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Almost three-quarters (73 per cent) of chief financial officers (CFOs) and chief operating officers (COOs) at UK-based private equity and venture capital firms expect levels of dry powder – money raised but not yet invested – to climb further in 2018 as the rate of inflows remains high and attractively valued deals hard to come by.
Surveyed at the BVCA reception event for private equity CFOs and COOs, almost half (45 per cent) said they expect the private equity fundraising climate in 2018 to resemble 2017, a year that has seen General Partners attract more capital than ever. However, 41
Technology is playing a pivotal role in how fund administrators support the growing reporting needs of private equity (PE) groups. Those who have both the internal experience to handle PE funds and the technological capability to deliver effective services and reporting, are likely to be the best positioned; especially as more PE groups appoint trusted third party service providers.
The push toward using third party administrators is largely institutional-driven. As investors look to diversify their portfolios, they expect reporting from PE groups to be similar to the reports received from hedge fund managers.
“Increasingly, PE managers are choosing to not
Peel Hunt, an independent corporate broking, advisory and trading house focused on UK mid and small caps, is pleased to announce the appointment of Harry Nicholas to the role of Associate Director in its Corporate Real Estate team, effective immediately.
Nicholas joins from Jefferies Hoare Govett, where he worked as Senior Vice President in the UK Investment Banking team across a range of FTSE100, FTSE250 and small cap clients. He will be responsible for transaction execution and client relationship building to further grow Peel Hunt’s leading Real Estate franchise in the UK equity market.
Steven Fine, CEO of Peel
Upstream Security, provider of a cloud-based cybersecurity platform for connected cars and autonomous vehicles, has closed a USD9 million Series A funding round, led by CRV (Charles River Ventures).
The round included expanded investments from Israeli-based Glilot Capital Partners and Maniv Mobility. Following a USD2 million seed funding round in June, the company will use the latest investment to expand its R&D program and continue building out its world-class engineering and security research teams, and open marketing and sales offices in the United States and Europe. The company is well-resourced to secure the 60 million connected cars on the road
REYL & Cie (REYL), the banking arm of REYL Group, has made an investment alongside Social Impact Finance in the Series B funding round of Aspiration, an online banking company based in Los Angeles.
In doing so, it will join the likes of Allen & Company, Omidyar Network, Capricorn Investments, Joseph Sanberg and other leading investors in the technology space. For REYL, this reflects a concrete and designed entry into the digital banking and fintech segments as a first step to building an innovative digital banking strategy in the coming months and years.
Founded in 2015, Aspiration offers banking,
LakePharma, a US biologics company specialising in antibody and protein engineering, cell line development and protein production, has raised USD30 million in growth financing led by global growth equity investor Summit Partners with participation from existing investor Ampersand Capital Partners.
The funding will be used to enhance LakePharma’s existing service offering and grow the company’s biomanufacturing capabilities.
Founded in 2009, LakePharma provides a full range of biologics services and technology, which enables clients to accelerate product development from lead discovery to Phase 1 clinical trials.
LakePharma currently operates three laboratory centers in the Bay Area in Northern California and one
KKR has injected additional capital to support asset management services provider Joulon’s ongoing acquisition activity.
With KKR’s continued support, Joulon has completed its acquisition of Harris Pye Engineering Group Limited, a provider of engineering and project management services to the marine, offshore and industrial sectors.
Joulon’s platform provides comprehensive Asset Management services to the energy industry. The Company’s business model is based on acquiring businesses with established track records and complementary global expertise in maintenance, repair and overhaul (MRO) services to the oil and gas industry. By combining and enhancing these companies’ expertise and synergies, Joulon is able to
Inflexion Private Equity has created Halo Technology (Halo), a global vendor of optical transceivers by combining ProLabs, a UK-based business backed by Inflexion in June, with AddOn Computer Peripherals, a California-based business acquired in a transaction backed by Inflexion in November.
Operating under the Halo umbrella will allow ProLabs and AddOn to retain their existing brands while benefitting from synergies gained through the alliance. The combined group employs approx 150 people.
Halo is the world’s leading third party optical transceivers business serving blue-chip customers from its supply facilities and sales offices in the US, Europe and Asia. The market for
European buyout houses have generated more than EUR100 billion in exit proceeds for the fourth year in a row, rising 12 per cent in 2017 to reach EUR112 billion across 436 divestments.
That’s according to provisional data from the CMBOR at Imperial College Business School, sponsored by Equistone Partners Europe and Investec Specialist Bank.
This strong performance is in spite of uncertainty around Brexit progress as well as national elections in a number of Europe’s major economies, suggesting unwavering appetite from buyers for European private equity-backed assets. With an average hold period of 70 months for harvested deals, it
LeftShift has raised an initial growth capital investment from Riverside. Headquartered in London, LeftShift is an expert in IT delivery automation solutions, working with organisations such as Barclays, Etihad and Coke.
Drake Star Partners acted as the exclusive financial adviser to LeftShift in this transaction.
Founded in 2013, LeftShift are continuous delivery experts focusing on automation, testing and data management. This strategic growth capital investment from Riverside will allow LeftShift to further scale its Orson software for Test Data Management globally.
Mark Smith, LeftShift’s Co-CEO, says: “We are delighted to win the backing of Riverside who have really
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