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A growing interest by large limited partners (LPs) to either co-invest or directly invest in corporate equity financings has led private equity (PE) firms to respond by facilitating investments in deals outside these managers' primary funds.
The trend reduces the overall average management and carry fee percentages paid by large LPs, but allows PE firms to maintain or increase overall investment levels, according to Fitch Ratings.
As the PE sector further grows its total assets under management, Fitch believes that permitting large LPs greater investing flexibility and lower fees is an unsurprising result, and overall a neutral impact to
Connexus Equity Management Partners has closed a series A investment in H3 Financial Services, a SaaS financial services provider of credit, billing and payment solutions for the veterinary and dental markets.
As the lead investor in this round of financing, Connexus will have a seat on the board of directors and will provide strategic advisory services to help H3 achieve its short and long term growth objectives.
“Connexus is excited to be a part of this early stage company that has developed a robust software and payment solutions platform to enable a range of high value services to its
PineBridge Investments has appointed two senior investment professionals to its private funds group.
PineBridge appointed Justin Pollack as senior vice president and Stacia Rogers as vice president, product specialist.
Pollack will support secondaries activities and opportunities for the team, and Rogers will oversee growth initiatives and serve as the team's primary contact for various business development channels.
"We are excited to have such experienced and well-rounded investment professionals join our private funds group," says Steven Costabile, managing director and global head of the private funds group. "Stacia and Justin bring a wealth of knowledge in private market investing
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 competed 15 deals collectively worth USD1.5bn in the period between 1 January 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
Private equity firm Brentwood Associates has partnered with Z Gallerie, a lifestyle retailer offering a variety of home goods, including furniture, artwork, lighting, tabletop items, textiles and decorative accessories.
Z Gallerie is headquartered in Gardena, California, and led by its three founders, Joe Zeiden, Carole Malfatti and Mike Zeiden.
Founded in 1979, Z Gallerie is focused on designing and sourcing proprietary products that encompass the best design ideas from around the world. Currently, the company operates 55 retail locations across 20 states.
Zeiden says: “Joe, Carole and I, along with our dedicated team of employees, are proud of
ConceptONE is geared up to file AIFMD Annex IV reports for AIFMs in all major EU National Competent Authorities (NCAs).
The firm has already been engaged by numerous AIFMs to provide its Annnex IV reporting solution, and urges those managers who have not yet made filing arrangements to do so as soon as possible in order to avoid missing the mandate’s first deadline.
By fully integrating with fund administrators, prime brokers, and portfolio accounting systems, ConceptONE’s RegERM Platform streamlines the process of aggregating and validating the necessary input data to answer the 3,800+ individual responses required by Annex IV.
Owain McNeill has joined Quintillion Limited, a European-based affiliate of US Bancorp Fund Services, as senior vice president of business development.
McNeill, based in London, will focus on the continued growth of the company’s alternative investment service offering throughout the European, Middle East, and Africa (EMEA) market.
“We are excited to continue expanding our dedicated team of professionals serving the European financial community,” says Joan Kehoe, chief executive officer for Quintillion. “Owain’s experience and expertise in alternative investments and fund administration helps strengthen our team and provides additional support for our clients.”
McNeill joins Quintillion with more
Carolon Capital and Red Rocks Capital are planning to launch a UCITS fund with an investment strategy focused on listed private equity.
The Red Rocks Global Private Equity UCITS Fund is targeted for launch in late 2014 or early 2015 subject to various regulatory approvals from the Central Bank of Ireland.
Through an open-ended structure, the fund will be organised as a sub-fund of a Dublin based corporate entity, Carolon Investment Funds plc, which will be a variable capital investment company. The authorisation of Carolon Investment is subject to regulatory approval.
Red Rocks will serve as the fund’s
David Wilton is to join Morgan Stanley Alternative Investment Partners (AIP) as a managing director with a focus on private equity impact investing.
AIP will develop a private equity impact investing programme in partnership with the Morgan Stanley Institute for Sustainable Investing, which seeks to drive private capital toward investments promoting sustainable and profitable economic growth.
Wilton joins Morgan Stanley from the International Finance Corporation (IFC), where he was chief investment officer and manager of its global private equity arm. During his time at IFC, he helped build out the private equity portfolio to more than USD4 billion invested
HIG Growth Partners has made an investment in Boostability, a provider of search engine optimisation (SEO), local search, website creation, social and other digital marketing services.
Headquartered in Lehi, Utah, Boostability uses its proprietary management software platform to perform thousands of marketing tasks each day.
The company’s founders started the company in January 2009 with the idea of creating affordable and effective SEO services for the small business marketplace. Boostability has over 500 employees in the US, Canada and Australia.
Co-founder and CEO Travis Thorpe says: “We are pleased to partner with HIG whose breadth of digital marketing
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