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Moorfield Group has completed the acquisition of the mixed-use Riverlights scheme in Derby for GBP16.5 million, representing a yield of 10 per cent. The asset has been bought out of administration.
Extending to 199,008 sq ft including four upper floors, Derby Riverlights comprises a combination of retail and leisure units ranging from 3,600 to 8,000 sq ft, alongside two hotels occupied by Holiday Inn and Hampton by Hilton, and a Genting Casino.
Built in 2010, Derby Riverlights is located on the eastern edge of Derby city centre, adjacent to the intu Derby shopping centre and Riverside Gardens, and acts
Vistara Capital Partners has raised CAD80 million for its inaugural fund, well in excess of its initial CAD50 million minimum target, and within an 80 day period of commencing fundraising. Vistara is targeting an overall fund size of CAD100 million.
Vistara has been co-founded and will be managed by two well respected and seasoned technology and finance executives with over four decades of collective relevant experience: Fabio Banducci, most recently as CEO of Peer 1 Hosting where he led its turnaround and growth over 8-1/2 years through to exit for CAD650 million in 2013; and Randy Garg, most recently as
Mid-market private equity investor LDC has appointed Simon Adcock as a Portfolio Director.
Adcock, an ACA qualified accountant, has almost 20 years of Big 4 advisory experience, latterly as partner and regional head of Deloitte’s Corporate Advisory business, an area he helped to establish in 2005 to support privately owned and private equity-backed mid-market companies going through change, restructuring or refinancing.
He began his career at KPMG in Birmingham before joining Deloitte in 2004, making partner in 2010. He also spent two years in Australia, establishing the Deloitte Corporate Advisory business there.
Adcock will provide a national resource
Private equity firms should go back to the future to deliver on investor demands for Alpha returns, according to Guy Hands.
Hands, Chairman and Chief Investment Officer of Terra Firma Capital Partners Limited, gave the keynote speech to a 500-strong audience at the Guernsey Funds Forum 2015 in London last week.
He said that the private equity industry is now split into two segments: the semi-public, listed companies such as Blackstone, Carlisle, CVC and Apax who represent about 85% of the money raised; and the remainder, which raises about 15% of the money but actually comprises the vast number of
A team led by Altium CEO Phil Adams together with Sam Fuller and Madeleine Jahr has advised the Singh Family Trusts on the GBP1.9 billion agreed sale of New Look to Brait.
Brait has acquired a 90 per cent stake in the business primarily from funds advised by Apax and Permira while the Singh Family Trusts and management will own the remaining 10 per cent of the business. Brait is a leading South African investment group which recently acquired Virgin Active.
Tom Singh founded the business in 1969 before floating it in 1998 and taking it private in 2004
The Pembani Remgro Infrastructure Fund has held a successful first closing at USD 245million. In addition, the fund has received a further commitment equal to 20 per cent of the fund size, capped at USD100 million, from the Overseas Private Investment Corporation (OPIC).
The formal fundraising process commenced in May 2014, with the aim of achieving final close during 2015 at a target fund size of USD500 million. Apart from initial seed capital commitments made by Remgro and Phuthuma Nhleko as cornerstone investors, the fund has been anchored by a significant investment from CDC Group plc and received commitments from
Enterprise Therapeutics, a drug discovery company focused on new therapeutics for respiratory diseases, has secured an additional GBP2.4m (USD3.6m) in Series-A financing.
The funds are comprised of GBP2m by new investor, Imperial Innovations and GBP0.4m increase by founding investor Epidarex Capital, bringing the total Series-A round to GBP4m. The proceeds will consolidate and accelerate the drug discovery and target identification programs initiated by Enterprise Therapeutics earlier in 2015. The company is based at the Sussex Innovation Centre, University of Sussex.
Enterprise Therapeutics’ focus is the discovery of novel disease modifying medications that target key drivers of respiratory
Venture capital firm Bessemer Venture Partners (BVP) has promoted Charles Birnbaum to vice president (VP) with respsonsibility for helping lead the firm’s New York office.
Birnbaum joined BVP in 2013. He is focused on investments in the financial services, education, Internet of things and consumer Internet sectors, and has helped lead Bessemer's investments in August Home, Quantopian, OMsignal, Abacus, BrightBytes and Main Street Hub. Currently, he represents BVP as a director at United Capital and is actively involved at August Home, Betterment, BrightBytes, Main Street Hub, OMsignal, Quantopian and Yodle.
“Charles has been a valuable member of the BVP team,
Private equity firm GTCR is to sell Protection 1, one of the largest providers of security alarm monitoring the the United States, to Apollo Global Management.
Protection 1 provides installation, maintenance and monitoring of security systems for residential, commercial and national accounts customers nationwide, and serves nearly two million customers, employing over 3,500 people in more than 70 office locations and five UL Certified monitoring centres across the country.
In executing the Leaders Strategy, GTCR partnered for a third time with security industry leader Tim Whall to acquire Protection 1 in 2010. Whall previously partnered with GTCR on successful investments
The total cumulative value of offshore M&A deals and IPOs remained robust in the first quarter of 2015, with the average size of each deal among the highest on record, according to a report released today by Appleby.
The latest edition of Offshore-i, an Appleby report that provides data and insight on corporate transaction activity in the major offshore financial centres, focuses on deals announced during the first quarter of 2015. While there was a significant drop in the number of transactions when compared to the previous quarter, total deal value remained level due in part to three megadeals each
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