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Actis, a pan-emerging market private equity investor, has acquired the majority interest in three power assets in Cameroon from The AES Corporation.
Actis will pay USD202 million net of closing price adjustments for a 56 per cent stake in Cameroon’s national integrated utility, Société Nationale d’Electricité (SONEL), and in two independent power plants, Kribi and Dibamba.
SONEL provides 933MW of generation and supplies electricity to over 800,000 customer connections throughout the country, while Kribi and Dibamba contribute a combined 302 MW towards Cameroon’s generation capacity. Actis will own SONEL, and Globeleq, Actis’ wholly-owned private power company, will directly own
Peak Rock Capital has appointed Ryan Fitch as a senior vice president of the firm, responsible for leading the business development group.
Fitch will work closely with the firm's leadership team to further develop Peak Rock's growing relationships.
Fitch previously spent nearly a decade as part of the business development team at Platinum Equity, where he was responsible for deal origination and managing strategic relationships with corporate sellers, investment banks and other intermediaries.
Anthony DiSimone, chief executive officer of Peak Rock, says: "We are delighted to welcome Ryan to the team and look forward to using his industry
RLJ Equity Partners, an affiliate of The RLJ Companies, has acquired EnviroVac Holdings, a provider of industrial cleaning, environmental services, and on-site maintenance support.
EnviroVac uses state-of-the-art equipment to provide industrial vacuuming, hydroblasting, watercutting and inspection services for customers who participate in the pulp and paper, chemical, steel, oil and gas, power generation and other industrial business sectors.
"EnviroVac is a trusted brand in the industrial services industry," says Jerry L Johnson, managing director of RLJ Equity Partners. "The company has a safety-first approach in providing the most innovative environmentally safe technology and quality operations to its clients and
Private equity firm Permira has held the final close of its global private equity fund, Permira V, at the hard cap of EUR5.3 billion (USD7.2 billion).
The new fund will follow Permira's long-term investment strategy of identifying market-leading businesses that benefit from structural growth drivers and have significant potential to expand internationally.
Origination will continue to be led by the firm's five global sector teams – consumer, financial services, healthcare, industrials and TMT – with an emphasis on identifying proprietary opportunities.
Permira V has already committed capital to six growth companies. These investments include iconic footwear brand Dr.
Kingdom Holding Company (KHC) and Caisse des Dépôts International Capital (CDCIC) have signed a memorandum of understanding to establish an investment vehicle seeking to develop Saudi projects and ventures.
The KHC-CDCIC platform will help advance bilateral economic co-operation and trade and to facilitate access to long‐term capital in both countries by companies engaged in economic cooperation between Saudi Arabia and France.
To advance this partnership, a working group was formed, co-chaired by HRH Prince Al Waleed Bin Talal Bin Abdulaziz Al Saud, chairman of KHC and Laurent Vigier, CEO of CDCIC.
The partnership will seek attractive investments across
The EU has published MiFID II in the Official Journal (OJ) following more than two and a half years of consultation and negotiation.
Publication in the OJ sets the date on which MiFID II enters into force as 2 July 2014.
The rules enter into effect 30 months later, meaning that all EU firms undertaking investment business or providing investment services to clients must be fully compliant with MiFID II by 2 January 2017.
Crispian Lord, financial services risk and regulatory partner at PwC, says: “Although final detailed rules will not be available until the end of 2015,
Pamlico Capital and the management team of Clarity Telecom have entered into a definitive agreement to purchase broadband assets in Rapid City and Sioux Falls, South Dakota from WOW! Internet, Cable & Phone.
Post-close, the Clarity team will continue to provide high-speed broadband, video and voice services to more than 50,000 residential and commercial customers in South Dakota.
Pamlico initially partnered with Clarity’s management team in 2003 to build NewWave Communications, a rural broadband company that grew to serve 160,000 subscribers. After successfully exiting NewWave through transactions with Time Warner Cable (2011) and Rural Broadband Investments (2013), Pamlico partnered
Egyptian investment bank CI Capital Holding (CICH) and alternative asset manager Duet Group have launched the Duet-CIC Egypt Opportunities Fund to invest in the Egyptian economy.
The partners believe that Egypt will position itself as the region’s leading investment destination in the medium-to-long term and have agreed to launch a private equity fund with up to USD300 million of committed capital to invest in Egyptian businesses, injecting growth and buyout capital into the economy. The focus will be on consumer and consumer-related industries.
The alliance will provide an opportunity for international capital to participate alongside domestic investors and will
WHEB Partners, a private equity fund manager specialising in growth opportunities in energy and resource efficiency technology markets, has appointed Florian Strehle as its new Munich-based partner.
Strehle has eight years’ private equity experience, six of which were at AUCTUS Capital Partners, a German private equity fund manager where he was a member of the management board.
Before that he was at 3i Group where he was an associate in the firm’s technology investment team.
He also spent four years as a management consultant with McKinsey & Company.
Together with WHEB’s other two Munich-based partners, Jörg Sperling
Altium has appointed Oliver Vaughan as an assistant director in its London office.
He joins from Livingstone Partners where he was also an assistant director, having previously trained as a chartered accountant with Deloitte.
Vaughan is an experienced M&A practitioner with broad experience across various sectors, particularly industrials.
The appointment of Vaughan is part of Altium’s continued expansion of its London presence in response to increasing market activity and deal flow. Other recent recruits include Christopher Jones, who was hired as managing director at the end of 2013, and Octavia Wayne, who joined the team as an analyst in
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