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Advent International has completed fundraising for Advent International GPE VIII Limited Partnership (GPE VIII), reaching its hard cap of USD13 billion (EUR12 billion) after six months in the market.
Advent’s previous global fund, GPE VII, closed on USD10.8 billion (EUR8.5 billion) in 2012.
GPE (Global Private Equity) VIII will pursue the same strategy as its predecessor funds, investing in buyouts, recapitalisations and growth equity transactions, primarily in Europe and North America and selectively in other regions such as Asia and Latin America. The Fund will focus on five industry sectors in which Advent has significant experience and knowledge: business
Growth-focused private equity firm Tritium Partners has formed a new acquisition platform with Max Narro, which will focus on acquiring companies and products in the financial technology sector.
Narro joins Tritium as a CEO Partner in the Tritium CEO Partners program where he will work closely with the firm to establish investment themes, execute acquisitions of growth companies, and serve as a Director and CEO of the new platform company. Tritium’s principals established this program over a decade ago in order to invest alongside top-notch executive talent through buy-and-build strategies.
A 30-year veteran of the financial industry, Narro most recently
Private equity investor Spring Ventures has backed the MBO of Home from Hospital Limited, trading as HFH Healthcare (HFH), providing GBP10.6m of equity in return for a majority stake, in addition to underwriting the acquisition debt requirement.
Healthcare is one of four key sectors Spring Ventures focuses on. The UK market for high acuity home care is growing rapidly due to medical advances and increasing patient choice. It has recently seen high levels of acquisitive activity from private equity investors and trade buyers.
HFH was founded in 2011 to provide long-term homecare for individuals with highly complex medical needs
The allocation of risk in the design of contracts for mergers and acquisitions continues to favour sellers in Europe, and the selling side is in a much stronger negotiating position. That’s the conclusion of the eighth CMS European M&A Study.
Last year, sellers were more often able to incorporate lower liability caps and shorter warranty periods into agreements, in addition to negotiating other advantageous risk allocation arrangements.
"The ongoing terrorist threat, interest rate rises in the US, the growth slowdown in China and the refugee crisis made uncertainty a defining feature of 2015. It is all the more impressive that
Barclays has formed a partnership with the UK Business Angels Association (UKBAA), to support its Birmingham Eagle Labs Incubator.
The partnership will see the bank and UKBAA- the trade body for angel and early stage investing- pioneer new Angel Hubs, by including local angel investors in Barclays’ new network of entrepreneurial spaces. The intention is that through the collaboration, entrepreneurs will have access to a range of experts for mentorship and guidance around topics such as funding, as well as access to physical space in which to develop their business ideas and to grow.
Richard Heggie, Head of High
The total value of funds business in Guernsey grew by GBP2.7 billion (1.2 per cent) during the fourth quarter of 2015.
Figures from the Guernsey Financial Services Commission (GFSC) show that, at the end of December 2015, the net asset value of all funds under management and administration in the Island stood at GBP227.6 billion – an increase of GBP8.2 billion (3.7 per cent) on the same point in 2014.
Guernsey closed-ended funds increased by GBP2.2 billion (1.6 per cent) to GBP140.6 billion during the fourth quarter, while Guernsey open-ended funds decreased in value by GBP0.7 billion (-1 per cent)
Cowen Group is to acquire CRT Capital Group’s credit products, credit research, special situations and emerging markets units. The acquired business will be named Cowen Credit Research and Trading and will focus on distressed debt, special situations and emerging markets.
CRT will use the proceeds from the transaction to invest further in its Equities, Banking and Rates businesses.
CRT’s Credit Products unit encompasses the sales and trading of distressed convertibles, high yield securities, distressed debt, private placements and trade claims. The Credit Research unit is focused on distressed and special situations coverage and cross-capital structure. The Special Situations group includes
Intelligent Partnership is teaming up with the UK Business Angels Association (UKBAA) to launch the Angel Investing Accreditation – the new official qualification to promote effective investments in Britain’s small businesses.
With the numbers of angels in the UK set to grow, it's vital that new angels can access the education and resources they need to invest with confidence. Without the appropriate skills and knowledge, enthusiastic but inexperienced investors may run the risk of losing their money. For these reasons, Intelligent Partnership and the UKBAA are launching an e-learning angel investing qualification.
Intelligent Partnership is the UK’s leading provider
ClubReady, a business management software provider for the fitness and wellness industry, has closed a Series A investment from Level Equity.
Ben Levin, Founder and Partner of Level Equity, will join the company’s board of directors. ClubReady, already profitable, will use the funds to further accelerate its rapid growth by advancing development of its product platform, introducing new services, and continuing its international expansion.
ClubReady was built from the ground up as a web-based, core business system for successful fitness club operators to manage all aspects of their business. The intuitive, easy-to-use software features club management, payment processing, and CRM
CI Capital Partners has acquired a majority interest in Hero Digital, a digital consulting firm based in San Francisco. Terms of the transaction have not been disclosed. Hero’s management retains a significant equity stake in the company.
CI Capital Partners, a New York-based private equity firm, has acquired a majority interest in Hero, a digital consulting firm based in San Francisco. Terms of the transaction have not been disclosed, but
Hero’s management has retained a significant equity stake.
Hero provides strategy, experience design and engineering services to help marketers for leading brands improve the customer experience and drive business performance.
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