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Crestline-Kirchner has replaced Medley Capital as the investment manager of Medley Opportunity Fund Ltd. and Medley Opportunity Fund (MOF I Funds).
In conjunction with the transition, the MOF I Funds have been renamed CK Pearl Fund Ltd and CK Pearl Fund LP, respectively. Following consultation with fund investors, the offshore fund's board of directors and Medley, the foregoing selected Crestline-Kirchner as the replacement investment manager for the MOF I Funds.
Crestline-Kirchner is a specialty investment firm that employs a proprietary "Successor GP" model to deliver human and financial resources to alternative investment funds that are typically at the end
Center Coast MLP & Infrastructure Fund (CEN) has agreed to invest up to USD40.0 million, through a limited partnership, in a new midstream gas gathering, processing, and transportation platform.
The platform is being created by a leading midstream company and a financial sponsor to build out midstream infrastructure to support a leading producer's development of a natural gas-focused resource play in North America. The transaction is expected to close in the first quarter of 2015 and is subject to customary closing conditions.
This transaction will represent the first private investment made by CEN, which may allocate up to 20%
Araxid Prime has closed a USD12.5 million Series A funding round led jointly by Bessemer Venture Partners (BVP) and Columbia Capital (ColCap).
The funds will be used to extend technology that is currently being used by leaders in healthcare and the public sector, and apply it to other industries such as retail, telecom and financial services.
Araxid offers a next-generation SaaS-based technology for resolving linking, and privatising disparate identities stored in one or more databases – whether customers, partners or employees. It can be implemented as a standalone solution or it can be plugged into existing, on-premises Master Data Management
NXT Capital has held the closing of the NXT Capital Senior Loan Fund III, a leveraged loan fund that will invest in first and second lien loan transactions originated and underwritten by NXT Capital’s Corporate Finance Group.
Transactions include term, delayed draw term, revolving credit, stretch senior, unitranche, first lien term behind revolver, split lien and last-out term loans made primarily to private equity-sponsored middle market companies across a wide range of industries.
The addition of Senior Loan Fund III increases the third-party capital committed to the Corporate Finance Group’s asset management business to over USD4 billion. The fund received
KKR is to lead a USD35 million growth equity investment in ClickTale, a Digital Customer Experience (DCX) SaaS company based in Tel Aviv, Israel.
KKR will support ClickTale’s global expansion with primary capital and access to its network of tech experts and affiliated companies. Amadeus Capital Partners, a leading UK-headquartered venture capital firm, Viola Credit and other existing investors also participated in this round.
ClickTale enables businesses to maximise revenues by optimising the way visitors interact with their websites – whether from desktop, tablet or smartphone. ClickTale’s software records visitors’ in-page activity and produces highly actionable visual insights, including heatmaps,
Conifer Financial Services, a provider of fund administration, middle office, trade execution, and prime brokerage services to the asset management industry, has received an unqualified opinion in the Service Organisation Controls (SOC) 1 TYPE 2 (SSAE 16) 2014 examination of its fund administration entity, Conifer Asset Solutions.
Notable among the reports is the laudable lack of exceptions achieved by the business sector pertaining to Fund Services and Middle Back Office.
The SOC 1 Type 2 examination was conducted in accordance with the American Institute of Certified Public Accountants (AICPA) Statement on Standards for Attestation Engagements No. 16 (SSAE 16) and
Coming off of a strong year for private equity in 2014, industry leaders are tempering their outlook for 2015, according to the sixth annual PErspective Private Equity Study by BDO USA.
While 41 per cent of private equity fund managers report closing more than five deals in 2014, only 8 per cent expect to do so during the next 12 months. Instead, the vast majority (87 per cent) of private equity sponsors expect to close between one and five deals in 2015, with the largest percentage (30 per cent) of fund managers predicting they will close only two new deals
Private equity firm Lonsdale Capital Partners has appointed James Knott as Investment Director.
Knott’s responsibilities will include implementing deals, sourcing new opportunities, building on new and existing advisor relations and working with portfolio companies; which currently include investments in oil and gas, plastics and packaging, financial services and publishing.
Knott joins Lonsdale with a depth of experience in investment management and deal making. Prior to joining he was an Investment Manager at Risk Capital Partners where he took the lead on servicing and executing transactions and worked closely with portfolio companies. He has also previously held positions at PwC and
Ropes & Gray partner Michelle Moran has been appointed an Officer of the International Bar Association’s Investment Funds Committee.
Moran, a partner in the London office’s investment management practice, joined Ropes & Gray in August 2013 from Dechert LLP. She focuses on advising European and US clients on the establishment, authorisation and management of all types of retail and institutional investment funds domiciled in the UK, Ireland, Luxembourg and Jersey including UCITS, ICVCs, investment trusts, hedge funds, real estate funds and segregated institutional portfolios.
Established in 1947, the International Bar Association is the world’s leading organisation of legal practitioners, bar
Private equity-backed independent video game development studio, Sumo Digital, has appointed Ken Beaty (pictured) as Chairman.
Sumo Digital recently completed an MBO with investment from private equity firm NorthEdge Capital and successfully launched LittleBigPlanet 3 for Sony Computer Entertainment Europe.
During a 20-year career in private equity, Beaty has held a number of high profile board positions, including Non-Executive Director at fashion brand Hobbs and Chairman at Planet X, the high-performance cycling brand.
Founded in 2003, Sumo is headquartered in Sheffield with an office in Pune, India, and employs more than 240 people. Sumo partners with top tier
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