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Star Tech NG, the UK’s first portfolio company focussed on pre-IPO US tech giants, will shortly commence a second round of funding to raise in excess of USD50 million through a listed Guernsey fund.
Accredited investors are still able to participate in its first funding round up to a total of USD5 million.
The new funds will be invested in an expanded portfolio of pre-IPO disruptive technology companies and next generation scale-up stage businesses.
Star Tech NG is the UK’s first investment vehicle to focus directly on privately held US technology companies and has already invested USD1 million
White Oak Global Advisors has rebranded Capital Business Credit, the finance lender and provider of asset-based loans, factoring and trade finance products which it acquired in December 2016, as White Oak Commercial Finance.
“The White Oak Commercial Finance platform will provide asset-based loans, equipment financing, factoring, working capital solutions and credit services, ranging from USD1 to USD100 million, to small- and middle-market companies. This provides a greater number of companies with access to more capital and services than previously offered by either White Oak or CBC individually,” says Andre Hakkak, CEO of White Oak.
White Oak, together with White
Pictet Alternative Advisors (PAA), the alternative investment specialist of the Pictet Group, has held the final close at USD815 million of Monte Rosa IV, the fourth fund in a series of diversified, multi-manager private equity funds.
Maurizio Arrigo, head of private equity at PAA, says: “This is 2.5x bigger than the predecessor fund that closed in 2015. This successful fundraising comes as a confirmation that private equity has now become a major asset class, playing a meaningful role in most investors’ strategic allocation.”
Monte Rosa IV will invest mostly in North American and European buyout funds and to a
OneDigital Health and Benefits, the US’ largest employee benefits-only company, is to partner with New Mountain Capital, a growth-oriented investment firm headquartered in New York City.
New Mountain is acquiring the majority ownership position from Fidelity National Financial Ventures (FNFV) and will provide strategic guidance and industry expertise to help drive OneDigital’s continued growth.
Adam Bruckman, president and CEO of OneDigital, says: “When seeking the right partner to support OneDigital’s future, we wanted a group that would be a great cultural fit and have proven experience in both healthcare and brokerage distribution. We have a tremendous opportunity in front
International law firm McDermott Will & Emery has added a new corporate team in its Milan office with the arrival of three partners, Giancarlo Castorino, Ettore Scandale and Emidio Cacciapuoti, and a team of four counsel and 10 fee earners.
The team joins from the Milan office of King & Wood Mallesons (KWM). Castorino had been the office’s managing partner, succeeding Scandale who previously held the role.
Ira J Coleman, chairman of McDermott, says: “This group is a great addition to McDermott as we extend and deepen our relationships with both local and global clients as a leading firm
Global private equity firm HIG Capital has sold Brand Addition to Elysian Capital.
Terms of the transaction have not been disclosed.
Headquartered in the UK, Brand Addition is a global service provider in the design, sourcing and distribution of promotional merchandise to large corporates predominantly in the automotive, engineering, health and beauty, FMCG, technology and financial services industries.
Following the carve-out from 4imprint in March 2011, HIG teamed with Chris Lee and the senior executives of Brand Addition to reposition the business, increasing the range of services and geographic reach, and shifting the emphasis to focus on large
Guernsey Finance, the island’s offshore finance promotional agency, has promoted Kate Clouston to the position of deputy chief executive.
Since starting with Guernsey Finance in 2015 as the agency’s first director of international business development, Clouston (pictured) has been responsible for leading business delegations and promotional activity in South East Asia, North America and Europe.
Her work has had a focus on evaluating and developing these target markets, through implementation of development strategies around emerging financial products, and attracting new companies or business to Guernsey.
Guernsey Finance chief executive, Dominic Wheatley, says: “Kate brings a tremendous level of
CohnReznick, a US-based accounting, tax, and advisory firm, has tapped Netherlands-based Marc Altena to serve as EMEA advisory services leader and leader of the firm’s newly formed European subsidiary, CohnReznick Netherlands, based in The Hague.
Altena is an experienced consultant specialising in business and technology transformation solutions.
Previously, he served as managing partner of a Netherlands-based consulting firm, working with clients throughout EMEA in the real estate, insurance, and banking sectors. He brings expertise in business transformation strategy, process optimisation, international project management, change management, and global technology implementations.
The practice serves real estate, private equity, and life
YFM Equity Partners has appointed James Savage as portfolio director.
Based in the London office, he will focus on actively managing YFM’s growth and buy-out investments as part of the portfolio team led by David Bell.
With over 12 years’ industry experience, Savage joins from Barclays’ Principal Investments team (formerly Barclays Ventures) where he was vice president, working on a range of transaction types, situations and across sectors with a primary focus on value creation and realisation. Prior to this he advised private equity sponsors and management teams at BDO.
David Hall, managing director of YFM, says: “We
ThoughtRiver, a developer of contract intelligence AI software, has raised more than USD1 million from a group of investors, including former Vodafone UK CEO Guy Laurence and Michael Findlay, chairman of Morgan Sindall and former co-head of investment banking for Bank of America Merrill Lynch.
The funding round, which was also listed on SyndicateRoom, an online equity investing platform, and promoted by Cambridge Capital Group, was oversubscribed within 11 days.
Founded in 2013 by Tim Pullan, ThoughtRiver has developed software that uses AI to scan and interpret information in written contracts. It produces visuals of the potential risks in
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