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Fried Frank has advised longstanding client Permira on the raising of its latest flagship buyout fund, Permira VI.
The fund reached its final close in December 2016 at EUR7.5 billion.
Permira VI will invest in mid to large cap buyouts with exposure to faster-growing international markets and sub-sectors. The fund focuses on market-leading businesses with strong growth potential across diversified industries and geographies.
The Fried Frank team included asset management partners Richard Ansbacher and Kenneth Rosh, and associates Alex Kaufman, Nicole Lares and Jessica Pevzner; and tax partner David Shapiro and associate Steven Gilbert.
Fried Frank has advised Dyal Capital Partners, a division of Neuberger Berman, on the formation of Dyal Capital Partners III, a fund formed primarily to acquire interests in third-party private equity managers.
The fund exceeded its original fundraising target by more than USD2 billion, closing at USD5.3 billion in December 2016.
The new fund has already committed more than half its capital in six transactions, buying stakes in Vista Equity Partners, EnCap Investments, Silver Lake Technology Management, HIG Capital, Starwood Capital Group and KPS Capital Partners.
The Fried Frank team included asset management partner Richard Ansbacher and associates
Crown Capital Partners, a provider of growth capital to mid-market companies, has appointed Michael Overvelde to the position of senior vice president, finance.
Overvelde, who has more than 25 years of experience in capital markets and accounting, was most recently vice president, equity research analyst at Raymond James covering the Canadian diversified financials sector.
His equity research experience also includes roles at TD Securities and UBS Securities Canada, covering companies in banking, insurance and industrials.
Overvelde previously spent approximately 10 years in senior institutional equity sales positions at National Bank Financial and UBS Securities Canada.
Prior to
Ameredev II has closed an equity commitment of USD400 million from EnCap Investments and members of Ameredev management.
Ameredev is an Austin-based exploration and production company focused on the acquisition and development of oil and gas resources in the US.
The company is led by a multi-disciplined management team with a track record of value creation through commercial and operational excellence – most recently demonstrated by its USD633 million sale of Core Southern Delaware Basin assets to Callon Petroleum Company.
Parker Reese, Ameredev chief executive officer, says: "The EnCap team's focus on relationships, balanced commercial and technical perspective,
ACV Auctions, a mobile platform that enables used-car dealers to view, bid and purchase car inventory via online auctions, has secured USD15 million in venture funding led by Bessemer Venture Partners (BVP) with participation from existing investors.
ACV will use the funds to expand into new territories.
BVP partner Bob Goodman will join the board of directors.
This series B funding builds on the USD5 million in venture capital that ACV Auctions secured in 2016, led by Tribeca Venture Partners, with participation from SoftBank Capital NY (SBNY), Armory Square Ventures and Rand Capital.
Additionally, ACV Auctions secured
Distressed debt private equity fund manager Maverick Real Estate Partners has reached its hard fundraising cap for Maverick Lien Fund IV LP with USD75 million in commitments from endowments, foundations, family offices and wealth managers.
The fund is now closed to new investors.
"Maverick is grateful for the support of our new and long-standing investors, and is overwhelmed by the interest in our contrarian investment strategy," says David Aviram, principal and director of acquisitions.
Maverick acquires defaulted commercial mortgages, mechanics liens, and judgments secured by real estate located in the New York City area.
"Given Maverick’s local expertise, availability
Advanced Logic Analytics (ALA), a provider of enterprise wide big data and finance analytics solutions for buy- and sell-side institutions and other financial firms, has launched its core big data analytics platform, ALA OneLogic.
ALA OneLogic was developed to provide advanced big data analytics capabilities for financial markets firms requiring powerful mining, processing, managing and analysis of their enterprise-wide information assets and external data sources, in one optimised platform.
Nick Ellis (pictured), managing director at ALA, says: “Big data is complex and in itself it does not create value. Firms that are able to become masters of data through
Southeast Asian online-to-offline (O2O) e-commerce specialist Fave has acquired Groupon Singapore.
The acquisition is set to solidify the company's efforts in helping consumers save, while driving growth for local businesses across SEA.
The acquisition of the Groupon Singapore's business follows similar acquisitions of Groupon Indonesia and Malaysia in 2016. Thus far, Groupon Malaysia has been fully integrated into Fave, while Groupon Indonesia is set to follow suit in the coming months. Groupon Singapore will see a similar integration into Fave by mid-2017.
The transaction is expected to close later this week.
The Fave team, who also
Ardian, Keensight Capital and Parquest Capital have completed their acquisition of Unither, a pharmaceutical contract development manufacturing organisation (CDMO), alongside the company’s existing management team.
Unither was acquired from a consortium led by Equistone Partners Europe.
Unither is a specialist in blow-fill-seal (BFS) technology, which uses sterile unit doses to eliminate the need for preservatives. Unither operates six manufacturing sites in France, the US and Brazil, and has a dedicated research and development centre in Europe.
Following their acquisition of Equistone Partners Europe’s majority stake in the Unither Pharmaceuticals group, Ardian, Keensight Capital and Parquest Capital will support
Arena Investors has joined SB Capital Group (an affiliate of Schottenstein) and 360 Merchant Solutions in a partnership to fund new institutional asset management firm Scargo Hill Capital and its investments.
The partnership provides Scargo Hill with the capital to finance senior secured private credit investments that address a substantial market dislocation in the lower middle-market, especially across emerging growth retail companies, consumer wholesale brands and companies in situations requiring transition capital.
“Arena actively seeks to partner with industry experts and proven asset managers that provide access to niche origination strategies and unique investment opportunities and this is exactly
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