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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
Linedata has released a new version of its transfer agency software Linedata Mshare, which is designed to address client concerns over both regulatory compliance and how to attract new business.
This release includes FATCA withholding tax capabilities, Anti-Money Laundering (AML) updates and enhanced private equity functionality.
The new release of Linedata Mshare ensures that its clients are regulation-ready with its automated FATCA withholding tax capabilities and AML updates, two areas of regulation that impact significantly on transfer agents, fund administrators and the investment market as a whole. It also enables Linedata’s clients to expand their own client base beyond
Private equity firm Genstar Capital is to sell Evolution1, a specialist in consumer directed health (CDH) payments and technology, to WEX Inc for USD532.5 million.
Evolution1 provides software, payment and mobile solutions that administer and manage consumer directed healthcare accounts. The company's administrative software solutions, driven by patented technology, allow more than 10 million consumers to spend electronically through prepaid funds in CDH accounts such as Health Spending Accounts (HSAs), Flexible Spending Accounts (FSAs), Defined Contribution, and more.
Evolution1's cloud-based solutions provide a single end-to-end user experience that reduces costs, saves time and simplifies the business of healthcare. Through its
First Reserve has closed its second energy infrastructure fund, First Reserve Energy Infrastructure Fund II, at USD2.5 billion, surpassing its initial target of USD2 billion.
First Reserve now has over USD4 billion dedicated to investing in energy infrastructure opportunities.
The firm received support from a diversified base of limited partners including substantial support from its existing LPs as well as new investors from around the globe.
FREIF II will continue to focus on long-lived energy infrastructure investments throughout the energy value chain, including contracted midstream, such as pipelines, storage and LNG facilities; contracted power, which includes both renewable
IBS Capital has sold its equity investment in IQuum to Roche.
IBS made its initial capital investment in IQuum in 1999 shortly after the firm was founded and has remained its largest outside investor over the past 15 years.
David Taft, the president of IBS, also served as a director on IQuum's board of directors since 1999. During this period, IQuum developed groundbreaking technology in molecular diagnostics.
Taft says: "IQuum's Laboratory-in-a-tube (Liat) System will dramatically improve the point of care segment of the diagnostics market and will bring significant benefits to Roche. In combination with Roche's extensive technological,
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