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Private equity fund GCF has acquired 100 per cent ownership of Mktvari HPP project, a Georgian hydro power plant project, from JSC Caucasus Energy and Infrastructure (CEI).
The project’s total investment value is USD98m and its objective is to develop a hydro power plant with 53.3MW of total installed capacity.
An initial stage of construction work costing approximately USD22m has already been completed and GCF intends to commence the next phase immediately, with all works estimated to be finished by the end of 2017. This would include construction of the power house and reservoir, completion of tunnelling works, enlargement
Law firm Reed Smith has appointed partner Winston Penhall and associate Matt Evans to its funds group in London.
Both Penhall and Evans re-join Reed Smith following their moves to KPMG, in 2012 and 2013 respectively, where Penhall was the founder and leader of the KPMG funds law team.
Penhall has a broad funds practice, advising on the formation of alternative investment funds, including: hedge funds and private equity funds; the establishment of onshore and offshore investment managers; the review and negotiation of fund wrapped and managed account investments for institutional investors; and the drafting and negotiation of manager
Private investment firm Water Street Healthcare Partners has invested in Orgentec Diagnostika, a specialty diagnostics company headquartered in Mainz, Germany.
The investment expands Water Street's global presence in the growing specialty diagnostics sector, particularly in Europe and emerging markets.
Scott Garrett, former chairman and CEO of Beckman Coulter and senior operating partner with Water Street, will serve as chairman of Orgentec.
Water Street has committed equity to both acquire a majority position in Orgentec and invest in future acquisitions. Orgentec currently specialises in diagnostic assays for autoimmune and infectious diseases. It offers a portfolio of more than 300
Private equity fund EnCap Flatrock Midstream (EFM) has held the final closing of EnCap Flatrock Midstream Fund III.
Substantially oversubscribed, the fund exceeded its USD2.25 billion target and reached its USD3 billion hard cap within four months.
Fund III received strong support from existing limited partners of its predecessor funds and also attracted many new investors, including well-known corporate and public pension plans, family offices, insurance companies and university endowments and foundations.
EFM has a strong track record of investing value-added growth capital in the midstream segment of the North American energy industry. EFM III will follow the
Middle-market private equity firm American Industrial Partners (AIP) has completed the acquisition of SG Holdings I (SERVA) from Wexford Capital, an SEC registered investment advisor with over USD4 billion of assets under management.
Founded in 1991, SERVA is a designer and manufacturer of fracking equipment, coiled tubing equipment, and well intervention and workover equipment, all of which are integral to the development of high-growth unconventional crude oil and natural gas resources in North America and increasingly in China.
The company's products are sold primarily in the US and to an increasing degree in Asia.
SERVA manufactures and
European private equity performance showed positive returns across all investment horizons for the period ending 31 December 2013, according to Thomson Reuters’ Private Equity Performance Index.
One year returns, which are most affected by the current market environment, moved in a positive direction from June 2013, registering a 3.8 percentage point increase to 11.80 per cent.
Buyout funds saw positive returns across all investment horizons, with strong double-digit returns in the one, 10 and 20-year time horizons. Medium buyout funds in the 20-year time horizon performed best, with returns of 23.25 per cent.
Venture capital fund returns also
Atlantic Fund Services (AFS) has launched services for funds in Austria – the company’s seventh market around the world and its third new market in 2014.
As well as its home market, the Polish company also offers its services in Luxembourg, the US, the Czech Republic, Slovakia, Liechtenstein, and now Austria.
“In the past three years we have taken huge steps down the path of international growth of the company. Not long ago we were present only in Poland and the US, we are now in seven markets,” says Roman Lewszyk, CEO of Atlantic Fund Services operations in Europe.
Private equity firm SFW Capital Partners has made a strategic investment in Essen BioScience.
SFW is partnering in this investment with Essen’s co-founders, Kirk Schroeder and Brad Neagle, who serve as the current president and vice-president of operations and engineering respectively, and its management team.
With SFW’s support and resources, Essen plans on making significant investments to further expand its applications and assays, develop and introduce innovative new products, and continue to enhance its sales, service and support capabilities.
Essen BioScience, based in Ann Arbor, Michigan, is a provider of critical analytical instrumentation, software, reagents and services used
Angus Taylor has joined JTC Group as group head of fund services.
He joins JTC from Herald Trust Company, where he worked as the managing director since 2012.
Prior to that, Taylor’s role was deputy chief executive officer for Kleinwort Benson Private Bank.
Taylor will primarily be responsible for leading the growth strategy for the JTC Fund Services division across all of the group’s international jurisdictions.
JTC Group's international funds team administers both closed and open ended funds established in Guernsey, Jersey, Luxembourg and the UK, as well as other non-domiciled fund structures in financial centres such
Quarton Partners has acted as exclusive financial adviser to Victor Oolitic Stone Company, d/b/a Indiana Limestone, on its acquisition by Wynnchurch Capital.
Indiana Limestone is a North American quarrier and fabricator of dimensional limestone.
Headquartered in Oolitic, Indiana, it is one of the world's richest limestone deposits, owns and operates quarries covering over 4,000 acres and holds reserves well in excess of 100 years supply in its eight main quarries.
Wynnchurch Capital, headquartered in the Chicago suburb of Rosemont, Illinois with offices in Detroit, Toronto, and an affiliate office in Montreal, was founded in 1999 and is a
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