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Private equity leaders anticipate another year of moderate deal flow volume, according to the fifth annual PErspective Private Equity Study by BDO USA.
Coming off of a year when rising valuations limited fund managers’ ability to source and close deals, only 15 per cent of private equity fund managers – regardless of fund size – predict they will close more than five deals in 2014. That represents a drop from 2013, when 22 per cent of fund managers anticipated closing more than five deals.
Despite this bearish view, fund managers are hopeful that they will deploy more capital in
RMB Capital has appointed Kerry Jordan as director of business development for Iron Road Capital Partners, the firm’s alternative investment platform.
“We continue to expand our team in an effort to support the spectrum of alternative investments we provide,” says Blair Haarlow, managing principal of Chicago-based Iron Road. “Kerry brings significant expertise in building relationships with institutional investors, so we are excited about the contributions she’ll be able to make to our growing business. In addition, Kerry has long-standing involvement in the Chicago financial community with leadership roles at CFA Society Chicago and Econ Illinois.”
In her role, Jordan
Peer-to-peer lending company Lending Works has closed a GBP3.5m seed funding round led by David Kyte, founder of The Kyte Group.
Kyte was a founder trader and former board member of the London International Financial Futures and Options Exchange (LIFFE), now known as NYSE Liffe and in 1985, he founded The Kyte Group, one of the world’s first algorithmic trading and clearing houses.
Kyte says: “The retail banking sector as we know it is fractured; so, as a financial services innovator-turned-investor, a P2P lender developing leading proprietary technology is a natural destination for my investments.
“Innovative technology is
European private equity transaction volumes bounced back in Q4 following a weak Q3, according to the European Private Equity Barometer, published by unquote” and SL Capital Partners.
A total of 326 deals were completed, the highest total since the final quarter of 2012, with the total value of EUR23.6bn up 40 per cent on the EUR16.9bn transacted in Q3.
This value uplift was largely driven by the buyout space, where mid-market deals led the way with volumes at a three-year high. These mid-market deals were the core growth driver during the year in Europe, representing 60 per cent
HIG Capital has recruited two experienced private equity investors, Johannes Huttunen and Johan Pernvi, to the firm’s London team.
Huttunen was formerly at Silverfleet Capital where he worked on the origination and execution of transactions as part of the team in London. Before that he was at European Capital, working on UK buyouts, and in the healthcare M&A team at Deutsche Bank in London.
Pernvi was previously a senior investment manager at publicly listed Swedish private equity company, Ratos, where he worked on buyout transactions. Before that he was at Bain & Co
Paul Canning, HIG London managing
Japanese trading firm Mitsui has agreed to join The Russian Direct Investment Fund (RDIF) as investor in Cotton Way.
Cotton Way is a Russian commercial laundry and textile management company.
Mitsui will contribute to improve the operation and management of Cotton Way by introducing international best practices and offering experience and knowledge.
This transaction will be the first investment deriving from the Russian-Japanese Investment Platform (RJIP) which was created by RDIF, Vnesheconombank (VEB) and the Japan Bank for International Cooperation (JBIC) in 2013.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, says: “Mitsui’s investment in Cotton Way
Compagnie des Alpes (CDA), in association with Chaplin Museum Development (CMD) and Genii Capital, are to open a museum in Corsier-sur-Vevey dedicated to the life and works of Charlie Chaplin.
Chaplin's World by Grévin will open in spring 2016.
CDA, a major player in the European leisure industry, was chosen by the Genii Capital and CMD consortium to operate the museum under the "Chaplin’s World" brand. It will open in spring 2016 at the Manoir de Ban, Charlie Chaplin's home for 25 years, owned by the consortium. CDA will also have the right to use the "Charlie Chaplin" and
Syntaxis Capital, a provider of mezzanine finance in Central Europe, has completed an investment in BIK Brokers, a Polish motor insurance broker.
The investment from Syntaxis will support an ambitious growth strategy for the Gdansk-based broker.
BIK is a commercial wholesale insurance broker in Poland. The company acts as an intermediary between its wide range of blue-chip clients (car fleet management firms, leasing companies, vehicle manufacturers or corporates) and insurance providers in Poland.
For its clients, BIK helps analyse, structure and secure third party liability insurance, CASCO cover and claims management, in addition to providing a range of
Private equity investment activity held steady for emerging markets in 2013, with deal volume gaining momentum in the last six months, according to the Emerging Markets Private Equity Association (EMPEA).
This investment activity led to an overall capital flow of USD24bn in emerging markets last year, representing 883 deals and a seven per cent decline in capital year-over-year from 2012.
While fundraising was down with only 150 funds raising USD36bn in 2013, a 19 per cent decline in total capital raised compared to 2012, the relatively constant deal volume indicates that private equity investors continue to find investable companies
Anna Lekston has joined the European Private Equity and Venture Capital Association (EVCA) as senior public affairs manager.
She will take the lead for the association on a number of policy issues including Solvency II, the Structure of Banking as well as the review of the European System of Financial Supervision and the IORP Directive.
Lekston joins the EVCA from the Permanent Representation of the Republic of Poland to the EU, where she was first counsellor for financial services between 2009 and 2013. Prior to that, she spent five years at the Polish Ministry of Finance where she was head
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