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Golden Gate Capital has completed its acquisition of Pacific Sunwear of California and all of its subsidiaries (PacSun).
PacSun has restructured and reduced its long-term debt and annual occupancy costs, as well as improved its capital structure.
Golden Gate Capital has converted more than 65 per cent of its term loan debt into the equity of the reorganised company and has provided a minimum of USD20 million in additional capital to the reorganised company to support PacSun’s long-term growth objectives.
Wells Fargo has also provided a five-year USD100 million revolving line of credit, subject to certain conditions.
Nuxeo, developer of an Enterprise Content Management (ECM) platform which enables organisations to manage complex digital content at massive scale, has secured a USD20 million investment from Goldman Sachs.
This adds to the USD10 million commitment by Kennet Partners, announced in June.
Some of the investment will be used to fuel the continued development of Nuxeo’s content and digital asset management platform and expand sales and marketing capacity throughout North America, Europe and Asia.
“Today’s enterprises face increasing content and digital asset management challenges, especially when it comes to the increasing complexity, volume and diversity of digital content
Adams Street Partners has expanded its private credit team, building on the launch of the strategy by former Oaktree Capital executives Bill Sacher and Shahab Rashid in January 2016.
Frederick Chung, formerly a vice president at Goldman Sachs, has been appointed as a principal. Chung will be responsible for all aspects of the investment decision-making process, including sourcing, structuring, and reviewing deal opportunities, as well as participating in deal term negotiations.
Thomas Petty, formerly an associate at Morgan Stanley, has joined as a senior associate.
Michael Allen and Emily Shiau, previously analysts at JP Morgan Chase and Alvarez
ZENEDGE, a provider of cloud-based, artificial intelligence-driven Web Application Firewall and Distributed Denial of Service (DDoS) cybersecurity Infrastructure-as-a-Service provider, has completed a Series C investment led by growth equity investor Pilot Growth Equity.
Pilot Growth has led the round with a USD5 million investment, with additional funds coming from Zoho Corporation, as well as from existing investors TELUS Ventures and Yehuda Neuberger.
The financing will be used to fund ZENEDGE’s continued global expansion, sales and marketing activities and for further investment in its patent-pending technology.
William Lee, co-founder and managing director at Pilot Growth, will join ZENEDGE’s board
Stuart Bedford has joined LeapFrog Investments as general counsel, leaving his role at law firm Linklaters, where he was head of the London corporate division and the private equity group.
Bedford has led over USD40 billion of transactions across Asia, Africa, Latin America and Europe – including major M&As, IPOs and placings.
Dr Andrew Kuper, CEO and founder of LeapFrog, says: “Stuart is a star performer and exceptional leader in his field globally, bringing deep pattern recognition and multi-market capabilities. His distinctive expertise further strengthens LeapFrog’s governance, risk management and transaction capabilities.”
Bedford joins as a partner and
Octiv, a provider of sales productivity solutions, has secured an investment from GE Ventures, the venture capital arm of General Electric.
The investment, part of a round totalling USD4.75 million with participation from Greycroft Partners, High Alpha Capital and Allos Partners, will enable Octiv to expand its product capabilities, strengthen its engineering team, and refine its go-to-market strategy.
The Octiv sales productivity platform helps progressive sales and marketing teams improve how sales documents and assets are created, distributed and tracked.
Octiv leverages data from systems such as CRM, CPQ and ERP to automate document workflows. This enables users
Fund administration and middle office provider Apex Fund Services’ Luxembourg operation will be the first administration office in the group to use the Riva Transfer Agent (Riva TA) software solution.
The deployment of the Riva TA application at Apex Luxembourg will compliment Apex’s “Global Reach, Local Presence” service strategy by providing access to a rapid time-to-market administrative solution perfectly designed for the Luxembourg and European cross-border fund markets.
Apex says that both new and existing clients will benefit from the change.
“We are delighted to announce that Riva’s award winning Riva Transfer Agent application will be deployed at
Aberdeen Asset Management is further developing its alternatives business with the promotion of John Dickie to co-head of US private equity, alongside Scott Reed, and the appointment of Whit Matthews.
Matthews joins Aberdeen’s US private equity team as senior investment manager, strengthening the private equity investment capabilities of the firm’s global alternatives division, which has grown to USD32 billion of assets under management.
Over the past year Aberdeen has integrated its private capital teams to form a group that covers all of the world’s leading financial centres spanning the US, Europe and Asia.
The 50 person-strong private equity team
Although alternative assets remain a crucial component of many portfolios, investors are finding it harder to identify attractive investment opportunities compared to a year ago, according to Preqin’s survey of over 490 institutional investors.
With a record-high 2,798 private capital funds in market, and 13,725 hedge funds open for investment, choosing the right fund is challenging; 57 per cent and 54 per cent of real estate and infrastructure investors respectively are finding it harder to find attractive opportunities.
At the same time, among private equity and hedge fund investors 47 per cent and 46 per cent respectively stated the
The ability to create value at the portfolio company level is a critical driver of private equity funds’ outperformance of public equity markets, according to research by Private Equity at LBS (London Business School), supported by private equity investor Adveq.
In one of the largest studies of its kind, Value Creation in Buyout Deals: European Evidence, London Business School authors Aleksander Aleszczyk, Emmanuel De George, Aytekin Ertan and Florin Vasvari examined a sample of 1,552 European private equity-initiated deals, executed between 1998 and 2014, in an effort to better understand how equity value is created at the portfolio company level.
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