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Africa-focused private equity firm DPI’s ADP I Fund has sold its 27.7 per cent shareholding in CAL Bank in Ghana to Arise, a financial services investment company whose major shareholders are Norfund, Rabobank and FMO.
The deal is due to complete on 14 February 2017.
CAL Bank is one of Ghana’s leading independent banks and is active in corporate, retail and investment banking. CAL Bank is listed on the Ghana Stock Exchange and is the third largest bank in Ghana based on loans advanced. With the support of Arise, CAL Bank is well-positioned to deliver future growth in Ghana,
Sovereign Capital is to back the management buy-out of Arachas Corporate Brokers, an insurance brokerage operating in Ireland.
Sovereign will work with the management team to further grow and develop the business through a strategy of buy and build.
The transaction is subject to approval from the Central Bank of Ireland.
Established in 2004, Arachas is a corporate, SME and affinity scheme brokerage delivering exclusive insurance facilities and financial planning services to the Irish business community.
The business, which employs over 130 people in its offices in Dublin, Cork and Waterford, will continue to be led by
Middle market private equity firm Calera Capital has acquired a majority stake in the Evans Network of Companies, a provider of intermodal and other trucking services through a non-asset based agency model.
Bo Bates, Evans’ CEO, the Evans family and management will retain a significant equity interest in the business. Terms of the transaction were not disclosed.
James Halow, managing director of Calera Capital, says: “Evans has a long and successful track record of supporting and growing its agent network and servicing agents, drivers and shippers with a comprehensive and highly value-additive offering. We are excited to be partnering
Jean Raby is to join Natixis on 20 February as CEO of Natixis Global Asset Management, in charge of its asset management, private banking and private equity business lines.
He will also be a member of the senior management committee.
“I would like to applaud Pierre Servant and thank him for his vital contribution to the success of Natixis’ strategy and in particular to the outstanding growth of the asset management business during his time at the helm. His vision for the business and his involvement with teams have made Natixis Global Asset Management one of the main asset
Crowdfunding outperformed private equity with investment into non-listed high growth companies in the UK in 2016, according to a report from research agency Beauhurst.
Seedrs, the Neil Woodford backed investment platform, has again been named top investor into private companies in the UK, with Crowdcube, another notable crowdfunding site coming in second.
Beauhurst says: “If there is a reason to be optimistic about prospects for equity finance, it lies with crowdfunding.”
Seedrs funded 134 deals in 2016, with Crowdcube behind on 124. In fact Seedrs confirmed that 2016 was the platform’s strongest year to date with more than GBP85
Mourant Ozannes has acted as Cayman Islands counsel for the buyer group in connection with the take-private of China Nepstar Chain Drugstore, a Cayman Islands exempted company formerly listed on the New York Stock Exchange.
The take-private was effected by way of a Cayman Islands statutory merger, pursuant to which China Nepstar ceased to be a publicly traded company and became a wholly-owned subsidiary of the buyer group.
China Nepstar Chain Drugstore is a retail drugstore chain in China. As of 30 September 2015, the company had 1,965 directly operated stores across 71 cities, one headquarter distribution centre and
Fund-level benchmarks, which institutional investors have relied on for decades to evaluate private equity managers and opportunities, no longer provide a complete picture, according to investment firm Cambridge Associates (CA).
The continued expansion and evolution of the private equity market is challenging the singular usefulness of fund-level "net to limited partner (LP)" benchmarks, it says.
Investors' pursuit of co-investment and direct investments in portfolio companies; increased fee and carry variability across managers and LP investors; and managers' expansion into new strategies and geographies are complicating institutional investors' investment evaluation efforts. Investors need to go beyond fund-level benchmarks to judge
Palatine Private Equity-backed holiday park group Verdant Leisure has acquired its seventh leisure park.
Crosslaw Caravan Park in the Scottish Borders is the third holiday park purchase in the last nine months for the bespoke leisure park operator.
The park will be renamed Coldingham Bay Leisure Park with immediate effect and it brings Verdant Leisure’s portfolio to seven parks across southern Scotland and North East England.
This latest acquisition continues the company’s growth strategy to create a strong regional group with significant scale. Verdant Leisure is keen to add further parks to its offering during 2017.
Located
The Russian Direct Investment Fund (RDIF) has formed a consortium of investors to participate in the secondary public offering (SPO) of PhosAgro shares.
Together with RDIF, the Russia-China Investment Fund (RCIF), which was established by RDIF and the China Investment Corporation, and funds from the Middle East participated in the acquisition of a minority equity position in one of the world’s largest vertically-integrated producers of mineral fertilizers.
Kirill Dmitriev (pictured), co-CEO of RCIF and CEO of RDIF, says: “We believe in the attractiveness of the Russian equity market and are willing to participate in numerous notable offerings alongside our
Shard Capital Partners has held the first closing of the Suir Valley Venture Fund of Suir Valley Funds ICAV, the first Irish focused venture capital fund in Ireland that uses a regulated fund with a fully regulated Alternative Investment Fund Manager (AIFM).
The fund invests in early stage software companies in the financial technology, augmented reality, virtual reality and internet of things sectors.
The fund’s first close has been funded via commitments of up to EUR20 million from Enterprise Ireland, the Irish Government Agency, and Shard Capital.
UK based Shard Capital will be managing the fund in Ireland
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