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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
TICC Capital Corp’s investment adviser, TICC Management is to be acquired by Benefit Street Partners (BSP).
BSP intends to expand TICC's investment strategy to primarily focus on private debt investments. BSP is the credit investment arm of Providence Equity Partners, a leading global private equity firm. BSP and affiliates manage over USD10 billion in assets across a broad range of credit strategies including high yield, levered loans, private / opportunistic debt, liquid credit, structured credit and commercial real estate debt.
"We believe that the BSP relationship will allow the Company to realise value for our shareholders in new ways. With
Milbank, Tweed, Hadley & McCloy has added two new partners to the firm’s Global Corporate practice with the arrival of Robert Kennedy and Brien Wassner in the New York office.
Both were previously partners in the New York office of Jones Day.
Kennedy’s practice consists primarily of public and private M&A work, with a focus on private equity transactions, including portfolio company acquisitions and joint ventures. His industry experience is extensive, with a long deal list spanning healthcare, communications, energy, commodities, and financial services. He also advises on corporate governance matters.
Across a 22-year legal career, including 14
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