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Oakley Capital Investments, through OCPE II Master LP, has acquired a majority stake in Facile.it, Italy’s largest car insurance broker and price comparison website.
Fund II will invest alongside Facile’s founders who will re-invest part of their proceeds.
Originally established in 2008 to provide consumers with access to the best car insurance premiums, Facile has subsequently built a diversified range of products to broaden its revenue base including gas and electricity, broadband internet services, bank accounts and mobile phones. It now helps 1.5 million Italians a month compare prices on key elements of their household expenditure.
The business had
iLEVEL, a cloud-based software provider to the private capital market, has opened a European data centre in the UK.
The iLEVEL Private Capital Data Platform is built to streamline data collection across a portfolio into a central repository, enabling fund managers and institutional investors to track investment performance with real-time, standardised reporting.
Year to date, iLEVEL has tripled the amount of clients that it services in the EMEA market.
iLEVEL’s London-based staff has doubled in 2014 and includes sales, implementation and client service capabilities.
“The iLEVEL platform has allowed us to streamline our portfolio analysis capabilities and
Accuris Networks, a provider of cellular and Wi-Fi connectivity, has completed a USD15 million equity funding round.
Key new investors in the privately held company are the Ulster Bank Diageo Venture Fund and the China Ireland Growth Technology Fund.
Accuris Networks has appointed US-based wireless executive Jeff Brown as chief executive.
Accuris Networks chairman Larry Quinn says: “Our established industry customer base, our significant pipeline and our industry-leading technology were all factors that attracted this investment. We intend to use this funding to invest in future product development in our AccuROAM platform, to maintain our lead in connecting
AIM-quoted investment group Adamas Finance Asia (ADAM) says its improved interim financial results provide the foundation for a reshaped strategy.
ADAM plans to sell off its private equity asset portfolio to provide cash reserves for redeployment into income-generating investments.
ADAM chairman John Croft says: “There is no doubt that the six-month period to June 2014 was the most eventful and potentially significant since the company’s arrival on AIM in 2009. I am confident this will enable the board to meet its long-term objective of re-positioning ADAM as a credit finance operation generating strong and predictable returns for shareholders.”
Preqin’s latest research into the Asian private equity industry has highlighted the accelerated growth in venture capital investment throughout the region in recent years.
After a number of years of slower fundraising and investment activity across the continent, venture capital deal flow across Asia, particularly in more emerging economies such as those in Northeast and South Asia, has increased significantly.
The level of investment in buyout opportunities across Asia has also grown in 2014, with USD29.6bn of investment so far in 2014 compared to USD25.7bn in the whole of last year.
Buyout deals so far in 2014 in
Power Capital Partners (PCP) has hired Eyob Easwaran as managing director and director of asset management, responsible for leading construction oversight, asset and risk management activities.
Easwaran will serve on the PCP investment committee.
Easwaran has more than 20 years of experience in the power industry in various capacities including engineering, project financing, construction, and asset and risk management.
Most recently, Easwaran was lead asset manager for Conduit Capital Partners, a private equity firm that invested in power projects in Latin America and the Caribbean. He managed a portfolio of power projects with approximately 1,000 MW of aggregate installed
French-based open-source software developer Akeneo has raised USD2.4m in start-up funds from venture capitalist Alven Capital.
The funds will be used for developing the firm's solutions in product information management (PIM).
Akeneo's use of open-source technology offers affordable access to software tools, contrasting with the domination of international competition by more expensive proprietary solutions. Akeneo has already won backing from investors Kima Ventures and Nestadio Capital.
"Akeneo is an open-source PIM application that is disrupting the market on top of proven technologies, such as PHP, Symfony and Oro Platform," says Yoav Kutner, co-founder of Magento. "It is able
HIG Capital has expanded its investor relations team with two new hires.
Jordan Peer joins the firm as managing director and head of investor relations, based in New York.
Thierry Edde joins the firm as director of investor relations, based in London.
Peer will oversee all marketing and investor relations activities globally across the firm’s private equity, growth equity, real estate, credit and life sciences funds. Edde will be responsible for investor relations efforts in the Middle East and Europe.
“We are excited to welcome these talented professionals to the firm. Peer and Edde have been hired
Wells Fargo Advisors is to pay a USD5 million penalty to settle SEC charges that it failed to maintain adequate controls to prevent one of its employees from insider trading based on a customer’s non-public information.
The SEC also charged Wells Fargo for unreasonably delaying its production of documents during the SEC’s investigation and providing an altered internal document related to a compliance review of the broker’s trading.
The SEC charges are the first-ever against a broker-dealer for failing to protect a customer’s material non-public information.
According to the SEC’s order instituting a settled administrative proceeding, Wells Fargo
Business development companies (BDCs) are increasingly using off balance sheet investment vehicles called senior secured loan programmes (SSLPs) to increase their effective portfolio leverage without running afoul of regulatory limits on balance sheet leverage.
This is a trend that adds incremental risks, according to Fitch Ratings.
SSLPs are receiving greater interest from BDCs seeking ways to combat portfolio yield pressure in the currently tight credit spread environment.
Fitch says the incremental risks of SSLPs, which include increased effective leverage and the potential for increased net asset value (NAV) volatility, warrant attention given current competitive underwriting conditions and the
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