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Cvent, a cloud-based enterprise event management company, has been acquired by private equity firm Vista Equity Partners.
The USD1.65 billion transaction, originally announced on 18 April 2016, was completed on 29 November.
Cvent’s shareholders approved the agreement on 12 July 2016.
Following the transaction, Reggie Aggarwal will remain the chief executive officer and president of Cvent. Cvent will continue to operate as Cvent, Inc.
“We see tremendous value in the cloud-based solutions that Cvent delivers to its customers in this largely untapped meetings and events industry,” says Brian Sheth, co-founder and president of Vista. “We are thrilled
Gide has advised Crédit Agricole Corporate and Investment Bank (Crédit Agricole CIB) on the acquisition of RBS Asia, a subsidiary of Royal Bank of Scotland, which consists primarily of the Korean Securities franchise.
With the completion of the transaction of this securities franchise in Korea, Crédit Agricole CIB says it is well-positioned to better serve its clients and to capture growing business opportunities, notably regarding debt issuances and fixed income investment products.
Gide’s team was led by Guillaume Rougier-Brierre (partner) and Amine Assouad.
Diversified alternative investment managers (IMs) appear to be taking a cautious approach to the transaction structures of new business originations, as elevated valuation multiples led to a decline in buyouts in 2016, according to Fitch Ratings.
Private-equity backed buyout deals dropped 16.2 per cent in the first three quarters of 2016, according to Preqin, compared to the comparable period a year ago.
But average debt multiples on executed buyout deals have been trending down, amounting to 4.7x in 3Q16, compared with 5.0x a year ago and 5.8x in 2Q14, according to PitchBook data.
Additionally, the median percentage of
Mid-market executives are more confident about future growth and are actively pursuing multi-faceted growth strategies in the coming year, according to Jeff Kilrea, group head and managing director, CIT Sponsor Finance.
“Middle market executives indicated they expect to see a lot of geographic expansion in 2017,” says Kilrea. “Alternatively, we anticipate that we will see these companies look at other ways to deploy capital, i.e. via new technologies and digital strategies, as well as new product line extensions. Businesses are also forecasting greater investments in marketing/advertising and the workforce.”
Results from the annual CIT Voice of the Middle Market
Abacus Group, a provider of hosted cloud IT solutions for alternative investment funds, has added security and communications enhancements to its AbacusFlex Private Cloud platform.
“As our client base of alternative investment firms continues to grow in the US, UK and Europe, Abacus is ensuring that our technology and services meet or exceed the highest standards for security and ease of communications,” says Viktor Tadijanovic (pictured), chief technology officer at Abacus.
Tadijanovic says that in recent months AbacusFlex has been enhanced with enhancements to the existing two-factor authentication solution, providing end-users with the option to receive their token via
Monroe Capital has acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support private equity sponsor Tower Arch Capital’s recapitalisation of Corbett Technology Solutions (CTSI) in partnership with its management team.
Headquartered in Chantilly, Virginia, CTSI is an integrator of high-impact communications solutions throughout the Mid-Atlantic region.
CTSI designs, installs, and maintains complex audio-visual, sound, safety, healthcare, and education communications technology solutions for clients across multiple end-markets, including corporate, government, healthcare, education, senior living, multi-family residential, and houses of worship.
KKR is to acquire Arle Capital Partners’ stake in Hilding Anders, subject to regulatory clearances.
Following the transaction, KKR will become the majority shareholder in Hilding Anders.
No financial have been disclosed and the transaction is subject to the customary regulatory approvals.
Founded in 1939, Hilding Anders is a bed manufacturer in Europe, Russia and Asia. The company has 9,500 employees at 23 sites across 19 countries, and sells products in 65 local markets, generating revenues of EUR917 million in 2015. KKR first supported Hilding Anders in 2013, when KKR Credit invested EUR350 million in the capital structure
Centaur’s newly-launched enhanced private equity service has won a major contract with a USD20 billion multi-strategy, multi-jurisdictional US headquartered private equity group.
The win came about after a detailed Request for Proposal (RFP) process, highlighting three principal requirements: service consistency that the client was not receiving from their previous administrators, stability within the service teams and administrator independence.
Centaur was selected as a result of its service, better contractual terms, independence and experience.
Eric Bertrand, founding partner of Centaur Fund Services, says: “We are delighted with this major private equity client win. With multiple fund structures across multiple
Meaningful conversations create value. With the proliferation of information sharing and communications platforms, ranging from Vine and Instagram to Snapchat, Dropbox, Pinterest and, of course, Twitter, individuals and businesses (think fashion houses, advertising agencies, media organisations) have many ways to connect and interact across the globe.
As the Internet of Things continues to evolve, more and more people are using mobile devices. There are nine billion connected devices today. That number is expected to rise to 30 billion by 2022. When Twitter burst on to the scene 10 years ago, it ushered in a unique way to communicate in short
Future French Champions – a partnership between CDC International Capital and Qatar Investment Authority – has made its fifth investment in Devialet, a Paris-based audio products start-up.
Founded in 2007, Devialet holds over 100 patents and employs 230 people.
Its products are stocked by high-end retailers including Colette, Harrods and Kadewe.
Devialet’s connected speaker Phantom has also been marketed at Apple Stores since December 2015.
In a joint statement, CDC IC and QIA say: “With this fifth investment, our partnership Future French Champions led by Marc Auberger, has demonstrated its success. We are proud to support Devialet, an
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