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While US private equity deal volume levelled off last year, falling to levels not seen since 2013, valuation for private equity deals advanced considerably, according to the 2018 Private Equity Valuations Report from Murray Devine.
The research; ‘Acclimatising to the Thinning Air’, which examines trends in financial sponsor-led transactions and highlights how private equity investors are adjusting to record deal multiples, reveals a median multiple of 12.9x EBITDA, easily surpassing 2016 levels and also exceeding the previous high of 10x EBITDA set in 2006.
“The divergence in which deal volume retracts as valuations ascend typically reflects a flight to
Tikehau Capital has concluded a funding facility agreement of EUR115 million for a period of three years with the Conforama Group, a major European player in household equipment.
The Conforama Group now has almost EUR200 million of additional liquidity, ensuring its long-term financial independence and stability. This will allow the group to continue to carry out its multichannel development projects, in France and in each of the countries where it operates.
The Conforama Group is a major player in household equipment in Europe, both in-store and online. It has 14,000 employees and operates 315 stores, of which 224 are
Private markets asset manager Portfolio Advisors (PA) has closed its third private equity secondary fund, Portfolio Advisors Secondary Fund III (PASF III), at USD1.5 billion in limited partner commitments.
The fund, which had an original target of USD1 billion, was oversubscribed and reached its hard cap due to strong support from new and existing limited partners from around the globe. A significant portion of PASF III’s capital was committed by limited partners who had previously invested in one or more of PA’s existing funds. This is the largest fund closed to date for PA.
“We’re very pleased with
New York Life Ventures, the corporate venture capital arm of New York Life, has surpassed USD200 million in committed capital in its mission to increase the pace and impact of innovations that drive value for the company’s policy owners and clients.
Since the team’s founding in 2012, New York Life Ventures has made 29 venture capital investments, worked with over 100 start-ups to facilitate “proof of concept” tests with teams across New York Life, and formed strategic partnerships with a select number of these businesses. The venture unit offers its partners a fully staffed research and development lab to explore
Denver-based private equity firm Mountaingate Capital (Mountaingate) has appointed JB Richardson and Trent Sisson as Principal and Vice President, respectively. Both previously worked closely with the partners of Mountaingate at their predecessor firm.
“We are thrilled to welcome JB and Trent to Mountaingate and to have the opportunity to work with them again. Our relationships with them go back over a decade. They are insightful investors and after starting their careers in investment banking and private equity, they have each gained invaluable experiences as operators in private equity backed and venture backed companies. Their experience in operations, technology, analytics, sales
Karbone Inc, a financial services firm that caters to power generation and energy markets, has acquired Watts Capital, a New York-based investment bank and broker dealer specialising in capital raising and strategic advisory for companies in the technology, clean tech and broader energy sectors.
“Acquiring Watts Capital and its team of industry veterans is key to our growth strategy and has immediately broadened our Capital Advisory project/company pipeline and investor universe,” says Rich Weihe, A Managing Partner and Head of Karbone’s Capital Advisory division. “We’ve been very successful running sell-side asset mandates and various capital raises across the renewable/conventional spectrum and these new capabilities allow
Freeformers, which helps companies and individuals adapt to workplace challenges generated by flexible work, automation and digital transformation, has raised GBP1.2 million of investment from leading UK social impact fund Impact Ventures UK (IVUK).
The investment by IVUK is significant in bringing substantial growth capital to a major profit and purpose business with a focus on workforce transformation to support its scaling both in the UK and internationally.
Founded by Gi Fernando, Freeformers works globally with corporates and institutions – including HSBC, Barclays, Tesco and the Ministry of Justice – to ensure that their workforces are adapting to the
Alternative investment management firm Tennenbaum Capital Partners has closed TCP Direct Lending Fund VIII and its affiliated vehicles (DLF VIII) with more than USD1.9 billion of investor equity commitments.
DLF VIII is a continuation of TCP’s more than seventeen-year track record in US middle-market direct lending. TCP is pleased to welcome a wide variety of existing and new investors including pension, endowment, foundation, insurance, sovereign wealth and family office commitments domestically and globally. We also welcome the participation of a wide range of investment consultants that recommended TCP to their institutional investor clients.
Lee R Landrum, Managing Partner of
White Oak Equity Partners (White Oak), a private equity firm that purchases minority GP interests in alternative asset managers, has acquired a minority interest in Blueshift Asset Management, a quantitative investment firm focused on statistical arbitrage and high-frequency trading strategies.
White Oak led a group of strategic investors who provided the equity capital to launch Blueshift’s business and trading activities. Terms of the transaction have not been disclosed.
Prior to launching the Firm, the Blueshift team, led by Chief Executive Officer and Chief Investment Officer Mani Mahjouri (pictured), managed the asset management activities of Tradeworx, a financial technology firm.
Coinsilium Group Limited, a blockchain venture builder and investor that finances and manages the development of early-stage blockchain technology companies, is launching a private fund to hold the the digital assets and tokens the Company has received to date in relation to its advisory services and investment activities.
The new fund, which will be 100 per cent owned by Coinsilium, will be established in Gibraltar which has just launched its Distributed Ledger Technology (DLT) Regulatory Framework. The Company is being advised by Gibraltar blockchain specialist law firm ISOLAS on the formation and structure of the fund.
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