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Despite a slight fall in fundraising in Q3 2014 compared to the previous quarter, the total capital raised in 2014 so far remains strong, with the USD63bn raised in the first three quarters of the year surpassing the USD56bn raised during the same period last year. However, the number of funds reaching a final close has declined from 166 to 121 over this time period, and almost two-thirds of capital raised by funds holding a close in Q3 came from just five firms, suggesting that capital is increasingly concentrated among fewer managers.
Please click here to download the Preqin Quarterly Update:
Investment fund Project Innovation has exited from another Chinese credit-finance project with a gross internal rate of return (IRR) of 28.19 per cent.
Project Innovation was structured by the BRJ China Credit Fund Limited and launched last year by ADAM’s Hong Kong-based investment manager Adamas Asset Management (HK) Limited, which invested GBP800,000 in the fund.
ADAM chairman John Croft, says: “In line with the strategic repositioning of the company, we are continuing to plan the orderly disposal of our existing asset portfolio to generate cash for investment in high-yield corporate lending in Greater China, where a large number of
Fundraising for private infrastructure funds has remained strong in 2014 to date, with the 14 funds closing on an aggregate USD8.5bn in Q3 2014 bringing the total raised throughout the year to USD27bn, a small increase on the USD23bn raised over the same period last year. However, capital is further concentrated among a smaller selection of managers, with the number of funds to close falling. Just 28 funds have closed in the first three quarters of this year, compared to 41 in the same period in 2013.
Please click here to download the Preqin Quarterly Update: Infrastructure, Q3 2014
The third quarter of 2014 saw 199 private equity funds reach a final close, raising USD80bn in aggregate capital, representing 21% fewer vehicles and a significant 44% decrease in capital commitments compared to the previous quarter. However, the relatively low number of funds means that the average fund size of USD402m is particularly high. Investors seem to be more inclined to commit capital to the larger, more established private equity fund managers, and these statistics serve as evidence of continuation of the trend seen in the fundraising market last year.
Please click here to download the Preqin Quarterly Update: Private Equity,
Private equity from Providence Equity Partners has agreed to purchase a stake in RentPath, a vertical search company for apartment and home renters, from existing owner TPG.
Under the terms of the agreement, Providence and TPG will own equal shares of RentPath, with management continuing to also have a stake in the company.
The transaction is expected to close by the end of the year.
“We are thrilled to have Providence join TPG in owning RentPath, and extremely gratified by the vote of confidence in our business reflected by their investments,” says Charles Stubbs, CEO of RentPath. “Having
iCapital Network, a new online marketplace connecting qualified investors with private equity fund managers, has closed its second round of financing, raising USD9.25 million from both existing and new investors.
“Our vision at iCapital Network is to transform the private fundraising practice and break down longstanding barriers preventing qualified investors from building the diversified private equity portfolios they desire,” says Lawrence Calcano, managing partner, iCapital Network. “This new round of financing will allow us to continue building out our innovative platform and bring private funds to a broader audience.”
iCapital Network has created a platform that enables qualified investors
Funds advised by CVC Capital Partners have acquired Paroc Group from its existing institutional shareholder group for an enterprise value of approximately EUR700 million.
Headquartered in Helsinki, Paroc is a producer of stone wool insulation in the Nordic and Baltic regions, producing building insulation and technical insulation for the residential and commercial construction markets, as well as various industrial applications. The group has approximately 2,100 employees and a pan-European sales presence, supported by nine production facilities in Finland, Sweden, Lithuania, Poland and Russia.
In a five-year period under the ownership of its current shareholder group, Paroc has grown its
Ingenious Med has secured a majority stake investment from North Bridge Growth Equity, a private equity firm focused on investing in high-growth technology companies.
Atlanta-based Ingenious Med provides a cloud-based, patient encounter platform, IM1, for the healthcare industry. The solution automates physician and care team workflow at the point of care, unifying communication, coding, revenue, and business and clinical intelligence into a single, easily integrated solution that can be accessed through mobile devices or the Web.
Ingenious Med serves 25,000 users at 900+ healthcare facilities across the US, including seven of the 10 largest hospitalist management companies as well
Fortress Risk Management has raised USD3.5 million in funding with a group of institutional investors, including Black Dragon Capital and Advantage Capital Connecticut Partners.
The investment will be used to support the company’s growth, accelerate its customer base and assist with the expansion and development of new products and services.
"We have brought together a deep bench of highly regarded industry experts who led the transformation of core in the community financial technology space and understand the desperate need for a company like Fortress,” says David Mitchell, president of Fortress Risk Management. “The old way of doing things is
Carey Olsen's financial and corporate and investment funds work in the Channel Islands, the Cayman Islands and the British Virgin Islands has been recognised in the 2015 International Financial Law Review 1000 (IFLR1000) guide.
The new results come just after the firm gained tier 1 rankings across all of its Channel Island practice areas in The UK Legal 500.
The IFLR1000 is a guide to the world’s leading financial law firms and is based on independent research which includes interviews with the featured firms, client and competitor feedback and market analysis from the past 12 months.
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