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Private equity investors have plenty of money on hand to invest. According to a recent Bloomberg report, they are sitting on a record nearly USD1 trillion in what is called “dry powder,” money raised but not yet invested. What they don’t have is surplus time to deal with firms that are not serious and prepared for the sales process.
Many private equity firms are interested in investing in privately owned firms in the lower middle market. In fact, according to a recent survey by PitchBook, close to USD119 billion was invested by private equity firms in the first quarter of
Fund and corporate services provider Alter Domus has launched a new third party AIFM management service offering, as it continues to enhance its vertically integrated range of services to the alternative funds market.
Alter Domus has signed an agreement to acquire Luxembourg Fund Partners, subject to the usual regulatory approvals from the Luxembourg regulator. On completion of the deal, Alter Domus will be able to provide set-up support, administration and management company services to international fund promoters.
Luxembourg Fund Partners was founded in 2009 by Luc Leleux and Julien Renaux as an independent management company focusing on integrated investment
CIBC Asset Management has launched the CIBC Long-Term Private Debt Pool, a product for institutional investors focused on unrated private securities in the infrastructure and power sectors.
The pool was designed for investors seeking contracted cash flows that align with their liabilities and offers the potential for an enhanced yield without incremental credit risk.
“Institutional investors continue to search for ways to enhance their fixed income portfolios,” says Doug MacDonald (pictured), Managing Director & Head, Institutional Asset Management, CIBC Asset Management. “Infrastructure investing is about seeking stable returns through contracted cash flows while minimising management and operational risk.
Bison, a technology provider focused on developing innovative analytical solutions for the private markets, has integrated the Cobalt GP and Cobalt LP products with Ipreo’s iLEVEL platform.
Launched in 2016, Cobalt is a software platform developed jointly by Bison and Hamilton Lane (NASDAQ: HLNE), a global private markets asset management firm. Cobalt LP is used by institutional investors, including Hamilton Lane, to understand capital flows in portfolios, diligence managers and report on portfolio performance. Cobalt GP helps fund managers service clients with custom analysis, automated reporting and powerful visualisations. With the new iLEVEL integration, Cobalt’s platform fits even more easily into
Perkins Coie has appointed Christopher J Hagan (pictured) as a partner in the firm’s Corporate practice in the Washington DC office with a focus on private equity matters and mergers and acquisitions.
“Chris is a noteworthy inclusion to the firm’s nationally recognised mergers and acquisitions practice because of his exceptional track record working with private equity sponsors,” says Nate Ford, Chair of Perkins Coie’s Private Equity practice. “Chris’s high-level of deal activity includes cross-border transactions across a range of industries including the business services, healthcare, energy, technology and manufacturing sectors. We are delighted to welcome him to the firm.”
AlphaFlow, an automated alternative investment platform for real estate, has closed a USD4.1 million seed round funding, led by Resolute Ventures and Point72 Ventures, the venture capital arm of Steve Cohen’s Point72 Asset Management.
Other investment partners include Upside Partnership, Social Capital, Y Combinator, Clocktower Technology Ventures, an affiliate of Drobny Capital, Red Swan Ventures, and more.
AlphaFlow’s seed round comes two years after the company was established by CEO and former RealtyShares Co-Founder, Ray Sturm. AlphaFlow plans to use the funding to continue scaling successful partnerships with lenders and investors, both accredited individuals and investment managers. Additionally, the
BNY Mellon Investment Management is to sell the business of real assets investment boutique CenterSquare Investment Management to its management team and the private equity firm Lovell Minnick Partners.
Founded in 1987 and headquartered near Philadelphia, CenterSquare Investment Management has approximately USD9 billion in assets under management in US and global real estate and infrastructure investments. Founded in 1999, Lovell Minnick Partners has a long and successful track record of investing across the investment management, distribution, and advisory value chain.
“CenterSquare is a highly respected real asset investment manager and teaming up with Lovell Minnick will ensure that CenterSquare
UK lower mid-market investor, Tenzing’s portfolio company, FMP Global, has acquired the international HR consultancy, MCN Associates.
FMP Global is a leading provider of international and domestic payroll management services. It manages the international payrolls of US and UK headquartered SMEs utilising an extensive network throughout 135 countries. FMP Global also provides domestic payroll management services to small and medium sized UK businesses, handling in excess of GBP1.8 billion in payments each year on behalf of its clients.
MCN Associates is a specialist provider of HR consultancy services for US businesses expanding overseas. The acquisition enables FMP Global to
Ogier has advised crowdfunding platform Dragon Victory International Limited on its initial public offering of shares listed on NASDAQ.
Ogier advised on the Cayman law aspects of the IPO alongside lead counsel Hunter Taubman Fischer & Li LLC.
Dragon Victory International Limited offers reward-based crowdfunding, business incubation services and financial services to entrepreneurs in China. Last Friday’s successful IPO raised USD8.5 million. Ogier partner Bradley Kruger, who leads the firm’s Caribbean & Asia corporate practice group, with managing associate Mark Santangeli and associate Tommy Tuohy, advised on the Cayman Islands law aspects of the transaction.
Bradley says: “We
Private equity firm MidOcean Partners’ portfolio company Affinity Dental Management has affiliated with Akram E Rafla, DMD, PC and Endodontic Associates of Marlboro, led by Marta-Orrego-Rafla. Financial terms of the transaction were not disclosed.
Located in Worcester, Massachusetts, Dr Rafla’s practice provides periodontal care to patients, with services in implants and oral medicine. Located in Marlborough, Massachusetts, Dr Orrego-Rafla’s practice provides comprehensive endodontic services to its patients. The practices will be supported by Affinity, which provides comprehensive practice management and administrative support services for practices across Massachusetts, Connecticut and Vermont.
With this strategic addition, Affinity expands its network of
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