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Churchill Asset Management (Churchill), a provider of senior and unitranche debt financing to private equity-owned middle market companies, has completed fundraising for Churchill Middle Market Senior Loan Fund, its inaugural fund as part of Nuveen, with over USD1.1 billion in committed capital.
“We are delighted with the strong response we received from investors across the globe to our inaugural fund offering as part of Nuveen. Our investors include over 30 leading institutions and family offices globally, and we are grateful for their confidence in us and support for our investment approach,” says Ken Kencel, President and CEO of Churchill. “As investors increasingly look
The UK continues to be one of the world’s most attractive destinations for infrastructure investment, according to the CMS Infrastructure Index: ‘A new direction’, which this year ranks 40 jurisdictions in order of infrastructure investment attractiveness according to six key criteria.
CMS commissioned the Index, in conjunction with Inspiratia, to evaluate past trends and to serve as an indicator as to which jurisdictions would be most attractive for future investment and activity.
The UK remains among the most favourable jurisdictions for sustainability and innovation, although its political stability received a low score compared to the top 10 countries, given
Fortino Capital Partners has created a second fund, Fortino Capital II Growth, with EUR200 million dedicated for investments in scale-ups and growth companies in the Benelux. Commitments worth EUR125 million have already been secured with the first closing having taken place.
The new growth fund accompanies the original EUR80 million fund, Fortino Capital I, which currently holds 13 companies in its portfolio. With the first fund, Fortino invested mainly in successful young companies active in the software and E-commerce sectors. The second fund allows Fortino the chance to expand its investments into larger and more traditional companies who commit to
European Buy & Build activity in the first half of 2017 reached its highest level on record, up 20 per cent on H2 2016, according to Silverfleet Capital’s latest semi-annual European Buy & Build Monitor.
The Buy & Build Monitor, which tracks global add-on activity undertaken by European- headquartered companies backed by private equity, identified a provisional total of 320 add-ons in H1 2017 compared to 302 and 266 add-ons recorded in the first and second halves of 2016 respectively.
The average disclosed value of add-ons in H1 2017 was GBP92 million, down from the 2016 average of GBP109.5
ICG, the specialist asset manager with EUR27.2 billion of assets under management, announced earlier this month that it had raised EUR5.2 billion of dry powder to deploy in the third vintage of its Senior Debt Partners strategy.
The capital raised for Senior Debt Partners III (SDP3) makes it the largest commingled direct lending fund to date, in Europe. Such was the level of interest in the wider marketplace that USD4.2 billion was new commitments, with investors coming from a large number of jurisdictions such as Israel, Korea, Australia, the US and Europe.
One of those leading on the complex deal
KKR has held the final closing of KKR Health Care Strategic Growth Fund (HCSG), a USD1.45 billion fund dedicated to health care growth equity investment opportunities in the Americas.
KKR will be investing more than USD265 million of capital in the Fund alongside external investors through KKR’s balance sheet and employee commitments.
“The health care sector has demonstrated strong fundamentals throughout multiple cycles,” says Ali Satvat, KKR Member and Head of KKR’s Health Care Strategic Growth investing efforts. “Significant advances in medical innovation have yielded new products and services for patients, while consolidation and novel approaches to care delivery
Euronext has expanded its ‘Federal model’ with the acquisition of 100 per cent of the shares and voting rights of The Irish Stock Exchange (ISE) for EUR137 million.
The acquisition is in line with Euronext’s long term strategy, and sees Ireland become its sixth core European country. Euronext intends to position ISE as centre of excellence for the Group in the listing of debt, funds and ETFs.
Stéphane Boujnah (pictured), Chief Executive Officer and Chairman of the Managing Board of Euronext, says: “The Irish Stock Exchange joining Euronext represents a major milestone in the expansion of Euronext’s federal model since its IPO.
Ardian, an independent private investment company, has entered into exclusivity with some family shareholders and Tikehau Capital to acquire a controlling stake into Les Dérivés Résiniques et Terpéniques (DRT).
The proposed transaction values DRT at approximately EUR1 billion and is fully supported by DRT’s management team which will remain in place and is headed by its CEO Laurent Labatut. This transaction would be a further step in the company’s development path as many individual shareholders and Tikehau Capital have decided to reinvest part of their proceeds alongside Ardian.
Created in 1932 and headquartered in Dax (France), DRT is a global
Lightyear Capital, a private equity firm focused on financial services investing, has held the final close of its fourth private equity fund, Lightyear Fund IV, with more than USD950 million in capital commitments, with an additional USD75 million raised in a related co-investment vehicle.
Fund IV received commitments from US and foreign institutional investors, including public and private pension plans, insurance companies, fund of funds, and high net worth individuals. Since inception, Lightyear has raised approximately USD3.6 billion of private equity capital.
Fund IV, the largest fund raised by Lightyear to date, will be invested primarily in control investments
Mubadala Investment Company, an Abu Dhabi Government owned company, has acquired Verno Capital’s private equity advisory unit to strengthen its internal investment and asset management capability across Russia and the CIS region.
The transaction sees a number of Verno employees transfer to Mubadala, who will now have a complete focus on Mubadala’s Russian portfolio and investment pipeline. This comes as Mubadala seeks to grow its Russia investment portfolio across multiple sectors.
Mubadala has been a major shareholder and investor in Verno Capital since 2010, deploying capital across Verno’s funds as well as using its investment advisory unit’s services to support
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