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HIG Bayside Capital, the distressed debt and special situation affiliate of private equity firm HIG Capital (HIG), has closed the HIG Bayside Loan Opportunity Fund IV with aggregate capital commitments of USD1.1 billion, exceeding its USD1.0 billion target.
The fund will continue HIG’s investment strategy of focusing on investments in small-cap special situation credit opportunities in the US.
Sami Mnaymneh (pictured) and Tony Tamer, co-chief executives of HIG, say: “We are grateful for the support from our investors for this offering. The strong response to the fund reflects their confidence in the capability of our team and our differentiated
Legal & General Capital, through LGV Capital, has agreed terms to sell its majority interest in The Liberation Group to Caledonia Investments in a transaction valuing the company at GBP118 million.
Liberation is held principally on behalf of the with-profits fund for customers.
Completion is expected over the course of the summer, and Caledonia is backing the existing management team.
Legal & General Capital focuses its investments in four key sectors: UK housing, UK urban regeneration, clean energy and SME finance. These reflect its aim to invest for the long term in economically and socially useful assets, securing
Asset International, which is backed by private equity firm Genstar Capital, has closed its acquisition of Market Metrics and Matrix Solutions, data and research firms for adviser-sold investments and insurance worldwide.
The acquisition broadens Asset International’s portfolio of proprietary, actionable data, insights and business intelligence. Through this acquisition, Asset International is now the one-stop shop for data and insights supporting product innovation, manufacturing, sales and distribution for the asset management and insurance communities, as well as providing market surveillance solutions and marketing channels for this community.
The Market Metrics and Matrix Solutions acquisition expands Asset International’s deep proprietary asset
Blackstone has appointed Marc Bolland head of European portfolio operations of its private equity businesses.
Bolland was formerly chief executive of Marks and Spencer and previously chief executive of Morrisons and chief operating officer of Heineken. He will start on 19 September 2016.
Joseph Baratta, global head of private equity at Blackstone, says: We are delighted that Marc is joining us. He has had an outstanding career leading and developing major international businesses, and I am sure he will add great value to our current and future portfolio businesses.”
Bolland says: “I am very pleased to be joining
Apricus Biosciences has entered into a common stock purchase agreement with Aspire Capital Fund.
Aspire Capital will complete an initial purchase of 2,531,645 shares of common stock for proceeds of USD1.0 million and has committed to purchase up to USD6.0 million in additional shares of common stock over the next 24 months at prices based on the market price at the time of each sale.
No warrants are associated with this agreement.
"This agreement with Aspire Capital will enable Apricus to sell shares from time-to-time on market-based terms to a committed, long-time investor," says Richard Pascoe, CEO
Many alternative fund managers expect performance and investment decisions to be affected following the UK’s Brexit vote, while institutional investors expect to commit less to the UK, according to a survey carried out by Preqin.
In the wake of Britain’s vote to leave the European Union, the firm surveyed over 140 alternative assets firms and 50 institutional investors to gauge their reactions and expectations following the result.
The largest proportions of fund managers do not expect their performance or investment decisions to be impacted by Brexit, but hedge fund managers anticipate being able to benefit in the short term
Nasdaq welcomed a combined 176 new listings – including 68 initial public offerings (IPOs) – in the first half of 2016 to its US and Nordic exchanges, maintaining its position as the leading global exchange venue.
This includes DONG Energy – the largest IPO of 2016 YTD across global exchanges – and a record number of 13 company listing transfers from NYSE.
Despite a global market under pressure from a combination of economic and political uncertainty, companies from a diverse range of industries and geographies successfully launched their IPOs on Nasdaq's US and Nordic exchanges, raising USD3.8 billion and
Ninety per cent of business leaders expect Britain’s vote to leave the European Union to prompt a fall in economic growth in the short-term, according to BGF’s Growth Climate Index.
However, the survey of over 450 business leaders and entrepreneurs suggests their outlook is improving in the longer-term with 55 per cent expecting growth to fall over this period.
Respondents were also concerned about the impact of Brexit on business investment, with 76 per cent believing that it will prompt a fall in investment.
Despite this, business leaders were defiant in the face of these challenges, with 74
Chicago-based private equity firm NextGen Growth Partners (NGP) has held the first closing of its inaugural fund.
The goal of the first close is to create a solid base for the firm’s entrepreneurs-in-residence (EIR) to begin targeting industries, sourcing and acquiring companies in the lower middle market.
Founded in early 2016, NGP pins its early success on the collaboration between some of Chicago’s most distinguished investment minds. NGP’s business model is to identify and mentor top talent within Chicago’s world-class entrepreneurial community to serve as the leaders of growing lower middle market companies across the country post-acquisition.
NGP
Mid-market private equity firm Equistone Partners Europe has acquired a majority stake in Camusat Group following the exit of MBO Partenaires, a minority shareholder alongside management since 2011.
Richard Thomas, CEO of Camusat, Eric Braghini, partner, and several members of the management team will reinvest in the group as part of this transaction.
Headquartered in Dijon, France, Camusat specialises in the implementation and maintenance of telecom infrastructure networks for fixed and mobile telecommunications operators, equipment manufacturers, integrators, and ‘Towercos’. The group is organised around three main business units: design and installation of telecom towers, monitoring and maintenance services, and
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