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BlackRock has completed the final close of its third direct co-investment private equity fund – BlackRock Private Opportunities Fund III (POF III) – with over USD630 million in total commitments.
Investors include public and private pension funds, insurers and foundations in North America and Europe.
The fund close comes at a time when investors are increasingly embracing alternative investments, such as private equity. Russell Steenberg, Managing Director and Global Head of BlackRock Private Equity Partners says: “We are pleased with such strong interest from a broad range of institutional clients in multiple geographies.”
POF III is a global direct co-investment
Accordion Partners has launched a financial Accounting & Advisory Services (FAAS) practice, providing operational accounting, performance improvement and technical accounting support.
Accordion, a strategic and operational finance consulting firm, has created the FAAS group to complement its existing Strategic Finance practice in offering deep financial, technical and operational expertise to private equity portfolio companies and middle-market companies within the Office of the CFO.
Accordion has hired Rich Medor to head the new practice group, serving as Managing Director, Head of Financial Accounting & Advisory Services. Prior to joining Accordion, Medor spent five years as an Operational Executive at Viacom
An AIM listing is the planned exit strategy for less than a quarter (23 per cent) of UK technology entrepreneurs, according to new research from law firm Nabarro. This is despite the strong demand from AIM investors for opportunities to invest in the tech sector.
Technology sector stocks made up an average 31 per cent of the portfolios of the investors interviewed by Nabarro, with 88 per cent planning to increase (53 per cent) or maintain (35 per cent) their exposure to AIM tech stocks in the next five years.
The performance of tech companies on the AIM market
Dallas-based buyout firm LongWater Opportunities has closed on its second equity fund, LWO Fund II, LP, a vehicle focused on control investments in lower middle market US based manufacturing companies.
LongWater completed its fundraising process in just under nine months and was oversubscribed on its USD50 million target.
“We are excited to see investors validating our strategy and believe that reshoring will continue to proliferate in the U.S. American workers are the most productive in the world and we are passionate about leveraging American ingenuity to build great American businesses,” says Jordan Bastable, LongWater partner.
LongWater has been
TIGER 21, a peer-to-peer learning network for high-net-worth investors, reports that investment in private equity continues its upward trend, increasing by one per cent to 23 per cent in the first quarter of 2016, the highest rate ever recorded for the group.
TIGER 21 now has more than 400 Members who manage in excess of USD40 billion in personal investible assets. Members' traditional "risk equity" allocation is now 70 per cent when private equity is added to public equity and real estate allocations, and an even higher 78 per cent when allocations to hedge funds are added in.
"While some
Following the biggest dollar year ever for mergers and acquisition (M&A) transactions in 2015, an overwhelming 87 per cent of executives at US corporations and private equity firms predict their organisations' deal volume will continue, or even increase in 2016.
That’s according to the findings of the third annual "Deloitte M&A Trends Report, which reveals that this positive market sentiment is despite the 40 per cent drop in US deal volume in the first quarter of 2016, compared to the first quarter of 2015.
That lacklustre start to the year, however, likely helped identify ongoing areas of concern for survey
PNC Riverarch Capital has recapitalised Feeders Supply Company, a specialty retailer of pet food and supplies headquartered in Louisville, Kentucky.
The transaction also included a significant re-investment by President and CEO Pam Longwell, who will continue to lead the business.
Founded in 1959, Feeders Supply currently operates 16 retail locations primarily in the Louisville metropolitan area. The company is focused on providing “everything you need for all the pets you feed” and offers a broad selection of premium pet food brands and products.
“The company’s customer service orientation and strong ties to the local community have created a well-respected brand
Eurazeo has acquired a minority stake through Eurazeo Croissance in Farfetch, an online marketplace for luxury goods and beauty products.
Founded in 2008 by José Neves, Farfetch is an online shopping platform connecting brands and multi-brand boutiques with customers in nearly 190 countries. The website, available in nine languages, showcases more than 100,000 items and over 1,000 brands, including some of the most prestigious in the market, and brings together over 400 independent boutiques. In March 2015, the platform was also directly opened to 75 luxury brands. Farfetch is headquartered in London and also has offices in New York, Los
Dunedin-backed CET, which supplies specialist outsourced services to the construction and insurance sectors, has acquired Doncaster based materials testing company, Construction Testing Solutions (CTS), in a transaction valued at GBP3 million.
This acquisition further cements CET’s position as a leading UKAS accredited testing and outsourcing powerhouse in the UK.
The acquisition, funded by the company’s own cashflow, will enable CET to expand its geographical reach across the UK. With testing centres also located in the Midlands, Scotland and the South, it can now provide clients from the construction sector, such as Aggregate Industries and VolkerWessels UK, with a
Sofology, the multichannel sofa retailer, has secured a GBP10m growth capital investment from BGF (Business Growth Fund).
The Manchester headquartered business, known for its Neal the Sloth mascot and advertising campaign on Channel 4's Gogglebox, will use the funding to accelerate its expansion plans in the UK.
Sofology has 33 retail outlets across the UK and has opened four new stores in Preston, Enfield, Dundee and Cannock in the past 12 months. Under the leadership of chief executive Jason Tyldesley, the company generated sales of GBP143 million in 2015, up from GBP102 million in the previous year.
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