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Collas Crill has advised Freedom Select Funds PCC Limited (FSF) on its conversion to Guernsey’s new Private Investment Fund (PIF) regime.
FSF is managed by Freedom Asset Management Limited (FAML) and was established as a registered closed-ended fund in 2016.
The Collas Crill team, including group partner Paul Wilkes and associate Alex Wickens, played a central role in the conversion as lead counsel to FAML.
Wilkes says: “The launch of the PIF regime in November last year provided an opportunity to take advantage of an even more flexible, cost effective fund regime.
“Using the PIF for FSF
Duff & Phelps has appointed Yann Magnan, Managing Director and leader of Valuation Advisory Services for Europe, as the firm’s EMEA Leader.
Yann will focus on growing Duff & Phelps’ business in Europe and the Middle East across all service lines, building on the firm’s continued success throughout the region.
With more than 20 years of experience in valuations and financial consulting, Yann has represented clients in industries including telecommunications, entertainment, retail, consumer products, healthcare and energy. He has particular expertise in international transactions and valuation projects, intangible assets and taxes, and he lectures on valuation topics worldwide.
International law firm Ropes & Gray has advised TPG Capital and its portfolio company, Beaver-Visitec International, a leading global developer, manufacturer, and marketer of specialised surgical devices for the ophthalmic marketplace, on the acquisition of Vitreq, a Dutch ophthalmic technology company.
Headquartered in Netherlands, Vitreq develops and manufactures high-quality, innovative products for the ophthalmic industry. With a special focus on vitreoretinal surgery, Vitreq’s team of in-house R&D, engineering, and manufacturing professionals collaborate with renowned surgeons to create a portfolio of state-of-the-art minimally-invasive instruments designed to match the demands of today’s surgical environment.
The Ropes & Gray team was led
Global venture capital (VC) deal value increased by 55.3 per cent to USD40.07 billion in Q2 2017, propelled by an uptick in mega-deals around the world, according to Venture Pulse Q2 2017 — the quarterly global VC trends report published by KPMG Enterprise.
Globally, the United States led VC investment, accounting for USD21.8 billion, followed by Asia (USD12.7 billion) and Europe (USD4.1 billion). The increase in funding was strongly affected by a continued resurgence in mega-deals, including Didi Chuxing’s record-breaking USD5.5 billion round and Toutiao’s USD1 billion Series D round. Globally, there were nine deals at or over USD500 million
Growth capital investor Beringea has exited its investment in APM Healthcare through the sale of business to national pharmacy chain, Day Lewis Pharmacy.
Day Lewis will take over APM Healthcare’s 18 UK pharmacies, which it runs in Joint Venture Partnerships with GP Practices across the country.
Trading under the name Community Pharmacies, APM Healthcare was founded in 2009. Beringea initially invested in the company in 2011, when APM was on the verge of expanding its network from just one pharmacy having secured a number of deals with local doctors. The expertise of Andrew Murray – who previously founded and
Brentwood Associates, a Los Angeles-based private equity investment firm, has held the final closing of Brentwood Associates Private Equity VI (Fund VI), with USD1.15 billion of capital commitments. Fund VI closed at its hard cap and exceeded its target of USD750 million.
Fund VI is the largest fund raised by Brentwood to date, and the firm now has over USD2.4 billion in assets under management. The new fund follows the strategy of its predecessor, Brentwood Associates Fund V, L.P. and parallel funds, which closed at its hard cap in November 2014 with total commitments of USD688 million.
“We are
Autotech Ventures, a specialist venture capital firm based in Silicon Valley, has closed its inaugural fund at USD120 million. The fund, which will invest in startups focused on ground transportation, was supported by both financial and corporate investors.
Among the fund’s corporate investors are BorgWarner and Autoliv, as well as dozens of others including vehicle manufacturers, parts suppliers, repair shop chains, leasing corporations, refuelling station networks, dealership groups, and trucking firms who together represent a global market capitalisation of over USD500 billion.
Founded by Alexei Andreev and Quin Garcia and featuring a team of seasoned transportation executives, investors, and
HarbourVest Partners has held the final close of its fourth co-investment fund at its hard cap of USD1.75 billion. HarbourVest Partners Co-Investment IV, which had an original target of USD1.0 billion and hard cap of USD1.5 billion, was oversubscribed.
The fund’s hard cap was raised from USD1.5 billion to USD1.75 billion during fundraising, with the support of limited partners.
“We’re excited by the confidence our clients have placed in us that resulted in such a successful fundraise,” says Peter Wilson, Managing Director and member of the Executive Management Committee, HarbourVest. “HarbourVest has been investing directly in companies since 1983
Inverness Graham has acquired SwipeClock, a provider of cloud-based integrated workforce management software solutions that include automated time and attendance and advanced scheduling.
The Company’s products, which include TimeWorksPlus, TimeSimplicity, and TimeWorksTouch Intelligent Clock, are sold through over 850 partners to more than 26,000 businesses.
“We are excited to partner with the talented team at SwipeClock,” says Trey Sykes, Managing Principal of Inverness Graham. “The Company is well positioned with a purpose built, channel ready product and go-to-market strategy focused exclusively on its channel partners, which have traditionally been comprised of independent payroll providers, professional employer organisations, banks,
Investcorp has agreed the sale of Esmalglass to global private equity firm Lone Star Fund X for an enterprise value of EUR605 million.
Established in 1978 in Villareal, Spain, Esmalglass is a producer of ceramic colours and glazes with total sales of circa EUR400m in 2016. Esmalglass supplies a wide range of products used in the manufacturing and decoration of ceramic tiles to circa 1,200 customers through its 21 sales offices worldwide supported by manufacturing and mixing plants in Spain, Brazil, Vietnam, Portugal, Italy, Russia, China, Indonesia, India and Mexico, as well as by large design and technical assistance teams
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