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Darktrace has completed a USD22.5 million Series B with Summit Partners, a global growth equity investor. The round completes an exceptional growth year for Darktrace, with Talis Capital extending the Series A they led in March 2015, with a further USD1.8m prior to the Series B round.
Darktrace’s Enterprise Immune System represents a new class of cyber defence software that helps enterprises and government bodies protect themselves against advanced attacks and data compromises from within the network. Powered by Bayesian mathematics and advanced machine learning developed at the University of Cambridge, Darktrace analyses network activity and learns the behaviour of
Chris Fowler has joined CVC Credit Partners as a Managing Director in the Private Debt team, led by Tom Newberry, Partner. Fowler will be based in London and will report to Neale Broadhead, Managing Director and Portfolio Manager.
In this new role, he will be responsible for investments in CVC Credit’s European mid-market lending strategies.
Fowler joins CVC Credit Partners from GE Capital, where he was a Managing Director in the mid-market Leveraged Finance Origination team. During his 10 years at GE Capital, Chris arranged over 50 financings across Europe and the US, including senior, mezzanine, unitranche and high-yield
Backstop Solutions Group – a provider of cloud-based solutions designed to help the institutional investment industry save time, increase productivity and make better investment decisions – has partnered with Preqin Ltd.
With this partnership, Backstop users can now seamlessly integrate Preqin investor data into their Backstop CRM platform.
“Many of our clients are already using the Preqin database to source potential clients, so this partnership will further streamline their sales and marketing efforts and help them work more efficiently.” says Robert Goldbaum, Backstop’s Vice President of Product & Market Strategy. “With this integration, Backstop clients will have access to the
Union Group has continued its expansion in the growing Peru hydropower sector with the acquisition of Empresa de Generación Eléctrica Canchayllo SAC (EGECSAC), a subsidiary of Rurelec PLC, for a total consideration of USD14.3 million.
The deal includes a 5.26MW run-of-river hydro power plant in Junin, Peru, which adds to Union Group’s substantial hydropower portfolio in the country. Across Peru, it is developing close to 1,000 MW of combined capacity.
Juan Sartori (pictured), President and Founder of Union Group, says: “Hydropower is a strategically important sector for Union Group in Peru, one involving long-term, cash-generative real assets that help
Investors and fund managers alike frequently benchmark private equity returns against public markets in order to gauge the relative performance of their investments.
For investors, it is an important exercise to undertake to inform portfolio construction decisions and to evaluate the performance of one asset class against another. For fund managers, it forms a key aspect of fund marketing to help secure investor commitments. Private equity returns, however, are not directly comparable with public market indices, due to the asset class’s illiquid nature and irregular timing of cash flows.
To aid the industry in benchmarking performance, Preqin has launched
Private equity firm Swander Pace Capital is, is selling Merrick Pet Care, a natural and organic pet food leader, to Nestlé Purina PetCare. Terms of the deal have not been disclosed.
Other selling shareholders include founder Garth Merrick, Monitor Clipper Partners, and Highland Consumer Partners.
Since Swander Pace acquired the company in 2010, Merrick has grown into a flagship brand in the natural and organic pet food category, with three leading brands, Merrick, Castor & Pollux and Whole Earth Farms, which are sold through specialty pet, natural grocery, and mass channels. The sale marks Swander Pace Capital’s second major exit
Alliance Tire Group (ATG) has joined KKR’s Green Portfolio Program (GPP), an operational improvement program that uses an environmental lens to assess critical business activities of KKR’s participating private equity portfolio companies.
ATG is a global tire maker that specialises in producing off-highway tires and caters primarily to the agricultural, forestry and construction industries.
ATG’s entrance into the GPP enhances its existing sustainability efforts which have been an area of focus since ATG’s inception. These initiatives center on reducing energy consumption, minimising scrap waste and environmental impact at its tire manufacturing facilities in India and Israel. The factories in India
KKR has appointed former President and CEO of the Tokyo Stock Exchange (TSE) and the Japan Exchange Group (JPX), as Non-Executive Chairman of KKR Japan, effective 1 August, 2015.
Henry R Kravis (pictured), Co-Founder, Co-Chairman and Co-CEO, says: “We are extremely fortunate to have Mr Atsushi Saito join us. He brings immense expertise gained through his distinguished career, where he has worked and advocated to bring value to companies and uphold the highest corporate governance standards.”
Joseph Y Bae, Managing Partner of KKR Asia, adds: “We across KKR Asia and, indeed, our global network, look forward to learning from his
The Managed Funds Association (MFA) inaugural European Conference, the Global Summit 2015, will be held on 27 October in London.
The conference aims to broaden awareness of the important role alternative investments play in the European Union and help fund managers navigate evolving US and EU regulatory frameworks.
“As the global voice for the alternative investment industry and its investors, MFA is excited to announce our upcoming Global Summit,” says MFA President and CEO Richard H Baker (pictured). “This conference will provide a focused day of content designed to help managers gain clarity on what they need to know
The number of high value buy-out deals in Wales doubled last year, as MBO activity has rebounded to pre-credit crunch levels, according to an analysis by Hugh James solicitors and PwC.
According to Hugh James and PwC, there were six buy-out deals with an enterprise value of more than GBP3million in Wales in 2014 – up from just three in 2013.
The last time there was this number was in 2007. At the height of the recession in 2009 and 2010, no MBO deals of this size were recorded in Wales at all, with only one in 2011.
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