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Berkshire Partners has appointed Dave Bordeau, Marni Payne and Raleigh Shoemaker as Managing Directors effective 1 January, 2015.
They join the 19 current Managing Directors of Berkshire in managing the firm and its affiliated investment funds. Berkshire’s 22 Managing Directors have an average tenure of over 16 years with the firm.
Bordeau joined Berkshire Partners in 2006 and has significant experience with Berkshire’s consumer products, retail and business services companies. Prior to joining Berkshire, Bordeau worked in private equity and investment banking, holding positions with Ripplewood Holdings and Gleacher Partners. He received an AB from Princeton University and an MBA
Private equity house Key Capital Partners (KCP) has exited its investment in Nurse Plus to a secondary MBO funded by Sovereign Capital (Sovereign) and led by Nurse Plus CEO Heath Blake and MD Pamela Bruce.
The transaction gives KCP an attractive return on its original investment and represents the firm's third successful exit in 2014 following on from its sales of TSC Foods and Neville Johnson earlier in the year.
Established in 2005, Nurse Plus is a healthcare services provider, specialising in domiciliary care services and providing flexible staffing solutions for care homes and hospitals.
Under KCP ownership
One of the inherent risks to investing in hedge funds is the inherent volatility of performance. A top fund today might be the worst tomorrow. In Preqin’s latest November Hedge Fund Spotlight report, which looks at this year’s top 100 performing hedge funds, only three funds feature on the list from 2013.
To qualify, only those funds with USD100m or more in AuM were considered. The sample period was October 2013 through September 2014.
What is clear from the list is that the top performing funds over the past 12 months are more volatile. Whereas year-on-year only three funds made
Onex Corporation has completed its investment in Advanced Integration Technology (AIT), a provider of automation and tooling, maintenance services and aircraft components to the aerospace industry.
This is the first investment for Onex Partners IV, the private equity firm’s USD5.15 billion flagship fund raised in May 2014.
Onex currently has approximately USD20 billion of assets under management, including USD5.9 billion of its own capital, in private equity and credit securities. Onex invests its capital directly and as the largest limited partner in each of its funds.
International law firm Simmons & Simmons has promoted Matthew Pitman to its partnership with effect from 01 January 2015.
Pitman is based in the firm’s London office and is an investment funds specialist focusing on all classes of private funds.
His practice covers a wide range of transactional and investment work, including fund formation (for both liquid and illiquid assets), indirect investments, advising on investment management issues, joint ventures and managed accounts.
Simmons & Simmons’ Senior Partner Colin Passmore, says: ‘‘Matt’s promotion recognises his strong contribution to our award-winning asset management and investment funds practice and comes at
KKR has sold its remaining stake in Alliance Boots to Walgreens Boots Alliance following the exercise by Walgreens of the call option to acquire the remaining 55% of Alliance Boots as the second step of the overall transaction.
In August 2012, Walgreens acquired 45% of Alliance Boots in the first step of the overall transaction.
Dominic Murphy, Member, Head of KKR operations in the United Kingdom says: “The investment in Alliance Boots adds to our track record of partnering with European entrepreneurs to build global companies and industry leaders. Since Alliance Boots was taken private in 2007, a strong investment
Independent accounting firm Weaver has held the official opening of the firm's newest office, located in the greater Los Angeles area.
The new Weaver office is at 1600 Rosecrans Ave, Bldg 7 in Manhattan Beach, California adjacent to several sound stages and movie studios on the secure MBS Media Campus.
Michael Hearne, CPA, has joined Weaver as a partner in tax and strategic business services for the new office. Hearne and Matt Anderson, assurance partner, will work together to grow Weaver's Los Angeles practice with particular focus in the financial services industry. The partners previously worked together on the expansion of Rothstein
Private equity investment firm Pamplona Capital Management is to acquire Charter NEX Films, subject to customary conditions, including expiration of the waiting period under the Hart-Scott-Rodino Act.
The transaction is expected to be completed during the first quarter of 2015.
Charter NEX Films is a leading independent producer of high performance polyethylene films. It holds a leading position within flexible food and consumer product packaging, and strong, growing positions in medical, pharmaceutical and industrial surface protection segments. The Company is benefiting from very strong growth in its key product categories, such as stand-up pouches, and is a valued partner for
Affiliated Managers Group has completed its additional investment in AQR Capital Management, a global investment manager, founded in 1998, with approximately USD115 billion in assets as of 30 September, 2014 across a diverse set of alternative and traditional investment strategies.
AQR has a long track record of innovation in developing systematic investment strategies based on fundamental economic concepts for institutional investors and financial advisors. The firm has 21 Principals and over 450 employees in offices around the world including Greenwich, Chicago, London, Sydney and Bermuda.
AMG continues to hold a minority interest in the partnership and will continue to account for AQR as
Dynavax Technologies Corporation has entered into a credit facility with Hercules Technology Growth Capital for up to USD40 million of total funding.
Dynavax drew the first tranche of USD10 million on closing and has access to an additional USD30 million in 2015, at Dynavax's option, if it achieves certain milestones relating to the ongoing Phase 3 study of HEPLISAV-B (HBV-23).
"This credit facility provides us access to up to USD40 million of non-dilutive funding that can be used to support development and pre-commercialization activities for HEPLISAV-B, clinical trials of our cancer immunotherapeutic product candidate, SD-101, and advancement of our research
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