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Legal & General’s Venture Capital and SME investment programme, which also includes its “SE-Assist” product for social enterprises, has now made investments in over 100 UK-based companies, and is on track to double that number during 2018.
Early-stage companies which have benefited from Legal & General’s VC funding now have a combined Enterprise Value of over GBP10 billion. Prime areas of focus have included technology, analytics, life sciences and digital healthcare, with a particular emphasis on investments in companies located outside London.
Legal & General’s VC investment programme is conducted alongside seven partner-managers. These include OSI (Oxford Sciences Innovation), CIC
Cairngorm Capital Partners (Cairngorm Capital) has acquired Thornbridge Sawmills Limited (Thornbridge), a leading Scottish timber processing and distribution company.
Thornbridge sources certified timber and sheet materials from sustainable producers both domestically and overseas. It has a combined sawmill and distribution hub in Grangemouth, as well as eight regional branch outlets across Scotland serving builders, joiners and construction companies. Thornbridge has revenues of £35 million and employs 159 staff, many of them very long-serving.
This is Cairngorm Capital’s ninth proprietary transaction since July 2016 and is the first investment for its second fund Cairngorm Capital II, which closed in April
Pan-African private equity firm Development Partners International (DPI) has appointed Takudzwa Mutasa as Principal.
As a deal lead, Mutasa will work with the team to source and manage investment opportunities and partnerships across the continent, as well as work with existing portfolio investments.
Mutasa will rejoin DPI from KKR and has over a decade of investment experience of which the majority has been in African Private Equity.
Mutasa’s private equity experience, outside of DPI, has been gained at firms including KKR and Helios Investment Partners where he was involved in sourcing, analysing and executing private equity investments across
irth Solutions, a provider of field service management solutions to the utility, energy and telecoms industries, has acquired Bytronics, a provider of software solutions to the energy, utility, municipality and contract locator industries and the maker of DigTrack One Call ticket management software.
Financial terms of the transaction have not been disclosed.
The acquisition of Bytronics brings together two market leaders, creating a unified leader in mobile workforce management for the energy and utility marketplace. irth will support all Bytronics’ solutions and their customers will now have access to the resources and expertise of the irth Solutions team. Bytronics
Kirkland & Ellis is advising Oakley Capital Private Equity III on the acquisition of Career Partner Group from its shareholder Apollo Education Group Inc.
The current management team of Career Partner is investing alongside Oakley in the transaction. The transaction is funded by a unitranche debt facility from BlueBay and equity investment from Oakley. Completion is subject to approval by the Federal Cartel Office, and is anticipated to be no later than 31 December, 2017.
Oakley Capital is a mid-market private equity investor with currently over EUR1.5 billion under management, investing primarily in Western Europe. Career Partner Group is a
Middle market private equity firm Quad-C Management has closed an investment in Galleher Corporation (Galleher), one of the oldest, largest and fastest growing value-added floor covering distributors in the United States. Terms of the transaction have not been disclosed.
Founded in 1937, Galleher currently operates 23 locations in California, Nevada and Arizona with over 325 employees. The Company distributes a broad offering of hardwood, resilient, vinyl and laminate flooring as well as carpet and installation accessories to more than 5,000 customers while also providing unique custom hardwood manufacturing capabilities. The Company’s management team, led by Jeff Hamar, is maintaining a
By Ian Kelly, Chief Executive Officer, Augentius – Enthusiasm for private equity as an asset class continues to rise in a time of opportunity for fund managers – Preqin data shows the number of private equity funds in the market continued to grow in Q3 2017, with a 10 per cent rise in the number of funds raising capital since the start of the year. And this enthusiasm can be easily explained.
The macroeconomic environment continues to be characterised by volatility and a paucity of yield when it comes to more traditional asset classes. Not only does private equity allow
Linda Gibson, Director of Regulatory Change and Compliance Risk, BNY Mellon’s Pershing on teh challenge and opportunities of MiFID II…
The FCA will not be lenient on firms that fall behind on MiFID II compliance. But where a zero tolerance approach will apply to more straightforward areas – such as permissions and transaction reporting – the regulator will treat more complex aspects with a degree of flexibility.
The FCA is expecting a diversity of approaches to costs and charges disclosure, reflecting the need for firms to operate in a way that best suits their client base. The regulator will closely
By George Ralph, RFA – Why is Blockchain the latest buzz word? What is it, and do you need it in your alternative investment firm?
Essentially blockchain technology is a distributed ledger tech for real-world applications. It is a peer to peer entity which is not maintained by any one organisation, but is open to all blockchain members. A blockchain ledger is replicated across all users of that blockchain and when a transaction is updated in one ledger, all other ledgers are simultaneously updated in chronological order. Everyone in the blockchain can see and verify the chain of events. The ledger is
Private equity investment companies have recovered strongly following the global financial crisis. Over one, three and five years, the average investment company in the Private Equity sector has returned an impressive 21 per cent, 66 per cent and 117 per cent, respectively, to 31 October 2017.
The average sector discount has narrowed significantly from 45 per cent at 30 November 2008 to 13 per cent at the end of October, a level many analysts believe offers value.
On Monday 6 November, the Association of Investment Companies (AIC) held a media roundtable with Andrew Lebus, Partner at Pantheon Ventures, responsible
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