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An affiliate of Versa Capital Management has completed the previously announced acquisition of the business of The Wet Seal, a specialist in young women’s fast fashion retailing through mall stores and e-commerce.
The transaction was approved by the United States Bankruptcy Court for the District of Delaware on 1 April, 2015.
The new company, known as The Wet Seal will maintain its headquarters in Foothill Ranch, California and continue operating its 173 stores and growing its online platform. The company’s operations will be supported by a new USD15 million senior credit facility provided by Crystal Financial.
Wet Seal’s
Constellation has acquired a majority stake in Trans Europa Express Holding AG (TEX), formerly HSM Group), a provider of Train Operating Services in Western Europe.
TEX serves as an outsourcing partner for its customers for which the company runs rail traffic and operates in Germany, Switzerland, Austria (DACH) and the Netherlands employing 900 people.
Among TEX`s customers are all major private and national passenger and rail cargo companies in the DACH region and the Netherlands. With its own train driver school, the company provides training for qualified railway personnel. Further, TEX provides safety and supervision services for rail track
Linklaters has advised Brait, the South African listed private equity group, on its acquisition of an 80 per cent stake in Virgin Active, the leading international health club operator, from CVC and Virgin. The deal values Virgin Active at GBP1.3bn.
Virgin Group will retain a 20% stake, excluding management. The existing management team will be retained and will be reinvesting alongside Brait. The implementation of the deal is subject to approval by the South African and Namibian competition authorities.
The Linklaters team, which also advised on the tax structuring of the deal, was led by private equity partners Alex Woodward and
Victory Park Capital (VPC) is to make a USD50 million investment, with a USD100 million potential upsize, in Renovo Financial, a Chicago-based private lending company that assists rehabilitation investors in acquiring, renovating and selling/renting residential properties.
The investment will refinance Renovo’s existing portfolio, finance loan portfolio growth and support expansion into new markets outside of the Chicagoland counties.
“Renovo’s market leadership in the Chicagoland area, experienced management team and industry knowledge are exceptional,” says Tom Affolter, partner at VPC. “We believe this is an opportunistic time to partner with Renovo to help provide loans in the underserved residential rehab
Evereve, the fashion retailer formerly known as Hot Mama, has secured an investment from Winona Capital, the Lewis Family, and Prairie Management Group. Evereve will utilise the new partnership to fuel its growth nationwide.
“Winona is proud to partner with Evereve,” says Jason Sowers, a Principal at Winona Capital. “Founders Mike and Megan Tamte have created a unique, innovate retail concept that celebrates the fashion conscious mom. With 52 stores nationwide, the company will focus on expanding Evereve and positively impacting the lives of our employees and customers from coast-to-coast.”
Megan and Michael Tamte have assembled a team of over
Global venture capital firm New Enterprise Associates has closed its fifteenth fund with USD2.8 billion in committed capital to its core fund, as well as an additional USD350 million for its NEA 15 Opportunity Fund.
With commitments totalling more than USD3.1 billion, this fundraising brings the firm's cumulative committed capital since inception to nearly USD17 billion.
"Like our industry, much has changed since NEA's founding nearly 40 years ago," says Peter Barris, Managing General Partner. "We have grown from a trio of founders with a USD16 million fund to more than two dozen partners deploying multi-billion-dollar funds across five continents.
Private equity fund of funds Asia Alternatives has held the final close of over USD1.8 billion in new commitments for Asia Alternatives Capital Partners IV (AACP IV) and its related fund vehicles (Fund IV).
"We are extremely grateful that a significant number of our original limited partners continue to support us and we are pleased to have added a number of highly respected and well-recognised new investors in Fund IV," says Melissa Ma, Co-Founder and Managing Director of Asia Alternatives.
The largest of the Funds is Asia Alternatives Capital Partners IV, LP which, along with its sleeve fund focused on
Independent alternative asset investment advisory firm MVision has made three senior appointments in the firm’s New York office.
Kay Blackwell and Erica Johnson have joined as Managing Directors and William Riedlinger as Director, significantly strengthening the firm’s capabilities in the USA and globally.
Blackwell joins from Citi Private Bank, where she spent over nine years in both New York and London, responsible for global private equity, real estate and private debt product management. At MVision, she will manage global fundraising efforts for the firm’s clients and work with GPs and investors globally.
Blackwell says: “I am delighted to
Cordium, a provider of compliance consulting, accounting, tax and software to the financial services industry, has launched Pilot, its latest compliance software solution.
Pilot, a first of its kind cloud-based corporate workflow management tool, is designed to manage complex compliance and operational tasks from start to finish. Pilot was created to help compliance professionals manage their workload and keep track of the ever-changing and convoluted global regulatory environment existing today.
Pilot is centred around an interactive compliance calendar that allows firms to build and organize their day-to-day compliance and monitoring tasks into a scalable, dynamic environment where they
Technology is now developing so fast that it is creating disruption across all sectors of the economy and businesses which fail to keep up with the latest developments face being wiped out by smarter rivals.
That will be the message at next week’s Entrepreneurial Spark event, a day of Tech Talks organised by the free business accelerator. Entrepreneurial Spark is aiming to help its fledgling firms embrace the latest technology and use it as an opportunity to displace larger rivals. It has lined up a range of speakers who will address budding entrepreneurs and “chiclets” at its “hatcheries” across the
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