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Moderne Ventures, a Chicago-based venture capital firm focused on early stage investments in technology companies, has closed its early stage venture investment fund with USD33 million in total commitments.
Launched in 2015 by Constance Freedman, Moderne identifies and invests in cutting-edge technology companies who have a shared purpose of modernising highly-regulated, multi-trillion dollar industries.
These markets represent 20 per cent of the US Gross Domestic Product (GDP) and spend billions of dollars annually on marketing, technology and business services.
Moderne provides its early stage investments with proprietary access and exposure to the Moderne Network – more than 400
GBfoods has partnered with Helios Investment Partners, an Africa-focused private investment firm, to create one of Africa’s largest fast moving consumer goods (FMCG) businesses.
GBfoods Africa Holdco, a joint venture owned by GBfoods and Helios, has acquired assets from different African companies including leading brands such as Jumbo (bouillon), Gino and Pomo (tomato paste), and Jago (milk powder and mayonnaise), as well as Bama (mayonnaise) distribution rights for Africa.
This will result in a pan-African culinary products company with presence in over 30 African countries.
GBfoods chief executive, Ignasi Ricou, says: “GBfoods has a long history operating in
European private equity firm Doughty Hanson has rebranded as DH Private Equity Partners.
The rebranding reflects the firm’s new broader ownership structure and sole focus on private equity, while providing strong links to Doughty Hanson’s heritage.
Dick Hanson, senior partner of DH Private Equity Partners, says: “Since the beginning of 2015, we have returned nearly EUR2 billion to investors, focused the business purely on private equity and restructured the firm around an aligned team, led by myself. It makes sense therefore to rebrand the firm for the future in a way that reflects the changes but preserves the strong
The Goldman Sachs Asset Management (GSAM) Petershill programme has made a minority equity investment in technology-focused private equity Accel-KKR.
The investment by the Petershill programme is a passive, non-voting stake in Accel-KKR that represents less than 10 per cent of the economic interests of the firm.
Tom Barnds and Rob Palumbo, managing directors of Accel-KKR, say: “This investment follows a 15-year relationship between Accel-KKR and Goldman Sachs Asset Management under which Goldman Sachs Asset Management funds have invested across all three of Accel-KKR’s strategies – buyouts, growth capital and credit.”
Proceeds from the Petershill investment will be primarily
Neuberger Berman has appointed Jonathan Bailey as head of environmental, social and governance (ESG) investing.
Bailey is based in New York and reports to Joseph Amato, president, Neuberger Berman.
In this role, Bailey will work with the firm’s investment teams and research departments to further incorporate ESG principles into the equities, fixed income and alternatives platforms. He will help portfolio managers consider ESG as part of their analytical approach to evaluating companies and markets. He will also chair the firm’s ESG Investment Advisory Committee.
“As a firm, we have a deep history in ESG investing, going back to
The total value of private equity business in the international finance centre of Guernsey has surpassed GBP100 billion for the first time.
Figures from the Guernsey Financial Services Commission show that the net asset value of private equity funds under management and administration in the island grew by GBP25 billion over the course of 2016 to stand at GBP110.3 billion at the end of December.
Substantial launches during the course of last year by big ticket private equity promoters including Permira, Apax Partners, Cinven, Macquarie, Partners Group and Inflexion all contributed to the record-breaking high.
Guernsey Finance chief
Hatteras Funds, a provider of alternative investment solutions for financial advisors and their clients, has formed a partnership with private capital firm Portfolio Advisors to serve as sub-adviser for the Hatteras Core Alternatives Fund.
In 2003, Hatteras Funds created the Core Alternatives Fund to deliver the potential return enhancement produced by a diversified, seasoned evergreen private investment programme complemented by the risk mitigation benefits of a portfolio of hedge funds.
Hatteras Funds recently communicated with advisers and investors that the core fund’s sub-adviser change was a necessary step to improve the fund’s performance and fulfil its commitment to investors.
Oakley Capital Investments’ Oakley Capital Private Equity III (Fund III) has completed a deal to acquire the assets and operations of Plesk, at an enterprise value of USD105 million, as a carve out from the Parallels Group.
Fund III has invested USD27.4 million for a 51 per cent controlling stake in the business. The company’s indirect contribution through its interest in Fund III is approximately GBP10 million.
First released in 1999, Plesk is one of the most widely used control panels and software platforms for simplifying the lives of Web Professionals. Plesk’s web-server management tools secure and automate server
Private equity investment firm HIG Capital has agreed to acquire a majority stake in CONET Technologies, an IT consulting, IT systems integration and software development company headquartered in Hennef (Sieg), Germany.
The CONET management team, headed by CEO Anke Höfer, will continue to lead the company.
Founded in 1987, CONET offers a range of services and solutions in software development, SAP consulting, IT infrastructure and IP-based communications. The company is a highly reliable partner to many German and Austrian blue-chip customers in the public and private sectors.
HIG will support CONET’s management team as shareholder and through its
Akin Gump has appointed Michael Joyce as a partner in its global energy and transactions practice in Singapore.
Joyce comes to Akin Gump from Norton Rose Fulbright, where he was head of the oil and gas group for Australia.
He has relocated from Sydney, Australia, back to Singapore where he was based earlier in his career.
Joyce has more than two decades of experience advising private sector and government clients on matters involving natural gas and oil value chains. This includes acquisition of upstream assets and operational oil and gas field businesses; negotiation of joint operating agreements, farm-in
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