Latest News
Abacus Group, a provider of hosted cloud IT solutions for alternative asset funds, has enhanced its Abacus Client Portal, which gives asset managers greater control of and transparency into their AbacusFLEX cloud services.
The enhancements include two new modules giving unprecedented transparency into managed services provided by Abacus; real-time, on-demand charts, and enhanced visibility into services associated with each user account. The Portal enables Abacus clients to routinely monitor the inventory of Abacus services they are using for security, compliance or billing purposes as well as manage their data storage costs.
“With these enhancements to the Abacus Client Portal,
PEFOX, a private equity secondaries advisor headquartered in London, has released the second generation of its PEFOX Library software.
The Library was first launched in early 2016 and provides investors with access to a database of current and historic secondaries pricing data on one hundred major private funds globally. This includes funds managed by groups such as Blackstone, Carlyle and TPG as well as smaller, regional managers.
The latest version of the software includes the largest known secondaries transaction database, with over 10,000 confirmed trades from 1998, alongside fund performance data on over 3,300 private equity funds globally.
Inverness Graham, a private investment firm focused on high growth, innovative manufacturing, technology and services companies, has made three promotions – Chris Frystock to Vice President, Matt Moran to Principal, Head of Business Development and Sean Dougherty to Vice President, Executive Partnerships & Direct Sourcing.
Ken Graham, Senior Managing Principal, says: “We pride ourselves on our promote from within approach and continuous improvement culture. Chris, Matt, and Sean have all demonstrated the skills and character we look for at Inverness Graham and it gives me great pleasure to reward their hard work. These promotions are well-deserved and I look forward to
HC Technologies, a Chicago-based principal trading firm with offices in New York City and London, has launched a private equity arm, HC Private Investments (HCPI).
HCPI will make investments in lower-middle market manufacturing companies ranging in size from USD10 to USD100 million in enterprise value focused on consumer and industrial markets. Typical equity investments will range in size between USD5 million and USD25 million.
Led by veteran middle market investors, John P Kelly and Matthew J Moran, HCPI was founded as an alternative to the traditional private equity model given its highly patient and flexible capital base and long-term investment
CVC Capital Partners Fund VI has agreed to acquire Etraveli, the global flight-centric online travel agency (OTA), from ProSiebenSat.1. The agreement is subject to approval by the relevant authorities.
Etraveli, which is based in Uppsala, Sweden, is a global e-commerce platform for flight tickets (eg Gotogate, Supersaver/Supersavertravel, Seat24, Flygresor), combining a leading position in the Nordics with a fast-growing international business. The Company today fulfils over EUR2 billion in transactions annually across almost 50 countries, by delivering attractively priced flight content through its proprietary technology platform.
Lorne Somerville, Partner and Head of TMT at CVC, says: “The online travel
Permira Debt Managers (PDM), the debt management and advisory arm of Permira, has reached a final close on its third direct lending fund, Permira Credit Solutions III, with commitments of circa EUR1.7 billion. Including leverage the Fund will have investable capital of circa EUR2.1 billion.
PCS3 is taking advantage of the rapidly growing and highly attractive opportunity for direct lending in Europe. A structural shift in European credit markets, catalysed by the financial crisis of 2008, continues to drive a retrenchment of traditional sources of debt capital. This has created a significant funding gap that has driven strong demand for
Now Healthcare Group (NHG) has received a minority investment from health cash plan provider Medicash of GBP4 million.
Founded in 2015 by Lee Dentith, NHG provides digital healthcare services through its brands Dr Now, Now GP and Now Pharmacy. This exciting new partnership with Medicash will enable the business to further develop its artificial intelligence and machine learning offering through its mobile app products and its online pharmacy, enabling the faster development of auto diagnoses and medicine adherence solutions.
The company intends to further develop its hugely successful private medical insurance offering and also its soon-to-be launched new NHS
Falcon Group has secured USD100M in funding from KKR’s credit platform (KKR Credit).
With nine offices worldwide, Falcon continues to see widespread and growing demand from corporates looking for innovative funding solutions. The company now operates in over 30 countries and across 15 industries having deployed over USD8 billion in the last three years. The inaugural deal – in line with the company’s three-year strategic plan – will serve to both diversify the company’s funding sources and provide additional capacity to scale up its financing capacity rapidly in coming years.
“This investment from KKR Credit – one of the
BMO Global Asset Management EMEA Private Equity (BMO PE) has completed the first close of Castle Mount with EUR60m in commitments from a range of institutional, wholesale and high net worth individual clients from Germany, the UK and Canada.
Castle Mount LP is a multi-manager co-investment fund, investing in European lower mid-market buyouts with a focus on prime managers. It represents the first opportunity for investors to gain direct exposure to BMO PE’s co-investment activity. The Fund has a number of live deals under consideration for deployment of assets. The investment portfolio will consist of 15 to 25 co-investments in
Cairngorm Capital Partners’s (Cairngorm Capital) portfolio company Stevenswood Trade Centres Limited (Stevenswood) has acquired Sameday Holdings Limited (Sameday).
This transaction, which is highly geographically complementary, accelerates Stevenswood’s strategy to develop a national network of trade counters. The new combined group will continue to be headquarted in Livingston and will have 37 branches across the UK, generating revenues of over GBP45 million and employing over 180 people.
Established in 2006, Sameday operates a network of seven counters in the west of England, from Bristol to Reading, distributing windows, doors and conservatory roofs to the installer market and employing 20 people.
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