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Milbank, Tweed, Hadley & McCloy has appointed Michael “Ben” Garcia as special counsel in the firm’s global securities practice group in the New York office.
Garcia brings corporate finance and capital markets experience to Milbank.
He regularly advises issuers and underwriters in cross-border securities offerings, with a deal book that spans from Latin America to Europe, Asia and North America. He has counselled leading financial institutions and investment banks, as well as private equity firms and corporate issuers. In addition to advising on debt and equity offerings, he has advised on M&A transactions, commercial financings, leveraged buyouts and IPOs.
One Rock Capital Partners, a lower middle-market private equity firm, has held the final closing of its first fund.
The firm accepted USD431.5 million in total capital commitments, surpassing its fundraising target of USD300 million.
This is the first private equity fund raised by One Rock, which targets controlling stakes in lower middle-market companies in North America, primarily in situations characterized by complexity.
One Rock was formed in 2010 by Tony W. Lee and R. Scott Spielvogel, formerly managing directors at Ripplewood Holdings.
Mitsubishi Corporation is One Rock's strategic partner and largest investor.
Managing partner Scott
GI Partners, a middle market private equity firm, has completed the final closing for GI Partners Fund IV at the fund's USD2 billion hard cap, surpassing its USD1.5 billion fundraising target.
Fund IV will continue the investment strategy GI has pursued since inception, and focus primarily on control-oriented, deep value investments in North American middle market companies.
Rick Magnuson, founder and executive managing director of GI Partners, says: "We are grateful for the strong support from our existing investors and are very pleased to welcome a highly regarded set of new investors to GI. We believe the interest expressed
GITP Ventures, an international private equity firm led by serial entrepreneur and investor Michael Puscar, has invested in MYTIC SAS.
MYTIC's software product, Finaxion, reduces the barrier to obtaining a loan by connecting consumers with multiple lenders quickly and easily.
"The existing paradigm fails the consumer," says Adrien Battistolo, co-founder of MYTIC. "Our technology connects those consumers directly with banks to facilitate more loans for both."
In Colombia, where MYTIC is headquartered, inflation has remained near historic lows while interest rates for loans remain extraordinarily high. The official Colombian inflation rate in February 2014 was 2.32 per cent,
Cordium, a provider of compliance consulting, accounting, tax and software, is partnering with financial services technology specialist Indus Valley Partners (IVP) to help clients meet the Alternative Investment Fund Managers Directive’s (AIFMD) stringent Annex IV reporting requirements.
The solution already fully covers Form PF reporting.
The reporting solution enables investment managers to meet their global regulatory reporting needs from a purpose-built cloud platform and fully supports Annex IV reporting under AIFMD, as well as Form PF.
Alternative investment fund managers (AIFMs) that manage or market an AIF into the European Union or EEA will be obliged to
The Presidio Group, a personal and corporate financial services firm, has named eight professionals as equity partners, bringing the total number of employee-partners to 15.
The new employee-partners are: Bruce Brugler; Colin Carter; Antonio Casal; Jerry Deren; Tom Emig; Pablo Ferreri; Kelly Lawson; and, Barry Rudolph.
“Growing our partnership base not only aligns the interests of the senior management team at The Presidio Group, thus ensuring a unified and cohesive organization, but also further strengthens the interests of the firm with those of our clients,” says Karl Schade, chief executive officer and managing director of The Presidio Group. “We
PAI Partners, a European private equity firm headquartered in Paris, has made a binding offer to purchase Euro Media Group (EMG), a provider of audiovisual facilities and services.
EMG’s founders and original shareholders, including Sofinim (Ackermans & van Haaren group) and Banijay Holding, will reinvest alongside PAI Partners in the proposed transaction, together with the senior management team.
Created in 1983 as Euro Television by Chantal Barry, Jean-Pierre Barry and Luc Geoffroy, EMG offers a large range of services to broadcasters and producers for the production and delivery of audiovisual content: studios; outside broadcasting trucks; media centres; and specialised
Actis, the pan-emerging markets investor, has established Credit Services Holdings (CSH), a buy-and-build credit services business.
CSH’s first investment will be acquiring 100 per cent of Compuscan, the largest independent credit bureau in Africa.
Actis will be investing in CSH alongside the Compuscan management team, who will continue to manage the Compuscan business. Actis plans to invest USD100m into the platform.
To assist in the build-out of the platform, Michael Jordaan, formerly CEO of South Africa’s First National Bank and a leading figure in the African financial services industry, has been appointed as chairman of CSH.
Founded
Fund managers believe that they must demonstrate personal confidence in their ability to perform by making greater dollar contributions to their own funds, a report suggests.
The Fund Formation and Incentives Report, released by Private Equity International (PEI) and Schulte Roth & Zabel (SRZ), provides analysis of the issues affecting general partner operations, such as waterfall structures, key man clauses, compensation and recruitment.
The survey of 130 fund managers found that a firm's reputation and its track record are the most important issues for LPs when selecting a fund manager. Because the identity of key persons is central to
Mansa Capital Management, a private equity firm focused on the USD2.5 trillion US healthcare market, has received a Green Light letter from the US Small Business Administration (SBA) to continue its application process to operate a Small Business Investment Company (SBIC).
The Green Light letter enables the firm to move toward application for licensure of a fund it manages as a SBIC.
The receipt of a Green Light letter does not, however, obligate the SBA to issue a SBIC license.
“While there are certainly no assurances, being Green-Lighted has some immediate advantages,” says Mansa Capital managing partner and
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