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Battery Ventures has closed two new funds at their respective target levels: Battery Ventures XI, a USD650 million vehicle, and Battery Ventures XI Side Fund, a USD300 million fund intended to support larger investments.
Battery raised predecessor fund family Battery X and Battery X Side Fund, totalling USD900 million, in February 2013.
As with its predecessor funds, Battery will continue to target investments at stages ranging from seed to private equity, deploying capital in increments of a few hundred thousand dollars up to deals worth USD100 million for large growth and private-equity opportunities. In 2015, Battery opened a new
- 24/02/2016
In response to increased demand for outsourced alternative asset administration, Northern Trust has enhanced its private equity support with the launch of its capital call execution service.
The service allows clients to gain operational efficiencies by outsourcing the processing of capital calls. Capital calls are periodically issued by general partners to their clients and require investors, upon demand, to transfer a previously agreed upon amount to fund strategic investments.
Intended for portfolios with more than 20 private equity investments, clients notify Northern Trust of the initial capital call via the automated Trade Order Entry system. Northern Trust then handles
- 24/02/2016
This year’s annual VCT Manager poll by the Association of Investment Companies (AIC) finds the majority of VCT managers optimistic about current investment opportunities.
Almost half of respondents said that they are currently finding a similar number of investment opportunities to last year, before the rule changes; around a fifth said there were more opportunities than last year, although a third said there were fewer investment opportunities compared to last year. The AIC received responses from VCT managers representing 73 per cent of the VCT sector by assets.
This is not to say managers are complacent about the rule
- 23/02/2016
- 23/02/2016
Law firm Howard Kennedy and its regulated London Stock Exchange sponsor, Howard Kennedy Corporate Services, have advised Hazel Capital on the launch of two VCT funds with an exclusive focus on renewable energy.
The Hazel Renewable Energy VCT 1 and Hazel Renewable Energy VCT 2 prospectuses were launched on 18 February.
Sine 2010, Hazel Renewable Energy VCT funds have invested in large renewable energy projects, including solar and wind, that typically are not reliant on government subsidies. The VCT funds are now looking to invest in companies at the forefront of battery storage technology.
The Howard Kennedy team was led
- 23/02/2016
Hall Capital, a family-owned private investment company based in Oklahoma City, has added T Clark Akers as a member of the boards overseeing Hall Capital’s private equity and automotive ventures.
Akers will act as an advisor to Hall Capital Partners, the private equity affiliate of Hall Capital that has USD250 million in capital under management. Akers will also join the oversight of Hall Capital’s automotive affiliate, The Fred Jones Companies, a pioneer in the automotive industry. Akers joins other notable Nashville figures in Hall Capital’s board structure, including real estate veteran Patrick Emery and healthcare entrepreneur William “Billy” Webb.
- 23/02/2016
Electranova Capital US, the energy cleantech venture capital fund, managed by Idinvest Partners and sponsored by EDF, has invested in Off Grid Electric (OGE), a leading solar leasing company in Africa.
The funds will be used to enter new African markets and to continue to scale up OGE’s effort, in partnership with the Tanzanian government, to power 1 million homes by 2017.
In most regions where Off Grid Electric operates, it is not cost-effective for utilities companies to serve customers and many customers who have been disconnected cannot often afford the high fees for reconnection. Off Grid Electric’s systems
- 23/02/2016
The latest study by the Australian Private Equity & Venture Capital Association Limited (AVCAL) shows that private equity (PE) backed Initial Public Offerings (IPOs) have outperformed non-PE backed IPOs over the three year period between 1 January 2013 and 31 December 2015.
The study is the third annual report prepared by leading global financial advisory firm Rothschild, in association with AVCAL, and analyses the share price returns of 67 IPOs with an offer size of AUD100 million or more which listed on the ASX between 2013 and 2015. Of these IPOs, 30 were PE backed and 37 were non-PE backed.
- 23/02/2016
The Middle Market Growth Program (MMGP), jointly managed by Antares and LStar Capital, has closed a senior secured unitranche credit facility to support the acquisition of Preferred Compounding by Audax Private Equity.
Headquartered in Barberton, OH, Preferred Compounding is a leading custom rubber compounder in North America and employs more than 400 people at its four mixing operations in Georgia, Tennessee, Mexico and Ohio.
“We appreciate the flexibility and speed that Antares and LStar provide through MMGP,” says Mark D Cordes, managing director of Audax Group.
“Our sponsors and borrowers benefit from the ease and certainty of having
- 23/02/2016
Artivest, a technology-driven investment platform that provides investors access to best-in-class alternative investment funds, has implemented new initiatives to enhance its offering to financial advisors and their qualified clients.
Artivest has joined the Depository Trust and Clearing Corporation's Alternative Investment Product Services (DTCC-AIP) platform, thereby integrating reporting for its vetted selection of premier funds with major custodians such as Schwab, TD Ameritrade, Pershing, and Fidelity. DTCC-AIP automates and standardises transactions between funds and participants in the alternative investment space.
Additionally, Artivest has coordinated directly with custodians and advisors to spare clients the administrative fees typically associated with such investments.
- 23/02/2016
Stirling Square Capital Partners, a pan-European mid-market private equity firm, has acquired Mettis Aerospace (Mettis), an international manufacturer of precision forged and machined components for the aerospace sector.
The business was acquired from Saints Chamonix for an undisclosed value.
Mettis offers a fully integrated platform from initial design and development through to forging (with presses ranging from 500 tonnes to 12,000 tonnes), machining, finishing and testing. Mettis has significant technical expertise and know-how in forged alloy components, of increasing importance in the aerospace sector given the emphasis on high strength and lightweight.
Founded over 75 years ago, Mettis now
- 23/02/2016
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