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S&P Dow Jones Indices has launched the S&P Business Development Company (BDC) Index and licensed it to Nikko Asset Management to launch a tracker fund in Japan.
The index is comprised of US-listed private equity firms that invest equity and debt capital in small and mid-sized businesses, allowing investors to measure a growing industry specialty within the financial sector.
Drawn from the S&P United States BMI universe, the S&P BDC Index is modified float-adjusted market cap-weighted. Modifications are made to market cap weights, if required, to reflect available float, while applying a single stock cap of 10 per cent
Akre Capital Management has appointed Daniel Leger as head of strategic planning and client services.
With extensive alternative investment industry experience, Leger will focus on building and expanding the firm’s relationships with institutional investors and consultants.
“We are delighted to have Daniel be a part of our team,” says Charles T Akre, Jr, the firm’s founder. “He will be instrumental in fostering new relationships with institutional investors and helping us think critically about how we should continue to grow our firm.”
Prior to joining Akre Capital Management, Leger worked with a wide variety of fund managers. He has held
OMERS Private Equity (OPE) has completed the sale of Maxxam Analytics International Corporation to Bureau Veritas for CAD650m.
Founded over 40 years ago, Canada-based Maxxam provides analytical services and solutions to the energy, environmental, food and DNA industries.
Maxxam processes approximately 2.5 million samples and generates in excess of 41 million results annually through the only national network of laboratories.
Since OPE acquired Maxxam in September 2008, its revenue has grown by 80 per cent and the company has continued to strengthen its market position both organically and through strategic acquisitions.
"We are very proud to have
The Paris office of law firm K&L Gates has added Jean-Patrice Labautière as a partner in the corporate/M&A practice.
Labautière joins K&L Gates from Allen & Overy, where he practiced for 15 years and contributed to the launch and development of its Paris corporate practice.
An experienced corporate and transactional lawyer, Labautière advises financial institutions, corporations, and private equity clients on a wide variety of transactions, including complex acquisitions, reorganisations, and joint ventures. He is particularly active in the healthcare, financial services, and technology sectors.
Louis Degos, administrative partner of K&L Gates’ Paris office, says: “Jean-Patrice is a highly regarded
Actis has made a 36 per cent equity investment in the AutoXpress group, an East African tyre wholesaler and retailer.
Operating through 20 company-owned stores in Kenya and Rwanda, AutoXpress is the key distributor and retailer of leading tyre, battery and suspension brands, including Pirelli, Dunlop, Marshal, BKT, KYB and Energizer.
Servicing both corporate customers and the fast growing Kenyan retail market, AutoXpress is a third generation family business.
Peter Schmid, head of private equity at Actis, says: “AutoXpress is a compelling entrepreneurial business that meets a core consumer need: access to quality tyres, automotive parts and services
Private equity firm HIG Capital has completed the sale of its portfolio company SeaStar Solutions to American Securities.
Based in Litchfield, Illinois, SeaStar Solutions (formerly Teleflex Marine) is a manufacturer of precision-engineered vessel control systems and other specialised applications in marine and industrial end markets.
The company has approximately 750 employees and operates through four manufacturing facilities in North America, while maintaining an international sales presence in Europe, Asia and Australia.
In 2011, HIG partnered with management to acquire SeaStar from Teleflex and undertook multiple initiatives to grow the company and improve its profitability. These efforts include the
Newgen Software, a provider of business process management (BPM), enterprise content management (ECM) and customer communication management (CCM) solutions, has raised equity capital from IDG Ventures India and Ascent Capital.
Avendus Capital was the financial advisor to the transaction. The investment will be used to strengthen presence in the US and other major developed markets, as well as in new product development.
Diwakar Nigam, the managing director of Newgen Software and a founder member of NASSCOM, says: "I am pleased that IDG Ventures India and Ascent Capital have placed their confidence in us. The investment will be used to
Vector Capital, a technology focused private equity firm, has acquired CollabNet from existing venture investors and other shareholders.
Concurrent with the buyout, Vector has also made a growth equity investment in the company, which will be used to accelerate product development, strengthen CollabNet’s sales and marketing efforts, and enable add-on acquisitions.
CollabNet, founded in 1999, is a provider of cloud-based application lifecycle management (ALM) solutions for agile software delivery at scale. It is the founder and principal sponsor of Subversion and a pioneer in cloud-based application development. Its customer base includes both large enterprises such as Capgemini, Intel, Ameritas,
Sub-investment grade corporate credit specialist Alcentra, part of BNY Mellon, has invested in Cambridge Education Group (CEG), a provider of foundation programmes and English language training.
Alcentra’s senior loan will support the buyout by Bridgepoint in a transaction totalling GBP185m and will provide a strong platform to deliver the company’s global growth plans.
Established in 1952, the company is a leading player in the international schools market, providing pre-university education to more than 4000 students recruited from over 95 countries via its global marketing network. CEG addresses the UK and US pathway market through sixth form colleges in the
Partners of Ogier Fiduciary Services have agreed terms for a management buy-out of the business from the Ogier Group.
The deal closed on 1 February 2014 with final completion being subject to the regulatory approvals.
The management buy-out of Ogier Fiduciary Services is being backed by Electra Partners, an independent private equity fund manager with over 25 years’ experience of supporting businesses, including those in the financial services industry. On behalf of its major client, Electra Partners has agreed to invest GBP83m of equity in the GBP180m transaction.
Nick Kershaw (pictured), CEO of Ogier Group, says: "Ogier Fiduciary
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