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Preqin’s latest factsheet takes a detailed look at closed-end private real estate fundraising for emerging managers in Europe.
Fundraising
Preqin’s Real Estate Online contains detailed information on 233 private real estate funds managed by Europe-based emerging managers*, which have raised EUR38 billion since 2007. Fundraising by Europe-based emerging private real estate managers has not emulated its pre-crisis peak of 54 funds reaching a final close on EUR9 billion in capital commitments in 2007 (Fig 1). Since then, fundraising has struggled to gain momentum, with an average of 20 funds reaching a final close annually and raising an average of EUR3.5
Stephen Lansdown, co-founder of FTSE100 financial services group Hargreaves Lansdown, is becoming a partner and shareholder in creative investment group Edge Investments through the private equity arm of his family office.
Lansdown, who has in the past invested in a number of Edge’s funds, is taking a 10 per cent stake in the firm and will work alongside David Glick, Edge’s founder and Chief Executive as he expands the business. Terms of the investment were not disclosed.
Last week Edge announced the launch of its GBP40 million Edge Creative Enterprise Fund, its largest fund-raising to date, with backing from
Pharmaceutical manufacturer Synerlab has acquired Alcala Farma, a Spanish contract development and manufacturing organisation (CDMO). Alcala Farma specialises in the development of proprietary formulation, which represents nearly 40 per cent of its total EUR25 million sales.
Alcala Farma’s current portfolio of pharmaceutical drugs comes in multiple dosage forms includes sterile products, oral liquids, oral solids and topical products. Manufacturing is covered by two production sites in Spain, with one specialising in soft gelatin capsules and the other covering more than 250 formulations and 3 500 references.
For Synerlab, which has sales of nearly €M 110 and over 700 employees across
A fund managed by its Ares EIF Group has completed its acquisition of the Van Hook Gathering System in North Dakota from WPX Energy (NYSE: WPX) in a transaction valued at USD185 million. The transaction was originally announced on 31 August, 2015.
The acquisition consists of pipeline systems that currently gather approximately 11,000 barrels of oil, 6,500 million cubic feet of natural gas, and 5,000 barrels of water per day from WPX Energy’s Bakken shale oil assets. WPX Energy will continue to operate the Van Hook Gathering System, and MCP Operating, LLC, a subsidiary of MCP Asset Development Group, will
Tyre manufacturer Apollo Tyres, headquartered in the Indian city of Gurgaon, has acquired the Bielefeld-based reifencom Group. The purchase price was around EUR 45.6 million.
The acquisition of reifencom is part of Apollo Tyres’ strategy to expand its European business. The transaction is currently awaiting approval from the competition authorities.
A team from CMS Germany led by Dr Richard Mayer-Uellner and Klaus Jäger advised Apollo Tyres Ltd. on all legal aspects of the acquisition. The transaction was conducted to a very tight schedule. CMS regularly acts for Apollo Tyres on transactions, with CMS Netherlands advising on the acquisition of
American Capital has elected David G Richards to the firm’s board of directors, effective immediately. He will become a member of the Board's Executive Committee and its Au
Cadwalader, Wickersham & Taft LLP, a counsellor to global financial institutions and corporations, has promoted eight associates to Special Counsel.
"Cadwalader is proud to introduce our 2016 class of Special Counsel," says Pat Quinn, Cadwalader's Managing Partner. "These up-and-coming lawyers from our multiple offices and practice groups represent the best talent that Cadwalader produces. The Firm's ability to attract, develop and promote outstanding young attorneys is one of our great strengths and ensures exceptional service to our clients for many years to come."
Kahn D Hobbs, Capital Markets, Charlotte – Kahn's practice is concentrated in the area of structured
Victory Park Capital (VPC) and KKR have led the USD175 million asset-backed securitisation of unsecured consumer loans originated via Avant, an online lending platform, that was priced on 13 November.
The transaction with KKR marks VPC’s first issuance into the asset-backed securitisation market. The inaugural 144A securitisation is comprised of three tranches of unrated notes supported by an initial pool of Avant loans totalling approximately USD195 million. The transaction will help Avant expand its platform that offers personalised credit options for consumers. Avant will continue to act as the servicer for the underlying loans.
“This securitisation will further Avant’s
McCarthy Capital, a private equity investment firm, has sold its equity interest in Benaissance, a provider of SaaS technologies and services for healthcare premium billing, payment and workflow management, to Evolution1, a wholly-owned subsidiary of WEX Inc.
Benaissance’s SAAS solutions include ExchangePoint, which addresses the financial management demands of public and private health insurance exchanges for employers and individuals, and COBRApoint, which addresses financial management, benefits administration and payment processing for individual subscribers.
Benaissance’s platform offers consolidated individual and group premium billing and payment technology and services to employers and consumers via public and private exchanges, carriers and third
Private equity firm Lynx Equity Limited has received CAD15 million in financing from The Labourers’ Pension Fund.
“This financing represents the culmination of many significant years of growth and surpassing many of our goals,” says Lynx President Brad Nathan. “This investment will allow us to continue achieving our strategic goals and we are confident that this marks the beginning of a long and successful relationship with the Labourers’.”
Over the past five years, Lynx’s revenue has grown 1300 per cent, to over CAD290 million, and it was named one of Canada’s Fastest Growing Companies by PROFIT Magazine in 2014
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