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The total value of exits from private equity-backed portfolio companies throughout 2014 hit USD428bn, higher than any year previously and up from the USD330bn of exits in 2013. Christopher Elvin, Preqin’s Head of Private Equity Products, comments on the current deals and exits environment:
2014 represented the highest ever annual value of private equity-backed buyout exits. This has resulted in a significant increase in the level of capital being returned to buyout fund investors, which had almost surpassed the full-year 2013 amount as of June 2014 (the latest data available). Furthermore, the total value of private equity backed buyout deals
Verne Global has secured USD98m of equity funding, led by Stefnir, an Icelandic asset management and private equity firm that is working with several of the largest Icelandic pension funds.
Existing investors – the Wellcome Trust, Novator Partners and General Catalyst – also participated in the round.
Verne Global will use the funds to further expand its wholesale and colocation service offerings, as well as to design and develop high-density, flexible resiliency data centre space. This investment round ensures that Verne Global can deliver the infrastructure capacity to serve the rapid growth in demand it is seeing from new and
Persistence Capital Partners (PCP) has made a significant equity investment in Canada and Australia's leading provider of online continuing health education, mdBriefCase Group.
Founded in 2001, mdBriefCase provides continuing health and medical education programs for pharmacists, nurses, family physicians, specialists and patients. Providing free, multimedia interactive learning programs, mdBriefCase is a primary source of accredited continuing education for thousands of healthcare professionals. Its high quality programs are accredited by mdBriefCase's leading medical institutional and organisational partners. Headquartered in Toronto, Canada with significant operations in Sydney, Australia, mdBriefCase has a team of over 40 employees.
John Trang, Principal at PCP, a
Private equity funds manager TPH Partners has partnered with Clark and David Nicklas to form Laurel Mountain Energy, an independent upstream company headquartered in Pittsburgh, Pennsylvania.
Laurel Mountain is focused on the acquisition and development of oil and gas properties across the Appalachian Basin, with a primary focus on the Marcellus, Upper Devonian and Utica formations in Western Pennsylvania.
Laurel Mountain is led by Clark Nicklas (CEO) and David Nicklas (President), a father-son team that has worked closely together for eleven years at Vista Resources, a well-established, independent oil and gas company that was founded by Clark Nicklas in 1987.
Bespoke Capital Partners has made an investment in Nomacorc, a manufacturer of synthetic wine closures.
Bespoke partnered with the Founder and Chairman of Nomacorc, Marc Noël, to recapitalise the business and buy out Summit Partners resulting in the partnership owning the entirety of the Company. Noël is currently the Chairman of Noël Group, a global leader in the transformation of synthetic materials. This investment provides the foundation and resources for Nomacorc to build upon its global leadership position. It will accelerate its industry-leading efforts in research and development for closures and oxygen management solutions to drive global growth as well
Bob Lefton and Bob Zollars have joined Frazier Healthcare’s Growth Buyout team.
Zollars joins as an Operating Partner and Lefton joins as a Senior Advisor. Both will assist the Growth Buyout team at Frazier with identifying, evaluating, acquiring and advising its healthcare services companies.
Lefton is Co-Founder, Executive Chairman and a Director of DSI Renal. Frazier Healthcare is a founding investor and a primary shareholder of DSI Renal. Prior to DSI, Lefton served as President, Chief Executive Officer and Director of Odyssey Healthcare Inc. (NASDAQ:ODSY), the largest publicly-traded hospice services provider, from October 2005 until August 2010. Odyssey was sold
Seafort Advisors GmbH and ThyssenKrupp have signed an agreement on the sale of the Emder Werft und Dockbetriebe shipyard in Emden.
Completion of the deal is subject to the necessary permits and approvals and is scheduled for the first quarter of 2015.
A team led by lead partner Dr Tobias Schneider advised Seafort Advisors on all aspects of the transaction. CMS also provided Seafort Advisors with comprehensive advice in 2013, when the Hamburg-based independent private equity firm acquired three companies, and has subsequently advised on several add-on acquisitions. Seafort Advisors has a medium to long-term investment horizon. The private equity
Ares Management has completed its acquisition of Energy Investors Funds (EIF), an asset manager with approximately USD4 billion of assets under management across four commingled funds and related co-investment vehicles.
The transaction closed on 1 January, 2015, and is expected to be accretive to Ares.
“The EIF transaction provides Ares an entry into the large and growing energy infrastructure industry and attractive investment opportunities where we can leverage our existing core competencies to bring differentiated investment results,” says Michael Arougheti, Co-Founder and President of Ares. “EIF represents exactly what we look for in pursuing accretive, strategically valuable acquisitions. The team
Virtus Partners has acquired the business and assets of Trade Settlement, Inc (TSI), a New York-based primary and secondary loan trading settlement and documentation service provider.
“We are excited about the opportunities this acquisition provides to our clients and the ever-evolving loan market,” says Kelly Faykus, Co-Founder and Managing Partner of Virtus. “The combination of Virtus’ expansive database of loan market information and TSI’s strong settlement capabilities will create substantial opportunities to reduce trade settlement times while providing more robust management reporting and a framework to enhance market liquidity.”
Virtus provides a comprehensive, integrated suite of front, middle, and back
Law firm Cadwalader, Wickersham & Taft has appointed a team of three partners and four counsel to its Greater China practice, based in Hong Kong.
Led by partner Michael Liu, who has 30 years of experience advising on a range of corporate transactions in Hong Kong and London, the team is one of the most experienced in the Hong Kong legal market. With long standing and in-depth experience advising Hong Kong, PRC and international corporations, as well as financial advisors and investment banks on a wide range of corporate and regulatory matters, the team also includes partners Jane M S
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