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A year after its formal launch, the London Fund has secured over GBP28m of investment for 13 London businesses representing an investment rate in excess of one per month.
The companies include:
• Appear Here – an online service connecting landlord’s vacant spaces to people with ideas
• Boticca – an online marketplace for luxury fashion accessories
• Gousto – a home delivery service
• Somo – the world’s largest independent, full service mobile marketing specialist
• Wool and the Gang – a global fashion brand
• MBA & Company – a service connecting short-term consultancy projects to high quality independent professionals in that field
• Masabi – mobile
Private equity and management service firm Current Capital has appointed two more executives to its advisory board.
They are Salvatore D. Fazzolari, the former chairman, president and chief executive officer of Harsco Corporation, and Mary Jane Raymond, chief financial officer of II-VI Incorporated.
Jonathan F Foster, founder and managing director of Current Capital, says: “Sal and Mary Jane are more unique additions to our Advisory Board who will help us build on our first private equity investment, Stackpole International, an automotive supplier that we sold late last year creating a very significant return for our investors, and our now
Carrick Capital Partners has made a majority investment in the Procura Group of Companies, a multinational organisation specialising in healthcare software and solutions.
Procura will remain under the leadership of Scott Overhill, who has been promoted from president to chief executive officer.
Procura is a software vendor for home care, hospice, community, aged, disability and residential care organisations across the US, Canada and Australia. The organisation is comprised of Procura Home Care Solutions, Progresa Healthcare Systems, ContinuLink Homecare Software and Procura Australia (formerly PeoplePoint Solutions).
"Procura is well positioned to become a dominant player in the global home
London-based turnaround investor Rcapital has invested in McArthur, a wholesaler and distributor of building, agricultural, steel and security fencing products.
Based in Bristol with over 250 staff in eight sites across the UK, McArthur was founded over 170 years ago by the McArthur family.
Following a number of difficult years McArthur has restructured its business with the support of Rcapital and led by the chief executive Sam McArthur.
Sam McArthur says: “This deal has enabled us to create a solid platform for the future of our business. We have successfully resolved the underperformance of our Irish and manufacturing
The Carlyle Group has agreed to acquire a majority interest in Talent Partners, a New York-based talent payroll, production support services and rights management solutions provider to the advertising industry.
The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2014. Equity for the investment will come from the Carlyle Equity Opportunity Fund.
In its nearly 50-year history, Talent Partners has grown from a specialty payroll company focused on commercial talent to a provider of more than 125 services, including talent negotiations and business affairs, traffic and clearance, rights and royalty
Northleaf Capital Partners has held the final closing of Northleaf Secondary Partners (NSP), its specialist private equity secondaries fund.
With strong support from both new and existing Northleaf investors, NSP raised USD255 million, surpassing its initial USD200 million target.
NSP will capitalise on attractive opportunities in the current market, building on Northleaf’s ten-year secondaries investment track record.
With the closing of NSP, Northleaf now has approximately USD600 million of capital available for secondary investments across its global private equity programme.
“Secondary investing has been a return enhancing component of our global private equity program since 2003,” says
Michelle Chance, Partner, Employment and Partnership law, at Kingsley Napley LLP comments on the Supreme Court judgment determining that LLP members should be defined as workers in respect of the Public Interest Disclosure Act 1998…
This is good news for both LLPs and LLP members. LLP members have access to financial documentation and management information that most employees would not see, and are therefore more likely to be aware of wrongdoing than more junior members of staff. LLPs should encourage a culture of compliance and transparency in which members are valued for doing the right thing and bringing wrongdoing to their
Institutional investors in Europe plan to reallocate their portfolios in the next 12 months adding equities and alternative investments at the expense of developed market sovereign debt, says AllianzGI.
A new survey has found that, like their global peers, around 30 per cent of European investors said they want to increase their allocation to international equities, with just six per cent wanting to reduce their position.
Emerging market equities are also on the buy list of 21 per cent of the European respondents (global 25 per cent), with just five per cent (global eight per cent) looking at reducing their allocation. Investor
Funds advised by CVC Capital Partners, in partnership with the existing management team, are to acquire a majority stake in The Executive Centre from Headland Capital Partners.
Funds advised by Headland will retain a minority ownership in the business.
The Executive Centre, founded in 1994 by current chairman and CEO Paul Salnikow, is a premium serviced office provider in Asia, with 61 centres across 20 major cities in 10 countries across the region, generating over USD100m of revenues.
Headquartered in Hong Kong, the business operates serviced offices in key Asian countries, including China, Hong Kong, Japan, India, Korea,
Neuberger Berman Asia has appointed six marketing and sales executives in Asia, as the firm grows to meet client demand in the region.
Marco Tang joins the Hong Kong office from Baring Asset Management as head of retail distribution for mainland China and Hong Kong.
Katherine Low, based in Singapore, joins from Blackrock to spearhead Neuberger Berman's retail distribution in Singapore.
Elina Choy, formerly with First State, has been named head of Asia Pacific product and marketing, based in Hong Kong.
Kay So, previously with AllianceBernstein, has joined as a marketing director in Hong Kong.
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