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Large banks continue to eschew lower middle-market loans because of heightened regulatory scrutiny and unattractive risk-adjusted spreads as they concentrate on larger, more fertile customers, says Old Hill Partners.
The result is large banks and large companies have benefitted most from the post-crisis recovery, while small banks and small companies have not.
This trend is borne out by hard data, the commentary notes. According to the Federal Deposit Insurance Corporation, 42% of all active loans held by US banks originated from the five largest banks. Moreover, these loans are heavily concentrated: the six largest banks held 67% of loan
Abacus Group, LLC, a provider of hosted IT solutions for hedge funds and private equity funds, has launched the Abacus Cloud Panel
This web-based portal enhances the visibility and management of AbacusFLEX Mail for chief executive officers (CEOs) and chief technology officers (CTOs). The solution delivers on demand reporting and increased transparency, minimising infrastructure costs and enhancing control of deployment.
Abacus Cloud Panel is a hosted exchange control panel that allows business owners the freedom to provision resources directly from the web. It gives business owners the flexibility to create their own mailboxes, distribution groups and public folders
HIG Capital’s portfolio company Comverge is to merge with Constellation to form a new combined business, CPower, which will be headquartered in Baltimore, Md.
Power will operate as a new, standalone company independent from Comverge and Constellation, and deliver a full spectrum of demand response offerings to C&I customers across the United States. The combination creates one of the largest demand response companies in North America.
HIG holds a majority ownership interest in CPower, and Constellation holds a minority ownership interest and will remain an important business partner to CPower. Former Comverge Chief Financial Officer John Horton will serve as
IK Investment Partners (IK) via its IK VII Fund, has invested in Transnorm Beteiligungen, a provider of conveying modules and components are used in end markets such as the parcel, distribution/e-commerce and airports industries. Financial terms of the transaction are not disclosed.
Founded in 1957, Transnorm manufactures high performance conveying components that are integral to many highly sophisticated automated systems and generates sales of EUR 62 million in 2014. Historically best known for its belt curves, Transnorm’s various products are now used in many high-speed distribution systems, parcel centers and in airport baggage handling systems across the globe. The Transnorm
Mercer, subject to regulatory approvals, has entered into a definitive agreement to acquire SCM Strategic Capital Management AG, a Swiss-based specialist private markets advisor and delegated solutions provider.
The acquisition will further strengthen Mercer’s capabilities in alternative investments, an area of growing importance in the global institutional marketplace.
“Mercer’s Investment business has achieved excellent revenue growth and SCM gives us an opportunity to build upon our outstanding global reputation,” says Julio A Portalatin, President and Chief Executive Officer of Mercer. “We are prepared to invest in areas where we see an opportunity to anticipate client needs and to strengthen our
In an extract from the recent Preqin Special Report: Renewable Energy Infrastructure, Preqin provides an overview of the renewable energy industry.
The global transition from reliance on traditional to alternative energy sources is an important political and economic issue, and one that has a significant impact on the infrastructure asset class. In order to stem the effects of climate change, governments around the world have initiated plans to increase green energy investment. However, with public funding often struggling to cope with the high levels of capital needed, a growing number of private renewable energy-focused infrastructure funds have been launched in
Livingstone’s Business Services sector team is pleased to announce the sale of First Choice Facilities Limited, to Tyco International, the major US-based Fire and Security services provider, for an undisclosed amount.
With over 20 years’ experience, FCF maintains a wide range of integrated fire and security solutions, including fire and intruder alarm systems, sprinkler and gas suppression systems, access control and CCTV. The company operates across the UK and has more than 100 employees, including over 60 mobile, multi-disciplined engineers, to customers in all major industry sectors. FCF’ s Head Office is located in Isleworth, West London.
James Doran, Managing
BDCA Venture has completed the sale of its entire position in three portfolio companies resulting in total cash proceeds of USD16.7 million and net realised gains of USD6.4 million during the fourth quarter of 2014.
TrueCar, Inc. (Nasdaq: TRUE) common shares were sold in open market transactions following the expiration of post-IPO lockup restrictions on 12 November 12, 2014 for net proceeds of USD6.5 million, resulting in a realis
On 18 November, 2014, Xtime, Inc, a private portfolio company, completed an all-cash merger transaction with Cox Automotive, Inc. At the closing of the merger, BDCA Venture received USD9.7 million in
RLJ Equity Partners has acquired MarketCast, LLC, a provider of strategic insights and analysis to marketers and researchers in the global entertainment industry.
RLJ Equity Partners, in alliance with GE Asset Management, acquired MarketCast from Shamrock Capital Advisors, a leading media, communications, and entertainment private equity firm based in Los Angeles.
MarketCast works in collaboration with clients across the entertainment spectrum to test and optimise their content, marketing, and distribution strategies. The company maintains long-standing client relationships with all of the major motion picture studios and production companies, as well as a growing number of broadcast, cable, and OTT programmers
Phoenix Equity Partners (Phoenix), the UK mid-market private equity firm, is making an initial investment to support the future development of Just Childcare Limited (Just Childcare).
Phoenix is investing alongside the founders of Just Childcare, David and Jacqueline Johnson, having previously worked successfully with David Johnson when the Phoenix 2001 Fund invested in Acorn Care & Education. As a result of this long-term relationship, Phoenix invested in Just Childcare without a competitive bidding process.
Since its formation in 2004, Just Childcare has acquired six day nurseries, with a seventh opening shortly, all in the Northwest of England. Phoenix sees
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