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The German mid-cap LBO market experienced another year of significant growth in 2017, according to the latest MidCapMonitor by GCA Altium which analyses leveraged buyout finance transactions with a credit volume of between EUR20 million and EUR500 million.
There were a total of 100 such transactions for the entire year of 2017, representing a rise of 30 per cent compared with the previous year.
The growth was fuelled in particular by debt funds, which produced a gain of 166 per cent with 32 transactions. Generating 68 transactions, banks financed just three more deals than they did in the previous
Independent private equity fund administrator Gen II Fund Services has promoted two team members to Principal – Shawn McMenimen and Stephen Ho.
McMenimen has senior level oversight responsibility for Gen II’s client service teams and is directly involved in managing key client engagements. He also has responsibility for the oversight over Gen II’s compliance department. Shawn has over 17 years of private equity fund administration experience.
Ho is responsible for running Gen II’s San Francisco service centre. His professional team provides fund administration services for clients throughout the western region of the United States. Ho has more than 15
Waterland Private Equity has sold its stake in PREMIUM Group to Clarion Events.
PREMIUM Group is a German organiser of trade fairs, conferences and events in and around the fashion sector. The group’s formats include a number of fashion trade fairs, such as PREMIUM, SEEK, BRIGHT and Show & Order. Anita Tillmann will remain in her position as CEO and Managing Partner of the PREMIUM Group.
“We are delighted that, with Clarion Events, we have found a new strategic owner from the trade fair world that will continue to drive the growth of PREMIUM Group. We would like to
The Nexxus Iberia Private Equity Fund I has successfully completed its first closing with EUR130 million of capital commitments, out of a target size of EUR200 million.
The first closing of the Fund was reached with both recurring investors of Nexxus and new Limited Partners, reflecting the confidence in the solid experience of Nexxus Iberia’s dedicated team in Spain, the robust track record of both Nexxus Iberia team and Nexxus previous Funds, and the unique Latin American angle brought by the partnership with Nexxus. The Limited Partners of the Fund at the first closing include institutional investors, as well as
CIFC, a credit manager specialising in US corporate and structured credit strategies, has appointed Jay Huang as a Managing Director, Senior Portfolio Manager and Head of Structured Products Investments.
Huang (pictured), will oversee CIFC’s structured products investments business.
CIFC says Huang’s appointment is a key strategic move that will further bolster the firm’s investment expertise and market presence in the structured products space.
Previously, Huang served as Managing Director and Global Head of CLO, CDO and Distressed SIV Trading for Citigroup Global Markets, a business he built to become the top revenue-generating business within the firm’s Structured Credit
Bunker Hill Capital, a Boston-based private equity investor in lower middle market companies, has sold portfolio company, Rizing, to One Equity Partners.
Rizing is a privately held international company that provides leading SAP functional and technical consulting services to its customers.
Rufus Clark, a Managing Partner of Bunker Hill Capital, says: “We are grateful to all who have made Rizing such a successful company, and in particular to Mike Maiolo and Carl Graves, who provided the leadership to integrate three separate global businesses. We would also like to congratulate Luc Hédou, Steve Hatcher, and Tom Dey, co-founders of the
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
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