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Metropolitan Equity Partners has invested USD20 millionin Bizfi (www.bizfi.com), a FinTech company that combines aggregation, funding and a marketplace for small businesses.
This investment represents an increase from the USD65 million financing of the company in December.
Paul Lisiak, Managing Partner of Metropolitan, says: “While the FinTech industry has experienced some recent headwinds, our confidence in both Bizfi and its place in the alternative financing industry has never been stronger. Since our original investment, Bizfi’s management has proven month after month its ability to generate profits and growth in an industry where most companies are calculating burn rate.”
Bizfi and
Riverstone Investment Group is to become a 50 per cent partner in the Utopia Pipeline Project.
To acquire its ownership interest, Riverstone agreed to an upfront cash payment provided at closing, consisting of reimbursement to Kinder Morgan Investment (KMI) for its 50 per cent share of prior capital expenditures related to the project and a payment in excess of capital expenditures to recognise the value created by KMI in developing the project to this stage.
In addition to the acquisition of the existing assets, Riverstone has agreed to fund its share of future capital expenditures necessary to complete construction and
Cavendish Corporate Finance, a UK sell-side mid-market M&A firm, has advised Tristar Worldwide, a luxury travel service operator on its acquisition by Addison Lee, Europe’s largest private hire company.
Founded in 1978, Tristar pioneered airline door-to-door luxury chauffeur services for global airline companies such as Virgin Atlantic. Today, the company is an international business, with global revenues of £50m, more than 200 staff, over 450 drivers and a reputation for being one of the most trusted names in the business. Tristar has headquarters on three different continents and a multitude of regional centres across Europe, North America and Asia.
Lightspeed China Partners (LCP) has completed the final closing of Lightspeed China Partners III with total committed capital of USD260 million USD. Fund III was oversubscribed and received strong support from existing and new limited partners.
LCP has also announced completion of a substantial closing of its first RMB fund with a target size of RMB500 million.
LCP has investment professionals located in Shanghai and Beijing. With USD and RMB dual-currency venture funds, the partnership plans to continue investing in China-based early stage companies in Internet, mobile, Internet Plus (transforming traditional industries with Internet technologies), and enterprise technology sectors.
LCP
BaltCap portfolio company Eesti Keskkonnateenused AS (EKT) has acquired Jaakson Linnahooldus OÜ, a Tallinn-based, street maintenance business.
“BaltCap is excited to support EKT Group’s further growth. Local expansion is one of our strategic goals so we are pleased to see that the current deal is a powerful step forward,” says Peeter Saks, Managing Partner at BaltCap and Chairman of the Supervisory Board at EKT.
The CEO of EKT Argo Luude adds that the transaction waiss a logical step for them: “Since our company has a lot of experience in street maintenance from other municipalities, the growth needs to continue
Gen II Fund Services, an independent private equity fund administrator, has joined The Depository Trust & Clearing Corporation (DTCC) Alternative Investment Product (AIP) Services.
AIP is a platform that links global market participants — including broker/dealers, fund managers, fund administrators and custodians, providing a single standard, efficient end-to-end process for alternative investments including private equity, hedge funds, funds of funds, non-traded real estate investment trusts (REITs), managed futures and limited partnerships.
Gen II's membership in the AIP services enables the Firm to seamlessly and efficiently service our private fund sponsor clients that maintain investor relationships with Registered Investment Advisors.
"Joining
Forum Equity Partners has appointed Colin Yee as the compan’s bew Chief Financial Officer (CFO).
As a founding partner of Dundee 360 Real Estate Corporation (formerly 360 VOX Inc), Yee has over 15 years of finance experience including managing assets with a total value of over USD4 billion and comprehensive transaction and operating knowledge in the luxury resort and mixed-use real estate markets.
“We are delighted to welcome Colin to the Forum team. He has worked on a number of large projects, including over USD1.5 billion in real estate transactions, and structured over USD500 million in financings. We look forward
Private equity firm Warburg Pincus has appointed Mark Begor as a Managing Director in the Industrial and Business Services group.
In this role, Begor will work with the firm's portfolio companies to accelerate growth and enhance operations, as well as help to identify and evaluate investment opportunities.
Begor joins Warburg Pincus from General Electric ("GE"), where he spent the past 35 years, most recently as a Senior Vice President as well as President and Chief Executive Officer of GE's USD8 billion Energy Management business. His roles during his tenure at GE, which spanned the industrial side of the business as
The French government has given its support to an investment of up to EUR250 million in glassware manufacturer Arc by a consortium of investors led by he Russian Direct Investment Fund (RDIF) and CDC International Capital (CDC IC).
The deal terms envisage that RDIF and CDC IC will invest in the project on a parity basis. The proceeds will be used by Arc to implement its global investment program to accelerate its growth, including the modernisation of its facilities in France, expansion of its existing production facilities in Russia and construction of a new state-of-the-art glassware plant in Kaliningrad.
Fried Frank acted as counsel to Onex Partners in its acquisition of a majority interest in WireCo Worldgroup (Cayman) Inc, one of the world's largest manufacturers of steel and synthetic rope.
Paine & Partners and affiliates, who acquired WireCo in 2007, will maintain a significant minority stake.
Through the transaction, WireCo will refinance its capital structure and extend its debt maturities, substantially reducing leverage and annual interest expense. Upon closing, the Company expects to reduce its debt from approximately USD840 million as of 31 March, 2016 to approximately USD600 million, subject to closing timing. Annual interest expense is
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