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KKR and Borealis Maritime has acquired a portfolio of nine feeder container vessels in a sale process coordinated by Commerzbank.
The vessels were previously owned by a number of German KG funds and were originally financed by Commerzbank. Financial details of the transaction were not disclosed.
In 2013, KKR and Borealis Maritime formed a joint venture named Embarcadero Maritime to invest in distressed shipping assets. Since its formation and including the most recent acquisition, Embarcadero Maritime has acquired 27 vessels in nine separate transactions and its current fleet includes a mix of chemical tankers, feeder container vessels and small
Alternative asset manager The Carlyle Group has closed a collateralised loan obligation (CLO) fund in the US totalling approximately USD816 million.
The CLO, arranged by Citigroup, is the firm’s third of 2014 in the US.
Carlyle GMS CLO 2014-3 will invest predominantly in senior secured bank loans.
Including these latest closings, in 2014 Carlyle has raised approximately USD3.23 billion in CLOs — USD2.16 billion in the US and USD1.07 billion (EUR777 million) in Europe, the second consecutive year in which Carlyle has raised more than USD3 billion in new issue CLOs.
Mezzanine finance specialist Attract Capital is expanding to the UK.
The firm was founded in New York in the year 2000 to provide middle market companies direct access to the mezzanine lending market.
According to founder David Barnitt, the UK is an under-served mezzanine market, particularly in the lower middle market.
"The UK market has many great up and coming companies in need of capital to get to the next level. We believe our lending platform and structuring expertise will deliver the financing these companies need," Barnitt says. "Mezzanine loans are both flexible and bespoke, and can be
International investment bank Altium has advised Enterprise Foods in securing investment from London-based private equity investor Hattington Capital, along with funding support from Clydesdale and Yorkshire Bank.
Enterprise Foods is a UK technology enabled supplier of a wide range of craft bakery and other food products. The company’s national supplier coverage enables it to provide over 35,000 product lines, supplied to its customers by more than 400 accredited supply partners.
The deal follows the management buyout led by Tony Moloney, chief executive of Enterprise Foods, seven years ago.
The team at Altium, comprising managing director Simon Lord, director
Cressey & Company and Level Equity Management have sold Strategic Healthcare Programs (SHP) to Roper Industries, a diversified technology company.
SHP, headquartered in Santa Barbara, California, is a provider of software and informatics solutions to the post-acute healthcare market. SHP delivers data-driven insight to thousands of post-acute organisations, such as home health, hospice and long term care.
C&C and Level Equity invested in SHP in December 2012 and partnered with SHP's management team over the past two years to expand the company's footprint, broaden its technology solution and strengthen its market position.
"SHP is a clear leader in providing
ARCH Venture Partners’s eighth venture fund has closed with more than USD400 million in subscriptions.
ARCH Venture Fund VIII exceeded its USD250 million subscription target by more than USD150 million.
"The enthusiasm behind Fund VIII shows the strength and potential of our approach to finding and funding new platform technology companies that can transform their industries through disruptive innovation," says ARCH co-founder and managing director Robert Nelsen.
ARCH will deploy this fund exclusively in early-stage technologies that can fundamentally change the healthcare, energy, and materials sectors. ARCH's search for disruptive technologies is global, with technology sourcing or investment
Phil Sanderson, the former head of Travers Smith’s London private equity team, is joining Ropes & Gray as a partner in the firm’s London office.
Sanderson has established himself as one of the top private equity lawyers in the UK market over his 20-year career, and he has consistently ranked in the top tiers of Chambers UK and The Legal 500.
Particularly known as a market leader in mid-market private equity transactions, Sanderson advises private companies, institutional investors and management teams in all areas of private equity, UK and international buy-outs, and strategic M&A transactions.
In joining Ropes
The Securities and Exchange Commission (SEC) has charged a director of market intelligence at a Manhattan-based investor relations firm with insider trading ahead of news announcements by more than a dozen clients.
The charges were filed against Michael Anthony Dupre Lucarelli, who garnered nearly USD1 million in illicit profits.
An SEC investigation and ongoing forensic analysis of Lucarelli’s work computers uncovered that he repeatedly accessed clients’ draft press releases stored on his firm’s computer network prior to public announcements. The SEC alleges that Lucarelli, who had no legitimate work-related reason to access the draft press releases, routinely purchased stock
Chiquita Brands International and Fyffes have updated the anticipated annualised pre-tax cost synergies for the proposed combination of the two businesses.
Chiquita and Fyffes have identified an additional USD20 million of synergies for a total of at least USD60 million in annualised pre-tax cost synergies by the end of 2016, reflecting additional information which has become available regarding optimisation of sourcing and shipping logistics, as well as the output of the information technology integration planning work stream that was established after the proposed combination was first announced.
The USD20 million of additional recurring annual synergies is anticipated to come
bfinance, an independently owned investment consultancy, has added to its service and advisory capabilities in the Middle East with the hire of a senior consultant.
Navneet Maheshwari joins from Nasdaq Dubai and will be responsible for local market client relations for bfinance across the Middle East as well as the development of new business opportunities in the region.
At Nasdaq Dubai, Maheshwari was responsible for building the exchange’s equity capital markets business in the MENA and CIS region.
Previously, Maheshwari worked for five year with Partners Group, a leading global private markets investment manager in their Switzerland and
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