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Warburg Pincus has successfully closed the Warburg Pincus Financial Sector fund with USD2.3 billion in capital commitments.
The Fund, which launched in June 2017 with a target of USD1.6 billion, is a companion fund to Warburg Pincus XII, LP, a USD13.4 billion private equity Fund that closed in late 2015.
The Warburg Pincus Financial Sector Fund will invest in financial services opportunities sourced through the firm’s global investment platform, seeking to partner with entrepreneurs and management teams to build companies of sustainable value.
Warburg Pincus is one of the first private equity firms to invest in financial services,
AMP Capital’s Infrastructure Debt team has closed a EUR245 million mezzanine debt investment with France-based renewable energy provider Neoen.
Neoen is headquartered in Paris and active across the renewables space including solar and wind, and currently operates in ten countries including France, Australia, Mexico and Argentina. It is the largest independent producer of renewable energy in France, and the third largest overall energy provider in the country.
The mezzanine financing was closed in three cross-collateralised currency tranches (EUR, USD and AUD) on 14 December 2017, and has been validated as a Green Bond following ESG (Environmental, Social and Governance) due diligence by Vigeo,
San Francisco-based GI Partners’ approach can best be visualised as a martini glass when it comes to screening North American middle market companies for potential investment. Whilst the number of target acquisitions is substantial, by the time the team has done its necessary due diligence and deep prosecution, it soon shrinks.
“We are control-oriented,” says Philip Yau (pictured), Managing Director, who joined GI Partners this January and who, among other things, oversees the firm’s capital formation efforts. “The aim is to drive as much of the value-add playbook that we’re trying to achieve as possible. There are many different types
Old Mutual Wealth has agreed to sell its Single Strategy asset management business (Single Strategy business) to the existing Single Strategy Management team and funds managed by TA Associates, for GBP600 million.
The deal will see TA Associates pay GBP570 million payable on or before completion, with approximately GBP30 million anticipated to be payable primarily between 2019 to 2021 as surplus capital associated with the separation from Old Mutual Wealth is released in the business. This deferred consideration is not subject to performance conditions.
Once the transaction completes, economic ownership of the Single Strategy business will pass to the
Alternative assets platform CoInvestor has made three senior hires to its client team to bolster the rapid adoption of its software as a service for financial advisers and fund managers.
The company has appointed Darren Fletcher formerly at Intelliflo, a supplier of financial adviser software; Ella-Louise Houghton from Thomson Reuters, and Declan Blackwood from Coutts, the private bank. The expertise they bring from financial services and technology will further enhance CoInvestor’s ability to provide innovative solutions to meet the challenges advisers and investors face.
Launched at the end of 2015, CoInvestor is transforming the management of alternative assets by
Gresham House, the specialist alternative asset manager, has appointed Simon Stilwell as a Non-Executive Director effective 18 December 2017.
With over 20 years’ experience in the City, Stilwell was, until 2015, Chief Executive of Liberum, the investment bank that he co-founded in 2007. Prior to Liberum, Simon was Head of Sales for Small Companies at Collins Stewart plc and was also a Director at Beeson Gregory Limited. Stilwell is currently CEO of Vitesse Media Plc, an AIM listed digital media and events business.
Stilwell replaces Peter Moon who is stepping down from his position on the Board of Gresham
The AES Corporation (AES) is to sell its entire 51 per cent equity interest in Masin-AES Pte Ltd, a subsidiary of AES that owns AES’ business interests in the Philippines, to SMC Global Power Holdings Corp (SMC Global Power) for USD1.05 billion in proceeds to AES.
The sale includes AES’ 51 per cent equity interest in the 630 MW Masinloc coal-fired power plant in operation, the 335 MW Masinloc 2 coal-fired power plant under construction and the 10 MW Masinloc energy storage project in operation.
“We are very proud of our operational and commercial success in the Philippines, enabling
Mid-market private equity firm Graphite Capital has sold its investment in Corbin & King, a London-based restaurant group.
The sale forms part of a wider transaction in which Minor Hotels, one of the largest hospitality and leisure groups in the Asia-Pacific region, took a majority interest in the group. Minor is best known as the operator of Anantara hotels.
In 2012 Graphite provided development finance to fund the company’s expansion. At the time Corbin & King operated two restaurants: the Wolseley which had been open since 2003 and the recently opened Delaunay. Both have continued to grow strongly. Subsequently
Palatine Private Equity has invested in ZyroFisher, a cycling parts and accessories distributor, alongside mid-market private equity investor LDC.
ZyroFisher was originally formed in April 2016, when LDC backed the management buyout of Zyro and supported the simultaneous acquisition of Fisher Outdoor Leisure. Based in Darlington, the business supplies major retailers such as Wiggle, Halfords and Evans as well as over 2,000 independents, providing a route to market for dozens of specialist brands with best in class sales, marketing, distribution and customer services support.
Over the past 18 months, the team has successfully integrated the two separate companies and
alphabroder, a North American distributor of imprintable sportswear and accessories and portfolio company of Littlejohn & Co, has closed its acquisition of Prime Line, a manufacturer and supplier of promotional products for more than three decades.
Since its founding in 1980, Prime Line has introduced many innovative products and services and today offers more than 1700 products across 16 categories. It features exclusive brands such as MopToppers, Leeman New York, Rubik’s® and BUILT as well as numerous product collections. In 2016, it acquired Jetline, which was rebranded as Prime Line’s value line. Source Abroad by Prime is the company’s custom
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