of State Street Associates®, a division of State Street Global
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