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Energy-focused private equity firm First Reserve’s Fund XIII has entered into a strategic cooperation with Hainan Zhenghe Industrial Group.
The parties plan to pursue oil and gas investment opportunities in China and Central Asia.
In addition, Zhenghe will act as a potential source of capital in support of First Reserve's participation in North American oil and gas upstream projects and will invest as a limited partner in First Reserve Fund XIII.
Zhenghe is a publicly listed company in China and focused on oil and gas exploration and production operations.
Financial terms of the agreement were not disclosed.
HighWire Press, a technology service provider to scholarly publishers and an auxiliary unit of Stanford University Libraries, has received a significant equity investment from private equity firm Accel-KKR.
The new partnership enables HighWire to further its investment in strategic initiatives and digital innovations in internet-based publishing.
The investment from Accel-KKR will enable HighWire Press to operate as a standalone enterprise. Accel-KKR will own a majority interest of the company and Stanford University will maintain a significant minority stake. Michael A. Keller, university librarian at Stanford, will serve as the Stanford representative on the HighWire Press board of directors.
Metric Capital Partners (MCP), the European private capital group, has invested in HTI High Tech Industries.
HTI Group, listed on the mid-market segment of the Vienna Stock Exchange and headquartered in St Marien, Upper Austria, is an international technological manufacturing group specialised in lightweight components in the fields of aluminium pressure die casting and plastic injection moulding.
HTI Group is active at four locations in Austria and Slovakia and has close project partnerships and established business relations with customers across Europe.
MCP’s investment supports the recapitalisation of HTI Group, which was achieved in close cooperation with its existing financing partners
Touch technology specialist Qeexo has closed its Series A funding round with USD2.3 million, led by Sierra Ventures.
Qeexo will use the funding to accelerate market adoption of FingerSense, the company's mobile software which distinguishes between touchscreen input from a fingertip, knuckle, nail or stylus.
"OEMs are always looking for software innovation that will radically improve the way devices are used, while adding power and simplicity simultaneously," says Sang Won Lee, Qeexo co-founder and CEO. "The current state of touch technology is not the pinnacle of the touchscreen experience. Multi-touch has been around since 2007 and we're elevating the
Jersey Finance is hoping that a recent increase in visits to the Gulf by both the regulator and senior government ministers will boost finance business attracted from the region.
In addition to the recent activity which included visits to the United Arab Emirates, Qatar and the Kingdom of Saudi Arabia, and an Arab Ambassadors’ visit to the island, Jersey Finance is also a co-sponsor of both the Super Return Conference in Dubai, a three day event in October which attracts senior delegates from the region and a conference staged by Euromoney in Qatar later in the year.
Jersey Finance
The private equity market is recovering after a difficult four years, with a report from White & Case revealing a total of 702 private equity exits in 2013, the highest number since the peak of the market in 2007.
Exit values reached EUR65.3 billion; almost triple the value of 2009’s EUR27.3 billion. Buyout activity has bounced back too, with 912 buyouts worth EUR73.5 billion in 2013.
As economies in Europe have stabilised, and concerns around the Euro crisis subsided, US sponsor attitudes have changed. 2013 saw a total of 141 European buyouts with a US sponsor worth EUR18 billion,
Invesco Real Estate (IRE), the global real estate investment manager, has made its first investment in the UK private rented sector (PRS) in partnership with be:here, Willmott Dixon’s PRS company.
Under the deal, IRE will acquire 118 PRS units for GBP32.5m in Hayes, West London, on behalf of a UK local authority pension fund.
The transaction marks IRE’s third European multi-family project since starting its residential acquisition programme in Q3 2013. It follows closely on the heels of IRE’s two projects in Germany for GBP106m (circa EUR130m) and the appointment of John German, IRE’s director of residential investments, to
Eco-Stim Energy Solutions, an environmentally-focused oilfield service and technology company, has closed on a USD22 million convertible debt facility with an investment fund managed by Albright Capital Management (ACM).
Under the terms of the agreement, ACM is providing Eco-Stim with a USD22 million convertible debt facility, which will be available to the company for two years.
In addition, Eco-Stim has granted a 30 day option to ACM to purchase USD8 million of the company's common stock in a private placement for USD6 per share. ACM will initially appoint one member to the EcoStim board of directors and if the
The Institutional Limited Partners Association (ILPA), SunGard, AlpInvest and PricewaterhouseCoopers (PwC) have all joined The AltExchange Alliance, the global private equity group looking to implement a common data standard.
As the Alliance’s focus shifts from formulating the standards to promoting widespread adoption, the participation of ILPA is important given the body’s previous work in campaigning for harmonised data standards within the industry.
Similarly, the inclusion of SunGard alongside founding member eFront means that two of the biggest tech providers in the private equity industry now stand behind the initiative.
Formed in May 2013, the Alliance has since seen
Following Argentina's agreement to resolve its USD9.7 billion in debts to Paris Club member nations within five years, American Task Force Argentina co-chairs Robert Shapiro and Ambassador Nancy Soderberg have declared their support for Argentina's pledge to act responsibly and encouraged the Argentine government to go further.
"The ultimate path to normalisation must also include negotiating Argentina's longstanding debts with its private creditors as well," says Soderberg. "Engaging private creditors is the next, necessary step to unlocking the Argentine government's remaining barriers to foreign capital markets. Taking that step will create tremendous and immediate benefits for the Argentine people."
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