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French private equity investments rebounded sharply during the first half of 2014 in terms of total value as well as the number of companies supported, according to statistics released by the AFIC and Grant Thornton.
Some EUR3.6bn was invested (+39 per cent / H1 2013) in 895 companies (+17 per cent / H1 2013, +8 per cent / average for 2006-2013). More than half of total amounts invested were devoted to new companies (EUR1.9bn). Eighty five per cent of companies receiving investments are headquartered in France (EUR2.9bn).
Growth capital registered very strong growth and reached a historic high for
Varonis Systems is to supply Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, with a platform to monitor, manage and capture unstructured data in the Abacus private cloud.
Through this new relationship Abacus clients will have access to enhanced reporting capabilities and greater visibility into their IT infrastructure as required by global regulators and investors.
Changes in regulatory compliance are driving a demand in the financial markets for better reporting and oversight. The Securities and Exchange Commission’s (SEC’s) Office of Compliance Inspections and Examinations (OCIE) has recently issued a Risk Alert on
Wynnchurch Capital has closed its fourth private equity fund, Wynnchurch Capital Partners IV, with USD1.2 billion of limited partner commitments.
The fund, which had a target of USD900 million, was oversubscribed, resulting in the fund reaching its hard cap closing relatively quickly after its initial launch in September 2014.
“We are delighted with the level of support from our existing investors and welcome a select group of new investors,” says John Hatherly, managing partner of Wynnchurch. “The successful fundraise represents a strong endorsement of our team, our track record, and our value oriented investment approach.”
Wynnchurch has been
Law firm Howard Kennedy has advised 31 venture capital trusts (VCTs) in the past seven months.
The firm’s VCT team has advised on 20 completed offers, with a further 11 offers ongoing, with a combined market value of GBP443m. The firm has advised 14 VCTs as both sponsor and legal adviser, and 17 as sponsor only.
Keith Lassman, partner and head of capital markets at Howard Kennedy, says: “For the past 17 years we have led the market advising VCTs. This year we have advised on 31 of the 37 VCTs to come to market. As the only English law
Albion Ventures has sold Tower Bridge Health and Fitness Club to Encore Capital, delivering a total return of 2.8 times the amount invested and an IRR of 25 per cent.
Tower Bridge Health and Fitness Club is a premium club located at the More London estate near Tower Bridge, overlooking the River Thames. It has a 20 metre swimming pool, sauna, steam room, several studios, a beauty spa and a state-of-the-art gym. The club has been operating for nine years.
Albion first invested in Tower Bridge Health and Fitness Club in 2005 alongside London Health and Fitness to finance the
Cloud Equity Group, an investment management company focused on opportunistic acquisitions of web service providers, has acquired Just199 Hosting, a budget web hosting provider based in South Carolina.
Just199 Hosting, which operates under Just199.com, was founded in 2006 by Dave Wykofka with the goal of providing easy-to-use budget hosting services for the masses. Over time, the company diversified its product offerings to include shared hosting, reseller hosting, virtual private servers, paid forum hosting, and remote support.
Cloud Equity Group will integrate Just199 Hosting into its consolidated portfolio to deliver a premium budget hosting service to both novice and advanced
A majority of PENSCO clients would invest more in non-traded, alternative assets if they had a better understanding of the alternatives available (71 per cent) and more accessibility to non-traded alternatives (70 per cent).
The finding is based on a study of 682 clients who have custody retirement assets in a self-directed Individual Retirement Account (IRA) with PENSCO. In a self-directed IRA, the IRA owner has more control and flexibility when it comes to choosing investments and can expand their asset allocation beyond stocks and bonds to include non-traded alternative assets.
The study also found that individuals consider the
On 1 October the UK's Financial Conduct Authority (FCA) clarified its position that US managers with master-feeder structures would not be required to report on positions held in the master if only the feeder was marketed into the UK.
For many firms that have been deliberating over whether to actively market their funds in the UK or simply rely on reverse solicitation for new investors, this new guidance is very significant. In light of this development, ConceptOne believes US managers should revisit their strategy for capital raising as the burden with complying with AIFMD, at least as it relates
Mid-market advisory firm Clearwater International has advised recruitment agency GatenbySanderson on its management buyout (MBO), backed by private equity house Primary Capital.
GatenbySanderson provides permanent and interim executives across public services and the not for profit sector. The business has a particular expertise in headhunting chief executives, senior management teams and non-executive board members within markets that frequently undergo change.
Primary Capital has previous experience in the support services sector, acquiring security recruitment business Pegasus Security and achieving a 5xreturn on its investment in 2006. Primary Capital’s latest acquisition will help GatenbySanderson achieve the next stage in development by
Allen & Overy has advised Amtek Global Technologies (AGT) on its EUR235 million long-term facilities provided by Kohlberg Kravis Roberts & Co’s (KKR) US and European debt and credit investment funds.
The loan facility provided by KKR to AGT will be used, inter alia, to refinance all of the existing debt financings of AGT and its subsidiaries.
AGT is a subsidiary of Amtek Auto Limited, one of the world's largest global forging, casting and integrated machining companies, which is listed in India on the National Stock Exchange and the Bombay Stock Exchange.
Kunal Sabharwal, chief executive officer of
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