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Bauer, the Italian high-end hotel group, and Blue Skye Investment Group, a special opportunity fund, have completed the reorganisation of Bauer’s EUR110 million debt, through a debt rescheduling and refinancing.
Bauer has employed a new four-year senior secured bond issuance, which includes an additional EUR20 million tranche aimed to finance future investments and developments by the group’s main hotel, the prestigious Bauer Hotel in Venice.
Bauer’s chief executive officer Francesca Bortolotto Possati and Blue Skye’s co-founders Salvatore Cerchione and Gianluca D’Avanzo agreed a debt rescheduling and refinancing with issue of bonds pursuant to article 67 of the Italian bankruptcy
Capita Asset Services is working with Irish fintech start-up, Fund Recs, to automate its cash and portfolio reconciliation process.
The cloud-based software will automatically reconcile broker and custodian data to Capita’s fund accounting system, InvestOne Enterprise. Clients will benefit from enhanced and user friendly reporting.
Paul Burke, senior manager fund accounting, Capita Asset Services, says: “Enhanced reporting will provide our clients with information concerning the cash and portfolio of their funds at a glance and the solution will further aid our Net Asset Value (NAV) process and deliverables. This investment not only prepares us for the reporting requirements of
WHEB Partners, the former private equity division of the WHEB Group, is now fully independent and has rebranded as Alpina Partners. In addition, the firm has held the final close of its latest private equity fund with EUR140 million in commitments.
The fund has already made investments in five companies and Alpina will continue to manage all WHEB Partners’ private equity funds.
“We are proud to announce that in addition to our existing anchor investors, the European Investment Fund, British Business Bank, Hermes GPE and investors managed by RobecoSAM, we were able to welcome prestigious new investors including Access
Rigby Private Equity (RPE) has opened a new office in Vienna, Austria. Specialist value-added distributors Wick Hill and Zycko (both part of RPE) already have business in Austria and this move shows the commitment of both distributors and RPE to strengthen and grow activities in that territory.
Paul Eccleston, head of RPE, says: “Both Wick Hill and Zycko have traded successfully into Austria from Germany in the past and have had many requests from their vendor partners to open an office in Austria itself. We see this is as a serious commitment to the territory, with significant opportunities for the
Resource Energy Partners, a new private equity-backed upstream oil and gas production company capitalised by funds affiliated with Apollo Global Management, has successfully closed its forst acquisition.
Resource Energy, which was formed to implement an acquisition and exploitation strategy principally focused on the revitalisation of existing wellbores as opposed to drilling new wells, has acquired 112 total wells, 54 operated, with 2,300 barrels of operated oil equivalent per day production in the Williston Basin and is actively pursuing opportunities to expand its footprint in the Bakken play as well as in other Rockies and Texas unconventional oil plays.
The
Silver Oak Services Partners has completed the sale of its equity interest in NDC to New York-based private equity firm Court Square Capital Partners.
Headquartered in Nashville, NDC is a leading healthcare supply chain company and distributor of consumable medical supplies. The company operates as one of the largest master distributors in healthcare, purchasing supplies directly from manufacturers and providing a broad product line to distributors who handle the last mile delivery direct to health care providers. The company serves as a vital partner delivering supply chain efficiency to manufacturers, GPOs and national, regional and local distributors. NDC has over
BlackFin Capital Partners has closed its BlackFin Financial Services Fund II with aggregate commitments from European institutional investors and family-offices in excess of EUR400 million, and has started to invest and deploy the fresh capital raised.
In August, BlackFin signed an agreement to purchase from The Royal Bank of Scotland plc its Luxembourg-domiciled independent management company and funds governance business, RBS (Luxembourg) SA (RBSL). The deal was completed on 31 December following the approval by the Luxembourg regulator (CSSF).
BlackFin has renamed the company FundRock and has the ambition to position it for the long term as the leading
Private investment firm Angeles Equity Partners has acquired, through an affiliated entity, UGN’s automotive acoustic solutions business based in Chicago Heights, Illinois.
UGN is a joint venture between Autoneum Holding AG and Nihon Tokushu Toryo (Nittoku).
The deal combines Angeles Equity Partners prior automotive sector experience with their complex carve-out expertise.
The business, which will operate under the name Applied Acoustics International (AAI), is a provider of sound barrier and noise damping products to the North American automotive industry. Financial terms of the deal were not disclosed. AAI will continue to supply noise, vibration and harshness (NVH) reduction
The Italian branch of 21 Partners has received total commitments of EUR343 million for 21 Investimenti III, surpassing the initial objective of EUR300 million and reaching the fund’s hard cap.
21 Investimenti III received strong support from existing institutional investors as well as key new relationships, both in Europe and the US. More than half of the capital was raised outside of Italy.
The Fund has already completed two investments in SIFI, an Italian leader of innovative pharmaceutical treatments, instruments and equipment for eye care and Poligof, a European leader in backsheet film for hygienic disposable products.
21
Matheson has appointed Tara Doyle (pictured) has been appointed as the new Head of the firm’s Asset Management and Investment Funds Group. She succeeds Michael Jackson, who became Managing Partner of Matheson on 1 January 2016.
Doyle has been a partner in the Asset Management and Investment Funds Group for over a decade, advising many of the world's leading financial institutions, investment banks, asset management companies and broker-dealers. Her team is the number one ranked funds law practice in Ireland, acting for 28 per cent of Irish domiciled investment funds by assets under management as at 30 June 2015. A highly regarded
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