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Eurazeo is investing EUR300 million in Fintrax, one of the world’s leading providers of Tax Free Shopping (TFS) and Dynamic Currency Conversion (DCC) services.
Eurazeo will own 90 per cent of the equity and quasi-equity of the Fintrax group, the remaining being held by the firm’s management team. Eurazeo’s investment is based on an enterprise value of EUR550m, with a further EUR35m payable based upon 2016 performance. Closing is expected to occur before year-end.
Founded in Ireland in 1985, Fintrax is the parent company to Premier Tax Free, the number two player in TFS worldwide, helping eligible international travellers
After working with their M&A Team on a substantial number of cross-border deals US-based Equity Risk Partners Global have asked Vista Insurance Brokers Ltd to lead their network for Europe, the Middle East and North Africa.
With more and more mid-market businesses establishing a local presence in jurisdictions outside their traditional home locations and with the volume of cross-border deals rising, Gavin Ruben, Managing Director at Vista explains that: “There has been an increasing demand for insurance due diligence and portfolio servicing support to mirror this growing international presence.
“For Vista and our Private Equity clients the strengthening of
DMS Offshore Investment Services (DMS) has recruited Charles Cassidy, former Managing Director of the Business Risk Management Team at Cambridge Associates, to join the firm as a Director.
Cassidy will play a key role in serving as an independent director and consultant on the boards of investment funds and related structures. He will also provide thought leadership to institutional investors and consultants through DMS roundtables and seminars, industry conferences, articles and proprietary research.
"Charlie's stellar record of achievement in hedge fund operations and directing operational innovations adds new dimension and will serve to enhance our client relationships in so
Active private equity funds generated USD24.2 billion in realised net gains for the California Public Employees' Retirement System (CalPERS) from 1990 to 30 June, 2015, based on data from the fund’s new Private Equity Accounting and Reporting Solution (PEARS).
During that same time period, PEARS data shows that CalPERS' external investment partners have realised USD3.4 billion from profit sharing agreements with CalPERS.
Over the 2014-15 Fiscal Year alone, CalPERS realised USD4.1 billion in private equity net gains while its external investment partners realised USD700 million from profit sharing agreements, according to PEARS data.
"The launch of the PEARS
Nexxus Capital has acquired Inversionistas en Restaurantes de Carnes y Cortes (IRCC), a subsidiary of multibrand casual dining restaurant platform International Meal Company Alimentação.
IRCC operates 51 company owned and 24 franchised casual dining Restaurants, mainly in Mexico City with presence in 17 other states. The Company has well-positioned brands in the casual dining restaurant sector through four main brands: La Mansión, Gino’s, Casa Ávila and Bistrot Mosaico.
Subject to internal authorisations, the transaction would be carried out by Nexxus VI Trust and Nexxus Capital Private Equity VI, directly or through Taco Holding, a portfolio company of Fideicomiso Nexxus
An investment fund affiliated to private equity firm Lightyear Capital has completed its acquisition of a majority equity stake in Pathlight Capital, a commercial finance company dedicated to providing companies innovative financing solutions to support growth, acquisitions, refinancings, and restructurings. The terms of the transaction have not been disclosed.
Founded in 2012, Pathlight has focused on providing secured asset-based loans primarily to companies in the consumer and retail sector. Going forward, Pathlight intends to use its expertise to tailor financing solutions for companies not just in the consumer and retail sector, but for companies in other industry sectors as well.
Cleary Gottlieb is advising pharmaceutical company Allergan on its USD160 billion merger with Pfizer which will create a new major player in the global biopharmaceuticals market.
Under the terms of the proposed transaction, the businesses of Pfizer and Allergan will be combined under Allergan plc, which will be renamed Pfizer plc. The transaction is subject to regulatory approvals and is expected to close in the second half of 2016.
The multidisciplinary Cleary Gottlieb team advising Allergan is led by corporate/M&A partners Paul Shim and Jim Langston. The corporate/M&A team also includes associates Kimberly Spoerri, Kyle Harris, Luke Ricci, Raymond Palmer and
Corporates, or strategic buyers, may participate in more merger and acquisition (M&A) transactions in the US lodging industry if the capital conundrum for private equity (PE) firms persists, says Fitch Ratings.
Lower investor demand for high yield bonds and loans caused by recent capital markets volatility, if continued, would increase the cost of debt capital for PE firms, making it more challenging for them to deploy their significant uncalled investment capital, or dry powder.
Total PE dry powder was USD1.34 trillion as of October 2015, up 12.9 per cent from year-end 2014, according to Preqin. Uncalled capital for real
Invest Europe, formerly the European Private Equity and Venture Capital Association, has published its 2015 Professional Standards Handbook, "a comprehensive and up-to-date set of standards and guidelines for the private equity industry".
Invest Europe says the Handbook reflects the heightened standards of transparency and accountability being pursued by investors in Europe’s growing private equity industry, which represents €545 billion of assets under management. It also takes into account the new regulations in Europe, including the Alternative Investment Fund Managers Directive (AIFMD), which came into force since the last detailed update of the Handbook in 2013.
“Invest Europe has been
Funds affiliated with CVC Capital Partners (CVC) and Canada Pension Plan Investment Board (CPPIB) are to jointly acquire Petco Animal Supplies from a group of investors led by TPG and Leonard Green & Partners for approximately USD4.6 billion.
The acquisition is expected to close in early 2016.
Based in San Diego, Petco is a leading specialty retailer of premium pet food, supplies and services. The company operates more than 1,400 Petco locations across the US, Mexico and Puerto Rico, along with one of the leading ecommerce platforms in the pet industry.
“We are very excited to partner with
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