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Gramercy Funds Management, a USD4.2 billion emerging markets investment manager, has made a USD34 million investment in Columbian consumer finance company Credivalores-Crediservicios.
Grupo Credivalores is comprised of four complementary companies: Credivalores (non-regulated consumer finance company), Credifinanciera (regulated consumer finance company), Microfinanzas & Desarrollo (microfinance company), and Proteccion Garantizada (micro-insurance broker).
The group offers credit to the low and middle income population in Colombia equal to 7.1 million potential customers or 70 per cent of the population through different credit alternatives with a regional footprint comprised of 43 offices and 48 service points in 41 cities in Colombia.
Credivalores' loan
Actis, the global pan-emerging market private equity firm, has appointed Adrián Katzew as chief executive of its Mexican energy platform, Zuma Energía.
In addition, Mesopower México Corp, a vehicle managed by the investment firm Mesoamerica, has taken a 30 per cent stake in Zuma Energia.
Katzew has a long track record of international leadership in renewable energy, having been responsible for building and operating wind energy projects of more than 900 MW in various countries. He has participated in funding projects of more than USD5 billion in the energy sector.
As CEO of Zuma Energía, Katzew will initially
Impax Asset Management Group has signed a EUR106 million project financing arrangement with KfW IPEX-Bank for its Kuolavaara-Keulakkopää (Kuke) wind farm in Finland.
The wind farm is owned by Impax New Energy Investors II (NEFII), Impax’s second private equity fund which is dedicated to investments in renewable energy infrastructure.
Kuke is a 51MW wind farm with excellent wind resource in Lapland, northern Finland. The plant is currently under construction using the new 3MW Nordex N117 wind turbine generators with 120m towers. It is expected to start full production in early 2016.
Impax has also acquired an additional Finnish
Bluestem Brands is to be acquired by Capmark Financial Group for approximately USD565 million in cash, subject to various pre-and post-closing adjustments.
Capmark expects to fund the purchase price and associated transactional expenses with cash on hand, an equal amount of cash invested in Capmark by affiliates of Centerbridge Partners through the exercise of warrants and a USD300 million term debt facility led by Credit Suisse, Jefferies & Co. and US Bank.
Certain members of Bluestem’s management team are also investing in Capmark in connection with the transaction.
Upon completion of the transaction Steve Nave, Bluestem’s chief executive
Zolfo Cooper has overseen the sale of 43 Strada restaurants to Strada Trading Limited, a subsidiary of SCP Sugar Limited, an entity within Sun Capital Partners, co-founded by industry expert Hugh Osmond.
The sale forms a major part of the restructuring of the Tragus Group, which previously owned Strada.
Zolfo Cooper was appointed earlier this year to assist Tragus to undertake a financial and operational restructuring of its business.
As well as acquiring the sites, Strada Trading Limited will also employ all associated restaurant and head office staff. Paul Hemming, partner, head of corporate finance in Zolfo
International law firm Withers has hired Andrea Luciano as a partner and head of financial services and investment funds in its Milan office.
Luciano joins the firm from King & Wood Mallesons SJ Berwin, where he headed the Italian financial markets group.
Luciano has extensive experience in capital markets/debt matters, securitisation transactions and private equity, venture capital and hedge fund formation. He also has extensive experience of financial market regulation, compliance and AML procedures.
“We are delighted to welcome Andrea to our rapidly growing Italian team," says Withers’ Italian practice managing partner Roberta Crivellaro. "Andrea's expertise in financial
Frost Brooks, the boutique private equity firm co-founded by mid-market private equity specialists Miles Frost and Peter Brooks, has completed its first deal with a significant capital raising for Parcel Monkey.
The new investment, which included commitments from Frost Brooks’ founders and also from the firm’s network of HNW individuals and powerful family offices, will enable The Parcel Monkey Group to accelerate its UK growth and explore expansion overseas.
It will provide the funds to help complete the development and boost the brand awareness of its new services and enhance the company’s ability to capitalise on a busy Christmas
LBO France, via its Hexagone III fund, has acquired an 80 per cent stake in Payot, a French cosmetics and skincare laboratory, alongside a new management team led by Italian entrepreneur Andrea Surliuga.
Payot was created in 1920 by dermatologist Nadia Payot. The company became part of Spain-based Puig in 2001.
In 2013, Payot had over EUR25 million in revenues, 70 per cent of which came from outside of France.
Surliuga is the former CEO and owner of Dibi Cosmetics, which was sold to a large Italian cosmetics group in 2009.
Surliuga says: “This is a major
F Mark Fucci and Anne-Marie Godfrey are to join law firm Akin Gump’s Hong Kong office.
Fucci joins as a partner in the financial restructuring practice, while Godfrey is as a partner in the investment management practice.
Both Fucci and Godfrey are joining Akin Gump from Bingham McCuthcheon bringing the total number of partners switching between the two firms to 28.
The firm announced the forthcoming arrival of 22 partners in London, Hong Kong and Frankfurt on 17 September and four additional partners in London and Hong Kong on 22 September.
All 28 partners are expected to
Argus Cyber Security, which specialises in automotive cyber security, has raised USD4 million in a Series A funding.
The round included Magma Venture Partners, Vertex Venture Capital and a group of prominent investors including Zohar Zisapel.
As cars become connected to the internet and to external devices such as smartphones, smart keys, diagnostic tools and other vehicles, the more vulnerable they are to cyber-attacks. These malicious intrusions may compromise a vehicle's Electronic Control Units (ECUs), allowing manipulation of a car's engine, brakes, airbags and other safety systems or vehicle components.
Argus provides a unique Intrusion Prevention System (IPS),
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