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American Capital is to launch American Capital CLO Fund I, LP, a new USD450 million fund focused on investing in equity tranches of collateralised loan obligations (CLOs).
Closing of the Fund is expected to occur within 90 days and is subject to standard conditions. The transaction further expands American Capital's asset management business and will increase American Capital's third-party earning assets under management by USD450 million, or 3 per cent.
The Fund, which will be comprised entirely of third party investors, will purchase USD300 million of American Capital's existing CLO equity portfolio at its fair value as of 30 June,
Ogier has acted for Golden Star Resources in connection with its USD150,000,000 financing obtained from Royal Gold.
The USD150,000,000 financing consists of a USD20,000,000 term loan from Royal Gold, Inc. and a USD130,000,000 stream transaction with Royal Gold, Inc.’s wholly-owned subsidiary, RGLD Gold AG.
Golden Star Resources Ltd is an international gold mining and exploration company producing gold in Ghana, West Africa. The financing will facilitate the development of the company’s Wassa and Prestea underground mines located in Ghana.
Ogier worked with Fasken Martineau, Canadian counsel to Golden Star Resources. Managing associate James Heinicke, partner Bradley Kruger and associate
New York City is home to over a third of all the assets in the hedge fund industry today. We provide a comprehensive overview of the hedge fund industry in New York City, including New York City-based investors’ plans for the next 12 months, the number of hedge fund launches each year, fund terms and conditions, the largest hedge fund managers and performance.
Read the full factsheet here, featuring charts and tables showcasing the latest Preqin data on New York City-based hedge funds.
Monroe Capital has acted as sole lead arranger and administrative agent on the funding of a USD36 million unitranche credit facility to support the acquisition of Virtium by private equity sponsor, L Squared Capital Partners.
Founded in 1997 and based in Rancho Santa Margarita, California, Virtium is a leading provider of customised, ruggedised, and highly engineered industrial memory and embedded solid state drive products to the industrial market. In recent years, the company has experienced significant growth as a result of increasing demand for highly customised memory and storage products.
Private equity firm Thoma Bravo has acquired iPipeline, a provider of cloud-based software solutions to the life insurance industry. Financial details have not been disclosed.
“iPipeline typifies what we look for in an investment opportunity,” says Holden Spaht, a managing partner at Thoma Bravo. “The Company is a market leader with a mission critical product offering and has a strong secular growth opportunity from the continued migration of life insurance applications from print to digital.”
Founded in 1995, iPipeline provide SaaS solutions that drive straight-through processing for the insurance and financial services industry. With more than 400 employees worldwide,
Jarrett Vitulli has joined Evercore EVR’s Private Capital Advisory business (PCA) as a Managing Director. He will be based in New York where he will help lead PCA's North American advisory efforts.
Vitulli was most recently a Managing Director at Landmark Partners. Prior to that, he was a Managing Director at UBS where he worked on the Secondary Advisory Team in New York for nine years. Vitulli has extensive secondary market experience and has led a number of notable secondary transactions for clients including leading public pensions, university endowments, financial institutions, hedge funds and leading private equity general partners. He holds an
CIT Sponsor Finance has provided senior secured credit financing to Altamont Capital Partners (ACP) and Douglas Products, LLC (Douglas) to acquire the Vikane and ProFume businesses from Dow AgroSciences.
ACP is a San Francisco Bay area private equity firm focused on middle market businesses and partnering with leading management teams to help them reach their full potential. Douglas is a leading manufacturer and distributor of specialty chemical products for pest management, thermal fluids and sanitary sewer applications. Financing for CIT was provided by CIT Bank, the US commercial bank subsidiary of CIT. Terms of the transaction have not been disclosed.
London is the second largest centre for hedge funds globally, behind New York City. Here, we take a detailed look at the hedge fund industry in London, including London-based investors’ plans for the next 12 months, the number of hedge fund launches each year, fund terms and conditions, the largest hedge fund managers and performance.
Read the full factsheet here, featuring charts and tables showcasing the latest Preqin data on London-based hedge funds.
Portcullis Asset Management Limited is launching as a Malta based Alternative Investment Fund Manager (AIFM) to assist alternative investment funds to comply with the Alternative Investment Fund Management Directive (AIFMD).
Portcullis has appointed David Barry to the board and as its new CEO. Barry joins Portcullis from TMF Custom House Group where he was Head of Sales and Business Development and part of the Executive Committee. Barry has over fifteen years experience across the EU and US funds industry. He is a Fellow of the Association of Chartered and Certified Accountants.
As a regulated AIFM, Portcullis will assume responsibility for
Tintri, a producer of VM-aware storage (VAS) for virtualisation and cloud environments, has closed a USD125 million Series F round led by Silver Lake Kraftwerk.
Tintri’s existing investors – Insight Venture Partners, Lightspeed Ventures, Menlo Ventures and NEA – also participated in the round, bringing Tintri’s total capital raised to USD260 million. The company will use the funding to accelerate global adoption of VM-aware storage.
“We are honoured to be partnering with such an esteemed group of investors,” says Ken Klein (pictured), chairman and CEO for Tintri. “The storage industry is going through a dramatic transformation. Virtualisation and cloud
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