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IK Investment Partners’ (IK) IK Small Cap I Fund has reached an agreement with Neue Verlagsgesellschaft, a subsidiary of BurdaDirect, to acquire Debitor Inkasso, a German provider of mass debt collection services, focused on recovering overdue claims and debts on behalf of its customers.
Founded in 1977, Debitor Inkasso offers a broad range of tailor-made debt collection services to its customers, primarily in the e-commerce/social media, insurance and publishing industries. With a highly automated and continuously refined collection process as well as a broad communication platform (including modern communication channels such as email, WhatsApp and SMS) Debitor Inkasso acts as
LightBay Capital, a Los Angeles-based private equity firm focused on middle-market opportunities, has appointed David Burcham as a Principal.
Burcham will be responsible for sourcing, analysing new investments, due diligence, deal process execution, and portfolio company management and monitoring.
Burcham brings a decade of direct investing and transaction experience to LightBay. Prior to joining the firm, Burcham spent more than eight years at Levine Leichtman Capital Partners (LLCP), where he most recently served as a Managing Director and led private equity and credit investments across several industries and in a variety of transaction types. He served on the boards
Private equity investor Mid Europa Partners is to acquire Hortex Group from funds advised by Argan Capital. Hortex is a leading consumer goods player in Poland, with a strong brand and heritage in the juice and frozen food sectors.
The Transaction is subject to customary competition authority clearance, and is expected to close in Q1 2018.
Pawel Padusinski, Partner and Co-Head of Mid Europa’s Warsaw office says: “Hortex is an iconic brand in Poland, and we believe there is potential to develop the business further through leveraging its strong foundation. We are excited about the prospects of Hortex and
Law firm Paul Hastings has added restructuring partner David Manson to the team based in the firm’s London office. Manson joins from White & Case where he was a partner.
“David’s expertise and relationships will be an asset to our growing London restructuring practice,” says Seth Zachary, chair of Paul Hastings. “He has played a major role on some of the most challenging global cross-border restructurings and our lawyers on both sides of the Atlantic are looking forward to working with him.”
Manson regularly advises banks, noteholders, funds, insolvency practitioners, and companies on all aspects of domestic and cross-border
Stage Capital (Stage), a private equity and real estate investor backed by funds managed by Goldman Sachs Asset Management and Glendower Capital, has sold three assets totalling over EUR350 million in value.
In total, the firm – which spun out from NBGI in October 2016 – has now realised 84 per cent of its invested capital since launch.
Stage continues to focus on maximising the value of its portfolio of investments, the latest phase of which comprises three major exits: Mermeren, The Mall and the Czech Logistics portfolio.
Mermeren is a global leader in the extraction and processing
International law firm Proskauer has promoted 23 lawyers, 14 to partner and nine to senior counsel, including three partners promotions in the private investment funds and private equity teams in London.
“We are pleased to promote this outstanding group to our ranks as partner and senior counsel,” says Proskauer Chairman Joe Leccese. “We applaud them on achieving this significant milestone in their careers and are confident that they will continue to make remarkable contributions to our clients in the years ahead.”
Edward Lee advises fund managers and institutional investors on a broad range of matters relating to private funds,
Peapack-Gladstone Financial Corporation, parent company of Peapack-Gladstone Bank, has completed the acquisition of Quadrant Capital Management (Quadrant).
Founders Jeff Fisher and Jim Kearney will remain as Chairman and President, respectively, of the new Peapack-Gladstone Bank subsidiary – Quadrant Capital Management. Their entire team of accomplished employees will remain with Quadrant and join Peapack-Gladstone Bank’s growing wealth management organisation.
“We are happy to have completed our second wealth management acquisition of 2017 and are anxious to begin working with the Quadrant team,” says John P Babcock, President of Private Wealth Management at Peapack-Gladstone Bank. “Together, we are committed to helping our clients
Dow Schofield Watts’ technology advised on a GBP5.5 million fundraising by Manchester-based Hello Soda, a global text and big data analytics service.
NVM Private Equity has invested GBP4 million in the business alongside an additional GBP1.5 million venture debt facility from Clydesdale and Yorkshire Bank’s Growth Finance team.
David Smith, Peter Barkley and Keith Benson from the Dow Schofield Watts tech team worked closely with Hello Soda on its fundraising plans and created an innovative deal structure to secure the investment.
David Smith, who leads the tech team, said it was another significant deal for the North’s tech
Crestline Investors, a credit focused institutional alternative asset manager, has closed its third Opportunity Fund (Opportunity Fund III). Opportunity Fund III, and related managed accounts, secured over USD1.34 billion in capital commitments, exceeding the fundraising objective.
Investors in the strategy include leading public and private pension plans, sovereign wealth funds, insurance companies, and other institutional investors.
The new fund is the ninth in Crestline’s series of opportunistic funds, which started in 2005 and have attracted more than USD5.6 billion in client commitments to date. Each of the funds is managed by Crestline’s Credit Strategies team, which has closed over 75
Private capital firms have been expanding over the past year, with the majority adding to their headcount from 2016 to 2017. This trend looks set to continue: two-thirds intend to increase their staff in 2018, a fifth by more than 10 per cent.
Deal team members are most sought after, while junior, mid-level and senior staff are all being targeted by private capital recruiters. In order to attract top talent, private capital firms are raising their salaries. Almost four out of five firms increased their base salaries between 2016 and 2017, and 68 per cent intend to raise them from
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