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Tecum Capital has held the first closing of its second SBIC (Small Business Investment Company) fund having secured a license from the US Small Business Administration (SBA) for the fund’s operation.
This second fund, Tecum Capital Partners II, is fully subscribed at USD225 million, and will continue the strategies of its first SBIC fund by making mezzanine loans and minority equity investments across many industries.
"The second SBIC license is a significant achievement for Tecum Capital as it will help drive our long-term growth plans,” says Stephen J Gurgovits, Jr, managing partner of Tecum Capital Partners. “This new fund
Nexxus Capital has completed its investment in Translatum, a holding company which is developing a fintech payments platform.
The first component in the platform is TransNetwork, a company in the B2B electronic domestic and cross-border processing and payments industry.
The company enables transfers between the US, Mexico and other Latin American countries as well as domestic money transfers within Mexico. This investment has been made through Nexxus Capital Private Equity Fund VI, and Nexxus Capital VI Trust.
TransNetwork’s money transfer business enables licensed and regulated financial institutions to connect under one standard technology, granting access to a diversified
EMK Capital has held the final close on its first fund, EMK Capital Partners, at the fund’s GBP575 million hard cap.
The fund was raised from first meeting to final close in just eight months.
EMK is an independent firm, established to continue the investment strategy of the managing partners, Edmund Lazarus and Mark Joseph, at their predecessor firms Bregal Capital and Oakley Capital Private Equity.
The fund will focus on securing control or substantial influence predominantly in UK headquartered mid-market businesses where EMK has identified unrecognised and/or hard to realise value and where EMK can support companies
Neil Woodford-backed equity crowdfunding platform Seedrs has unveiled plans to launch a secondary market for investments made through the platform this summer.
Until now, the shares purchased by investors using crowdfunding platforms have been difficult to trade, meaning that they need to wait for an exit event such as an IPO or a sale of the business.
Whilst Seedrs has already seen portfolio companies Chapel Down and FreeAgent achieve success on the public markets, allowing those investors to sell their shares and realise a profit, the long term nature of this asset class means the vast majority remain illiquid
Following its recent four-week promotional interest rate rise on its 30 Day Access Account, UK peer-to-peer finance platform Assetz Capital has seen more than GBP10 million of new investment in P2P loans, with one week still to go on the offer.
Since the rate increase went live on 13 April, investors have had access to a target, capped return of 4.75 per cent per annum gross (before allowances for tax or any possible losses) and still have until midday on 11 May to take advantage of the new rate.
Investments in the 30 Day Access Account made before this date will benefit from the increased target rate for up to 90 days.
Stuart
Independent fund and corporate services provider the Aztec Group has established two Jersey Private Funds (JPFs), the first funds to be formed since the regime’s inception on 18 April 2017.
Introduced last month by the Jersey Financial Services Commission, the new JPF product has been designed to rationalise and consolidate Jersey’s private fund regimes for funds offered to up to 50 professional investors.
The Aztec Group worked closely with law firm Mourant Ozannes to establish the first new fund structures approved under the new regime. The first, a private equity fund, required a closed-ended limited partnership managed by its
Clippings, an online marketplace for sourcing furniture and lighting from premium design brands, has raised GBP2.8 million in a Series A round of venture capital funding.
Clippings aggregates premium design products from the world's top brands in one online marketplace, addressing a crucial pain-point in the discovery and purchase experience of high-end design for architects, interior designers and consumers.
The existing sourcing process for premium furniture and interior items is still manual and inefficient. Clippings is leading the charge in modernising and digitising this space by providing end-to-end e-commerce tools that facilitate the interior design sector. The company already
Wellfleet Credit Partners, the credit business of private investment firm Littlejohn & Co, has closed a USD457.8 million collateralised loan obligation (CLO), Wellfleet CLO 2017-1, the fourth CLO issuance for the firm.
Benefitting from supportive market conditions and investor receptivity, CLO 2017-1 was upsized approximately USD50.0 million during marketing.
With the completion of this CLO, Wellfleet is managing four CLOs that total over USD1.5 billion in aggregate.
The CLO will be backed by a diversified portfolio of broadly syndicated senior secured loans. Five classes of notes rated Aaa through Ba3 by Moody’s and one class of notes rated
TPG Growth, the middle market and growth equity platform of alternative asset firm TPG, has invested in Club Pilates, the largest franchisor of pilates studios in the US.
Additional terms of the transaction have not been disclosed.
Club Pilates is the US’ largest and fastest growing pilates brand. Founded in 2007 by Allison Beardsley, Club Pilates has sold more than 475 franchise locations across 35 states. The company’s business model is focused on small group reformer pilates classes, providing consumers a tailored, high-end workout at a manageable cost.
In 2015, Club Pilates was acquired by Anthony Geisler, the
KV Private Equity has acquired Northern Lite Mfg as the first investment of KV Private Equity Fund.
Founded in 1989 and located in Kelowna, British Columbia, Northern Lite manufactures desirable high-end fibreglass truck campers, which are distributed throughout Canada and the US via its well-established dealer network.
“We are excited to have the opportunity to continue building this exceptional business. It is an honour that Mac will continue with us as a Director, and that his son Keith has agreed to join us as a shareholder, while also staying on as the general manager of Northern Lite,” says Jonathan
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