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Medical device specialist Atomo Diagnostics has raised AUD4.5 million in new equity funding from a number of professional investors including the New York-based Global Health Investment Fund (GHIF), as well as a company associated with former managing director and CEO of Macquarie Group, Allan Moss.
The new investment follows receipt of a USD6 million (AUD7.8 million) loan to Atomo by GHIF in January this year.
The latest investment will also see Global Health Investment Fund managing partner Dr Curt LaBelle join the Atomo board.
LaBelle says: “Our fund is pleased to provide additional support to Atomo Diagnostics through
The half-year 2016 edition of Mergermarket's Deal Drivers EMEA reveals a more cautious dealmaking environment, with European investors eyeing political and economic changes in key markets, notably the UK's decision to ultimately leave the EU.
As a result, European deal value dropped 18 per cent to EUR314.7 billion compared to the first six months of 2015.
Deal volume remained relatively stable with 3,222 deals, 2 per cent less than the same period last year, underpinned by deals in the mid-market range.
Paul Francis-Grey, deputy editor EMEA at Mergermarket says: "Global M&A fever has cooled after two frenzied years
The UK Financial Conduct Authority (FCA) has granted Peer Funding Limited full permission to operate an electronic peer-to-peer business lending platform.
Unlike many existing platforms, Peer Funding Limited has not been trading under interim permission and has been granted this authorisation after completing a full application process.
The authorisation allows Peer Funding to launch a new platform in the UK peer-to-peer business debt funding sector in the autumn of 2016 which will offer choice to both investor and borrower with a range of products on a single platform.
It will include business loans (6-60 months); secured business loans
Inflexion portfolio company Global Reach Partners (GRP), a UK foreign exchange specialist, has completed the acquisition of international money transfer and payment solutions provider FC Exchange.
GRP, which provides payments and hedging services to businesses and private individuals, transacts annually over GBP3.5 billion of foreign currency, through its team of over 100 traders and support staff based in London.
The acquisition will increase these transactions annually to over GBP5.5 billion and the combined team to 170 employees.
The acquisition of FCE allows GRP to build scale and add capabilities.
Mark Smith-Halvorsen, co-founder and chief executive officer of
BPS Technology has completed its underwritten AUD27.5 million institutional placement and will use net proceeds of the capital raising to fund the acquisition of Entertainment Publications Australia and New Zealand.
Entertainment Publications is a business-to-consumer deals platform with 12,000 SMEs, 18,000 not-for-profits and 550,000 members.
The consideration for the Entertainment Publications acquisition is AUD22.5 million in cash and 2,659,574 in BPS shares.
The vendor of Entertainment Publications, Ben Johnson, who will remain as chairman of Entertainment after completion, says: “Entertainment Publications and BPS share the same culture and values, making this a natural win for both companies. They
Global law firm Ropes & Gray has appointed Amanda Persaud as a partner in the funds practice in the firm’s 300-lawyer New York office.
Persaud’s practice focuses on the formation, fundraising and operation of private investment funds, including private equity funds, hedge funds, credit funds and other types of alternative asset funds.
She regularly provides counsel on a wide range of governance, operational and regulatory matters affecting sponsor clients. She frequently advises on significant business transactions such as purchases and sales of asset management businesses, spinouts and key person separations.
Persaud joins Ropes & Gray from Wachtell, Lipton, Rosen
Alternative asset manager Mariner Investment Group has closed a USD503 million collateralised loan obligation (CLO), the third such transaction by Mariner's leveraged credit team.
Mariner has now closed approximately USD1.5 billion in CLOs in the past two years.
"We are pleased at the continued success our team has achieved with its first three CLO's, and with our ability to capitalise on the current market environment," says David Martin, co-head of Mariner's leveraged credit team. "Our success reflects the strength and talent of our growing team, as well as ORIX's continued support of the Mariner platform."
Mariner's leveraged
Private equity investment firm KKR has launched the Eco-Innovation Award for its portfolio companies as part of the firm’s Green Solutions Platform (GSP).
The platformh aims to identify, support and highlight environmental initiatives across three areas: eco-efficiency, eco-innovation, and/or eco-solutions.
The Eco-Innovation Award is intended to reward current projects or initiatives within KKR portfolio companies that are innovative, environmentally beneficial solutions that create business value.
“Our goal with the Green Solutions Platform and now the Eco-Innovation Award is to encourage and support our companies’ eco-innovation work as we do their eco-efficiency projects,” says Elizabeth Seeger, director at KKR
John Frishkopf, head of the asset management and treasury group at New Star Financial, is to retire from the company on 30 September 2016.
Frishkopf was a founding member of the firm and has served in his current role since NewStar’s inception in 2004.
He will remain involved with the company as an external advisor to provide decision support to the management committee and to advise the risk committee of the board of directors as needed on strategic funding matters.
Frishkopf will be succeeded as treasurer by Michael Eisenstein, a managing director in the treasury group. Eisenstein joined
London is expected to retain its position as a global hub for international entrepreneurs following the results of the recent EU referendum, according to research from equity crowdfunding platform Seedrs.
Over half (52 per cent) of Seedrs customers polled agreed that London would remain a global centre for innovative new businesses, while only 16 per cent said they believed London would lose out to other international hubs and the remainder (32 per cent) said they did not know.
The sectors predicted by both investors and entrepreneurs to see the strongest opportunities for growth over the next 12 months in
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