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IK VII Fund, advised by IK Investment Partners (IK), is investing in Cérélia Group (Cérélia), a European manufacturer of ready to bake chilled dough. Financial terms of the transaction have not been disclosed.
In 2012, the merger of EuroDough and L'Alsacienne de Pâtes Ménagères (APM) created Cérélia, bringing together nearly 40 years of experience. Today, Cérélia is a leading European manufacturer of ready-to-use private label dough, generating sales of EUR 212 million in 2014. The Company has a wide product range that includes rolled pie dough, pizza dough, exotic dough, pastries, cake batter and organic dough, selling its products both
Private equity investor AE Industrial Partners has signed an agreement to acquire Belcan Corporation (Belcan), an engineering services and technical staffing provider in the aerospace, power generation and industrial markets.
Terms of the transaction, which is expected to close by the third quarter of 2015, have not been disclosed.
BelFlex Staffing Network, Belcan’s light industrial staffing subsidiary, is not included in the transaction.
Belcan is headquartered in Cincinnati, Ohio and has been family-owned since its founding in 1958. Belcan has more than 6,000 employees in 49 locations, including 26 engineering design centres and 23 TechServices locations, serving more than 600
Natixis has acted as Financial Advisor, Rating Advisor, Mandated Lead Arranger and Co-Hedge Coordinator for the EUR1.4 billion senior debt refinancing of French virtual power plant Exeltium.
The operation was achieved through an innovative financing structure, combining two pari passu tranches :
• a Bank Tranche of EUR1 billion;
• a tailored Institutional Tranche of EUR435 million, secured by Exeltium and bringing together 9 institutional investors.
This refinancing, effective upon drawdown as of 4 June 2015, offers Exeltium a 15-year tenor in line with the project’s duration.
Acting as Financial Advisor, Natixis assisted Exeltium in designing an innovative
Peter Freire is to assume the role of Chief Executive Officer of the Institutional Limited Partners Association (ILPA) on 8 June.
Freire succeeds Kathy Jeramaz-Larson who has served as Executive Director for the past eight years and will be stepping down at the end of the month.
Freire joins ILPA following a successful 18-year career at CEB, formerly the Corporate Executive Board, and more recently with the World Economic Forum and as an advisor and consultant to private companies. At CEB, he managed a number of its strategic businesses lines, and was responsible for CEB’s global portfolio of HR
The European Private Equity and Venture Capital Association (EVCA) has a new Chairman, Max Römer, Founding Partner of Quadriga Capital. He succeeds Anne Glover of Amadeus Capital.
Römer has more than 37 years of private equity experience, including working as Investment Manager in the Asean Department of the German Development Bank DEG; being responsible for the establishment of Citicorp’s buyout operations in Germany; as well as being a founding director of the German private equity and venture capital association, the BVK. He founded Quadriga Capital in 1994 and was a Member of the Board and Executive Committee of the EVCA
Richard A Silfen has rejoined law firm Duane Morris as a partner in the Corporate Practice Group.
Silfen is returning to Duane Morris from having served as executive vice president, general counsel and secretary of American Realty Capital Properties, Inc, a commercial real estate investment trust based in Phoenix.
“It was a difficult decision to leave Duane Morris in 2014 so I’m excited to have the opportunity to return to the firm,” says Silfen. “I believe my experience as a general counsel will bring added value to our corporate clients.”
“Richard was a tremendous asset during his original
JLT Specialty Insurance Services has added several new team members to the firm’s Private Equity and Financial Lines Group.
This group will provide brokerage and advisory services to clients in the private equity sector as well as financial institutions, and will be based in JLT Specialty USA’s New York office.
The team of industry professionals who join the Private Equity and Financial Lines Group is comprised of professionals with substantial experience in risk management and consulting practices in the financial services industry. The individuals appointed to this team include:
• Rachel Beck, Vice President;
• Patti Ceglio Johnson, Vice President;
Demands and nuances of Annex IV reporting across Europe could lead to a steady adoption of an outsourcing model among PERE fund managers.
Private equity and real estate (PERE) fund managers are having to adjust quickly to life under the AIFMD, specifically in relation to Annex IV transparency reporting. The majority of managers will have gone through their first iteration at the end of January 2015, and depending on the size of assets under management, AIFMs face the prospect of filing on a semi-annual or quarterly basis; this drops to annually if the manager is considered de minimis by running
Cybersecurity issues have existed as long as the internet. What seems to have changed in the last 18 months is not only that the nature of the breaches has become more sophisticated, but also the fact that hedge funds have become a much bigger target.
For fund-of-hedge-fund (FoHF) managers, whose value-add to investors is identifying the best talent to invest with, the issue of cybersecurity and data protection has taken on far greater importance. They have to be fully satisfied that a manager’s IT network is secure, and that best practices are being adopted as far as possible.
“The cybersecurity
Kensington Capital Partners (Kensington) has held the second closing of the Kensington Venture Fund (Fund) increasing total investor commitments to the fund to USD193 million.
The fund's second closing adds Torstar Corporation to the list of investors, and includes increased commitments from RichardsonGMP and other investors who participated in the initial round.
"We appreciate the confidence and support of all of our investors," says Rick Nathan, Managing Director, Kensington Capital Partners. "It is great to add new partners – and see increased commitments from some of our prior investors – as the portfolio gains traction with its investments."
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