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Crestbridge in Jersey has been approved by the Jersey Financial Services Commission (JFSC) to provide Management Company (ManCo) solutions to Jersey funds, adding further to its offshore and onshore alternative fund servicing and management capabilities.
The award of the licence means that Crestbridge in Jersey will now be one of only a handful of firms able to act on behalf of fund managers as an appointed management company, provide risk management oversight, oversee delegation for portfolio management, central administration and distribution, and coordinate communication with third parties and regulators.
The Jersey ManCo option is anticipated to be popular amongst
London‐based education technology start-up, BridgeU, has finalised a USD2.5 million seed fundraising round led by Octopus Investments, with participation from Fresco Capital and Seedcamp.
Other prominent investors include Jonnie Goodwin (Lepe Partners/Founders Forum) and Deborah Quazzo, who plans to contribute her personal investment in BridgeU to GSV Capital’s new EdTech focused fund.
BridgeU has developed the first adaptive university preparation and careers guidance platform for students and secondary schools for use both here in the UK and internationally. A SaaS solution, the platform uses machine learning techniques to recommend to students the best courses and appropriate Universities for them,
KKR has completed an investment in Yuehai Feed Group Co, an China-based aquatic feed company focused on providing feed and nutrition solutions for shrimp and seawater fish farming.
Yuehai and KKR are partnering to expand the Company’s operations and provide safe and high-quality aquatic feed to the country’s large base of fishery farmers and suppliers to better meet the demand of Chinese consumers for safe and healthy animal protein options.
Yuehai is the largest manufacturer of high-end special aquatic feed products in China by market share according to China Feed Industry Yearbook, with a primary focus on shrimp feed
JZ Capital Partners has sold its investment in Justrite Manufacturing Company (Justrite) for USD21.4 million.
Justrite manufactures products specifically designed to help workers store, transfer, use and dispose of hazardous materials in a safe and convenient manner.
JZCP first invested in Justrite in June 2011 alongside an investor group led by the US private equity arm of Baird Capital. JZCP’s investment was USD6.1 million.
David Zalaznick, JZCP’s Founder and Investment Adviser, says: “We invested in Justrite as part of our strategy to co-invest with strong sponsors such as Baird Capital. We appreciate the management team’s effort to make
The John Laing Environmental Asset Group (JLEN) has acquired a solar PV portfolio for a cash consideration, including working capital, of GBP9.7 million.
The fully operational 2.3 MW solar energy generation portfolio comprises 303 systems of residential rooftop, commercial rooftop and commercial ground mounted solar PV installations, distributed across England, Wales and Scotland. The portfolio benefits from the UK feed-in tariff for 25 years from the date of installation of individual systems which is linked to an annual increase in the UK Retail Price Index.
The portfolio comprises a number of special purpose companies financed and owned by Venture
Private equity funds managed by Blackstone have agreed to sell GCA Services Group (GCA) to a consortium of the Merchant Banking Division of Goldman Sachs and Thomas H Lee Partners.
GCA is a provider of janitorial/custodial and facility management services to over 930 customers, including ~20 per cent of the Fortune 500, across 4,400+ sites and 46 states, the District of Columbia, and Puerto Rico. Founded in 2003 and based in Cleveland, Ohio, GCA has more than 37,000 employees and serves clients across diverse end-markets, including K-12 schools, higher education, manufacturing, corporate office buildings, high-tech, bio-pharmaceutical, nuclear power, defense and
Andrew Cosslett has joined private equity firm Advent International as an Operating Partner.
Cosslett will work closely with Advent’s Retail, Consumer and Leisure team to identify new investment opportunities across Advent’s global network, with a particular focus on the leisure sector. He will also be available to support Advent’s current and future portfolio company activity as appropriate.
Cosslett’s career spans 35 years, during which time he has held a number of senior positions across a wide range of companies in the retail, consumer and leisure sectors. He began his career at Unilever before holding significant management positions at Cadbury Schweppes plc, including
Law firm Paul Hastings has appointed structured finance and capital markets specialist Paul Severs as a partner in the firm’s Corporate practice ion London.
Severs will be joining the firm from Berwin Leighton Paisner, where he is Head of Structured Debt and Capital Markets.
Severs has extensive experience in the structured finance and securitisation markets across all asset classes. Most recently he has been advising on the establishment of new funds, establishing or acquiring new origination platforms, and advising portfolio companies.
He advises his clients on a wide range of transactions, including loan originations (and acquisitions or disposals
Vector Capital has combined portfolio companies Freedom Scientific and Optelec to create the world's largest assistive technology provider for the visually impaired.
The two companies have a long history of providing innovative technology solutions that enable blind and low vision individuals to reach their full potential – to gain an education, obtain employment, succeed in professional careers, and live independently throughout their lives.
“Combining our complementary businesses gives us the broadest portfolio in the industry and unmatched worldwide distribution and customer support,” said John Blake, President and CEO of Freedom Scientific. “The combined company will be able to offer
The specialist securitisation team of leading Scottish law firm, Shepherd and Wedderburn, has acted alongside Allen & Overy in advising the debt funders Cerberus Capital Management’s acquisition ofNorthern Rock’s GBP13 billion asset portfolio – the largest ever financial asset sale by a European government.
Shepherd and Wedderburn advised the arrangers of the financing on the transaction, leading on Scots law structuring and advice.
Following a competitive bidding process, the asset portfolio, which includes mortgages acquired by the UK government during the financial crisis, is being sold by UK Asset Resolution Limited to Cerberus and its affiliates. Cerberus is purchasing
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