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LSP (Life Sciences Partners), the European life sciences investment group, has held the final closing of its new life sciences fund, LSP 5. The fund surpassed its USD170 million target and reached the ‘hard cap’ of USD280 million, making LSP 5 one of the largest life sciences funds in Europe.
Commenting on the announcement, Dr René Kuijten, Managing Partner at LSP, says: “The basis of this fundraising success is reflective of our strong financial performance as well as meeting the challenges of life sciences investing. This has been recognised by not only large and loyal institutional investors, but also by
Thoma Bravo, a private equity firm with a focus on application and infrastructure software and technology enabled services, is to acquire Qlik, a specialist in visual analytics software and provider of solutions for self-service data visualization and guided analytics.
Under the terms of the all-cash transaction, which values Qlik at approximately USD3.0 billion and was unanimously approved by Qlik's board of directors, Qlik shareholders will receive USD30.50 in cash for each share of Qlik common stock they hold. This price represents a premium of 40 per cent to the Company's unaffected 10 day average stock price prior to 3 March,
Private equity firm TA Associates has completed the acquisition of Frank Russell Company’s asset management business (Russell Investments) from London Stock Exchange Group (LSEG) in a transaction valued at USD1,150 million.
Reverence Capital Partners, a financial services-focused investment firm, partnered with TA Associates and has made a significant minority investment in Russell Investments. Russell Investments’ management invested alongside TA Associates and Reverence Capital to acquire a meaningful equity stake. The transaction closed on 1 June.
Russell Investments is a global investment manager, with an 80-year heritage of delivering innovative solutions, strong investment results and high quality client service to institutional
Bedell Trust has announced the establishment of an operation in Cayman to further extend its international presence.
Bedell Trust, which has a network of offices in key locations and an acknowledged reputation in corporate, trust, fund administration, international finance, employee benefits, private wealth management and bespoke family office, will provide a comprehensive range of trust and corporate services to clients from its Cayman operation.
Grant Barbour, a Director of Bedell Trust Cayman Limited, who will head up the Cayman business, commented:
‘The Cayman Islands are one of the leading Caribbean jurisdictions for locating investment structures and is popular with many
Clear Ventures, a new Silicon Valley technology venture capital firm, has launched a new USD120 million venture capital fund.
Founded by partners Chris Rust and Rajeev Madhavan, the fund's financial backers include institutional pension funds, educational endowments, charitable foundations and iconic technology industry executives with more than USD80 billion in assets under management. Clear originally targeted an USD80 million raise then increased to USD120 million to accommodate demand.
With experience scaling companies from concept to USD1 billion-plus in annual revenue, the Clear team is dedicated to working with bold teams from the earliest stages of company creation to market leadership.
British fashion tech startup Thread, has closed a GBP4 million funding round which sees venture and growth capital investor Beringea join existing investors Balderton Capital and a number of angel investors.
This follows the previous series A round led by Balderton with a number of angel investors which was announced in August 2015.
Founded in 2012, Thread was launched with USD25,000 from renowned American accelerator programme Y Combinator. Founders and serial entrepreneurs Kieran O’Neill, Ben Phillips and Ben Kucsan noted the emerging trend of men wanting to dress well, but finding it difficult or frustrating to do so. Thread
Private equity swap executive James Gamett has formed Sweetwater Capital Partners (SWCP), which will assist institutional investors with active management of their private equity portfolios.
SWCP builds and manages direct investments, secondaries and co-investments to achieve desired outcomes. SWCP will focus predominantly in the US.
Gamett will serve as Managing Partner. Before starting SWCP, Gamett founded Madison Creek Partners, a health care services company, which he sold in Q1 2016. Previously, he was a Partner and Head of Secondaries at StepStone Group. SWCP’s investment team also includes Brooks Lindberg, Managing Director; Joseph Siletto, Managing Director; Ron Heinz, Principal; and Cameron
Romulus Capital, a seed-stage venture capital fund focused on investing and building technology businesses, has launched its third fund with over USD75 million in commitments.
Backed by investors in 15 countries, including 3 royal families, Asia's largest conglomerates, and individuals with strong ties to the Massachusetts Institute of Technology (MIT), Romulus has grown more than 200 percent in four years with USD150 million in assets under management.
Romulus is the largest independent venture capital firm in the world managed solely by partners under the age of 30 years old – in fact, Founder Krishna K. Gupta founded the company from
Innova, together with other minority shareholders, have sold their stakes in Marmite – the leading European cast marble sanitary ware manufacturer – to Cranemere Ltd in one of the biggest deals in Poland this year.
Innova purchased a controlling stake in Marmite from its founder Roger Johansson, in 2010. Under the leadership of CEO Robert Rutkowski and his team, the Company pursued its strategy of European expansion, product and material innovation and operating improvements, further extending its leadership position on the European market.
During its holding period Innova helped steer through the transition from founder to a world-class management team.
Ipes Group, a provider of outsourced services to Private Equity in Europe, has appointed Jim Faulds as Chairman.
Faulds is an experienced Non Executive Director and Chairman. He spent his executive career in advertising, founding Faulds Advertising, and growing it to become Scotland's largest advertising agency in 2002, when he exited from the business. Since then, Faulds has served as Chairman and Non Executive Director on the boards of a number of listed and private equity backed companies including Wood Mackenzie and Giles Insurance Brokers. He currently chairs Change Recruitment and Jumpstart.
Faulds succeeds Pernille Fabricius, who has been Chair
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