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An affiliate of private equity firm HIG Capital has sold its portfolio company Vaupell Holdings to Sumitomo Bakelite for USD265 million.
Headquartered in Seattle, Vaupell develops and produces thermoplastic and composite solutions to the aerospace industry as well as niche commercial and medical applications.
“HIG has been a tremendous partner to Vaupell and has been instrumental in helping us establish and execute our growth strategy,” says Joe Jahn, chief executive officer of Vaupell.
"We are very proud of what we have accomplished together with the Vaupell management team,” says Jeff Zanarini, a managing director of HIG. “The company
Financial services private equity firm AnaCap Financial Partners has completed the buyout of AssurOne Group, a French digital insurance broker.
AssurOne specialises in the online distribution and management of personal insurance products, including motor and home policies.
Under the terms of the agreement, funds advised by AnaCap and AssurOne’s management team will acquire 100 per cent of AssurOne Group from financial investors Seventure Partners and Bpifrance, who have supported the growth of the business since 2006 and 2008 respectively.
Founded in 2004, AssurOne Group initially focused on the direct sale of insurance products as a single carrier supplier.
The Financial Conduct Authority (FCA) penalised British firms a total of GBP506.94m (USD770m) in 2013, according to research from Kinetic Partners.
The penalties handed down by FCA to individuals totalled GBP5.42m (USD8.23m) in 2013.
While the amount fined to individuals only accounted for slightly more than one per cent, the number of fines that the FCA brought against individuals (20) accounted for 44 per cent of the total number of cases during the same period.
Nick Matthews, senior member of forensic and corporate recovery practice at Kinetic Partners,
says: “Our research shows that British firms continue to be
Find out why Guernsey works as a fund domicile and service centre for US private equity managers, according to Fiona Le Poidevin of Guernsey Finance.
During the last decade Guernsey has built a strong reputation as a leading jurisdiction for domiciling and servicing investment funds, especially private equity.
Figures to the end of December 2013 show that the value of funds under management and administration in Guernsey reached nearly half a trillion US dollars, with the net asset value of private equity funds reaching more than $146 billion – a rise of 6.2% over the year.
Indeed, global
Ares Management’s private equity group has signed definitive agreements to acquire BBOG II Guarantor from EIG Management Company and Tailwater Capital, on behalf of their respective managed funds.
BlackBrush has a history of acquiring and developing oil and gas assets across South Texas, which is one of the most productive oil and gas basins in the US. With new capital provided in conjunction with the transaction, BlackBrush plans to further develop its more than 160,000 net (360,000 gross) acre position.
The transaction is expected to close in the third quarter of 2014 and is subject to customary closing conditions.
8 Miles, a pan-African private equity firm, has purchased a stake in Ugandan agribusiness Biyinzika Poultry International Ltd (BPIL) for an undisclosed consideration.
BPIL was established in 1990 and is the Ugandan market leader in the sale of poultry Day-Old Chicks (DOC) and specialised poultry feed, which is produced at its recently constructed feed mill and storage facility in Katega, Uganda.
The company has 21 outlets around Uganda and produces approximately 500,000 DOC per week.
Doug Agble, partner at 8 Miles, says: “The current market is fragmented with a few niche players and the investment from 8 Miles
Moelis & Company has established a private funds advisory business which will provide capital raising, secondary and other independent advisory services to private fund sponsors and limited partners.
This business significantly expands the firm’s financial sponsors’ capabilities, having advised on more than USD300 billion of sponsor-related transactions over the past five years, and enhances its offering to institutional investors.
The firm has four managing directors to lead the business. Dave Brown, Patrick S Dunleavy and Christopher D Kirsten will be based in the firm’s New York headquarters and Zaid Abdul-Aleem will be based in the firm’s Chicago office. Brown,
International legal, tax, fiduciary and fund services group Maitland has appointed David Kubilus to the newly-created role of head of business development, client management and marketing.
Kubilus (pictured), a US national, is an international executive with experience in both the US and Europe.
He will be based in Maitland’s London office, forming part of Maitland’s executive committee and reporting to CEO Steve Georgala.
For the past 16 years, Kubilus has worked for State Street and its affiliates in Boston and Luxembourg, most recently as head of business development in Luxembourg. Prior to State Street, he worked for American Express
Vistra, a provider of trust, corporate and fund administration services, has expanded its AIFMD depositary services in the Netherlands.
Vistra Netherlands has appointed Peter Soesbeek as a director to lead the expansion. He joins following a in corporate services groups and banking institutions, and has extensive experience in AIFMD depositary and structured finance services.
Sjaak ten Hove, managing director of Vistra Netherlands, says: “We are pleased to welcome Peter to the team. His appointment is a crucial step in the continued expansion of our depositary services as these become increasingly important.”
Soesbeek says: “Vistra has the ideal platform
GoldenTree Asset Management, an investment firm that manages alternative and traditional asset strategies for sophisticated institutional and high net-worth investors, has opened a Singapore office.
Shahriar Saadullah has been appointed as managing director to run business development in Asia Pacific. He reports to Kathy Sutherland, GoldenTree’s global business development head.
The Singapore office will initially focus exclusively on business development in permitted areas, although hiring investment professionals to operate from that location could be a future consideration.
“The opening of a Singapore office is an indication of our commitment to investors in the region and underscores the growing
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