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Institutional investors will be targeting alternative investments over the next two years, with infrastructure assets generating the greatest interest, according to the latest issue of The Cerulli Edge-Global Edition.
Of the 56 European institutions surveyed by global analytics firm Cerulli Associates, in partnership with Institutional Investor, 53% plan to increase their exposure to infrastructure over the next 12 to 24 months.
"Real estate, hedge funds, and private equity can also expect near-term inflows, with net 36%, 21%, and 13% respectively of investors due to boost allocations," says Barbara Wall, Europe research director at Cerulli. "Over the next five years, this
The California Public Employees' Retirement System (CalPERS) has committed USD75 million to private equity firm Siris Partners.
This is the first direct commitment to Siris, which has previously received commitments from CalPERS through the System's emerging manager fund-of-funds.
"CalPERS is committed to emerging manager strategies," says Ted Eliopoulos, CalPERS Chief Investment Officer. "The transition from a fund-of-funds relationship to a direct relationship with CalPERS is the outcome we hope to see with our emerging manager programs."
Siris will use the commitment to make private equity investments in middle-market technology companies in North America, with a focus on data storage and
Herbert Smith Freehills has advised Denmark's Copenhagen Infrastructure Partners on a GBP160 million investment in the acquisition and development of the UK’s Brite biomass-fired power plant.
The investment is on on behalf of the Copenhagen Infrastructure II fund (CII), a Danish private equity fund dedicated to energy and infrastructure assets with DKK8 billion (EUR1,05 billion) to invest at present. The fund is open for additional commitments until end of Q1 2015 and is expected to reach a total commitment of DKK10-12bn/EUR 1.3-1.6bn.
Located in Rotherham and expected to be in operation in the spring of 2017, the Brite plant
Ogier has advised Cinven on its acquisition of Premium Credit Limited for an enterprise value of GBP462 million.
Premium Credit Limited is a UK specialty finance provider which provides financing for insurance premiums and a variety of annual fees, including school fees and membership subscriptions. It has 2 million customers, works with 4,000 intermediaries and achieved advances of £3.7 billion in 2013.
The acquisition of Premium Credit Limited is the eleventh investment by the Fifth Cinven Fund.
The Ogier legal team consisted of partner Nathan Powell, managing associate Richard Daggett and associates Alexandra O’Grady and Amy Galley, who worked alongside
UK crowdfunding platform VentureFounders is calling on Chancellor George Osborne to give further assistance to entrepreneurs by helping people invest in UK businesses through the Seed Enterprise Investment Scheme (SEIS) and the Enterprise Investment Scheme (EIS).
James Codling and Paul Moravek, Co-Founders of VentureFounders, say: “As one of the top four entrepreneurial countries in the world, George Osborne needs to show commitment to maintaining Government support to UK businesses and entrepreneurs. We think there are two ways in which he can encourage high net worth individuals to invest in entrepreneurial UK businesses through the existing SEIS and EIS schemes.
“Firstly,
Webgility, a provider of e-commerce accounting integration software for small and medium-sized businesses, has raised USD2.5 million in growth funding from SaaS Capital.
Webgility will use the funds to increase headcount, ramp up product development, and expand into new vertical markets.
“This funding from SaaS Capital will be instrumental as we continue to build momentum,” says Parag Mamnani, Founder and CEO of Webgility. “This is our first institutional investment and although we received several outside funding offers, we knew SaaS Capital was the best fit for us at this stage. Working with SaaS Capital we’re able to avoid both the strict
Funds managed by KKR are to acquire Air Medical from affiliates of Bain Capital and Brockway Moran & Partners. Financial terms of the transaction have not been disclosed.
Air Medical provides emergency transportation services to individuals with critical health issues or injuries who are located too far from hospitals to be transported by ground in a timely manner. Air Medical’s subsidiaries transport more than 75,000 critically injured patients each year through a fleet of helicopters and airplanes that operate 24 hours a day and seven days a week. In addition Air Medical provides over 120,000 ground transports on an annual
Returns on US private equity and venture capital funds remained positive in the quarter ending 30 September, 2014, though both were down from their second-quarter results.
Venture capital, benefitting from a healthy IPO market, outperformed private equity in the third quarter, while both outpaced key public market indices, according to benchmarks published by Cambridge Associates LLC tracking these alternative asset classes.
The Cambridge Associates LLC US Private Equity Index® rose 1.7% in Q3 and 10.2% year-to-date (YTD). Over the same periods, the Cambridge Associates LLC US Venture Capital Index® climbed 2.4% and 10.8%. For comparison, the S&P 500 was up
HIG Europe (HIG), the European arm of global private equity firm HIG Capital, has acquired Adelie Foods, a provider to retailers including Sainsbury’s and Boots, as well as several UK coffee shop chains.
The company has built a reputation as a provider of fresh sandwich products to supermarkets, coffee shops and the food service sector and prides itself on its in-house distribution of up to a million fresh sandwiches every day around the UK. Adelie is also behind the popular sandwich brand URBAN eat. The group expects to reach nearly GBP300m turnover in the current financial year.
Adelie was
SpareFoot, the largest US marketplace for finding and booking self-storage, has closed a USD33 million investment to accelerate its growth.
SpareFoot has used a proven marketplace model to bring technology to a traditional, multibillion-dollar industry, and has become to storage what OpenTable is to restaurants, Booking.com is to travel and Zillow is to home buying. New investor Revolution Growth led the round, with participation from existing investor Insight Venture Partners and new investor Monkfish Equity. In conjunction with the financing, Scott Hilleboe, partner at Revolution Growth, and entrepreneur Rony Kahan, co-founder and chairman of job search engine Indeed, will join
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