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SpotHero, a mobile app helping drivers reserve parking on demand, has secured a Series A investment of USD4.5 million.
The funding round included participation from Chicago Ventures, Bullpen Capital, Battery Ventures, OCA Ventures, Pritzker Group Venture Capital, Lightbank, G2T3V, e.ventures, Draper Associates and 500 Startups.
Mike Gamson of LinkedIn will join SpotHero's board of directors, which includes Sam Yagan (CEO of Match.com) and experienced venture capitalist Sam Guren.
SpotHero's free mobile app for iPhone and Android helps drivers find parking in convenient garages and lots, compare affordable rates and reserve spots in advance. The app helps garages fill
King & Wood Mallesons SJ Berwin advised Antin Infrastructure Partners on the structuring of its second fund, Antin Infrastructure Partners II.
The fundraising was completed in less than a year and exceeded the initial target of EUR1.5 billion, reaching its hard cap of EUR2 billion.
The fund, Antin Infrastructure Partners II, gathered more than 60 international investors (existing and new) including pension capital funds, insurers, assets managers and sovereign wealth funds.
Ed Hall, investment funds partner at King and Wood Mallesons SJ Berwin, says: “Antin went to market with an innovative UK/French parallel structure, which investors found very attractive.
The exponential growth of Big Data will trigger a sharp rise in UK financial services firms being investigated, and potentially fined, by regulators, according to Data-as-a-Service provider Anomaly42.
The warning follows a string of high-profile cases of international banks facing multi-million pound fines for breaking AML (anti-money laundering) rules and sanctions violations.
Soon, however, this heightened level of forensic investigation by legislators and regulators globally is set to cascade down through the financial services sector as a whole — and affect even the smallest firms.
Big Data platforms are increasingly being used by regulators to automate the process of
Insurance provider Apsley Specialty has joined forces with Lloyd’s Pembroke Syndicate 4000 to provide capacity for its insurance offering to the alternative asset management sector.
Pembroke, a wholly owned subsidiary of Ironshore Inc, operates as a syndicate within the Lloyd’s of London insurance market and is a provider of specialty insurance coverages, including those pertaining to financial institutions and, in particular, asset managers.
The Alternative Investment Management Directive (AIFMD) now dictates that many hedge fund managers must, for the first time, have professional indemnity insurance coverage in place. Apsley is the first firm in Europe to have designed an
Polaris Private Equity is to sell IT security and infrastructure business AddPro to European private equity firm Perusa.
In 2005, Polaris acquired a majority shareholding in Swedish AddPro, and the company has experienced significant progress through organic growth and an acquisition of the Danish IT company SNEX in 2012.
AddPro is a specialist in the areas of IT security and efficiency in both Sweden and Denmark.
”We founded AddPro in 2000 with a geographic focus on Southern Sweden, and the company grew rapidly and successfully to Gothenburg and Stockholm. In 2012, we established the company in Denmark, and
Osprey Capital’s second investment, following a re-financing of CAERUS Capital, has generated a return of 1.7x capital for investors to date.
Osprey retains a diluted minority holding.
The investment in CAERUS Capital Group, a specialist fund management and advice firm for advisers and consumers, was made in 2009. During this time the company has grown with more than GBP650 million now invested on behalf of clients.
Ronan Kearney, chairman of Osprey Capital Limited, who stepped down from the board of CAERUS Capital in November last year, says: “CAERUS Capital Group has been an excellent investment for Osprey Capital,
Wexford Capital has selected SS&C GlobeOp to provide an expanded suite of services including middle- and back-office, regulatory reporting and investor solutions for the firm’s private equity funds and hedge funds.
Wexford, headquartered in Greenwich, Connecticut, manages over USD4 billion in assets.
SS&C GlobeOp previously delivered various back-office services to support Wexford's hedge funds. The terms of the revised agreement will allow Wexford to leverage many of SS&C's capabilities to act as an outsourced operational, middle- and back-office provider and fund administrator. SS&C will hire a number of Wexford employees to augment the team that will service Wexford.
Los Angeles-based private equity firm Levine Leichtman Capital Partners (LLCP) has partnered with management to complete the acquisition of Smith System Driver Improvement Institute.
Based in Arlington, Texas, Smith specialises in accident avoidance training for fleet vehicle drivers.
Smith has trained millions of drivers in over 100 countries and in 22 languages through its on-road, classroom, e-learning and new technology-based training and driver improvement programmes.
Smith is the third investment from Levine Leichtman Capital Partners Fund V.
Lauren Leichtman, co-founder and CEO of LLCP, says: "Smith System is a truly unique company offering its customers programs and
Mid-market M&A firm Cavendish Corporate Finance has advised on the sale of The Communications Agency (TCA) to Communisis, a provider of personalised customer communication services.
TCA, which was founded over 25 years ago, is an agency that specialises in brand response and customer relationship marketing. The company’s clients include RBS, American Express, Vue and Argos.
The acquisition offers scope for growth and revenue synergies with the Communisis’ existing client portfolio and the cross-selling of other marketing services in social media, video, digital development and content marketing.
TCA, which is based in London, has 42 employees, all of whom
Private equity firm Palatine has completed the management buyout of Surrey-based seismic consultancy firm The EPI Group.
Palatine is backing the incumbent management team, led by CEO Edward Bowen. As part of the deal Ian Langley, who Palatine backed as chairman of Air Energi, will join the board.
This deal is the sixth investment from Fund II, which held its final close in June 2013 at GBP150m.
EPI is a provider of consultancy services to the energy industry, covering a broad range of technical disciplines including specialist knowledge of seismic quality control. EPI provides consultants whose specialist capabilities, experience and
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