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PWP Growth Equity has completed fundraising for PWP Growth Equity Fund II, which closed at its hard cap with total commitments of USD750 million, surpassing its USD600 million fundraising target.
PWP Growth Equity manages two funds with USD1.350 billion in aggregate commitments.
PWP Growth Equity focuses on investing in growth-oriented, lower middle market companies across the consumer, industrial and services sectors. It seeks to partner with existing owners and management teams, delivering capital in a variety of structures, while also providing the benefit of the team’s extensive experience to help companies execute on their growth objectives and plans
Benson Elliot, a UK-based private equity real estate fund manager, has made a number of management changes to support the company’s ongoing strategic growth and development.
All changes will take effect from 1 January 2018.
Marc Mogull will transition from his current role as managing partner to executive chairman and chief investment officer.
Trish Barrigan, who co-founded Benson Elliot with Mogull in 2006, will take on the position of managing partner.
Joseph de Leo, senior partner, and James Jakeman, partner, will jointly oversee the investment portfolio under Barrigan’s direction.
Separate to these changes, Benson Elliot
Morgan Stanley Investment Management has raised more than USD125 million in final commitments for its first global impact fund, PMF Integro Fund I.
Launched in partnership with the Morgan Stanley Institute for Sustainable Investing, Integro invests in private equity funds that offer the potential for compelling financial return while demonstrating positive environmental impact, social impact or both.
The fund is managed by AIP Private Markets, the private markets solutions team within Morgan Stanley Investment Management.
“Sustainable Investing is an incredibly important part of our Firm’s DNA, and the launch of Integro underscores our commitment to promote sustainable
Skadden, Arps, Slate, Meagher & Flom has appointed private equity lawyers Richard Youle and Katja Butler as partners in the firm’s European private equity practice in London.
Youle and Butler will add a expertise to Skadden’s global private equity and corporate platforms.
Youle was the co-head of both the global and EMEA private equity groups at his previous firm, from which Butler is also joining. His practice focuses on private equity, and he advises private equity houses and financial sponsor clients on all forms of leveraged M&A and portfolio assistance, including restructuring advice.
Butler focuses on transactional
Lemonaid Health, a platform for online healthcare, has secured USD11 million in new funding to support continued innovation in affordable online healthcare.
The Series A funding round was led by Novartis Venture Fund and Hikma Ventures and joined by Correlation Ventures, Adaptive Healthcare Fund, Vega Ventures and 415 Ventures.
“Millions of people are looking to lower their healthcare costs and gain more convenient access to physicians and the medicine they need,” says Lana Ghanem, managing director of Hikma Ventures. “Lemonaid Health’s technology, algorithms and machine learning opportunities will improve the quality of care while decreasing the time and
Harvest Partners, a New York-based private equity firm, and Varsity Healthcare Partners (VHP) have completed a recapitalisation of EyeCare Services Partners (ESP).
Harvest has acquired Varsity’s majority ownership interest in the company.
The company’s management team, led by CEO Michael Fricke and other doctor shareholders, will continue to lead ESP, and will retain a significant stake in the company. Additional terms of the transaction have not been disclosed.
Based in Dallas, Texas, ESP is the nation’s largest vertically integrated ophthalmologic services company. ESP’s affiliated ophthalmologists and optometrists serve communities in California, Colorado, Delaware, Illinois, and Maryland. Since its
Tikehau IM has led a EUR60 million unitranche to support the recapitalisation of Terratest, an international provider of geotechnical engineering and foundations solutions.
Founded in 1959 in Spain, Terratest provides foundation work, ground improvement and micro-tunnelling services for large-scale international infrastructure projects, industrial, commercial and residential construction.
Los Angeles-based Platinum Equity acquired a majority interest in Terratest in 2014.
After pursuing a repositioning of the business, Terratest has become a growing international operator in its sector, with activities in more than 25 countries worldwide.
Tikehau IM acted as sole arranger of the EUR60 million unitranche transaction.
HIG Growth Partners, the growth equity group affiliate of private equity investment firm HIG Capital, has sold its position in Community Veterinary Clinics (CVC) to CVC’s management team and majority owners.
CVC provides preventative and wellness veterinary services throughout the US via its network of clinics. The company’s more than 2,500 community clinics, located in locally-based pet stores and feed stores, offer a wide variety of preventative pet care services, including diagnostic tests, vaccinations, prescription medications, microchipping and wellness checks. In addition, CVC sells a wide variety of prescription diets, medication, and other pet supplies through its online ecommerce
The Lawson Conner Group has passported its AIFM capabilities into both the Central Bank of Ireland and the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg.
The firm can now launch asset management businesses and their associated investment funds in these two popular fund domiciles.
During Q1 of this year, Lawson Conner, through its full scope entity, launched an Irish domiciled QIAIF for a GBP220 million real estate manager, a European Credit hedge fund as an Irish ICAV, and also a long/short equity strategy out of Luxembourg in the form of a newly structured RAIF.
Andrew Frost,
Carey Olsen’s Jersey funds team has advised TempoCap, a technology investment firm, on the establishment of a new investment vehicle, TempoCap 2S, one of the first Jersey Private Funds (PIF) to be formed since the new regime’s introduction.
The fund is a closed-ended limited partnership managed by its general partner company situated in Jersey which invests in European growth and venture assets.
Carey Olsen partner Robert Milner led the team, assisted by counsel Chris Griffin and associate Joseph Barker-Willis, advising on the Jersey aspects of the fund’s establishment.
The new Jersey Private Fund regime provides for fast
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