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M&G Investments has provided GBP4.9 billion of private financing to corporates and institutions in the past 12 months, as pension funds and institutional investors continue to seek the secure, and often inflation-linked, cash flows these investments provide.
Across the private finance spectrum, a desire by corporates and institutions to diversify their funding sources has been a driving force behind decisions to refinance and seek additional funding from different sources this year.
Mark Hutchinson, co-head of alternative credit, M&G Investments, says: “Investments are now being made in a variety of structures. Whether it is the realisation of operating assets’ value
Ben Rothberg and Christoph Steffan have joined Tikehau Capital group in London as credit analysts, effective 1 December.
Rothberg joins from Credit Industriel et Commerical (CIC), where he worked in the Acquisition Finance team and brings over 5 years’ corporate lending experience to the Tikehau credit team.
Steffan joins from Morgan Stanley, where he worked in the credit lending department and brings 4 years’ experience to the Tikehau credit team.
Both analysts report into Rodolfo Caceres, Head of Credit Research and will primarily cover leveraged loans from the London office.
These hires are part of Tikehau’s strategy to expand
Recent regulation has done little or nothing to improve stability in the financial services industry, according to a survey of nearly 300 professionals commissioned by global professionals services firm Kinetic Partners.
The results of the poll show that 47% of respondents – and 48% of C-suite executives – believe recent regulation has had little or no impact on financial stability, with 11% stating that regulation has made the financial services world less stable.
The survey for Kinetic Partners’ 2015 Global Regulatory Outlook report also found that, six years on from the financial crisis of 2008, just 2% of senior
Orliman, owned by The Riverside Company, has acquired the French orthopedic company Soft Medical Europe (SM Europe).
SM Europe designs and distributes non-invasive braces and supports in France. The company’s broad portfolio of 120 high quality and value-oriented products are sold under its own brands Ortheis, KidOrtho and FeetPad, and the Ezy Wrap brand, under an exclusive distribution agreement with a US manufacturer. SM Europe principally sells through pharmacies, but also offers products in orthopedic shops and medical facilities.
SM Europe will be incorporated into Orliman, Riverside’s existing orthopedic company, headquartered in Valencia, Spain. The two companies complement each other
PetSmart is to be acquired by a consortium led by BC Partners, Inc at a price of USD83.00 per share in cash, representing a premium of approximately 39% over PetSmart’s unaffected closing share price on 2 July, 2014.
The consortium includes Funds advised by BC Partners (BC Funds), alongside several of its limited partners, including La Caisse de dépôt et placement du Québec (La Caisse) and StepStone. Longview Asset Management, which owns or manages approximately 9% of PetSmart’s outstanding shares has committed to vote in favour of the transaction. Longview will participate in the consortium only with respect to approximately
Civitas Capital Group has appointed David Perel to the newly created position of President and Chief Investment Officer (CIO).
Perel, who was previously a Managing Director of Civitas Alternative Investments and President of Juno Development (both Civitas affiliates), will oversee the general management of the firm and its operating divisions.
Perel will continue to serve on Civitas' executive and investment committees, and will report to Daniel J Healy, Chief Executive Officer. He will also continue to be involved in the development and financing of lodging investments for the firm.
"David has been a valuable member of our team at Civitas
Kuwait Pipe Industries and Oil Services Company (Kuwait Pipes) has signed a settlement term sheet for the commercial debt of around KWD130mn with its participating commercial lenders to bring a comprehensive and permanent solution to the Company’s capital structure.
The settlement term sheet was signed by Abdulkareem Abdullah Al-Mutawa, Board Member and Head of Re-Structuring Committee of Kuwait Pipes, and representatives from five of the Commercial lenders. The signing took place at Global Tower and was attended by Mrs. Maha Al-Ghunaim, Vice Chairman & Group CEO of Global Investment House (Global), the financial advisor to Kuwait Pipes, and representatives from
Stephen Gillespie is to join Gibson, Dunn & Crutcher as a partner in the London office. Formerly a senior partner in the European debt finance practice in Kirkland & Ellis International’s London office, he will continue his European leveraged and acquisition finance practice at Gibson Dunn.
“We are delighted to have Stephen on board,” says Ken Doran, Chairman and Managing Partner of Gibson Dunn. “Building a top quality English law transactional practice is a strategic priority for the firm, and Stephen’s addition is an essential component to attaining that goal. Stephen is a recognised leader in European leveraged and acquisition
Private investment firm Inverness Graham has sold RacoWireless to strategic acquirer KORE Wireless Group, Inc, in an all-cash transaction.
Headquartered in Cincinnati, Ohio, RacoWireless is a leading enabler of the Internet-of-Things and machine-to-machine (M2M) wireless data connectivity solutions offering end-to-end connectivity and location aware solutions to more than 500 reselling customers. During Inverness Graham's two-years of ownership, RacoWireless executed an organic and acquisitive growth strategy that more than doubled revenue and increased EBITDA by over five times.
Inverness Graham acquired RacoWireless in a proprietary, "non-banked", transaction in September of 2012 as a result of a proactive search effort within the
Ranger Aerospace has added Argosy Private Equity to its newest platform for pursuing investments and acquisitions in the aerospace industry.
The lead institutional investor in Ranger's latest venture is Azalea Capital. This group seeks accelerated growth in acquired companies through a collaborative partnership with proven management teams. This marks the third time that Ranger and Argosy have affiliated in the past dozen years. Argosy was a major investor in Ranger's previous successes with both Keystone Helicopter and Ranger International.
The teammates have formed a new holding company called Ranger AeroSystems for these pursuits, and the first new investment was accomplished
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