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The environment for private equity growth remains favourable, according to feedback received from Red Rocks Capital GLPE Index constituents.
“Capital markets in the US and around the globe have remained relatively calm, creating conditions that have favoured both the deal making environment and the ability of private equity companies to realise profits through IPOs or through M&A strategic sales,” says Mike Trihy, manager of the GLPE Index at Red Rocks Capital.
“Overall, the management teams of GLPE constituents have maintained both a disciplined approach to investing and conservative debt levels. We believe that these factors make a compelling argument
PrivatEquity.biz, an internet trading platform which allows current and former employees who hold the securities of high-tech companies which were not issued yet to offer the private securities they own for sale, is now open for business.
PrivatEquity.biz's site, which connects private investors with current and former employees who hold the securities of private high-tech companies, was launched in Israel this week and is now open for registration to employees around the world.
Employees, former employees, service providers and founders who hold private high-tech companies' securities, can now offer their private securities for sale. The meaning for securities' holders,
Law firm Dechert has appointed Mark Browne as a partner with the firm’s financial services group in its Dublin office.
“We are delighted to have Mark join us,” says Peter Astleford, Dechert’s global financial services group co-chair. “Mark’s experience, dynamism and deep knowledge of the Irish and international investment funds sector will be an important addition to our expanding local and global capability. His experience in advising US, UK and international asset managers on their Dublin-based fund projects, combined with his offshore experience, will be invaluable in meeting the needs of our clients and adding to our capability to advise
State Street has appointed two senior executives to its alternatives investment solutions' (AIS) North American private equity fund services team.
Suresh Krishnamurthy and Cesar Estrada, both senior managing directors, will lead teams dedicated to servicing alternative fund of funds, limited partner, direct and hybrid structures.
They will report to Bhagesh Malde, head of private equity and real estate fund services for North America and Asia Pacific.
"The search for alpha, increased demand for transparency, risk management, real-time latency issues and regulatory complexity are putting pressure on alternative asset managers," says Malde. "Continued growth for direct and hybrid private
Initial public offerings (IPOs) raised close to EUR13bn in equity last year, matching the 10-year average in Europe in terms of both the number of deals and their total value, according to a report published by Standard & Poor's Ratings Services.
Titled "Inside Credit: Private-Equity Owners Lead The European IPO Resurgence As Company Valuations Improve," the report points out that private equity firms seeking exits from their investments are at the forefront of this revival in the IPO market.
Standard & Poor's European corporate research analyst Taron Wade says: "First, buoyant equity markets are making valuations attractive for companies
Euronet Worldwide is to acquire UK-based HiFX, a provider of online initiated international payments and foreign exchange services, for GBP145m or approximately USD242m.
Twenty five per cent of the purchase price will be paid in shares of Euronet stock and the balance in cash.
Euronet's existing revolving credit facility will be used to fund a portion of the cash consideration.
The acquisition allows Euronet to offer an account-to-account international payment service to high-income individuals and small-to-medium sized businesses, complementing Euronet's existing consumer-to-consumer money transfer business.
HiFX offers affordable exchange rates, security and a multi-channel platform which allows
Palatine Private Equity portfolio company Chase Templeton has completed the first in a new series of acquisitions with the purchase of Health Assist.
Health Assist, based in Kenilworth, specialises in company private medical insurance (PMI), employee benefits and group risk.
The acquisition will add GBP1.9m in annual premium income (API) to Chase Templeton’s business division.
The Health Assist business will be integrated with Chase Templeton’s business operations based in Blackburn. The firm employs nearly 60 staff and also has an office specialising in individual and family health insurance in Bridgwater, Somerset.
This acquisition is the first in
Rcapital, the London based private investment company, has bought Shopacheck Financial Services (SFS), the home collected credit business, from Welcome Financial Services.
The new deal will see SFS merge with Rcapital's existing home collected credit business, Morses Club Limited (MCL).
The revenue of the newly formed business is expected to be in the region of GBP80m.
Birstall-based SFS is currently the number two in the UK home collected credit market, behind Provident Financial. Combining MCL, currently ranked at number four, with SFS will form a new business with over 500 employees and 2,100 agents, creating the largest independent
International investment bank Altium has strengthened its UK team following the promotion of four senior staff.
Katie Hobbs has been promoted to director in the London office. She joined the firm in 2008 from Goldman Sachs and has worked on a number of transactions including the sale of Mentor to VINCI Energies and the sale of ActivInstinct to JD Sports.
Chris Hopwood is based in Altium’s Manchester office and has been promoted to director. He joined Altium in 2009 from HBOS and has worked on a number of deals including the MBO of Icelolly.com by Palatine Private Equity and
Catella has acted as advisor to The Carlyle Group in the sale of Globen City and Startboxen.
The buyer was property company Klövern, and the purchase price amounted to SEK3.8bn.
The sale is the largest transaction completed in Sweden thus far in 2014.
The deal includes the Arenan 2, 3, 6 and 8 properties, as well as the Startboxen 3 property in Solna.
“The sale of Globen City is the largest transaction so far this year, so it is clearly prestigious for us to have completed the sale with a good outcome,” says Anders Nordvall, head of
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