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Investcorp, a provider and manager of alternative investment products, has completed the sale of SourceMedia to Observer Capital. Terms of the transaction have not been disclosed.
Investcorp originally acquired SourceMedia, inclusive of its Accuity affiliate, from the Thomson Corporation in 2004. Through Investcorp's stewardship, SourceMedia made significant investments and changes to the business that advanced its digital-first strategy, significantly diversifying its revenue mix to incorporate digital media, marketing services, events and new categories such as research. In addition, Investcorp spun out Accuity, and worked with its management to position the business as the leading US provider of payment efficiency and
A total of 34 Guernsey Alternative Investment Fund Managers (AIFMs) have utilised Guernsey’s National Private Placement (NPP) regime to market Alternative Investment Funds (AIFs) into Europe, as of 31 July, 2014.
The figures from then Guernsey Financial Services Commission (GFSC), which solely reflect marketing into Europe by Guernsey AIFMs and not that by European Economic Area (EEA) AIFMs, reveal that the 34 managers promote investment funds into one or more EEA Member States. These cover 15 of the 27 jurisdictions with whom Guernsey signed bilateral cooperation agreements in July 2013 ahead of the Alternative Investment Fund Managers Directive (AIFMD) coming into
Fortress Investment Group has held the successful close of Fortress Worldwide Transportation and Infrastructure Investors (FTAI) at its cap of USD995 million in total commitments.
FTAI was originally raised as a USD395 million fund; this was followed by a subsequent “top up” private capital raise of USD600 million of additional capital commitments.
FTAI brings together a diverse mix of high yielding transportation assets and value-add infrastructure projects. Its portfolio includes aviation, shipping, offshore energy and rail assets and infrastructure, including airplanes, jet engines, shipping containers, intermodal equipment, offshore energy vessels, as well as railway lines, railcars and terminals.
“The environment
Private equity firm Ridgemont Equity Partners has appointed three new investment professionals and promoted Seth Peck to vice president.
Charles Anderson and Ben Hosler joined the Charlotte office as vice president and associate, respectively, and Mark Pollak joined the Dallas office as an associate.
“We’re excited to continue to add new members to our deal execution team and pleased with Seth’s well deserved promotion. Charles, Ben and Mark come to Ridgemont with relevant industry experience and excellent backgrounds in middle market M&A and private equity,” says Walker Poole, a partner at Ridgemont.
Prior to joining Ridgemont, Anderson was
Los Angeles-based private equity firm Vance Street Capital and its affiliates have acquired Eirtech Aviation, a specialist aviation coating services company headquartered in Shannon, Ireland.
Eirtech will be combined with existing Vance Street portfolio companies, Leading Edge Aviation Services and Associated Painters, to form International Aerospace Coatings.
The combined entity creates a global provider of aviation coating services, including exterior and interior aircraft painting, aircraft refurbishment and provision of aircraft graphics.
The principals of Eirtech Aviation will maintain a substantial ownership stake in the combined business. Terms of the transaction have not been disclosed.
The newly merged
The sale of two portfolio companies – Precision Dermatology, and CardioMEMS – has seen the limited partners of private equity firm Boston Millennia Partners realise USD10.5 million.
With the receipt of Hart-Scott-Rodino clearance, the acquisition of Precision Dermatology by Valeant Pharmaceuticals, for USD500 million, closed on 7 July.
On 30 May, Boston Millennia Partners’ portfolio company CardioMEMS, whose lead product is a significant advancement in the treatment of heart failure, was sold to St Jude Medical pursuant to a transaction valued at USD463 million.
Precision was spun out of Collegium Pharmaceuticals, a specialty pharmaceuticals company, for which Boston
Ipreo Holdings has been acquired by private equity funds managed by Blackstone and the Goldman Sachs merchant banking division.
The business has been acquired from affiliates of Kohlberg Kravis Roberts (KKR). Terms of the transaction have not been disclosed.
"Ipreo is an extraordinary company with tremendous potential for growth," says Martin Brand, senior managing director of Blackstone. "We are pleased to partner alongside management and Goldman Sachs to position Ipreo for continued innovation and success."
"Ipreo has a long track-record of impressive performance across all the markets it serves. We are excited to help the company achieve new
Technology investment specialist Mercia Fund Management is launching a fund offering tax-efficient investment in the UK’s fast-growing digital economy.
The Mercia Digital Fund will use the hybrid structure of Mercia’s previous three tax efficient funds, combining the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS), to invest in a diversified portfolio of innovative digital companies with high growth potential.
Key sub-sectors within digital that the fund will target include:
· Fintech – financial technology – in which global investment has more than trebled during the past five years
· The Internet of Things (IoT) – focused around the
Neuberger Berman Group has expanded its global consultant relations team with the appointment of four senior professionals.
The new recruits are:
Rhoni Wiswall, managing director, US West Coast coverage. Wiswall previously served as head of consultant relations at Crestline Investors.
Dimitri Stathopoulos, managing director, US Midwest coverage. Stathopoulos previously served as global head of consultant relations at Nuveen Investments.
Peter Andjelkovich, vice president, US Midwest coverage. Before joining Neuberger Berman, Andjelkovich served as a consultant relations professional at Ariel Investments.
Jolie Cornelius, senior vice president, UK coverage. Before joining Neuberger Berman Cornelius served as an investor
Druva has completed a USD25 million Series D funding from Sequoia Capital, Nexus Venture Partners and Tenaya Capital.
The Sequoia-led round comes 10 months after a USD25 million Series C instalment from the same investors, bringing the total venture capital investment in Druva since 2010 to USD67 million and setting the stage for expanding the company's focus on managing data outside the corporate firewall.
Druva is a provider of data protection and governance solutions for laptops, tablets and smartphones. Since the last round in October 2013, the company's enterprise customer base has surged from 2,100 to 3,000 with 2.8
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