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European real estate fund manager Activum SG Capital Management has closed its third fund at EUR380m in record time.
Fund III will build on Activum’s momentum in finding, improving and selling under-performing real estate related assets in Europe.
Within six months Fund III was substantially oversubscribed due to strong existing investor support and new institutional demand spanning the Americas and Europe.
Saul Goldstein, Activum managing partner, says: “We have focused on steady platform growth and as a result we are seeing strong results across our portfolio of investments in office repositioning, specialty finance, and residential development in Berlin.
Waterton Global Resource Management has held the final closing of its flagship private equity fund, Waterton Precious Metals Fund II (Fund II), with total capital commitments of USD1.016bn.
With Fund II, Waterton Global aims to continue investing in the metals and mining space.
Fund II will generally target production and late-stage development assets in the precious metals sector that are located in politically stable jurisdictions, through acquisitions, joint ventures and partnerships.
"We are grateful for the significant level of support from our investors, who have provided a strong endorsement of Waterton Global's owner-operator business model," says Isser Elishis,
Omada Capita has launched a stock-based lending service, which allows clients to secure loans against the broadest range of listed shares and on flexible market terms.
The launch follows a trial of the service with selected clients over the past five months, with some GBP35m of loans disbursed backed by some GBP55m of share collateral.
The service is now being officially launched and will include bonds as well as equities and be rolled out to a much wider potential client base.
Omada is looking to significantly increase the scale of its stock-based lending service, with a new business
Private equity firm CVC Capital Partners has appointed John D Clark as a managing partner based in New York.
Clark (pictured) will focus on middle-market, growth-oriented private equity investments in the technology, software and technology-enabled business services sectors.
Clark comes to the firm from Welsh, Carson, Anderson & Stowe, a New York-based private equity firm, where he was a general partner, a member of the management committee and a director of Paycom Software, Peak 10, NEWAsurion, Savvis, Lytx and other companies.
CVC managing partner Chris Stadler says: "CVC's greatest asset is the strength and depth of our investment
West Partners has closed an investment in NoteVault, a San Diego-based provider of voice-to-text-based mobile reporting solutions for the engineering and construction industry.
Terms of the investment have not been disclosed.
NoteVault offers construction companies a cloud-based subscription solution that enables users to post real-time notes throughout the day by typing, texting, or speaking into a mobile device, such as a smartphone or tablet.
"We are very excited to be partnering with NoteVault," says Dennis O'Brien, president of West Partners. "We believe the firm has the best solution to allow construction companies to more efficiently manage their daily
Cinven has decided to roll its entire residual holding in Numericable into Altice following Altice/Numericable’s agreement to acquire SFr from Vivendi.
Cinven and Altice created Numericable via a series of acquisitions through a classic “buy and build” strategy, latterly in partnership with Carlyle.
Cinven (70 per cent) and Altice (30 per cent) initiated together in 2005 the creation of Numericable Group via the acquisition of Numericable in March 2005 and Altice One, acquired in November 2005.
The group consolidation took numerous steps involving five acquisitions and seven re-financings from 2005 to 2013.
By year end 2007, Numericable
Alternative mutual funds, also referred to as liquid alternatives or hedged mutual funds, are becoming a lot more popular with private fund managers. This has largely been driven by the requirement for hedge fund managers to register as investment advisers with the SEC. Prior to this, unregistered managers were not allowed to manage assets on behalf of US mutual funds. Now they can.
Last summer Fidelity’s Portfolio Advisory Service invested USD1bn in the Blackstone Alternative Multi-Manager Fund, in addition to joining forces with Arden Asset Management to introduce a multi-manager alternative fund. This is a big opportunity for fund of hedge fund
Private equity firm Encore Consumer Capital has completed the sale of its portfolio company, tarte Inc, to KOSÉ Corporation, a Tokyo-based global cosmetics business with a primary focus on Asia.
tarte is a natural cosmetics company based in New York.
Kevin Murphy, managing director of Encore Consumer Capital, says: “It has been a great privilege and a lot of fun for us at Encore to have partnered with Maureen Kelly, Scott McDonough and the rest of the amazing team at tarte since our investment in 2010. The company’s performance over that time has been nothing short of extraordinary, and
Water Street is to acquire a majority interest in Take Care Employer Solutions, a subsidiary of Walgreen Co that manages more than 360 US worksite health centres.
Water Street also has signed an agreement to simultaneously invest in CHS Health Services, a premier provider of more than 130 worksite health centres.
Water Street will merge Take Care Employer Solutions and CHS to form a new company dedicated to providing worksite health centres that improve the cost and quality of employee health care. The new company will have more than 85 years of combined experience in employer health solutions and
Collas Crill has appointed Elena Moran as a group partner in its Jersey commercial dispute resolution team.
An experienced commercial litigator who focuses on trust and commercial litigation, with a specialism in employment and media law, Moran will join the firm at the end of April.
It is a return to Collas Crill for Moran, who previously worked at the firm when she moved to the island in 2002.
Collas Crill senior partner Nuno Santos Costa says: "We are delighted to welcome Elena to our team. Elena brings first class technical skills and a wealth of knowledge in
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