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Boutique asset manager Unigestion has held the first close of its fourth dedicated private equity secondaries fund, Unigestion Secondaries Opportunities IV (USO IV).
The fund represents a continuation of the secondaries strategy that Unigestion has deployed since 2000.
USO IV has now received commitments in excess of EUR177 million, which is almost 60 per cent of the fund’s target size. Unigestion is seeking total commitments of EUR300 million.
USO IV seeks transactions at the smaller end of the secondary market, in which high-quality assets can be acquired at attractive valuations. It focuses on small and middle-market funds, fund
An affiliate of private equity and alternative asset investment firm HIG Capital has acquired CABLExpress Corporation d/b/a CXtec and TERACAI Corporation.
Headquartered in Syracuse, New York, CXtec is a provider of refurbished networking and telephony hardware and data centre cabling products to a diverse base of blue-chip customers.
Since its founding in 1978, CXtec and its equal2new brand of certified pre-owned equipment have established a market-leading position with deep domain expertise. CXtec’s systems and testing / certification processes ensure that IT procurement professionals are able to maintain and extend the life-cycle of existing IT infrastructure equipment by purchasing reliable
Senic, a developer of ‘smart home’ natural user interfaces, has secured a seed investment from venture capital firm Target Partners.
The company’s first product, Nuimo, is a smart home controller that enables interaction with in-home technology such as Sonos or Raumfeld multi-room speakers, Philips Hue light bulbs, and smart thermostats.
The Nuimo has received some of the top technology and design awards, including the Red Dot Design Award 2016.
While the Nuimo’s interaction model revolves around haptic and gesture input, the team is developing ways to bring optical and speech interfaces to future device generations.
The Senic
HIG Europe, the European arm of global private equity firm HIG Capital, is to sell the International School of Europe Group (ISE).
Closing of the transaction is expected in mid-September 2016. Terms have not been disclosed.
ISE, founded in 1958 by the Formiga family, is a group of schools in Italy with over 1,800 local and expatriate students between the ages of three and 18 years old in Milan, Modena, Monza and Siena. ISE is one of the leading IB schools in Europe.
Raffaele Legnani, managing director of HIG and head of HIG’s activities in Italy, says: “Paolo and
International law firm Proskauer has appointed M&A lawyer Eleanor Shanks as a partner in the firm’s London office.
Shanks’s practice focuses on private equity transactions, mergers and acquisitions, joint ventures, co-investments and other fund investments, in both domestic and cross-border transactions.
“We have made a number of strategic hires in recent months to substantially grow our global corporate platform, particularly in the private equity space. We are thrilled to have Eleanor join, which follows the recent arrival of partner Ben Davis to our finance practice and private equity real estate partners Jo Owen and Vikki McKay. We are certain
LetterOne (L1) has formed a partnership with FreedomPop, a disruptive US-based mobile provider based in California.
The announcement follows L1’s receipt of clearance from the Committee on Foreign Investment in the United States (CFIUS) to complete its USD50 million investment in FreedomPop, to assist and accelerate its international expansion.
L1 Technology, which aims to invest USD2 billion to USD3 billion in mid-to-late-stage technology growth opportunities, is investing in and looking for strategic partnerships with leading digital pioneer companies around the world. It recently announced a USD200 million investment in Uber.
FreedomPop, one of the fastest growing mobile service
KKR is making additions to its private equity investment team in Asia, including a change in leadership in China and the addition of new senior investment talent in China, Singapore and Korea.
Ming Lu, a member of KKR and co-head of Asia private equity, has been named sole head of Asia private equity.
KKR members David Liu, co-head of Asia private equity and head of China, and Julian Wolhardt are leaving KKR at the end of this year to form a new China-focused investment firm. They will transition to KKR Advisors beginning in 2017.
Lu will serve as
Foresight Group has invested GBP2.75 million in the buy-in management buyout (BIMBO) of Lancashire-based Euxton Group.
The deal is the first investment made from the Foresight Regional Investment Fund (FRIF), which was launched in December 2015 having achieved first close at GBP38 million.
The FRIF is focusing on private equity investments into SMEs based in the North West of England, North Wales, and South Yorkshire, and is managed by Foresight’s team based in its Manchester office.
The fund can make investments of between GBP1 million and GBP5 million in local growth SMEs through a variety of deal structures
Ocean Link, a private equity firm focused on the fast-growing travel and tourism sector in China, has formed a partnership with Ctrip, the largest online travel agency in China, and General Atlantic, a growth equity firm.
Founded in early 2016, Ocean Link deploys both RMB- and USD-denominated funds to invest strategically and selectively across the broad value chain and sub-verticals of the travel and tourism industry in China including hotels and resorts, attractions, online and offline travel agencies and operators, transportation services, and related business solutions providers.
The firm's initial investments include eLong, a mobile and online travel agency
Noerr has advised Isaria Wohnbau on its capital increase carried out in connection with its takeover by the US private equity investor Lone Star.
The cash raised amounted to around EUR53 million.
At the same time, Noerr assisted the Munich-based project development company in cancelling the admission of its shares to trading on the regulated market of Frankfurt Stock Exchange.
This was the first withdrawal from the stock market under the new rules on delisting which have been in force since the end of 2015.
A team led by Noerr partners Dr Laurenz Wieneke and Dr Stephan
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