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The California Public Employees' Retirement System (CalPERS) is to allocate an additional USD200m to its emerging manager programme in the private equity asset class.
CalPERS will use a new fund-of-funds to deploy the capital, focusing on high-potential emerging manager funds.
“This new allocation is a reflection of CalPERS ongoing commitment to emerging and diverse managers,” says Ted Eliopoulos, CalPERS’ interim chief investment officer. “Our goal is to generate appropriate, risk-adjusted investment returns by identifying early stage funds with strong potential for success.”
The new allocation will be deployed over four years and is in addition to a USD100m
Jon Moulton, via his family office Perscitus Advisers, has acquired a significant minority shareholding in Seneca Investment Managers, the new fund management firm within the Seneca Partners group.
Moulton (pictured) is the founder and managing partner of the private equity firm Better Capital.
In late January, Seneca Investment Managers acquired – subject to FCA approval – Liverpool-based Miton Capital Partners, a fund division of Miton Group.
The funds currently managed by Miton Capital Partners are CF Miton Distribution Fund; CF Miton Diversified Growth Fund; and the Midas Income & Growth Trust plc.
Moulton says: “Seneca Investment Managers
David Drummond has been appointed to the board of directors of KKR Management, the managing partner of KKR, and to the board's conflicts committee.
His appointment will bring the number of independent directors on KKR's board to seven out of a total of nine board seats.
Drummond serves as senior vice president, corporate development and chief legal officer of Google.
KKR's other independent directors include Joseph A. Grundfest (Stanford Law Professor and former commissioner of the Securities and Exchange Commission), John Hess (director and chief executive officer of Hess Corporation), Dieter Rampl (former chairman of Unicredit Group), Patricia Russo (former chief executive officer of Alcatel-Lucent), Thomas
DN Capital and Paul Pindar, who recently stepped down as chief executive of Capita, have led a multi-million pound investment in estate agency business Purplebricks.com.
DN Capital, the UK-based technology fund with investments including Shazam, and Pindar were joined in the investment by Martin Bolland.
Purplebricks.com, the brainchild of brothers Michael and Kenny Bruce who have prior experience building and exiting UK estate agencies, is a fully interactive, round the clock property platform allowing people to oversee every aspect of their transaction as it happens, at the touch of a button, rather than waiting for an estate agent’s
The private equity (PE) market in Europe, the Middle East and Africa (EMEA) has consolidated around key regions and settled into a new, post-financial crisis normal, according to S&P Capital IQ.
In the inaugural issue of EMEA Private Equity Market Snapshot, S&P Capital IQ provides a broad overview of the EMEA PE market in 2013, and highlights some of the most notable trends.
Specifically, the report looks at the performance of the market over the last year and its attractiveness as a target region for investment, the industry sectors that were the most successful for EMEA PE firms, and
Recent European M&A processes have seen strong interest from purely US-based private equity (PE) firms, according to mid-market investment bank Robert W Baird & Co.
Some 44 middle-market leveraged buyout (LBO) transactions have been completed since 2011, where the final buyer was a purely US based PE firm, including:
• Chicago based GTCR’s acquisition of UK based Callcredit Information Group from Vitruvian Partners in February 2014 for GBP480m
• New York based New Mountain Capital’s acquisition of UK based Alexander Mann Solutions from Graphite Capital in October 2013 for GBP260m
• Washington, D.C. based Arlington Capital Partners’ acquisition
Warburg Pincus has appointed Jacques Aigrain as a senior advisor.
Aigrain, who will be based in the firm's London office, will support the firm in the identification and evaluation of new investments, particularly in the European financial services sector, and provide strategic counsel across the firm's global portfolio.
Aigrain has over 30 years of broad financial services experience. He is currently chairman of LCH Clearnet Group, a global clearing house, based in London and is also a non-executive director of the London Stock Exchange Group, Lyondell Basell, Lufthansa and WPP. He is also a member of the Financial Institutions
HIG Europe has backed the management buyout of Kondor, provider of mobile and consumer electronics accessories into the UK and European retail markets.
Terms were not disclosed.
Founded in 1994 by the chairman Malcolm Bartlett, Kondor has evolved alongside the rapid growth in the smartphone and tablet market and today supplies a wide range of accessories including headphones, cases and speakers.
Global brands that Kondor partners with include Beats By Dr Dre, Skullcandy, Sony and Samsung.
Kondor supplies more than 10,000 products into more than of 11,000 stores in the UK and 7,500 outlets across Europe. UK
Novitas has acted as adviser to Equipos on the company’s sale to Simcorp A/S.
The EUR10m acquisition of the UK-based company and its subsequent full integration into the SimCorp organisation will enhance and support SimCorp’s strategy of growing the business based on its single product platform, SimCorp Dimension, while also providing selected applications as standalone solutions to investment managers.
Prior to the full acquisition, SimCorp held a 20 per cent stake in the private limited company’s share capital.
Equipos’ mainstay product is the Equipos Coric Client Communications Suite. The product empowers investment management firms to improve client service
Wroclaw-based Work Service Group has established a new joint venture for the German market with the international Fiege Group of Greven.
The new company will comprise the three German Work Service firms and Fiege subsidiaries Fiege uni/serv GmbH and FIEGE worksess GmbH. The transaction is currently awaiting approval from the competition authorities.
An international team of CMS drawn from its offices in Düsseldorf, Cologne, Warsaw and Vienna advised Work Service on all legal aspects of the project over an extended period. Dr Dirk Jannott acted as lead partner in Germany.
Fiege Logistik Stiftung & Co. KG will hold
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