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Private equity and alternative asset manager Maven Capital Partners has invested GBP3.5m into Carlisle-based tyre manufacturer DMACK to fund the next stage of expansion for the business.
DMACK designs and produces high performance tyres for the worldwide automotive market, specialising to date in the motorsport sector.
Maven’s investment will allow the company to meet the demand for PCR (passenger car) tyres through investment in new tyre moulds to increase the range and quantity of tyres available as the business continues to scale up in size.
The transaction was completed by Maven’s Glasgow-based investment team of Julie Glenny and
HIG Capital’s portfolio company Infogix has completed the acquisition of Agilis International, a provider of predictive data analytics and reconciliation solutions focused primarily in the telecom and media sector.
Founded in 2003 in Rockville, Maryland, Agilis’ integrated data warehouse and analytics platform helps clients improve revenues and generate savings by deriving insight from large data sets to predict and optimise business outcomes.
A core application of Agilis is in risk management where the product offering prevents, predicts or identifies financial risks on a real-time basis. In addition, the company also provides predictive propensity scoring to allow companies to more
An affiliate of private equity firm Warburg Pincus has invested USD40m in ComplexCare Solutions, to fund future growth initiatives at the risk assessment and care management services provider.
ComplexCare's management team will continue to hold a significant interest in the company.
Since its founding in 2010, ComplexCare has developed into a fast-growing health services company in the USD1bn addressable market for outsourced risk assessment and care management services by providing in-home health risk assessments and care management services through a network of qualified interdisciplinary care teams. With an increasing demand from Medicare Advantage, Managed Long-Term Care, Managed Medicaid and
CAN Capital has secured USD33m in funding led by Meritech Capital Partners with increased participation and ownership from existing investor Accel Partners.
Meritech and Accel were joined in the funding round by Ribbit Capital and QED Investors.
Nigel Morris, managing partner at QED, also serves as vice chair of CAN Capital’s board of directors.
Ribbit and QED also significantly increased their ownership stakes in the company.
CAN Capital will use the funds to expand and accelerate the growth of its small business finance offerings.
“Ensuring that small businesses continue to get access to capital remains a
The Edmond de Rothschild Group has appointed Dr Naveed Siddiqi as a partner in its BioDiscovery venture capital funds franchise.
Gilles Nobécourt, Raphael Wisniewski and Olivier Litzka, the three existing partners, say: "We are delighted that Naveed has joined the Edmond de Rothschild Group. He brings 13 years of venture capital investment experience in companies focused on innovation. He will be joining the life sciences team to select new investment opportunities and supporting portfolio companies of the recently raised EUR192m (USD250m) BioDiscovery 4 venture fund."
Prior to joining the Edmond de Rothschild Group, Siddiqi was a partner at Phase4 Ventures. His
Apollo Global Management has held the final close of its current flagship private equity fund, Apollo Investment Fund VIII, with USD17.5bn of commitments from third party investors.
Fund VIII will seek to continue Apollo’s history of value-oriented and contrarian private equity investing to achieve superior risk-adjusted rates of return across all economic cycles.
Apollo’s private equity funds have consistently focused on three primary types of transactions: distressed investments, corporate carve-outs and opportunistic buyouts.
Leon Black, chairman and chief executive officer, says: “We are very grateful for the overwhelming support for Fund VIII, which includes significant commitments from a
INDOS Financial Limited has received authorisation from the Financial Conduct Authority (FCA) as an Article 36 Custodian to provide AIFMD depositary-lite services to non-EU alternative investment funds.
INDOS is the first independent UK authorised depositary specialising in hedge funds.
Following the introduction of the AIFMD, many hedge fund managers are required to comply with the so-called ‘depositary-lite’ regime. Managers need to identify depositary providers such as INDOS in order to continue marketing their funds to EU investors after 22 July 2014.
Bill Prew, Founder and CEO of INDOS, says: “Being the first independent firm to obtain an Article 36
Barclays and BlueBay Asset Management’s Direct Lending Fund are collaborating to offer joint bespoke lending solutions to medium-sized enterprises in the UK in specific deal situations.
They are offering single unitranche loans to finance UK financial sponsor-backed mid-market companies.
This initiative will provide unitranche loans of up to GBP120m, alongside which Barclays can provide other banking services and will be complementary to Barclays’ and the fund’s existing lending activities.
This collaboration is a significant development in the UK loan market and involves combining capital from Barclays and the fund to achieve a single term loan, at a single
KKR has held the final closing of KKR Special Situations Fund (KSSF), a USD2bn global fund focused primarily on distressed and event-driven investments.
The fund, for which KKR began soliciting third party capital in 2012, received strong backing from a diverse group of new and existing global investors, including public and corporate pensions, sovereign wealth funds, insurance companies, foundations, private banking platforms, family offices and individual investors.
The fund closed at two times its original target of USD1bn.
Jamie Weinstein, co-head of special situations, says: “We are pleased we were able to attract such a diverse mix of
Private equity house WestBridge Capital has exited its investment in Mobile Computing Systems (MCS), securing a 3x return.
MCS, which provides software for construction companies, was the last of the assets WestBridge Capital inherited when it acquired Wales Fund Management in 2008.
Valerie Kendall, a partner at WestBridge Capital, says: “MCS has flourished under our stewardship. From break even five years ago, the company now has strong recurring revenues, healthy profits and a market-leading product.
“Given its exposure to the construction sector, the management team has done extremely well to grow the business, repay historic debt liabilities and
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