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Horseshoe Group has acquired IKONIC Fund Services (IKONIC) to form an independent fund administrator and insurance manager dedicated to both the Insurance Linked Securities and the alternative fund markets.
The transaction, which closed last week subject to customary regulatory approvals, will further solidify Horseshoe’s stance as the largest independent insurance manager to the Insurance Linked Securities (ILS) market and expand its service offering to now include fund administration. Post-acquisition, Horseshoe will have in excess of USD20 billion in assets under administration.
IKONIC, an independent, specialised fund administrator providing services to hedge funds, private equity funds, real estate funds and ILS
- 13/06/2016
Since the global financial crisis in 2008 when an all-time high USD9.3 billion was raised, micro venture capital fundraising has seen six consecutive years of growth, increasing from USD6.5 billion in 2009 to reach USD8.5 billion in 2015, according to a report by Preqin.
Furthermore, over the past decade micro venture capital funds have consistently represented the majority of VC funds reaching a final close; micro-sized funds accounted for 61 per cent of all venture capital funds to close in 2015 and more than two-thirds (67 per cent) the previous year. So far in 2016, 169 micro venture capital funds
- 13/06/2016
- 13/06/2016
Bento for Business, a provider of employee expense management solutions for small businesses, has closed a USD7 million Series A round of funding led by Comcast Ventures.
Existing investors Anthemis Group, Blumberg Capital and Lionbird join new investor Dan Henry, former CEO of NetSpend. As part of the financing, Dave Zilberman, Managing Director of Comcast Ventures, will join Bento’s board.
Bento for Business provides a management platform and smart employee corporate card that can be controlled remotely through proprietary software, giving business owners unprecedented control over where, when, and how much their employees can spend. Since its launch 13
- 10/06/2016
Only one-third of registered investment advisers (RIAs) have provided private equity investments to their wealthy clients within the last five years, according to a new study by iCapitak Network.
The study also found that nearly 70 percent of those who do not currently offer private equity acknowledge interest from their clients in the area. Despite the appetite, just one-quarter of those practitioners say they have proactively raised the subject of private equity with clients.
“The surge in private wealth creation has directly influenced a trend toward more transparent, objective financial advice,” says Lawrence Calcano, Managing Partner, iCapital Network. “As a
- 10/06/2016
Zeus Capital is acting as Nominated Adviser and Sole Broker to Accrol Group Holdings (ACRL.L) on its AIM IPO and GBP63.5 million fundraising and advised on a new GBP38 million flexible debt facility provided by HSBC.
Accrol will have a market capitalisation on admission of GBP93.0 million (based on the placing price) with Zeus Capital raising GBP63.5 million with GBP20.2 million for selling shareholders and GBP43.3 million to reduce debt, including shareholder loan notes.
The IPO provides a partial exit for the Hussain family and NorthEdge Capital who each retain 15% of the equity in the listed company going
- 10/06/2016
- 10/06/2016
Oakley Capital Private Equity (OCPE) has announced the successful completion of the Initial Public Offering (IPO) of Time Out Group, which raised GBP90 million (gross).
Since OCPE’s initial investment, Time Out has significantly grown and developed its digital media and ecommerce business, transitioned the magazines to a free print model in key geographies, consolidated the brand ownership by acquiring back the key licensee territories and acquired the Time Out food market in Lisbon, Portugal.
Time Out now has its largest audience in its 48 year history with an audience reach of approximately 111 million per month across all platforms
- 10/06/2016
- 10/06/2016
Maranon Capital has provided unitranche financing to support the acquisition of a majority interest in Wedgewood Pharmacy by New Harbor Capital.
Wedgewood, headquartered in Swedesboro, New Jersey, is an industry leading provider of compounded medications to pet owners through more than 36,000 veterinarian customer relationships across the United States.
The company offers preparations for the companion animal, equine and specialty ophthalmology markets.
- 10/06/2016
Antares Capital announced is serving as administrative agent and joint lead arranger on a USD136 million senior secured credit facility to support the acquisition of Meadows Behavioural Healthcare (The Meadows) by Kohlberg & Company (Kohlberg).
Upon the acquisition of The Meadows, Kohlberg announced the formation of Alita Care (Alita), which will serve as the parent holding company for The Meadows and Kohlberg’s existing portfolio company, Sunspire Health, LLC (“Sunspire”). The Meadows and Sunspire will continue to operate as independent brands within Alita, while exploring ways to improve patient care through the sharing of best practices.
“We are thrilled to be
- 10/06/2016
More securitisations are needed to finance economic recovery in Europe, according to Richard Ambery, who has been appointed as General Counsel by boutique asset manager Managing Partners Group.
Ambery, who is a globally recognised and award-winning thought leader in structured finance law and a key contributor to Malta’s securitisation legislation, believes the instruments, which can offer returns of over 5 per cent per annum, will also fill a ‘yawning gap’ in product offerings to investors as they seek higher current yields in an era of flat or negative “risk free” rates.
He says: “Governments in Europe are realising, perhaps a
- 09/06/2016
Private equity firm TA Associates has completed a growth equity investment in Maintenance Connection, a provider of computerised maintenance management system (CMMS) software. Financial terms of the transaction have not been disclosed.
Maintenance Connection’s web-based CMMS platform is designed to manage all aspects of an organisation’s asset maintenance operation, with the goal of optimizing asset life and lowering the overall cost of maintenance. Primary features of the software suite include work order tracking, asset management, preventative maintenance, service requests, inventory control and reporting. The software can be deployed on-premises, via a software as a service (SaaS) model, or in a
- 09/06/2016
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