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Blue River Partners, together with Eaton Partners, have co-authored a whitepaper aimed at the alternative assets industry which examines the history and impact of the outsourcing trend on today's market, and provides answers to questions frequently asked by managers.
The topics covered include: the history of outsourcing and the current market reality; evaluating whether to outsource or not, and how to choose a service provider; what can go wrong and if a company can outgrow outsourcing; if CFOs and/or CCOs are still necessary when associated functions are outsourced; and investor and regulatory responses to outsourcing.
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Gide has advised US fund KPS Capital Partners on the acquisition of Winoa, which includes WHA Holding and its affiliates, from a consortium of investors led by KKR.
Founded in 1961, Winoa, whose historic headquarters are located in Cheylas, France, is a global manufacturer of steel abrasives with over 10,000 customers worldwide across the transportation, equipment, energy and construction end-markets.
Winoa operates 11 manufacturing facilities located in Europe, North America, South America, Asia and Africa, and employs over 1,000 people worldwide.
Legal counsel to KPS Capital Partners were Nadège Nguyen (partner) and Hugo Nocerino on corporate aspects; Bertrand Jouanneau
Private equity funds continued to invest across Europe in 2016 with an 18 per cent annual growth rate in deals volume, according to data released by Clearwater International.
Clearwater’s latest Multiples Heatmap Analysis reveals that the growth in volume was accompanied by increased values, with PE funds paying on average a 10.2x EBITDA multiple in 2016, an increase from the average acquisition multiple of 10.0x in 2015.
Values peaked in the final quarter of last year at 10.6x overall average multiple.
TMT led the way in 2016 with an average multiple of 11.1x (peaking at 12.6x in Q4)
BakerHostetler has added partners Goodarz “Goody” Agahi and Ryan Gaglio and associates Pace McCaskill and Ron Birnkrant to the firm’s Costa Mesa office.
Agahi, McCaskill and Birnkrant join the firm’s business and corporate group and Gaglio joins the tax practice.
The team comes to BakerHostetler from Stradling Yocca Carlson & Rauth.
Agahi focuses his practice on complex business transactions, including mergers and acquisitions, leveraged buyouts, restructurings, recapitalisations and financings. He has represented clients in matters in various industries, including, among others, apparel, technology, consumer products, medical devices and pharmaceuticals. Agahi also acts as general outside counsel for clients,
Twin Brook Capital Partners, the middle-market direct lending subsidiary of Angelo, Gordon & Co, has appointed Garrett Ryan as a partner and head of capital markets, effective immediately.
At Twin Brook, Ryan will be responsible for all capital markets related activities and will be based in Chicago.
“Garrett is an accomplished executive with extensive experience originating, structuring, and overseeing the execution of middle-market leveraged transactions,” say Trevor Clark and Chris Williams, co-heads of Twin Brook. “Given the overwhelming demand we have received from our private equity clients to agent and lead their transactions, we believe the timing is right
Venture capital fund Suir Valley Ventures, which was launched in partnership with Shard Capital Partners in February 2017, has made its first investment in Immersive VR Education (IVRE), a developer of virtual reality (VR) software and immersive experiences with a specific focus on education.
Suir, together with Kernel through the Bank of Ireland Kernel Capital Venture Funds and Enterprise Ireland, have invested a combined total of EUR1 million in IVRE.
A spin-out from WIT's research-based Telecoms Software and Systems Group (TSSG), IVRE’s platform provides virtual reality content that can be used in schools, colleges, universities, research centres and corporate
Italian security firm Axitea has received majority approval for a proposed deal with creditors on its EUR200 million total debt, aimed at ensuring the going concern of the business.
The deal, which subject to final court approval, will see the injection of EUR32 million of fresh finance into the business via a new vehicle, specifically created by private equity firm Stirling Square Capital Partners.
Gattai, Minoli, Agostinelli & Partners advised Axitea and Stirling Square Capital Partners on the legal profiles of the deal through a team composed of partners Riccardo Agostinelli and Sergio Fulco, and associates Riccardo Sgrò and
The California Alternative Investments Association (CalALTs), whose members include alternative asset managers, investors and service providers in California, has issued a white paper on best practices for hedge fund and private equity operations.
Operational due diligence has played a more pivotal role in the hedge funds and private equity firms as the alternative investment industry has developed over the past 10 years.
The white paper, which was developed by the CalALTS Best Practices Committee, seeks to outline crucial operational best practices for the industry.
Areas of focus include: general operational best practices including internal staffing; portfolio valuation best
Quantexa has closed a USD3.3 million Series A investment, led by Albion Ventures and HSBC with the new capital set to be used to further accelerate product development and international expansion.
Founded in 2016 by a team of world-class software, data and advanced analytics experts, Quantexa currently uses big data analytics to tackle complex financial crime and data challenges within the financial services, corporate and public sectors.
In its first year, the company has been awarded several significant enterprise mandates in its target sectors.
The investment will enable Quantexa to further accelerate the development of its Entity Resolution and Network
BioPharma Credit, a newly incorporated investment trust, has raised gross cash proceeds of USD373,265,200 from a successful placing, offer and PL subscription following a book-building process.
The company has also received an additional subscription of USD50,000,000. No further additional subscriptions are expected.
Further to the announcement released on 20 March 2017, the company has decided to satisfy in full the demand received pursuant to the tender offers and will issue 338,612,160 shares totalling USD338,612,160.
Gross issue proceeds therefore total USD761,877,360 and the company will issue 761,877,360 shares. This exceeds the company’s initial target of USD300 million.
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