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The average time taken for private real estate funds to reach a final close so far this year is the longest it has ever been. This extract from Preqin Real Estate Spotlight: August 2015 explores the key trends that emerge when comparing time on the road to fundraising success and past performance in an increasingly competitive market.
The real estate fundraising landscape remains a competitive one, despite increasing institutional demand for exposure to the asset class. Preqin’s Real Estate Online contains detailed profiles for over 4,900 private real estate funds worldwide, which include information on strategy and geographic preferences, fundraising,
Zodius Technology Fund has led a USD20 million round for investing in Allygrow Technologies, an engineering services company.
Along with Zodius, IT industry veteran Atul Nishar and Allygrow founder Prashant Kamat are also investing in the company. Allygrow plans to use the funds to set up its operating infrastructure, build a global team and make strategic acquisitions.
The recently incorporated Allygrow, with headquarters in Pune, India, will serve industries such as aerospace, automotive, hi-tech, heavy industries, and medical devices amongst others. The company is being led by the founder and CEO, Prashant Kamat, who brings over 20 years of
PHEMI has raised a USD12.2 million round of venture financing to expand the commercialisation phase of the company.
Secured by a combination of new and existing investors, the financing was co-led by CTI Life Sciences Fund (CTI) and British Columbia Discovery Fund (Discovery Capital). It also included significant participation from early investors BDC Capital Healthcare Venture Fund and Yaletown Venture Partners.
A team of serial entrepreneurs, Dr Paul Terry, Adam Lorant and John Seminerio – with expertise in developing and commercialising innovative business and technology solutions for a wide variety of industries, including healthcare, telecommunications and high-performance computing –
Palamon Capital Partners and Corsair Capita are to jointly acquire control of Currencies Direct, a specialist provider of foreign exchange (FX) and international payment solutions to private and corporate clients.
The transaction value exceeds GBP200 million.
The acquisition is structured so that Currencies Direct management will increase its ownership position in the company and will also include continuing equity participation by the firm’s principal founder, Mayank B Patel OBE, who will become Honorary President.
Currencies Direct’s Private FX segment provides foreign exchange services to more than 150,000 registered retail clients. Its Corporate FX segment offers foreign exchange services to
EMEA deal volume may have slowed down across the region, down 15 per cent year-on-year with a total of 2,779 announced deals recorded, but deal value has seen a significant boost on last year’s figures, up by 16 per cent and recording a total of EUR414.8 billion.
That’s according to the half-year 2015 edition of Mergermarket’s EMEA Deal Drivers.
“Confidence among corporates that have steadily strengthened their balance sheets has risen in the last year. This in turn has leant itself to increased M&A activity among blue chips as they compete for market position,” says Paul Francis-Grey (pictured), Deputy
CapitalSouth SBIC Fund IV has invested USD9.4 million in Fresh Dining Concepts in a combination of senior secured debt and equity.
Headquartered in Delray Beach, Florida, Fresh Dining Concepts is an Auntie Anne’s Inc franchisee that operates 22 in-line stores, baking kiosks, and satellite retail units. Twenty locations are branded as Auntie Anne’s, and two locations are co-branded with Cinnabon. The Company is the fourth largest franchisee in the Auntie Anne’s system and operates stores in New York, Florida, Louisiana, and Puerto Rico.
CapitalSouth Growth Fund investment will help the Company’s next phase of growth.
Sliced Investing, an online alternative investment platform that gives accredited investors access to elite investments like hedge funds and private equity, has launched Sliced Institutional.
Sliced Institutional is dedicated to giving registered investment advisors (RIAs) access to a suite of alternative investments while also automating all the manual tasks associated with private investments. Sliced Investing is launching the platform with a strategic partnership with Krusen Capital, who provides access to over 35 private offerings – many of which are household name hedge funds or private equity funds. Financial advisor firms Harvest Financial Group, Fort Point Capital and Caerus Advisors are
Centaur Private Equity has successfully exited its venture capital investment in Sport Events International Ltd (SEI).
SEI is the holding company of a series of sports based event companies including; Global Legends Series, which brings together a group of legendary football players from around the world to play against each other in legend vs legend games in different cities worldwide; F5WC, the world's largest 5-a-side football tournament; and World Soccer Fives USA, a multi city tournament to find the best amateur 5-a-side soccer team in the United States to represent the USA in the F5WC World Finals.
Global Legends
An affiliate of private equity investment firm HIG Capital has made a strategic investment in Milestone Technologies, Inc. Founded in 1997, and headquartered in Fremont, CA, Milestone is a provider of managed information technology services to rapidly-growing, global enterprises.
HIG has partnered with Milestone Founder and CEO, Prem Chand, to continue to deliver differentiated, world-class IT services to Milestone’s customers and to enable the Company’s continued expansion.
Chand says: “We are very excited about this partnership with HIG and the shared vision we have for the next stage of Milestone’s growth. HIG’s investment will provide us the capital and
Symantec Corp is to sell its information management business, known as Veritas, to an investor group led by The Carlyle Group together with GIC, Singapore’s sovereign wealth fund, and other expected co-investors, for USD8 billion in cash.
The transaction, which was unanimously approved by Symantec's Board of Directors, is expected to close by 1 January, 2016.
Upon closing of the transaction, Symantec expects to receive approximately USD6.3 billion in net cash proceeds, subject to certain customary post-closing adjustments. Symantec will take a comprehensive and disciplined approach to capital deployment focused on both returning capital to shareholders and investing in
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