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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
Valuation and corporate finance advisor Duff & Phelps is to be acquired by a company backed by private equity firm Permira in a USD1.75 billion deal.
Selling equity holders include The Carlyle Group, Neuberger Berman, the University of California’s Office of the Chief Investment Officer of the Regents and Pictet & Cie.
As part of the transaction, the Duff & Phelps management team will maintain a significant equity stake in the firm and will continue to lead the company in their current roles. The transaction is subject to customary conditions and is expected to close in the first quarter
Glendon Capital Management has successfully closed its second credit opportunities and special situations fund, Glendon Opportunities Fund II, with final commitments reaching the hard cap of USD2.5 billion.
Glendon’s senior investment team has spent the vast majority of their careers pursuing compelling dislocated or distressed opportunities globally. The Fund’s limited partners are comprised of some of the largest and most respected domestic and international institutional investors from various sectors including public and private pension funds, financial institutions, foundations and endowments. The Glendon Opportunities Fund, which closed in 2014, raised USD1.1 billion in total commitments.
“We are very grateful for
Future Renewables Eco PLC (FRE plc) has opened its latest funding phase as the firm looks to increase the number of wind turbines it operates across the United Kingdom and Republic of Ireland.
The company’s Phase 4 Bond aims to raise GBP30million to finance the acquisition of wind turbine sites for construction at more than 20 sites across mainland UK and Northern Ireland leading to further opportunities opening up in the Republic of Ireland.
FRE plc was established in 2015 with the aim of delivering a substantial source of income whilst encouraging an ethical and eco-friendly way of generating
McCarthy Denning has acted for Tyréns AB and its UK subsidiaries on its acquisition of a stake in Hilson Moran Holdings Limited and its subsidiary, Hilson Moran Partnership Limited, which was previously backed by private equity investor Albion Capital.
Hilson Moran’s management team will remain as shareholders and the company will continue to operate under its existing brand name.
Established in Sweden in 1942, Tyréns AB is a global urban and rural planning company which specialises in urban development and infrastructure. The company’s acquisition of a stake in Hilson Moran – best known for its work in the UK
Platina Energy Partners (Platina) has sold a 34.5MWp portfolio of eight operating solar plants located in Italy to a European financial investor for a total deal value of EUR131.9 million. The completion is subject to change-of-control approvals by the portfolio’s debt providers.
Five of the plants are located in the Puglia region and three in Campania. The plants were built and connected to grid between 2010 and 2011 and benefit from the Italian feed-in-tariff (FIT) regime. Five long-term non-recourse project finance with outstanding capital of EUR77M by Italian and European banks will remain in place.
Riccardo Cirillo, Managing Partner
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