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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
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
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