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Private equity firm Inflexion’s portfolio company, CableCom Networking, has acquired fast-growing utilities business Glide. The acquisition has the potential to revolutionise the student and shared housing market by giving landlords and tenants a simpler, faster way to connect, communicate and manage bills.
The deal will boost CableCom’s growth, by widening its service offering and footprint in the UK’s house share market. Together the businesses will service more than 300,000 student homes. Glide, which offers one monthly bill for all utilities split equally among house sharers, will now be able to use CableCom’s broadband network and infrastructure, enabling landlords to monitor
Industry Ventures has held the closing of Industry Ventures Secondary VIII, a USD500 million secondary fund focused on providing exit alternatives for venture capital investments.
Additionally, the firm closed a USD200 million Special Opportunities Fund that enables the firm to invest in larger transactions in parallel to the main fund.
As the largest dedicated liquidity provider for private shares in leading companies and limited partnership interests in venture funds, the firm now has a total of USD2.7 billion of capital under management and solidifies the firm as the leader in the secondary market for providing comprehensive exit alternatives to employees,
Brookfield Asset Management has completed the spin-off of Brookfield Business Partners, the primary public vehicle through which Brookfield will own and operate the business services and industrial operations of its private equity group on a global basis.
"The spin-off of Brookfield Business Partners completes the fourth pillar of our strategy to consolidate Brookfield's major business units and furthers our asset management strategy, providing investors with direct access to many businesses within our private equity group," says Bruce Flatt, CEO of Brookfield.
The spin-off was effected by way of a special dividend of units of BBU to holders of Brookfield's Class
VCT provider Octopus has announced a successful exit for investors in its GBP300 million Octopus Titan VCT (Titan VCT) as Twitter acquired portfolio company Magic Pony Technology, a technology company which has pioneered new machine learning techniques for visual processing.
Stuart Lewis, VCT Business Line Manager at Octopus, says: “There’s been a real shift in the way VCTs are now viewed by financial advisers and investors. Further restrictions on the amount investors can put into their pensions are propelling VCTs into the mainstream as a tax efficient investment option to consider when planning for retirement. There is a real need
The UCL Technology Fund (UCLTF) is making an investment of up to GBP1 million in biopharmaceutical company, Freeline Therapeutics (Freeline).
Freeline is developing and commercialising gene therapies for bleeding and other life threatening or debilitating disorders. The therapies, which are from one single treatment, have the potential to provide long-term benefits to patients by carrying a therapeutic gene to a target cell in the body.
Freeline was founded in December 2015 by Syncona LLP (‘Syncona’) and UCL Business, the wholly-owned technology transfer company of UCL.
This is UCLTF’s third investment since inception and has been made alongside Syncona’s GBP25 million
Foreign investment rules should be relaxed to encourage a new wave of offshore funding and quarterly R&D tax credits introduced to help innovative, cash-poor firms as part of a bold blueprint to develop a high-tech Australian economy.
On the eve of the 2016 federal election, AVCAL, Australia’s peak body for private equity and venture capital has called for a fast-tracked ‘limited partnership’ vehicle to encourage foreign investment into high-growth businesses.
“Foreign investment has always played an important role in fuelling the Australian economy. Our current framework does not have the right balance between welcoming overseas capital, and ensuring Australia’s
transcosmos is to make an additional investment in UNQ (Shanghai) Co, a China-based e-commerce distributor.
transcosmos is the second largest shareholder in the company after Wang Yong, President & Founder of UNQ. With this additional investment, transcosmos’s ownership ratio in the company increases from 26.3 per cent to 39.9 per cent.
As an e-commerce distributor mainly for Japanese brands such as SHISEIDO, KOSE, SUNSTAR, unicharm and Calbee, UNQ operates wholesales and sales promotional activities for Chinese major online retailers including JUMEI, The Store and JD.com, with official sales representative rights. The company also operates business-to-consumer sales through opening UNQ brand
Quilvest Private Equity sold its cornerstone shareholding in Acrotec Group to funds advised by Castik Capital alongside the Management team.
The acquisition, with an enterprise value of circa CHF280 million (EUR255 million), is the culmination of a common intiative by Management and Quilvest Private Equity to find a suitable long-term partner for the Group. The deal secures the Group’s independence and builds the foundations for further strong growth.
Acrotec has become one of the largest independent suppliers of critical components for the Swiss luxury watch market, producing precision parts such as shock absorbers, oscillating weights and spring barrels.
International resource and emerging markets focused advisory firm Hannam & Partners has promoted two new partners – Ingo Hofmaier to Head of Mining and Andrew Chubb to Head of Corporate Finance.
Both Hofmaier and Chubb were previously directors at Hannam & Partners. Their new titles, Head of Mining and Head of Corporate Finance respectively, represent their new positions as partners in the firm. The pair are joining forces with current partners: Ian Hannam, Neil Passmore, Timothy Hoare, Giles Fitzpatrick, and Rupert Fane.
Hofmaier has 16 years of experience in corporate finance, corporate M&A and general management in Europe, Africa and
eQ Asset Management held a record final closing of 160 million euros for the Northern Europe focused eQ PE VIII North Fund. In a very fast fund raising cycle, the fund held first closing in February 2016.
eQ PE VIII North is a private equity fund of funds investing equity capital in Northern European small and midcap unlisted companies. The portfolio will consist of approximately ten funds, including primary and secondary transactions, with 100-150 underlying companies diversified into various geographical areas, industries and development stages. All underlying companies are mature businesses with typically positive cash flow and profit.
“We
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