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Improving economic conditions in North America saw 2013 fuel the highest level of volume and values by entry enterprise value (EV) for private equity (PE) exits since 2006, according to EY’s annual North American PE exit study.
The report, Returning to safer ground: How do private equity investors create value? A study of North American exits, highlights that IPOs drove exit activity in 2013.
Increased public market demand and a return of corporate buyers meant that IPOs accounted for 61 per cent of aggregate PE entry value of exits.
The report, now in its eighth year, examines the
LogRhythm, a security intelligence company, has finalised a USD40 million round of new equity financing led by Riverwood Capital with participation by existing investors Adams Street Partners, Access Venture Partners and members of senior management, along with new investor Piper Jaffray.
The proceeds will be used to accelerate investment in product development, sales and marketing and customer service as the company further capitalises on its strong momentum.
“LogRhythm is thriving in the security intelligence market on several fronts and has accelerated growth over the last year,” says Jeff Parks, founding partner of Riverwood Capital and newest member of LogRhythm’s
Privacy Analytics has raised USD3.5 million in a round led by Vanedge Capital, a Vancouver-based venture capital fund.
Vanedge joins the BDC IT Venture Fund and the Ontario Institute for Cancer Research (OICR) as the primary investors in Privacy Analytics.
V. Paul Lee, managing partner for Vanedge, will join the company’s board of directors.
The funds will be used to increase Privacy Analytics sales and marketing efforts, as well as bolster development of its PARAT software product line.
“We are thrilled to be working with Paul and Vanedge, whose team brings deep expertise to help our company
Following its recent launch, ablrate.com has added the first aircraft deal to its peer-lending portal.
The financing opportunity is for an ATR 42-500 turboprop, which is being leased by SATENA, a government backed regional airline in Colombia.
The deal is backed by a major European bank, and will pay a rate of 10 per cent interest per annum, over a period of six years.
Since its launch, ablrate.com has seen strong interest from investors, including family offices and small institutions.
Growth capital investor Beringea’s portfolio company Abzena Plc, previously known as Polytherics, has raised GBP20 million by way of a placing of 25 million new ordinary shares at 80 pence per share.
The firm’s ordinary shares have been admitted to trading on the AIM market of the London Stock Exchange.
Some 3.4 million existing ordinary shares are also being sold at the placing price.
Beringea first invested in Polytherics through ProVen Growth and Income (PGI) and ProVen Health (now merged with PGI) in September 2011.
The company’s entire issued share capital of 97.4 million ordinary shares (as
NorthEdge Capital has promoted Tom Rowley to investment director and Phil Frame to investment manager.
Rowley joined NorthEdge as investment manager at the start of 2013. He has played an instrumental role on the board of Jigsaw24 and was involved in the company’s recent acquisition of London-based Square Group, which takes turnover to more than GBP80m. Rowley also played a lead role in the recent GBP66m Accrol Papers transaction. He has over 13 years’ experience working across public and private transactions, with previous positions at Deloitte and Zeus Capital.
Frame joined NorthEdge in 2012 as a senior investment executive.
Since 2008 nearly one-third of European charities have restructured their investment portfolios to increase their exposure to alternative products, according to a survey by Cerulli Associates.
The latest issue of The Cerulli Edge-Global Edition includes the results of a survey of major European charities which, together, hold a total of GBP64.2 billion (USD109.3 billion) in assets.
"The conclusion must be that for asset managers with a proven track record in alternatives-be it hedge funds, infrastructure fund managers, private equity groups, or an institution that can act as a broker for direct investments-there are some terrific opportunities within the sector," says Barbara Wall,
International companies continue to turn to US stock exchanges to connect with American investors for their IPOs and subsequent capital raising, according to BNY Mellon's Depositary Receipts 2014 Midyear Update.
The first half of 2014 saw the highest level of DR capital raisings in the last three years. As of 30 June, 41 capital markets transactions globally raised more than USD9.1 billion, well ahead of the USD3.6 billion raised through 20 transactions during the same period in 2013.
BNY Mellon served as depositary bank for 18 of this year’s deals, which have raised over USD3.1 billion.
Companies from
Ari J Markenson has joined Duane Morris’ health law practice group as a partner in its New York office.
Markenson bolsters the firm’s national health law practice group, particularly in the area of healthcare M&A, regulatory work and private equity.
Markenson joins the firm from Benesch, Friedlander, Coplan & Aronoff.
Markenson has spent his career working at the intersection of healthcare, law and business. He counsels healthcare industry clients, including providers and payers, on a wide range of matters with specific experience in the representation of post-acute and continuing care providers and suppliers. He represents private equity firms
Private equity firm Consonance Capital Partners (CCP) has held the final closing of its USD500 million healthcare private equity fund.
The fund was oversubscribed, surpassing its USD350 million target and reaching its fundraising cap of USD500 million.
Consonance Capital Partners invests in private companies in the lower middle market of the US healthcare industry with an emphasis on businesses driving efficiency, cost containment and high quality clinical care to patients.
CCP’s founders, Mitchell Blutt, Benjamin Edmands, Stephen McKenna, and Nancy-Ann DeParle, partnered together for over a decade while at JPMorgan Partners and its successor and predecessor entities, and
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