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Kohlberg & Company, a private equity firm specialising in middle market investing, has held the final closing of its eighth private equity fund, Kohlberg Investors VIII, with USD2.2 billion in total commitments.
The fund was oversubscribed and closed at its hard cap due to strong support from existing limited partners, coupled with commitments from new institutional investors.
“We are deeply gratified by the tremendous support from our existing limited partner base and pleased to welcome several new, distinguished limited partners to Fund VIII,” says Sam Frieder, managing partner at Kohlberg. “Our success in raising the fund is continued validation
The Cyprus Investment Funds Association (CIFA), a representative industry body of over 230 members based in Cyprus, has become an associate member of the International Capital Markets Association (ICMA).
ICMA, the association for the global sell-side and buy-side industry, will support the development of Cyprus’ position as an emerging European funds jurisdiction.
CIFA’s affiliation with the ICMA follows its upgrade to full member status of the National Association of the European Fund and Asset Management Association (EFAMA), granted in June 2016.
CIFA’s accession to the ICMA follows a number of recent measures that have enhanced the legislative and
Peer-to-peer lending platform TWINO and KPMG have published a report entitled ‘Alternative lending market trends in Continental Europe in 2016’, revealing the findings of research into the state of the alternative finance market across the continent.
According to the authors, the report shows that the UK still leads the way in alternative finance, with four times higher volumes in aggregate than the rest of Continental Europe. Despite this, the key geographical market for European alternative online lending platforms is still Continental Europe, where lenders are increasingly taking up niches in both the subprime and prime unsecured lending segments.
The research
Perhaps it is apt that Protégé Partners, LLC is located above the world-renowned Museum of Modern Art in New York given that its modus operandi is to find the best and most creative talents in the hedge fund industry.
Some seed investors look for portfolio managers with proven skills in investing, not running businesses or dealing with clients.
"We want them to do all three. We want them to be great portfolio managers/analysts, great at running a business, great at dealing with clients: we want the whole package. We are looking for Renaissance men and women who are multi-talented," says Jeffrey
Caledonia Investments has agreed terms for the sale of Park Holidays UK, the UK's third largest holiday park operator, to Tiger Bidco, a special purpose vehicle incorporated by Intermediate Capital Group (ICG), for a headline enterprise value of GBP362 million.
Caledonia will receive GBP197 million in cash, net of fees, for the sale of its 81.5 per cent fully diluted equity stake. The net proceeds will be held on deposit for future investment.
The net proceeds represent a premium of 47 per cent to Caledonia's carrying value of Park Holidays at 30 September 2016 of GBP134 million and are
Investment funds affiliated with Lightyear Capital, a New York-based private equity firm focused on financial services investing, are to sell RidgeWorth Holdings, the holding company for multi-boutique asset manager RidgeWorth Capital Management, to Virtus Investment Partners for USD472 million.
The transaction is not subject to financing and is subject to customary closing conditions.
Investment funds affiliated with Lightyear purchased RidgeWorth from SunTrust Banks in May 2014. RidgeWorth is an investment management firm that offers investors access to a select group of investment managers and sub-advisers. As of 30 September 2016, it had approximately USD40.2 billion in assets under management.
Middle market investment bank Harris Williams & Co has advised The Leisure Pass Group in its sale to Exponent Private Equity.
Leisure Pass is a city attraction pass provider with operations in 19 major international cities across Europe and North America.
Harris Williams & Co served as the exclusive financial adviser to Leisure Pass, a portfolio company of Primary Capital. The transaction was led by Thierry Monjauze, Will Bain and Sylvain Noblet of Harris Williams’ London office, with the support of Michael Wilkins of the firm’s San Francisco office.
“Since its inception, Leisure Pass has revolutionised the sightseeing
Keensight Capital has agreed to sell its stake in Sogelink, a provider of vertical software dedicated to the construction and civil engineering market, to Naxicap.
Founded in 2000, Sogelink designs, develops and markets software, SaaS (Software as a Service) and mobile solutions intended to simplify and optimise complex processes tailored to the needs of the construction, infrastructure and property management ecosystem.
With its DICT.fr dematerialisation platform, Sogelink has a 70 per cent market share, in the field of solutions designed to simplify the regulatory requirements associated with construction projects near infrastructure networks.
Since investing in the company in
The slowdown in deal activity ahead of the EU Referendum in June continued after the surprise outcome, with year-on-year activity down 38 per cent from EUR89.7 billion in 2015 to EUR55.7 billion in 2016, according to the Centre for Management Buyout Research (CMBOR).
The latest data from CMBOR, which is sponsored by Equistone Partners Europe Limited and Investec Specialist Bank, reveals that the fall was more marked in the UK, where activity plummeted from EUR28.7 billion last year to EUR12.5 billion this year, the lowest level of buyout activity since 2009.
For the whole of Europe the drop was
SS&C Technologies, a provider of financial services software and software-enabled services, has acquired Conifer Financial Services, an independent asset services firm, for an aggregate purchase price of USD88.5 million.
Senior management of Conifer will continue to lead the business.
Conifer has 200 clients worldwide representing USD110 billion of combined assets under administration (AUA). Headquartered in San Francisco and with offices in New York, Singapore and Nova Scotia, Conifer services pensions, endowments, foundations, family offices, RIAs, traditional asset managers, private equity and hedge funds.
The acquisition strengthens SS&C's market position on the West Coast and provides a wider array
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