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Vivaris Capital has created what it says is the first private equity hedge fund, which is designed to deliver superior alternative asset returns while mitigating downside risk.
The structure deployed by Vivaris uses a portfolio of investment grade securities to diversify risk and to provide liquidity.
The investment strategy targets middle-market, well-established companies and late-stage technology businesses that are at an inflection point and poised for growth. Capital and aggressive management then drive product, sales and market expansion.
The fund also invests in and acquires value-added residential and commercial real estate developments where renovations and marketing can lead
Law firm Morrison & Foerster (MoFo) has appointed Dennis Jenkins, a financial restructuring lawyer with 20 years of experience, as a partner in the firm’s New York-headquartered business restructuring and insolvency group.
Jenkins, who comes to the firm from WilmerHale, is the fourth new business restructuring and insolvency partner to join Morrison & Foerster over the last year, following the arrival of Jonathan Levine in New York, and Peter Declercq and Sonya Van de Graaff in London.
“I am pleased to welcome Dennis to our growing global restructuring team,” says Brett Miller, managing partner of the New York office
Gamut Capital Management has closed its debut middle market private equity fund, Gamut Investment Fund I, at USD1 billion, exceeding the fund’s USD750 million target.
Gamut’s flexible investment strategy incorporates leveraged buy-outs, corporate carve-outs, strategic partnerships, and distressed-for-control situations.
The fund’s target investment size ranges from USD50 million to USD150 million with an ability to selectively scale up its capital commitment in partnership with its LPs.
Gamut’s founding partners, Stan Parker and Jordan Zaken, have more than 30 years combined experience investing across sectors, capital structures and cycles. Target industries include agriculture, chemicals, telecom, industrials, mining, power, distribution,
Greenstone Equity Partners, a fund placement firm based in the Middle East, has hired Sean Kearney as chief operating officer and Khalid Alkelabi as managing director, investor relationships.
Kearney (pictured) is an emerging markets banking professional with a 23-year career devoted to identifying and managing risk. His key responsibilities will include operations team leadership, lead-managing the implementation of internal control framework enhancements, running regulatory processes and overseeing strategic change management.
Prior to joining Greenstone, Kearney worked for a decade at UBS in London and Dubai. In his last position with the firm as group COO, Middle East and North
Altus Capital Partners, an investment firm focused on middle market manufacturing companies in the US, has sold Rocla Concrete Tie, based in Denver, Colorado, to German-based rail infrastructure supplier Vossloh Group.
Altus Capital realised an estimated 4.5x return on its equity, made through Altus Capital Partners II in May 2013.
Founded in 1986, Rocla manufactures pre-stressed concrete railroad ties and turnout ties for Class I railroads, commuter passenger operations, transit authorities and industrial operations.
Altus Capital acquired Rocla to participate in the expected need of superior and durable concrete ties that reduce maintenance and prolong rail life.
Clayton, Dubilier & Rice has completed the equity investment by CD&R-managed funds and existing management in Drive DeVilbiss Healthcare.
Terms of the transaction have not been disclosed.
The new partnership with CD&R will enable Drive to continue its organic growth strategy, as well as provide Drive with additional capital to pursue future acquisitions, which is expected to result in continued growth in the years ahead.
Formed in 2000, Drive has become a leading manufacturer of durable medical equipment with a strong and consistent track record of growth achieved both organically and through acquisitions.
The company’s product portfolio,
Peter Brown has been appointed head of funds at RBS International to drive the expansion of the bank’s offering to the alternative funds sector.
Brown (pictured) has more than 25 years’ experience in corporate and institutional banking, and most recently headed up the RBS Financial Institutions Group in the UK, which included the RBS funds banking business in London.
Prior to that, he was one of the founding members of the RBS mid-market leveraged finance business, delivering multi-million-pound buyout transactions alongside key private equity sponsors.
Brown now leads a funds banking team that supports more than 1,000 fund
Bowmark Capital, a mid-market private equity firm, and Five Arrows Principal Investments, the private equity business of Rothschild Merchant Banking, are to sell Autodata, a European provider of technical information to the automotive aftermarket.
Autodata is being sold to Solera Holdings for GBP340 million.
Solera is a provider of risk and asset management software and services to the automotive and property marketplace. The transaction, which is subject to regulatory approval, is expected to complete in February 2017.
Established in 1975, Autodata publishes technical information on approximately 40,000 vehicle models from 136 manufacturers. ts products provide over 90,000 professional workshops
Middle market private equity firm One Equity Partners’ portfolio company, The WW Williams Company, has acquired Desert Fleet-Serv (DFS), a mobile provider of onsite maintenance and repair services for diesel trucks and trailers.
Terms of the private transaction have not been disclosed.
Headquartered in Phoenix, DFS's ASE-certified technicians provide a range of commercial vehicle maintenance and repair services, including diesel engine diagnostic, lubrication and other related services. Founded in 1995, the company has more than 200 customers in the metropolitan Phoenix area.
"DFS has been a driving force in the onsite fleet maintenance and mechanical repair service of
Dash Financial is to merge with LiquidPoint to create a new trading technology solutions provider focused on the options and equities markets.
Dash Financial is an institutional trading technology, execution and analytics provider, while LiquidPoint is a provider of options technology and routing services to the sell-side and exchange communities.
Private equity firm GTCR will be contributing LiquidPoint from portfolio company Convergex to merge it with Dash.
The combined entity will operate as Dash Financial Technologies and be majority owned by GTCR. It will have a 13 per cent market share in the US options agency execution space. The independent
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