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INDOS Financial Limited (INDOS), a UK independent depositary, has passed the milestone of undertaking depositary services for 100 alternative investment funds with assets over USD20 billion.
These figures represent a substantial growth in the business of 37 per cent in the number of funds (from 73) and 54 per cent in assets under depositary (from USD13 billion) since end-December 2016.
Bill Prew (pictured), INDOS CEO explains that the added value arising from the employment of an independent depositary, as opposed to a depositary affiliated to the fund administrator, was becoming increasingly recognised by fund managers, fund directors and investors.
A team from Noerr led by Georg Schneider has assisted private equity funds advised by Orlando Management AG in the sale of TierOne Beteiligungs GmbH to HIG Capital.
TierOne is a holding company which holds a majority stake in the automotive supplier Beinbauer.
The Beinbauer Group primarily specialises in components for commercial vehicles and consists of Beinbauer Automotive and Wagner Automotive, which together have around 700 employees at four sites.
French private equity investor Siparex enjoyed a record year in 2017 with EUR206 million in investments and EUR213 million in exits reflecting contributions from all of the company’s business segments.
The Group’s strong activity in 2017 confirms the pertinence of the Siparex model featuring five business segments (Midmarket, Midcaps, Small Caps, Innovation, and Mezzanine) spanning the entire corporate growth cycle. All business segments have contributed to the Group’s strong growth in recent years. The record amount of funds raised, EUR330 million, has accelerated the increase in assets under management, which now totals EUR1.8 billion.
Investments passed the EUR200 million
Tortoise Investments in conjunction with existing management has completed the buyout of Tortoise.
As part of the transaction, the existing management and employees have increased their equity ownership of the company, with many investing additional capital alongside Lovell Minnick, who purchased the equity stake held by Mariner Holdings and certain retiring co-founders of Tortoise. Tortoise will maintain its independence and autonomy with its brand, investment processes and day-to-day portfolio management remaining unchanged.
“We are excited to set course with our new partner,” says Tortoise co-founder and Chief Executive Officer, Kevin Birzer. “The asset management expertise and global network
Gridiron Capital has promoted Kevin Jackson to Managing Partner alongside Tom Burger and Gene Conese. Jackson was previously part of the Firm’s investment committee and will continue in that capacity.
Jackson joined Gridiron Capital in 2010 as a Vice President and was promoted to Managing Director in 2012 and Senior Managing Director in 2017. He is a Director on the Boards of several of Gridiron Capital’s portfolio companies including Dent Wizard, Rough Country and Tokyo Joe’s and was a Director on previous Gridiron Capital portfolio companies Performance Health, McKenzie Sports Products and Electronic Systems Protection.
Burger, Co-founder and Managing
Clayton, Dubilier & Rice (CD&R) is to acquire all of the outstanding shares of Ply Gem common stock in a go-private transaction valued at approximately USD2.4 billion.
Ply Gem Holdings, Inc. (NYSE:PGEM), is a leading North American building products manufacturer.
Ply Gem’s board of directors unanimously approved the agreement, which provides for the payment of USD21.64 per share in cash to all holders of Ply Gem common stock. The cash purchase price represents a premium of approximately 20 per cent over Ply Gem’s closing stock price on January 30, 2018. Promptly following entry into the agreement, stockholders holding greater
HSBC Alternative Investments Limited (HAIL) has launched the HSBC Diversified Loan Fund, combining both loan investing and direct lending within a fully managed, alternative credit solution.
With circa USD550m raised so far, the first close for the fund was held on 31 October 2017 and the second one on 19 January 2018. The final close is planned no later than April 2018.
The fund is a diversified, core loan solution for client portfolios and will primarily invest in floating rate, senior secured credit instruments such as syndicated loans, as well as senior secured and unitranche loans to middle market
A number of significant natural resources transactions in the latter part of last year are representative of an upshift in deal activity across the sector, according to M&A specialist Tony Lane of offshore law firm Carey Olsen.
Lane, a partner in Carey Olsen’s Guernsey corporate team, has advised Bushveld Minerals Limited (Bushveld), Avnel Gold Mining Limited and Sandstorm Gold Ltd on recent deals, while Clinton Hempel, managing partner of Carey Olsen’s BVI office, advised Cora Gold on its recent listing on the London Stock Exchange’s (LSE) AIM Market.
Lane says: “There appears to be a growing appetite amongst those
An affiliate of HIG Capital (HIG) has acquired Town & Country Holdings (T&C), the parent company of Town & Country Living.
Founded in 1954 and headquartered in Lakewood, NJ, T&C is the recognised leader in home textiles specializing in table linens, kitchen textiles, rugs, and innovative solution-based home products. The company is a leading supplier of both licensed brands and private label programs to major retailers across the globe.
“David and Jeffrey Beyda have successfully positioned T&C as a true partner to its customers and licensors. We believe T&C’s existing product and service offerings provide a great foundation for
The Montreux Healthcare Fund has completed the purchase of Active Assistance, a provider of care and support for individuals with complex neurological conditions.
Active Assistance provides specialist care to individuals with acquired brain injury (ABI) and spinal cord injury (SCI) in domiciliary and residential settings. Active Assistance also owns the UK’s largest Case Management Group, serving clients with an acquired brain injury and other neurological conditions, throughout the care pathway.
The acquisition constitutes the second major transaction to complete within the last month for the fund, following the sale of The Regard Group earlier in the month. Active
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