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New York-based private equity firm GenNx360 Capital Partners has invested in Novel Ingredient Services, a specialty nutraceutical ingredient services supplier, in partnership with management.
Headquartered in West Caldwell, New Jersey, Novel was founded in 1995 and serves more than 400 customers in multiple product segments including sports nutrition, herbs and botanicals, meal replacement, and specialty supplements.
The transaction represents the second investment for GenNx360 Capital Partners' Fund II. Terms of the transaction were not disclosed.
Novel has experienced significant growth and has identified the opportunity to expand its services and capabilities to both its existing markets and complementary
Venture capital firm DFJ Esprit has launched an EIS fund which will back promising, fast growing UK start-ups while offering generous tax reliefs to investors through the Enterprise Investment Scheme (EIS).
EIS is the UK Government’s flagship tax initiative aimed at boosting investment in start-up and SME businesses. It offers 30 per cent income tax relief on qualifying investments, with no capital gains tax to pay on the proceeds.
Previous DFJ Esprit investments that have been part of its EIS co-investment scheme include Horizon Discovery, a Cambridge-based life sciences company which has announced its intention to seek an IPO;
Jersey Finance has appointed Richard Corrigan as its new deputy chief executive officer.
Corrigan (pictured), who joined Jersey Finance at the start of 2013, will continue to lead the organisation’s market development effort.
In his earlier banking career he held senior roles with both The Royal Bank of Scotland International and Barclays Wealth, working in a number of leading finance centres. Before moving to Jersey Finance, he was director for Barclays Wealth in Jersey.
Geoff Cook, CEO of Jersey Finance, says: “I am delighted that we have been able to fill this senior role from within the organisation.
Australian private equity and venture capital funds can play a significant role in supporting investment into around 30,000 more domestic businesses.
That’s according to a submission lodged to the Financial System Inquiry by the Australian Private Equity & Venture Capital Association Limited (AVCAL).
“Private equity funds are currently invested in fewer than 350 businesses in Australia – which means they presently have funding capacity to back less than two percent of the total investable pool of up to 30,000 businesses,” says AVCAL’s chief executive, Yasser El-Ansary.
The need to expand the availability of capital to support more Australian
Co-investment programmes have a substantial risk of generating poor returns, even with a reasonably sized co-investment portfolio, according to a study by Altius Associates.
Altius’ study empirically examines the risk of building a concentrated portfolio of private equity co-investments.
Using a sample of 886 realised US buyout and growth investments ranging from 1979 to 2010, it shows that with a co-investment portfolio comprising 10 assets there is a substantial probability that the entire portfolio would generate an IRR below zero per cent.
Furthermore, even with a 20-company co-investment portfolio it is still possible to lose significant capital as
SunGard has launched Investran 7, Data Exchange and Insight to provide better data transparency and reporting for general partners, limited partners, fund of funds managers, family offices and service providers.
By streamlining the management of information throughout a private equity firm, the new solutions connect front, middle and back-office operations, help improve overall data management and deliver operational efficiencies to the organisation.
Firms will also benefit from customisable interfaces that help provide further flexibility on how information is delivered to stakeholders internally and externally, including investors and regulators.
Delivered as a managed service, Investran's Insight provides transparency and
Levine Leichtman Capital Partners (LLCP) has partnered with management to complete the acquisition of Nobles Worldwide.
Based in St Croix Falls, Wisconsin, and founded in 1948, Nobles is a provider of flex chutes that are used in a variety of air, naval and ground military applications.
Nobles is the largest supplier in its industry to the US military and its allies across the globe. The company's products are used on over 40 military platforms.
The investment in Nobles will be the second investment out of Levine Leichtman Capital Partners Private Capital Solutions.
Lauren Leichtman, co-founder and CEO
Tim Farazamand, managing director at LDC, has taken over as chairman of the British Private Equity & Venture Capital Association (BVCA).
Farazmand (pictured) succeeds Simon Clark, managing partner at Fidelity Growth Partners Europe.
“It is a great honour to be taking over as chairman of the BVCA, especially at such an important time for both the industry and the economy, and I wish to thank my predecessor Simon Clark for all his hard work over the past 12 months,” says Farazamand. “We are just over a year away from the General Election and I want to ensure, along with Tim
Stratus Technologies is to be acquired by an affiliate of Siris Capital Group in a transaction valued at approximately USD352m.
"This is the right deal at the right time for Stratus," says Dave Laurello, president and CEO, Stratus Technologies. "It is a clear endorsement of our strategy, our products and our people. Together we will continue to transform Stratus and take our industry-leading technology and solutions to a broader market, including the cloud."
"We are impressed by Stratus' 30 year track record of providing always-on capabilities for customers' most mission critical applications and are excited by the company's strategy
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has formed a strategic partnership to host LiquidityBook’s complete buy-side solution, LBX, in the AbacusFLEX private cloud.
The partnership will offer AbacusFLEX clients access to LBX, which brings together order management, portfolio management, trading, network connectivity, compliance, and post-trade processing in one simple and reliable product.
LBX handles orders across asset classes and currencies as well as multiple prime brokers and is accessible 24/7.
LiquidityBook developed LBX to help clients adapt to a constantly evolving market environment by providing a platform that consistently utilises
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