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Private equity firm OpenGate Capital has completed the sale of Getronics LATAM to Southern Cross Group, a Latin American private investment firm.
The exit yields greater than 11 times invested capital for OpenGate Capital. Financial terms of the transaction have not been disclosed.
Getronics LATAM, with operations in Mexico, Colombia, Peru and Venezuela, is an integrated ICT products and services provider for the large enterprise market including workspace management services, connectivity, data centers and consultancy services.
OpenGate Capital first entered the Latin American market in 2010 through its acquisition of Sopho, a Brazilian IT services company, from Philips.
Versant Ventures has closed its newest fund, Versant Venture Capital VI, at its hard cap of CAD538 million (USD400 million).
Versant will use its diversified global investment strategy to find, form and fund innovative healthcare companies with an emphasis on novel therapeutics.
Fund VI was highly oversubscribed and was supported by existing and new limited partners including Canadian investors Teralys Capital, Northleaf Venture Catalyst Fund, HarbourVest Partners and Fonds de solidarité FTQ.
The fund will invest in 20-25 biotechnology companies in the US, Canada and Europe. Versant expects to make its initial investment from the new fund in the
SOSV, an accelerator-based venture capital firm, has closed SOSV III, its first fund open to external investors, at USD150 million.
With more than 150 start-ups backed annually through its accelerators, SOSV is the world’s third largest seed investor by volume.
SOSV’s accelerator model takes a small stake in start-ups and provides a framework and community where start-ups get further and faster than they could on their own.
“Since 2010, we’ve provided follow-on funding to those companies who develop significant traction and financing support,” says Sean O’Sullivan, SOSV managing partner. “It’s a proven model…giving us both extraordinary quality and
Law firm Akin Gump has elected 10 new partners, effective 1 January 2017.
The 10 individuals and their respective office locations are Gerald Brant (New York), Olivia Chung (New York), Olivier De Moor (New York), Sophie Donnithorne-Tait (London), Mahmoud (Mac) Baki Fadlallah (Dubai/Washington, DC), Jaisohn Jungbin Im (New York), Allison P Miller (New York), Daniel L. Moffett (San Antonio), Alexander Specht (New York) and Annisah Iman Um’rani (Washington, DC)
“The lawyers promoted to partner this year are a very talented and diverse group of individuals,” says Akin Gump chairperson Kim Koopersmith (pictured). “I know they will continue to work tirelessly
Indus Valley Partners (IVP), a provider of technology solutions to alternative asset managers, has launched IVP for Private Equity, an end-to-end solution designed to manage portfolio companies, deals, cash flows, water falls and expenses under one platform.
IVP for PE integrates the front, middle and back office across a single deal management platform, while combining in-built in deal analytics, centralised portfolio company data collection, predictive analytics, scenario analysis capabilities coupled with core data management functions to ensure accuracy, consistency and audit trails across data sources.
"PE firms are feeling the inherent limitations of reliance on excel,” says Gurvinder Singh (pictured),
Fried, Frank, Harris, Shriver & Jacobson has named Jeremy Berry as a partner in the firm’s asset management practice.
Berry (pictured) will be based in New York.
Berry has experience in advising large private equity and hedge fund managers on matters involving private investment funds and complex corporate transactions, with a focus on private equity and hedge fund formation and other alternative investment matters.
"Jeremy brings a wealth of experience representing some of the most prominent private equity and hedge fund sponsors and investment banks, as well as a broad range of other investment management clients," says David Greenwald, chairman of
Private equity firm TA Associates has promoted four investment staff members in the firm’s Boston, London and Mumbai offices, effective 1 January 2017.
“These talented individuals earned their promotions through the quality of their character and, consistent with their roles, demonstrated investment judgment, creativity and work ethic to generate positive investment performance for TA’s investors, as well as other meaningful contributions to the firm,” says Brian J Conway, chairman and managing partner at TA Associates. “We are pleased to recognise their accomplishments thus far and look forward to their continued contributions to TA Associates.”
Birker B Bahnsen has been promoted
Apex Fund Services has appointed Daniel Strachman as head of US business development.
Strachman (pictured) brings more than 20 years of financial services experience having held positions at Cantor Fitzgerald and Morgan Stanley.
He led A&C Advisors for 16 years delivering strategic guidance, counsel and support to investment management companies and institutional investors.
Strachman is the author of nine investment strategy books including “The Fundamentals of Hedge Fund Management and Getting Started in Hedge Funds”. In his new role at Apex he will drive US growth initiatives and deliver fund management clients with proactive fund administration solutions.
GFM has further strengthened its team with the appointment of Christine Gill (pictured) as Head of Content and Commercial for Private Equity Wire and Property Funds World.
Gill will be responsible for the evolution of client content across Private Equity Wire and Property Funds World and the development of client digital portfolios. She will be leading on the content and production of Private Equity Wire and Property Funds World global events (breakfast briefings, global private equity awards, forums and investor networking events) which are due to be launched later this year.
Gill joins from Aspermont Media where she was instrumental in
Hong Kong-headquartered Chateau Segonzac International Group has launched an international Winery mergers and acquisition fund in the United States.
Chateau Segonzac International owns Bordeaux-based Chateau Segonzac, a 40-hectare vineyard, which produces Cabernet Sauvignon, Merlot and Malbec. The company is jointly funded by Austchi Dragon and a number of other Hong Kong and Mainland China enterprises, and is looking to purchase more high-quality wineries worldwide, including the United States and Italy, in 2017.
"Our goal is to create added value for capital venture and investment fund, by building a bridge among investors, wine producers and consumers," says Kelvin Li, executive president of Chateau Segonzac International Group. Li says all wineries his company
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