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The first half of 2014 marked the busiest period to date for the secondary market for private equity, real estate, infrastructure and hedge funds, according to the Setter Capital Volume Report – H1 2014.
The report reveals that volume was up 47 per cent from the same period last year, driven by new and incumbent buyers who optimistically and aggressively put money to work, and the large number of sophisticated LPs who executed on opportunistic sales they had been contemplating for years.
In addition to higher dollar volumes in almost all areas, the first half saw an even greater
Private equity firm SFW Capital Partners has completed the sale of MD Buyline, a provider of healthcare analytics and supply chain spend intelligence capabilities to healthcare providers and vendors, to TractManager, a portfolio company of Arsenal Capital Partners.
SFW acquired Dallas-based MD Buyline in 2011 and supported CEO Satin Mirchandani and the company’s management team in a wide range of strategic growth initiatives, including enhancing and extending its product lines, investing in the company’s sales, marketing and account management functions, and strengthening the company’s business infrastructure.
These investments enhanced MD Buyline’s service offering for its customers and extended coverage
ACON Investments has held the final closing of the firm’s most recent Latin America middle market private equity fund, ACON Latin America Opportunities Fund IV, with total commitments of USD515 million.
In May 2014, the firm also closed on the issuance of MXD2 billion (approximately USD150 million) of Mexican publicly traded trust certificates, specifically Certificados de Capital de Desarrollo or Capital Development Certificates (CKD).
The fund, together with the CKD and co-investment appetite from many of ACON's limited partners, represents well over USD600 million of potential capital for pan-regional mid-market private equity investments.
ALAOF IV was oversubscribed, with global
Medley has appointed Peter McLaughlin as managing director on the firm’s direct lending team.
McLaughlin will play a key role in further developing the firm's relationships with private equity firms and corporate borrowers.
McLaughlin brings 23 years of experience to Medley having worked most recently as a managing director at CIFC and with Longroad Asset Management where he was head of origination.
Prior to Longroad, McLaughlin worked with Gottex Middle Market Debt Fund, Contrarian Capital Management, Golden Tree Asset Management, Wells Fargo Foothill and JP Morgan.
Seth Taube, CEO of Medley, says: "We are pleased to add
Elysian Capital I has acquired, in conjunction with the company’s management, Access Hire Nationwide (AHN) and Welfare Hire Nationwide (WHN).
This is the eighth platform deal in the Elysian Capital I LP Fund and the fourth acquisition made by Elysian in the last 18 months.
AHN specialises in the hire of high quality, specialist powered access and welfare vehicles in the UK. It provides Vehicle Mounted Access Platforms (VMAPs) to end use markets in infrastructure maintenance such as power, street lighting and telecoms. Only a third of the market is currently serviced through outsourced rental fleets with the remainder
Impax Asset Management has added three new hires to its private equity infrastructure team.
Within private equity infrastructure, the firm manages two funds that follow an industrially focused, value-add “buy, build and sell” strategy, investing in renewable power generation and related assets.
Its latest fund, a EUR330 million investment fund that achieved final close in 2011, is now close to 75 per cent invested.
Peter Rossbach, managing director of the private equity infrastructure team, says: “We are delighted to announce these appointments which bring a broad range of analytic experience and expert support to strengthen the team. In
HIG Europe, the European affiliate of private equity firm HIG Capital, has completed the acquisition of Café & Té and Panaria, two bakery, coffee-shop and tapas bar operators in the Spanish foodservice market.
Café & Té is a Spanish coffee-shop and tapas bar operator with a network of 147 points of sale with 101 directly operated stores (DOS). Café & Té Group operates, amongst others, through the following brands: Café & Té, Café & Tapas, Il Caffè di Roma, Kroxan and Sky Madrid.
Panaria was founded in 2010. In four years Panaria has developed a network of more than 60
Evercore is to acquire the operating businesses of ISI International Strategy & Investment, an independent research-driven equity sales and agency trading firm.
Evercore also will acquire the approximately 40 per cent interest in its institutional equities business not currently owned by the company.
The combined business, which will be known as Evercore ISI Institutional Equities, will be one of the two leading independent equity research, sales and agency trading businesses in the US.
Evercore will issue up to approximately eight million share equivalents in the two transactions, with almost 70 per cent of the share equivalent consideration dependent
The Asian Development Bank (ADB), ORIX Corporation and Robeco Institutional Asset Management have teamed up to establish Asia Climate Partners (ACP).
The new joint venture will undertake commercially-oriented private equity investments across a variety of environmentally supportive, low-carbon transactions throughout Asia.
ACP, which will be capitalised initially by USD400 million from its founding partners, will be based in Hong Kong, staffed by a team of experienced private equity investment professionals, and dedicated to investing in renewable energy, clean technology, natural resource efficiency, water, agriculture, forestry and other climate-friendly companies and transactions.
“We believe that ACP provides an innovative
UK clinical stage pharmaceutical company Destiny Pharma has secured an investment round of over GBP2.8 million to fund a clinical trial for its drug, XF-73, which aims to prevent post-surgical Staphylococcal infections.
The Angel CoFund, a GBP100m fund for small and medium sized British businesses with government backing, invested in Destiny Pharma alongside other UK investors.
Antibiotic resistance is of growing concern with David Cameron warning that we may be heading into a post-antibiotic era akin to the ‘medical dark ages’. In July this year, he announced an independent review on the subject with a view to make recommendations as
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