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Seacoast Capital has held the closing of Seacoast Capital Partners IV with total commitments of USD239 million.
Limited partners include banks, private pension funds, private foundations, insurance companies, family offices and high net worth individuals.
Along with significant support from private limited partners, Seacoast received approval from the US Small Business Administration (SBA) for its fourth Small Business Investment Company (SBIC) license.
Over 85 per cent of investors from the firm’s 2012 vintage USD150 million fund, Seacoast Capital Partners III, returned to invest in Seacoast IV.
Consistent with the investment strategy of its predecessor funds, Seacoast IV
Abacus Group, a provider of hosted cloud IT solutions for alternative asset funds, has reported year-on-year growth of over 30 per cent up to the end of the third quarter of 2016.
The company’s employee count also exceeded 100 as it expanded its footprint in the Boston, Los Angeles and San Francisco markets.
“Year-over-year, Abacus has added 40 new clients, including firms in the United Kingdom and Sweden,” says CEO Chris Grandi (pictured), who founded Abacus in 2008. “We have also tripled our data centre capacity to meet the increasing demand for our services.”
Grandi adds that Abacus’s
A company backed by private equity firm Permira is to acquire Tricor, a provider of integrated business, corporate and investor services in Asia Pacific, from The Bank of East Asia (BEA) and NWS.
The total consideration amounts to HKD6,470 million (USD835 million), including at least HKD400 million (approximately USD50 million) in cash acquired as part of the transaction.
BEA and NWS Holdings hold 75.61 per cent and 24.39 per cent respectively, in Tricor, through East Asia Secretaries (BVI) Limited, which is Tricor's sole shareholder. Tricor’s management will become investors in Tricor alongside the Permira funds.
Founded in 2000,
OpenGamma, an open source financial software developer and provider of derivatives risk analytics, has raised USD13.3 million from institutional investors.
The funds will be used to address increasing demand from financial institutions for more efficient use of capital and technology resources.
By deploying a range of software-as-a-service (SaaS) solutions based on an open source library of standardised derivatives pricing and risk models, OpenGamma is offering a more cost-effective and nimble alternative to legacy, enterprise-wide platforms.
Accel and ICAP are leading the funding, with additional investment from financial technology pioneer, Cristóbal Conde. Conde joined the OpenGamma board in 2014
MTS Health Investors, a healthcare-focused private equity fund, has closed its fourth fund, MTS Health Investors IV, with USD365 million in limited partner and general partner commitments.
The fund was oversubscribed and closed at its fundraising cap.
Senior managing director Curtis S Lane says: “We are grateful for the ongoing support of our existing investors and pleased to add a distinguished group of new investors to this fund. MTS recognises the confidence our partners have placed in us and will continue to work diligently to execute our strategy.”
Fund IV will continue MTS’s focus on investing in businesses
Marlin & Associates’ client BillingTree has completed a majority recapitalisation with Parthenon Capital Partners in partnership with BillingTree's senior management team.
BillingTree is a provider of omni-channel, integrated payments solutions to the healthcare, ARM and financial services industries.
Parthenon is a growth-oriented private equity firm that partners with and invests in leading management teams and their companies.
Marlin & Associates, a boutique investment banking and strategic advisory firm, acted as exclusive strategic and financial adviser to BillingTree in the transaction.
Headquartered in Phoenix, Arizona, BillingTree was established in 2003 to meet the market's growing need for a
ClearlySo, a European impact investment bank, has completed a GBP1.1 million equity investment into Latimer Group, a youth co-creation agency, from a mix of institutional and individual investors.
Latimer is using the capital to accelerate the growth of its agency business, bring in senior hires and build out its technology platform, Bulbshare.
Latimer specialises in building communities that help drive rapid innovation for brands and partner organisations. In the last five years, the Latimer team has worked with over 50,000 young people to generate insights that lead to co-created content using unique methodology that puts consumers at the heart of
Catapult Ventures, manager of the GM&C Life Sciences Fund, has made an investment in YProTech, a high value chemistry services company based in Alderley Park, Cheshire.
The investment will enable YProTech to commission a high-potency facility at Alderley Park, to extend its range of high value services and strengthen its sales and marketing capability.
The investment builds on Catapult Ventures’ previous record of investing in contract research organisations (CRO), having backed R5 Pharmaceuticals, which was bought by Aesica, and more recently, Food and Drug Analytical Services (FDAS), which was bought by Tentamus Group in April.
Tony Flinn who
AREAM and Greentale Capital have established a joint venture that will leverage the combined experience of two teams in the renewable energy and investment management industries.
The joint venture will assist institutional investors to gain high-quality exposure to investment opportunities in the renewable energy industry.
Initially, the joint venture will provide specialised investment management and fundraising advisory services to a forthcoming investment vehicle, which will enable institutional investors to seize significant returns while simultaneously diversifying their portfolios by investing in the renewable energy industry.
AREAM has been investing in renewable energy for over 10 years, constructing, acquiring and
IFC, a member of the World Bank Group, has launched a programme that aims to raise USD5 billion from global institutional investors to modernise infrastructure in emerging markets over the next five years.
The new platform will look to open up a new stream of capital flows to improve power, water, transportation and telecommunications systems in developing countries.
The initiative, called MCPP Infrastructure, builds on IFC’s Managed Co-Lending Portfolio Program, a loan-syndications initiative that enables third-party investors to participate passively in IFC’s senior loan portfolio. In its first phase, the programme allocated USD3 billion from the People’s Bank of
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