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Ropes & Gray represented six pharmaceutical companies and Alzheimer’s Research UK in their investment in the Dementia Discovery Fund (DDF), a UK Government-sponsored fund established to support the discovery and development of novel dementia treatments.
This public-private collaboration is the first of its kind to address one of the most important global medical needs.
“This was a unique opportunity to represent six leading pharmaceutical companies and Alzheimer’s Research in their pioneering collaboration with the UK Government to fund new treatments for dementia,” says Matthew Judd, the Ropes & Gray private investment funds partner who led the deal. “The worlds of
Morrison & Foerster advised Global Logistic Properties Limited (GLP), the leading provider of modern logistics facilities in China, Japan, and Brazil, on the syndication of 45 per cent of its interests in GLP US Income Partners I.
The syndication, to two leading global institutional investors from Asia and one from North America, closed on 26 October.
Morrison & Foerster’s deal team is led by Singapore corporate partners Eric Piesner and Shirin Tang, Washington, DC corporate partner David Slotkin, and Singapore associates Lip Kian Ang and Lisa Park. Advice was also provided by San Francisco corporate partner Ken Muller, New York
Law firm Howard Kennedy has advised Puma VCT 12 (managed by Puma Investments, part of the Shore Capital Group) on the launch of its 2015 prospectus.
This is the twelfth Puma VCT promoted and managed by the Puma Investments team and sponsored by Howard Kennedy. Puma Investments has a strong track record in providing funding to established businesses across the UK. Its principal focus is on capital preservation and generating stable returns for its investors.
Puma VCT 12 looks to raise £30m in this tax year. Puma VCT 11, launched in the 2013/14 tax year, raised over GBP30m, representing
Technology-focused private equity firm Francisco Partners is to sell Aesynt to Omnicell for USD275 million. Francisco Partners acquired Aesynt in October 2013.
“It has been a true pleasure to partner with the Aesynt management team to transform the business,” says Chris Adams, partner at Francisco Partners and chairman of the Aesynt board of directors. “Through significant investment in new products – particularly new enterprise medication management software – the team significantly revitalised the organisation and returned it to rapid growth.”
Aesynt enables health systems to reduce cost and improve patient safety through the integration, automation, and management of medication preparation and
CitySprint has completed the acquisition of Dartford-based Bexley Couriers, bringing the number of acquisitions made by CitySprint to twenty-one, since it received investment from UK mid-market private equity firm Dunedin in 2010.
It follows the acquisition of two Milton Keynes based logistics operations, CJ’s Logistics and Worldwide Logistics and Distribution, which took place earlier this year.
Since its establishment in 1988, Bexley Couriers’ diverse fleet has offered a range of local and national delivery services. The acquisition further strengthens CitySprint’s regional network, whilst giving Bexley Couriers’ customers access to CitySprint’s unrivalled network of 3,000 couriers, which can reach
CapitalSouth SBIC Fund IV recently invested USD5.8 million in Stadium Consolidation (Staging Concepts) in a combination of subordinated debt and preferred equity.
Headquartered in Minneapolis, Minnesota, Staging Concepts is a manufacturer of staging and seating risers, acoustical products, and railing products for sports stadiums, performing arts facilities, and live event venues. The Company also manufactures modular and custom stainless steel railings systems and fabricates aluminium rails for commercial high-rise construction projects.
CapitalSouth Growth Fund’s investment will help the Company’s next phase of growth.
Fund performance and industry dry powder is analysed in this extract from the Preqin Quarterly Update: Private Debt, Q3 2015.
Fig 1 displays the median proportions of committed capital called up by the end of the first and second investment years, among all private debt funds for vintage years 2006-2014. It shows that post-2008, the median proportion of capital called up during the first two years of investment is lower than before the financial crisis. This could be explained by recent fundraising success pushing up dry powder levels at a faster rate than available deals in a competitive marketplace.
Preqin’s Real Estate Online currently tracks 62 South Korea-based institutions that are actively investing in the real estate asset class, collectively representing USD2.5 trillion in total assets.
A large proportion of South Korea-based real estate investors are insurance companies (31 per cent) and banks or investment banks (27 per cent), with public pension funds (18 per cent) and asset managers (10 per cent) also making up notable proportions of the investor pool. With 85 per cent of the real estate investor population comprising these traditionally large institutions, it is unsurprising that nearly half hold more than USD15 billion in assets
Investors in AppBox Media, a UK based developer of mobile applications and video games, will have received Enterprise Investment Scheme (EIS) rebates of almost GBP1million. To date, GBP720,000 of EIS claims have been made, with a further 200,000 to be submitted before Christmas.
AppBox Media launched as a qualified EIS in July 2013.
The company launched its 5th round of fundraising on 14 September 2015 priced at GBP8.12 per Ordinary A Share of GBP1.00 each. The intention was to raise approximately GBP975,000 from institutional and private investors on the basis of a current Information Memorandum. As of today the company
AMG Funds and Pantheon, have finalised the 1933 Act registration of the AMG Pantheon Fund making it more widely available to accredited investors seeking access to a diversified, institutional-calibre portfolio of private equity through a single investment.
The Fund is a multi-manager vehicle that seeks diversification across all key private equity categories – manager, stage, vintage, industry and geography – by targeting opportunities across the private equity universe. Compared with traditional private equity offerings, the Fund features a low minimum investment of USD25,000 and simple 1099 tax reporting.
“With consistently superior long-term returns relative to public market assets, private equity
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