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Private equity investor Advent International has acquired a significant minority ownership interest in ASK Group, an investment and wealth management business in India.
ASK Group’s founders will retain a majority stake in the company and the management team will continue to lead the business. Financial terms were not disclosed.
The transaction is the first investment that Advent has made in India from its new USD13 billion global private equity fund, GPE VIII, and its third investment in India in the past two years following the purchase of equity stakes in Crompton Greaves Consumer Electricals and QuEST Global Services.
London-based private equity firm Metric Capital Partners has backed gaming and lottery technology supplier Win Systems’ acquisition of Gold Club, a Slovenian-headquartered developer and operator of gaming machines and electronic roulettes.
The combination of the two companies will create an emerging leader in the global gaming industry, capable of offering both lottery and casino clients end-to-end solutions including casino management systems, VLTs, electronic gaming machines and electronic table games.
Following the acquisition the group will have a footprint in Europe, South Africa and the Americas.
The acquisition comes after a period of substantial organic growth for Win Systems,
Lead management company LeanData has received USD10 million in Series B funding led by Sapphire Ventures and joined by existing investors Shasta Ventures and Correlation Ventures.
The financing will help support new partnerships and expand the reach of LeanData's solution, which connects customers with the right sales reps at the right time.
"We have been tracking LeanData's progress the last few years, and it's clear that the company has developed a unique routing solution that solves a foundational challenge every business faces," says David Hartwig, a managing director at Sapphire Ventures. "Sapphire is focused on identifying innovative entrepreneurs and
Funds managed by Inflexion Private Equity have completed a partnership capital, minority investment of GBP41 million in Lane Clark & Peacock (LCP), a firm of financial consultants specialising in pensions, investment and insurance.
LCP’s individual partners turned to Inflexion as a minority investor to support their buyout of the stake in the firm previously owned by Pan African financial services group, Alexander Forbes.
Inflexion’s partnership with LCP will help accelerate organic growth through supporting innovation, adding services and enhancing business development to drive further customer acquisition.
Founded in 1947, LCP provides actuarial, investment and general consulting advice to
Eze Software Group, a provider of global investment management technology, has opened an office in Toronto.
The Toronto location marks a new chapter in Eze Software’s growth in North America, enabling the team to provide faster on-the-ground support for implementations and client operations in Canada.
“As long-time technology partners to Canada’s investment management community, we’ve seen the market become more sophisticated and complex over the last few years,” says Pete Sinisgalli (pictured), CEO. “Having an office in Canada will allow us to be closer to our clients and facilitate faster and better service, in line with our strategy of
PowerGen Renewable Energy, a specialist in developing, building and operating small-scale electricity grids in Kenya and Tanzania, has completed the first close of a USD4.5 million Series A investment.
The round was led by DOB Equity, a Dutch family office, AHL Venture Partners, an impact-focused venture capital firm in Africa, and private investors including Marc Beuls, former president and CEO of Millicom International Cellular, and Billy Harbert, CEO of BLHarbert International.
Over 600 million people in Africa lack access to electricity, of which 80 per cent live in rural areas. Connecting these individuals to national power grids has proven
Van Dijk Educatie (VDE), the Netherlands’ largest provider of learning materials, has teamed up with TowerBrook Capital Partners to accelerate its national and international growth strategy.
The British-American investment fund acquired the majority of shares in the education company Van Dijk on terms that have not been disclosed.
VDE has a turnover of EUR303 million (2016) and plays a leading role in the learning materials market for the secondary and higher education. VDE works with more than 780 educational institutions in the Netherlands and Belgium with a total of over 1.3 million pupils and students. In the past school
Fortress Investment Group is to acquire a significant portion of a EUR17.7 billion portfolio of non-performing Italian loans from UniCredit.
At closing, the UniCredit transaction will represent the largest ever non-performing loan (NPL) transaction in Europe.
Fortress began investing in Italian loans and loan servicing in 2000, with its investment in Italfondiario, which was subsequently transformed from a mortgage bank into a specialised loan management company.
Fortress’s other major transactions include its acquisition in 2005 of EUR13 billion in NPLs from Intesa banking group, and in 2015 the acquisition of specialised servicer UniCredit Credit Management Bank (renamed doBank).
Law firm White & Case has advised The Smithfield Group, managing shareholder of Innovia Group, on the CAD1.13 billion (EUR810 million) sale of Innovia to CCL Industries.
Innovia is a specialist in polymer banknotes and the producer of the UK’s new GBP5 note, which caused controversy when it was revealed that it contains small amounts of tallow.
The transaction is subject to regulatory and other change of control approvals and customary completion procedures, with closing expected by the end of the first quarter of 2017.
“We advised The Smithfield Group on its acquisition of Innovia in 2014, and
An affiliate of private equity firm Gemspring Capital has made an investment in United Group Programs (UGP), a designer, marketer and administrator of healthcare benefit products and services.
Financial details of the investment have not been disclosed.
UGP was founded in 1968 and is both a third-party administrator and managing general agent of healthcare benefits. The company offers specialty products and services that are sold through an extensive broker network to small and mid-sized businesses.
The primary insurance products offered by the company include gap, limited medical, minimum essential coverage and self-funded major medical.
“UGP has a
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