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Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has reported rapid growth throughout 2015, including the expansion of its US market footprint into key geographies, and new strategic partnerships.
Continued demand for Abacus’s managed cloud service offerings has produced in excess of 50 per cent annual year-over-year growth, leading the company to expand its presence into several key geographies including Los Angeles, Dallas, and Charlotte, and most recently Boston. These new locations are dedicated to improving and providing support for Abacus’s private cloud products and services that hedge fund and private equity firms,
The 2016 Private Equity & Venture Capital Compensation Report shows that slower industry activity is reflecting in private equity and venture capital pay.
Although 65 per cent of professionals reported an increase in expected salaries and bonuses, the growth in cash compensation has slowed. This year's average compensation for private equity and venture capital professionals was USD272,000 USD, a slight decrease from last year.
This marks the second consecutive year of diminished correlation between bonus pay and firm performance. Respondents working in firms that were down 10 per cent or more, report anticipated bonuses averaging USD43,000 USD. This disconnect
Pamplona Capital Management (Pamplona) has named J Joel Hackney, Jr (pictured) as Chief Executive Officer (CEO) for the new company to be formed by the combination of MedAssets’ Revenue Cycle Management (RCM) with Precyse, a Pamplona-owned health information management (HIM) services, technology, and education company.
Hackney will assume his role following the completion of Pamplona’s acquisition of MedAssets, expected in late January. Hackney’s executive leadership team, also being announced, includes current key leaders from MedAssets and Precyse, providing continuity and legacy expertise as the businesses merge and expand offerings.
The acquisition of MedAssets (NASDAQ: MDAS), a leading healthcare performance
Neuberger Berman’s third global private equity co-investment fund has closed at its hard cap of USD1.5 billion. The target of NB Strategic Co-Investment Partners III (NBCIP III) was USD1.25 billion.
NBCIP III seeks to achieve strong risk-adjusted returns by investing directly into attractive deals alongside high-quality private equity firms in their core areas of expertise. It seeks to build a diversified portfolio of strategic co-investments primarily in buyouts and growth financings on a global basis across multiple industries.
NBCIP III is managed by six senior professionals with significant experience and a proven track record in private equity as co-investors.
Neonet, an independent agency broker and execution specialist, has joined Merkur Market, a multilateral trading facility operated by Oslo Børs.
Merkur Market’s rules and regulations are less onerous than for companies listed on Oslo Børs and Oslo Axess. Whilst Merkur Market is not a regulated market, it uses the Oslo Børs trading system, ensuring an orderly market with transparent order book trading. Market surveillance is carried out in the same way as for trading on Oslo Børs and Oslo Axess.
“As an independent execution specialist, it is essential for us to offer comprehensive access to a range of liquidity
LendUp has raised USD150 million in a combination of Series B round financing and an expanded credit facility. The round will allow for the expansion of LendUp's team and platform.
Led by Susa Ventures and Data Collective, the round included participation from almost all of the company's major investors including Google Ventures, QED, Kapor Capital, Yuri Milner, SV Angel, Eagle Cliff, Bronze Investments and Victory Park Capital. In addition, Victory Park also provided a second credit facility to support new product growth.
“Over the last two years we've been growing rapidly by increasing the number of US states where
JLT Specialty USA has appointed Robert Robideaux as the EVP and Regional Head of Client Development, focusing on private equity and alternative investment funds.
Robideaux joins as a member of JLT's Private Equity Executive Committee. His responsibilities will include client development, recruitment and management of a team focused on delivering JLT's specialty risk solutions to the alternative investment community.
“We are excited to announce Robert’s addition to our private equity practice and are pleased to welcome him to our team,” says Mike Rice, CEO of JLT Specialty USA. “We are dedicated to bringing the best talent on board, and
InfraVia Capital Partners is to sell circa 25 per cent of Aurora Infrastructure Oy (Aurora) to funds managed by Access Capital Partners (Access) and Pantheon Ventures (Pantheon).
With circa 5,000 GWh of electricity distributed each year to industrial clients (6 per cent of Finland’s total electricity consumption), Aurora is a prominent player in the Nordic distribution market. It focuses on providing highly reliable distribution to critical industrial sites such as Röyttä in Tornio (Finland) where it serves Outokumpu’s manufacturing units and Kilpilahti near Porvoo (Finland) where it distributes electricity to the largest chemical concentration in the Nordics, with Neste and
Fluid Delivery Solutions (FDS), a provider of oilfield water management services in the Permian, Eagle Ford, Marcellus and Utica basins, has acquired Water Transfer, a water transfer and equipment rental business focused on the Permian Basin.
Based in Midland, Texas, Water Transfer works with top tier operators to deliver cost effective water transfer and equipment rental services. Founded in 2013, Water Transfer has developed a reputation for safety and reliability by delivering superior customer service throughout the Permian Basin.
“We are thrilled to lock arms with the Water Transfer team and are excited to welcome them to the FDS
Emerging Markets Property Group (EMPG), formerly Zamzama Property Group, which controls two international property portals – Pakistan’s Zameen.com and the UAE’s Bayut.com – has closed its Series C funding round with a USD20 million investment from one of its current investors, a fund which focuses on frontier and emerging markets with over USD 1 billion in assets under management.
The funding comes on the heels of a USD9 million Series B round, which was announced in September 2015, bringing the total funds raised by the group in the last six months to USD29 million.
Imran Ali Khan, Co-Founder and
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