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ACE Group has expanded its mergers and acquisitions (M&A) practice into a private equity practice concentrating on insurance solutions for private equity firms, their portfolio companies as well as their M&A transactions.
Seth Gillston, based in New York City, has been named executive vice president to lead the expanded practice. He will coordinate a team of underwriters who will address the specialised needs of the private equity industry and the M&A process.
ACE’s M&A practice has been enhanced to broaden its suite of risk management solutions, insurance products across all North American business units, and claims coordination to respond
KNEIP has launched an expanded service offering to help asset managers meet the increased demands posed by regulation in Europe.
Over the course of 2013, KNEIP added new business lines including AIFMD transparency reporting and regulatory filing.
Quarter four 2013 was the firm’s best quarter ever. KNEIP signed 73 agreements in Q4 2013 with investment managers collectively representing USD9trn in assets under management. This is around 14 per cent of current worldwide investable assets.
Bob Kneip, chief executive officer at KNEIP, says: “The asset management industry is set for fast growth over the next decade, with global investable
Private equity firm Superior Capital Partners has sold Edge Adhesives to a buyer group led by Gladstone Investment Corporation and Akoya Capital Partners.
The company will continue to be led by the current executive management team. Terms of the transaction have not been disclosed.
Headquartered in Fort Worth, Texas, Edge specialises in butyl and block co-polymer technologies.
Scott Hauncher, a managing director at Superior, says: "The Edge story showcases several of the key initiatives Superior expects to achieve as a special situations fund. When we acquired Edge in 2010, it was an underperforming and capital constrained business. Through our
LLR Partners has held the final closing of LLR Equity Partners IV (LLR 4), a USD950m private equity fund that builds on the firm’s 15-year history of investing in and partnering with middle market growth companies.
LLR 4 began investing in 2013 and has closed investments in five companies – ACRE, Cigital, iJET, Logi Analytics and Ultisat.
“Since launching our first fund in 1999, LLR has brought a collaborative approach to working with middle market companies that have an opportunity to become leaders in their industry niches,” says LLR’s Mitchell Hollin.
LLR 4 remains focused on a broad
Azini Capital, the UK based private equity direct-secondary firm, has raised a new USD100m fund.
The fund, Azini 3, will acquire shareholdings – individually or as portfolios – in growth and development stage technology companies, providing historical investors and shareholders with an option for early liquidity.
Lexington Partners, an independent manager of secondary private equity funds, has worked with Azini since 2005 and has agreed to provide the majority of the investment for the new fund.
The Azini 3 fund builds on the success of the firm’s first two funds: Azini 1, which was raised in 2007, and
Founders Fund announced has held the closing of a USD1bn fifth suite of venture capital funds.
Founders Fund V will be led by partners Ken Howery, Luke Nosek, Brian Singerman, Peter Thiel, Lauren Gross, Geoff Lewis, and Scott Nolan.
Members of the team have been investors, founders, and early employees of prominent technology companies including PayPal, Facebook, Google, Space Exploration Technologies (SpaceX), and Palantir Technologies.
Since its inception in 2005, Founders Fund has raised over USD2bn. The firm has historically invested in a wide variety of sectors, including aerospace, artificial intelligence, advanced computing, energy, health, and consumer Internet,
Guernsey’s financial services regulator approved 30 new investment funds during the fourth quarter of last year, which means that there were a total of 103 additions during 2013.
Figures from the Guernsey Financial Services Commission (GFSC) show that 16 new funds were approved during the first quarter of last year, 24 during the second, 33 during the third and 30 in the final quarter of 2013.
However, the net asset value of funds under management and administration fell by GBP1bn (0.3 per cent) during the fourth quarter to GBP266bn at the end of December, representing a decline of GBP10.8bn
Wynnchurch Capital, a middle-market private equity firm, has appointed Jude Thompson to its newly formed executive advisory board.
Thompson was most recently president and co-CEO of Papa John's International, the world's third largest pizza company.
Previously, Thompson held several leadership roles at WellPoint, Anthem Blue Cross and Blue Shield, most recently as divisional president. In this role, he was responsible for management of the company's individual business unit in the 14 states served by WellPoint, which generated more than USD5bn in revenue.
Thompson is a board member of Central Bank & Trust Company of Jefferson County, ISCO Industries,
Private equity firm VMG Partners has promoted Jarom Fawson to principal.
Fawson joined VMG in 2012 as a vice president with significant experience in corporate finance and has since worked on sourcing new investment opportunities, due diligence, deal execution and portfolio company oversight.
He oversees the firm's current investment in Kernel Season's, a maker of popcorn seasonings, and serves on the board of directors of Speck Products.
Michael L Mauze, a managing director at VMG, says: "Jarom is a key member of our team whose transaction expertise and investment judgment are great assets to our firm. We are
Albion Ventures has made an investment of GBP2.2m in Egress Software Technologies, a provider of on-demand Cloud-based email and file encryption services to organisations in the public and private sectors.
Established in 2007, Egress launched its SaaS-based information security platform, Egress Switch, in 2009.
Since its launch, Switch has become one of the market’s leading email and file encryption solutions, and already dominates the local authority space, with over 70 per cent of councils registered as subscribers of the service.
The uptake of Switch has also been recognised across central government and the NHS, as well as a
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