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IK Investment Partners’ IK Small Cap I Fund is to acquire Messerschmitt Systems, a provider of access control and customised guest room management systems for the global hotel industry.
Financial terms of the transaction have not been disclosed.
Founded in 1994, Messerschmitt Systems’ multifunctional Room Management Systems and Access Control Systems are used by more than 2,000 hotels worldwide. Founded by Hartmut Messerschmitt, the company provides a fully integrated value chain from development, engineering and manufacturing to supply, installation and the related aftersales market.
“For more than 20 years, Messerschmitt Systems has set the standards in access control
Omnes Capital has used a capital development transaction to buy a core minority shareholding in Batiweb, a digital platform serving the construction sector that brings together building trade professionals and consumers.
Ardian, the independent private investment company, has sold its shareholding in the company.
At the same time, Batiweb has acquired Habitat Trade to expand its geographical footprint and gain high value-added expertise. This deal has given rise to the Batiweb Group. The combined group posted sales of close to EUR10 million.
With backing from Matmut Innovation and other co-investors, Omnes Capital’s Small Cap funds supported the LBO, which
Law firm Morrison & Foerster has appointed Serena Tan as a partner in the corporate group in the firm’s Hong Kong office.
A native Mandarin speaker, Tan comes to the firm from Debevoise & Plimpton bringing expertise in fund formation and fund management.
Her joining Morrison & Foerster also further builds on the firm’s recent expansion in Hong Kong.
Tan represents a wide range of sponsors and investors in the formation, structuring and related activities of buyout funds, growth capital funds, venture capital funds, co-investment vehicles, and other alternative investment funds. She also advises fund sponsors on carried
The private equity credit and fund restructuring team of institutional alternative asset manager Crestline Investors has closed four transactions committing a combined total of more than USD200 million in capital.
Crestline also assumed governance rights across another USD250 million of capital contributed or rolled by existing investors.
The group, first launched in October 2016, pursues niche financing opportunities in the private equity markets by providing bespoke capital solutions, including preferred equity and flexible debt structures, to mature private equity funds approaching the end of their structural lives.
Recently closed deals encompassed a broad range of industries, such as
Adams Business Credit, a national asset-based lender, is to rebrand as Context Business Lending, bringing the firm in unison with the family of businesses and affiliates under Context Capital Partners, an alternative investment firm.
The newly named Context Business Lending will continue to focus on providing flexible working capital solutions for businesses that do not qualify for traditional bank financing.
Context Business Lending typically provides loans of up to USD15 million for lower middle-market businesses that may be experiencing some type of challenge, which may include: rapid growth; seasonal fluctuations; supply chain and vendor pressure; operating losses/negative net worth;
There is an increased focus on private equity operational efficiency, with 88 per cent of private equity firms saying they are more operationally focused today compared to three years ago, according to a study by SS&C Technologies.
The reasons behind this are varied, but ultimately map back to protecting investor interests. Governance and controls (62 per cent), increased demands for transparency (53 per cent), and a strong management team (85 per cent) are all cited as leading factors for why limited partners would select a general partner.
The research was conducted by polling SS&C private equity customers as well
Prestige Fund Management has launched a second new share class (Participating ID Shares) for a Middle East based, sovereign wealth fund (SWF).
The new mandate, from a single group in the region, involves a minimum three year commitment to Prestige’s direct lending strategy.
Unlike the first share class launched last month, this share class will be open to outside institutional investors and available in a range of hedge currencies (GBP / EUR / USD / CHF).
The initial allocation of USD20 million is structured via a dedicated share class that will pay a quarterly coupon of 1-2 per
Edmond de Rothschild Asset Management’s BRIDGE (Benjamin de Rothschild Infrastructure Debt Generation) platform has now reached EUR1.2 billion and has tripled in size since the first closing of FCT BRIDGE I in July 2014 with EUR400 million.
The second closing of BRIDGE II has been completed, after a first closing in early December.
The fund brought together a group of new investors based in France, Belgium, Germany, Spain and Italy, as well as existing investors from the first-generation fund, FCT BRIDGE I.
BRIDGE II (Luxembourg law vehicle) is expected to reach its final closing by this summer, with similar
Pan-European private equity firm IK Investment Partners has appointed Johan Van de Steen as operating partner as of April 2017.
Van de Steen will head IK’s strategy, operations and business control (SOBC) team.
Van de Steen, 51, has substantial hands-on industrial experience, acquired over more than two decades in the corporate, management consulting and private equity environments. He began his career in industry, working for Siemens before joining McKinsey & Company as a strategy consultant. He then became one of the founding European team members of KKR Capstone. He spent 15 years in private equity before joining IK.
MPP Global, a high growth technology business delivering digital monetisation services to the media, sport and retail sectors, has completed a GBP12 million (USD15 million) Series B financing round from Albion Ventures and Grafton Capital.
Based in Warrington, UK, MPP Global counts major global media companies including Sky, News UK, Daily Mail Group, L’Equipe and McClatchy among its clients.
MPP Global’s platform, eSuite, converts and retains paid users for its clients, and is unique in its integration of identity management and automated subscription billing. Global digital media revenues totalled USD90 billion in 2016 and are forecast to grow 7
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