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Private equity and alternative firms are moving down market to support the retail marketplace, according to research from analytics firm Cerulli Associates.
"Private investment managers, following in the tracks of hedge-fund-focused alternative firms and traditional long-only managers, are tapping the public markets," says Michele Giuditta, associate director at Cerulli. "Delivering illiquid private investments to the retail marketplace is challenging, as the typical buyout fund on average has a lifecycle of approximately 10 years."
Cerulli's latest annual report, Alternative Products and Strategies 2014: Identifying Opportunities in a Dynamic Investment Landscape, focuses on the US retail and institutional alternative product landscape,
Private equity firm MidOcean Partners has made a significant minority equity investment in Nutrabolt, a nutritional life sciences company known for its popular sports nutrition brand, Cellucor.
Founded in 2002 in Texas, Nutrabolt produces a line of sports nutrition products under the Cellucor, Neon Sport and Royal Sport brands.
The company's brands are sold within leading sports nutrition retailers in North America and internationally.
"MidOcean has extensive experience in the health and wellness space, and we found Nutrabolt's unique and leading position in the sports nutrition marketplace very compelling," says Daniel Penn, a MidOcean principal. "We are
Weldex, a UK crane hire company backed by private equity firm Dunedin, has appointed Bill Caplan as chairman.
Dunedin backed the GBP55m management buyout (MBO) of Weldex in June 2010.
Until recently, Caplan served as an executive director on the board of Aggreko.
Prior to joining Aggreko, Caplan spent 18 years working for UPS’ international parcels and supply chain solutions divisions.
Nicol Fraser, partner at Dunedin, who sits on the board of Weldex, says: “Bill has a great deal of experience in managing and growing large-scale international operations for privately and publicly held companies and we are
The US Securities and Exchange Commission has issued a new Guidance Update – “Private Funds and the Application of the Custody Rule to Special Purpose Vehicles and Escrows.”
According to Cordium, this regulatory update is relevant to certain registered investment advisers to private pooled investment vehicles using special purpose vehicles (SPVs) when making investments (investment SPVs) and to firms that use escrow accounts when selling interests in portfolio companies, in both cases typically private equity firms.
The Guidance Update discusses how advisers with Investment SPVs may comply with Investment Advisers Act of 1940 Rule 206(4)-2 (the “Custody Rule”), specifically
Ipes has received Financial Conduct Authority (FCA) authorisation to act as private equity AIF Depositary under the Alternative Investment Fund Managers Directive (AIFMD).
Ipes Depositary currently acts for 118 Alternative Investment Funds (AIFs), representing over USD49 billion in commitments, for 25 private equity clients (AIFMs).
As a pure private equity specialist, Ipes has designed a depositary service in conjunction with Big Four expertise and leading law firms to be tailored to private equity funds.
Ben Cook, managing director of Ipes UK, says: “We are delighted to receive our AIF Depositary licence. Clients tell us that our pragmatic, technology
SS&C GlobeOp has obtained Financial Conduct Authority (FCA) approval for its Depositary “Lite" service offering.
The recently launched service helps managers of non-EEA AIFs in fulfilling their Alternative Investment Fund Manager Directive (AIFMD) requirements.
SS&C will help managers comply with various aspects of the AIFMD including functions relating to asset verification, cash flow monitoring and oversight services.
"We have been operating as a Depositary 'Lite' under the transitional provision for a number of months and we are delighted to now receive our full authorisation," says Des Pierce, senior director, SS&C GlobeOp.
"We've seen strong interest in our
All Asia Asset Capital (AAA), through a special purpose wholly owned subsidiary, is to acquire a further 4.5 per cent of Andaman Power and Utility Company (APU) from existing shareholder Chakris Kajkumjohndej.
APU is a privately held company based in Myanmar and Thailand which operates in the development of utility plants and the provision of electricity.
APU has signed a memorandum of understanding (MOU) with the Government of Myanmar to act as an electricity and utility provider of Dawei (the capital city of the Tanintharyi region in Myanmar) and its surrounding cities.
APU has also signed an agreement
HSBC’s North West leverage finance team has played a key role in supporting three acquisitions made by the Manchester-based Concept Life Sciences Group, a newly formed scientific laboratory and consultancy business.
Following backing from Equistone Partners Europe, which has taken a majority stake in the group, Concept Life Sciences has acquired Scientific Analysis Laboratories (SAL), Resource & Environmental Consultants (REC) and Peakdale Molecular.
The group will led by executive chairman Michael Fort and chief executive Alan Morgan.
HSBC acted as joint mandated lead arranger for the senior acquisition debt facilities to support the transaction, alongside Lloyds Banking
Horizon Technology Finance Corporation has led a USD25 million venture loan for mBlox, one of the world’s largest providers of A2P (application-to-person) text messaging.
The venture loan was fully funded at closing, with Horizon funding its commitment of USD10 million. mBlox will use the funds to support its continued growth.
"We are excited to add mBlox to our quality investment portfolio," says Gerald A Michaud, president of Horizon. "The company's rapid revenue and earnings growth is directly related to its global leadership in the expanding, multi-billion-dollar A2P messaging market. As an industry pioneer, mBlox has created a cloud-based mobile
Private equity firm Thoma Bravo is to acquire Sparta Systems, a provider of enterprise quality management solutions (EQMS), from current investors Summit Partners and Altaris Capital Partners.
Financial details have not been disclosed, and the transaction is expected to close in the third quarter of 2014.
“We are excited about the Sparta Systems acquisition due to the compelling opportunities for growth, both organically and from additional acquisitions that enhance the company’s offerings,” says Scott Crabill, a managing partner at Thoma Bravo. “As a proven EQMS leader with a strong customer base and a defensible position in the industry, it
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