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Baring Private Equity Asia has held the closing of The Baring Asia Private Equity Fund VI, a private equity fund with USUSD3,988,000,000 in commitments.
Fund VI, which reached its first close of USD3.3 billion last year within four months of launching, closed at its hard cap and was heavily oversubscribed. Baring Asia is one of the oldest and most established firms in the region and has been investing in Asia since 1997.
Fund VI will continue the firm’s strategy of partnering with management teams and entrepreneurs to support their growth in Asia through operational improvement, industry consolidation and cross-border
Private equity firm Thoma Bravo has acquired PowerPlan, a provider of accounting, tax and capital budgeting optimisation solutions for capital asset-intensive businesses, from current investors JMI Equity and TPG Growth.
Financial details of the deal have not been disclosed.
“PowerPlan has addressed the information gaps that develop between finance and field operations in asset-centric businesses, and established a market-leading software company that is critical to all of its customers’ operations,” says Scott Crabill, a managing partner at Thoma Bravo.
“It’s exciting to be able to put our software experience and buy and build philosophy to work for PowerPlan,” added Holden
Shore Capital Partners has completed the acquisition of Summit Medical a medical device manufacturer that has been designing, engineering and manufacturing microsurgery products for over 30 years.
In addition to its Instru-Safe instrument protection line for infection control and sterilisation in the critical care market, Summit Medical manufactures ear, nose, and throat (ENT) products and a variety of other surgical products.
A Fast 50 Honoree for 2014, Summit Medical has achieved significant growth over the last several years due to its leading position in the minimally-invasive instrument protection and ENT markets. Kevin McIntosh, President of Summit Medical, and Lorraine Duchene,
Blackstone Group’s Equity Healthcare has selected ConSova Corporation as the preferred dependent eligibility partner for its 40+ affiliated companies.
Through this agreement, ConSova joins forces with Equity Healthcare to offer a full range of health care cost containment solutions to the companies within the Blackstone Group’s global asset management portfolio as well as other affiliated private equity firms. Equity Healthcare’s companies will gain access to best-of-breed solutions for Dependent Eligibility Verification, Working Spouse Provision Audits and Ongoing Verification Services.
Equity Healthcare, a wholly owned subsidiary of The Blackstone Group, leverages the scale of the combined purchasing power of its portfolio
DMS Offshore Investment Services Ltd and White Oak Global Advisors have launched of an Alternative Investment Fund (AIF) hosted on the DMS Irish platform.
White Oak has engaged the DMS AIF platform, which is regulated by the Central Bank of Ireland as an AIFM in Ireland, and by the CSSF in Luxembourg, to access its European investors, taking advantage of the firm's established track record in fund governance and expertise in independent risk management in Europe.
Since the enactment of the Alternative Investment Fund Managers Directive (AIFMD) in 2013, DMS has developed this proprietary AIF Platform to provide investment managers
Hamburg-based shipping company Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft is to buy the container line operations of Chilean shipping line Compañía Chilena de Navegación Interoceánica (CCNI), Valparaiso.
The relevant contracts were signed last weekend. As part of the transaction, Hamburg Süd is also acquiring the agency business of Chilean firm Agunsa Agencias Universales S.A. (Agunsa), which is integral to the container line service.
The CCNI / Agunsa operations are scheduled to be transferred at the end of March 2015, subject to approval from the competition authorities.
A team from CMS in Germany led by Dr Christian von Lenthe (lead partner) and Dr Arne
Blackstone’s second energy-focused private equity fund Blackstone Energy Partners II has commenced its investment period with total commitments of USD4.5 billion.
BEP II received significant interest from both existing and new investors, with demand well surpassing the fund’s USD4.5 billion hard cap. Investors in the fund include a diverse group of US state pension funds, corporate pension funds, sovereign wealth funds, insurance companies, endowments, foundations and family offices.
Like its predecessor fund BEP I, a USD2.4 billion fund that had its final close in September 2012, BEP II will invest in control-oriented equity and equity-linked interests in companies, assets and
2014 was one of business angel syndicate Archangels’ most active years for investment in Scottish-based early stage and established technology and life sciences businesses and provided strong levels of returns for investors.
Archangels arranged funding of GBP12.2m for 14 companies, comprising GBP7.5m of investment from Archangels’ investors, with a further GBP3.5m of co-investment from Scottish Enterprise and GBP1.2m from other partners. Archangels’ annual gathering of investors and invested companies will hear that the biggest single investment was GBP2.5m in Scottish bionic prosthetic upper limb producer, Touch Bionics, in May last year.
In 2014, Archangels also invested GBP100,000 in Cytomos,
DriverUp, the first online marketplace for automotive financing, has launched giving accredited investors an opportunity to directly enter the USD379 billion auto lending industry.
DriverUp is the exclusive brand of Sierra Auto Finance, an auto finance company launched with USD50 million Series A financing, led by Emerald Development Managers and RRE Ventures.
The DriverUp platform uses technology to fundamentally improve how loans are secured and serviced by creating a direct-to-investor option that until now has not existed within the auto-lending industry. Through DriverUp's proprietary software and advanced data analytics, the marketplace enables efficient processing and direct investment in auto loans,
ProHatch, the alternative capital formation and advisory services platform, has added regulated securities issues to the platform, expanding their online marketplace to Accredited Investors and Issuers focused on financial investing in growth oriented businesses, real estate as well as nonprofit programs.
“We are differentiating ourselves in the burgeoning market of crowdfunding by offering a platform where contribution crowdfunding and regulated crowdfinance can work side by side,” says Elizabeth Smith Kulik, Senior Managing Partner. “Through the introduction of regulated issues on ProHatch, Sponsors and Accredited Investors can now come together to pool their interests and collectively participate in ProHatch’s marketplace of
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