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Chassis Brakes International Group, a portfolio company of KPS Capital Partners, has completed its second successful recapitalisation. The proceeds will be used to fund a cash distribution to stockholders, refinance the company’s capital structure, purchase Robert Bosch GmbH’s financial interests in the company, and provide resources for investments in technology and growth.
Financing for the transaction was provided by KKR Credit and Gide advised Chassis Brakes International Group in connection with the financing and security agreements entered into with KKR.
The following jurisdictions were involved: Luxembourg, The Netherlands, France, Brazil, Mexico, Poland, the State of Delaware, Germany and Spain.
SuperAwesome, a specialist in digital engagement for children, has received new growth capital from Mayfair Equity Partners (Mayfair).
As TV viewing amongst kids continues to decline, under-thirteen (U13) users have become one of the fastest growing digital audiences around the world. In parallel, new data privacy laws have been implemented to ensure the safety of kids online eg the US’s Children’s Online Privacy Protection Act of 2013 (COPPA) and the EU’s General Data Protection Regulation of 2016 (GDPR). These trends have created the need for compliance-driven digital media technology to support overall ecosystem growth. Founded in 2013 by Dylan Collins,
iCapital Network, a financial technology platform aiming to democratise alternative investments for high-net-worth individuals and their financial advisors, has completed its latest funding round which included participation by Morgan Stanley Investment Management.
Morgan Stanley’s investment, together with investments from UBS Financial Services, Inc. (NYSE: UBS) and lead investor BlackRock (NYSE: BLK), brings iCapital’s total funding to date to over USD50 million.
iCapital’s online platform offers investors and their advisors access to select alternative investments such as hedge funds and private equity funds. The platform is powered by iCapital’s end-to-end technology solution, which automates the unique subscription, administration and reporting
IK Investment Partners’ IK VIII Fund has entered into exclusive negotiations with Equistone to acquire a majority stake in Bretèche Industrie Group (Bretèche), a manufacturer of industrial equipment for the production of food, pharmaceutical, and cosmetic products.
The management team will reinvest alongside the Fund. Financial terms of the transaction are not disclosed and the completion of the transaction is subject to regulatory approvals.
Bretèche consists of six leading companies within their respective markets, designing, engineering manufacturing, and installing equipment for food, cosmetics and pharmaceutical production lines. The Group employs nearly 1,000 people and generated a turnover of approximately
Comparison Creator, a comparison software development company, has been bought out by its Managing Director and founder Steve Jones, as well as minority investors, with investment from financial information business Defaqto.
As part of its strategic growth plan, the Cwmbran based business has also agreed a partnership with Defaqto, who help consumers make better informed decisions. Defaqto will provide Ratings and data to Comparison Creator. Comparison Creator plans to triple its workforce by the end of 2017.
Launched in 2010, Comparison Creator provides a white-label breakdown comparison service for Gocompare.com, Moneysupermarket, Confused.com and Comparethemarket.com. It also provides home emergency
Private equity house Key Capital Partners (KCP) has backed the management team of YorkTest Laboratories Ltd in completing an MBO that sees CBPE Capital sell 100 per cent of its stake in the food intolerance testing business, which trades as YorkTest and Lorisian.
YorkTest is the UK market leader in food intolerance testing. The company offers comprehensive support to customers in identifying food intolerance and then guiding them through dietary changes with the aim of addressing ailments such as IBS, migraines and skin conditions. YorkTest applies a rigorous process at its York-based laboratory to determine specific food or drink reactions,
Leveraged finance lawyer Lorraine Vaz is the latest partner to join McGuireWoods in London, as the firm positions to meet growing demand in the UK for US-style leveraged financings. She comes to McGuireWoods from King & Wood Mallesons, where she was a partner.
Vaz is the third partner to join the London office since February, following debt finance partner Jennifer Kafcas and M&A partner Jeremy Davis.
Vaz brings deep knowledge of the leveraged finance market and an established reputation in her field. Able to work on both lender and borrower financings, her clients include banks, debt funds and other financial institutions, as well as
New York-based PortfolioScience and Eze Software have joined forces to offer the marketplace a unique solution for fund managers: pre-trade compliance rules based on market risk.
The RiskAPI service, developed by PortfolioScience, is a fully hosted and customisable risk solution that integrates seamlessly with existing applications and programming frameworks to generate risk calculations for multi-asset, multi-currency portfolios and individual positions.
Eze Investment Suite, Eze Software’s straight-through processing solution for the entire investment lifecycle, culls inefficiencies and replaces innumerable manual operations tasks by streamlining portfolio analytics, modelling, trading compliance and risk, from idea generation to settlement. The Portfolio Science application adds
In a post-regulatory world, one of the ways for hedge fund managers to gain an edge on their peers is thinking about how to make risk more strategic. To tell a more coherent story, in terms of how they manage risk to improve their reputation and their asset raising capabilities, as well as helping with the overall performance of their fund(s).
This needn’t be confined purely to investment risk. As will be revealed, it could also include technology risk and liquidity risk, to name but two.
Providing tools for managers to move risk management into the front-office to gain clearer
With investment managers typically running multiple strategies, both onshore and offshore, across a range of asset classes, paying heed to regulatory rules has been a relatively straightforward affair.
Global regulations over the last decade have required financial institutions to become more prescriptive in terms of improving their trade compliance frameworks and enhancing pre-trade analytics. As such, most of the liquidity-related concerns in respect of Comprehensive Capital Analysis Review (CCAR) prescribed by the Federal Reserve Board, Solvency II, MiFID II, and liquidity coverage ratios under Basel III are essentially just rules from the regulator to adhere to.
Conversely, regulations such as
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