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Deutsche Asset & Wealth Management’s DB Private Equity has held the first and final close of its Secondary Opportunities Fund III (SOF III) at the USD1.655 billion hard cap.
SOF III is dedicated to acquiring a diversified set of private equity fund interests and assets in the secondary market globally.
Carlo Pirzio-Biroli, global head of DB Private Equity and co-head of DB PE Secondary Funds, says: “We are very pleased to have received support from an impressive roster of institutional and private clients globally. In line with our proven value investing approach, we expect to deploy capital consistently across
Private equity firm Lightyear Capital has appointed Martin Sullivan as an operating partner.
Sullivan will draw upon his decades of experience to work with Lightyear and the management teams of businesses within Lightyear’s portfolio. He currently serves as non-executive chairman of Cooper Gay Swett & Crawford (CGSC), a global reinsurance, wholesale and specialty broker, and as a director of Paradigm Outcomes, a provider of complex and catastrophic medical management, two of Lightyear’s portfolio companies.
Sullivan spent 37 years with AIG, most recently as president and chief executive officer. After leaving AIG in 2008, Sullivan joined Willis Group Holdings in
Singaporean venture capital firm Infocomm Investments has launched in London and is extending its USD200 million fund to European tech start-ups.
At a launch event held at Central London’s Southbank Centre, the chairman of Infocomm Investments and executive deputy chairman of Infocomm Development Authority of Singapore, Steve Leonard, announced the fund’s first investment in Europe into the FinTech accelerator, Startupbootcamp FinTech.
Leonard says: “There are many smart cities around the world, but Singapore is building itself into a smart nation. This means we want to use exciting new technologies to better serve citizens of all ages and companies of all
AMP Capital has launched its Global Infrastructure Fund and has attracted a significant commitment from global private equity and infrastructure investor Pantheon into its global infrastructure platform.
AMP Capital has created the platform by converting its Strategic Infrastructure Trust of Europe (SITE) from an open-ended to a closed-ended European fund and launching the Global Infrastructure Fund.
SITE’s existing portfolio comprises USD750 million worth of assets, which will be shared with the Global Infrastructure Fund. The fund is aiming to raise a further USD1.25 billion of new commitments, giving the global infrastructure platform an overall target size of USD2 billion.
Praesidian Capital has provided USD6.9 million in senior debt and growth capital to support Cohere Communications’ acquisition of Another 9.
Cohere provides managed cloud, Voice-over-Internet Protocol (VoIP) and IT services to more than 200 customers globally. Its customers are primarily financial and media firms.
Another 9 provides comparable, complex telecommunications services to more than 300 small and mid-sized businesses and specialises in secure, multi-site and high availability hosted solutions. Both businesses are located in the New York metropolitan area.
“In this acquisition, we saw a company with a shared focus, commitment and expertise in addressing complex technologies,” says
Augentius has received authorisation from the Ministère des Finances, Luxembourg to act as an authorised depositary to private equity and real estate funds under the Alternative Investment Fund Managers Directive (AIFMD).
“Luxembourg is an important domicile for us,” says Ian Kelly, group chief executive, “and it is increasingly used as a domicile for private equity and real estate funds. We have already been approved as a depositary in the UK and, with the addition of Luxembourg, we are one of the very few specialist groups able to provide these services across two major domiciles. We are also an Authorised Custodian
Pacific Fund Systems (PFS) has delivered an automated AIFMD Annex IV reporting solution in the latest release of its PFS-PAXUS fund accounting and share registry software platform.
The solution, which is fully integrated into PFS-PAXUS, facilitates the automated generation of an XML file in ESMA format for submission to local regulatory authorities.
This new reporting capability adds to the existing suite of regulatory reporting functionality in PFS-PAXUS.
James Eldershaw, a director of PFS, says: “After consultation with a number of our clients we learnt that they are being approached by their fund manager clients to aggregate and compile
The value of global private equity deals targeting Africa has more than doubled (137 per cent) in the first half of 2014 compared to the same period last year, according to research by global law firm Freshfields Bruckhaus Deringer.
Global PE funds completed 15 deals collectively worth USD1.5bn in the period between 1 January 2014 and 30 June 2014, up from 10 deals totalling USD621m in the first half of 2013. As a proportion of total African PE spend (83 per cent in 2014 H1) and deal volume (44 per cent in the same period), global PE firms are now
By Ross Ellis (pictured), SEI – The asset management industry is going through a transformative period dominated by two somewhat conflicting trends: growth and uncertainty.
Revenue growth and operational efficiency are always primary business drivers, but paired with flat budgets and growing regulatory requirements, today’s asset managers often face difficult decisions about future planning.
Business growth is bringing additional complexities across the spectrum of buy-side firms: the client base is extending to include global pension funds and sovereign wealth firms, while the number and variety of managed accounts and investment vehicles are expanding. Meanwhile, the strategies within a firm are broadening
HIG Capital’s portfolio company Onyx Payments has acquired Norway-based Net Trans Services and Spain-based Worldwide Payment Systems (WPS).
Headquartered in Dallas, Texas, Onyx acts as a global clearinghouse for hotel commissions, processing transactions in over 200 countries and 29 currencies. As a result of the acquisitions, the company will seek to eliminate payment processing barriers and improve efficiencies, while increasing commerce transparency between hotels and travel distributors.
"We are pleased to support Onyx in its acquisitions of Net Trans Services and Worldwide Payment Systems," says William Nolan, a managing director of HIG Capital. “The acquisition will expand Onyx’s geographic
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