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Mid-market private debt manager Beechbrook Capital has completed two new mezzanine loans through its second fund, Beechbrook Mezzanine II, as well as its first exit from Beechbrook Mezzanine I.
The two new investments are a mezzanine loan to Simply Biz, a business that provides compliance and business support to over 5,000 financial advisers throughout the UK, and a mezzanine loan to N-Sea, an integrated subsea infrastructure services provider and portfolio company of Dutch sponsor Value Enhancement Partners.
Simply Biz was seeking finance to make a corporate acquisition in order to expand its range of products and services. N-Sea was
Akin Gump Strauss Hauer & Feld has promoted eight attorneys to the partnership, effective 1 January 2014.
Rob Boller is in the firm’s litigation practice. He represents companies, partnerships and individuals in a variety of litigation and criminal/regulatory matters, with a particular focus on disputes arising out of complex financial transactions. He also counsels creditors and creditors’ committees in litigation arising out of bankruptcy.
Brian Carney is in the firm’s litigation practice in New York. His practice focuses on complex commercial litigation matters in bankruptcy court, federal district court and New York state courts, especially matters involving private equity funds,
Doug Smith has joined Insight’s corporate insurance consultancy business.
Smith has held previous senior positions as chairman of Marsh’s private equity practice and latterly as non-executive deputy chairman of Willis’ M&A practice.
Smith will team up again with former Corporate Risk plc colleague Colin Paterson, the managing director and founder of Insight, and will focus on broadening and strengthening relationships with the private equity community.
He will also provide strategic advice on growing Insight’s concept of introducing “Client-Side” (i.e. in house) corporate insurance expertise, free from any commercial conflicts, directly to the PE community and their portfolio companies,
ISIS Equity Partners has sold Kafevend to Eden Springs in a deal advised by Clearwater Corporate Finance.
Formed in 1992, Kafevend is one of the fastest growing workplace vending suppliers in the UK. The business supplies hot drinks, coffee vending machines, water and snack vending machines to SMEs and corporates across the UK from its headquarters in Crawley and offices in London, Epping, Bristol, Manchester and Scotland.
Turnover in 2013 was GBP20m and the business currently employs approximately 100 people.
ISIS invested in Kafevend, on behalf of its clients the Baronsmead VCTs, in October 2005 to fund an
Cox Enterprises has acquired Providence Equity's 25 per cent equity interest in AutoTrader Group.
Cox now holds a 98 per cent stake in AutoTrader Group, with the remainder being held by current and former employees.
Financial terms of the transaction were not disclosed.
"With more than 32 million monthly visitors to our industry-leading sites AutoTrader.com and KBB.com, AutoTrader Group continues to grow as a trusted and valued online automotive resource for customers across the nation. Our portfolio of media advertising and software products serves more than 27,000 dealer relationships, and we are confident we will continue to
Private equity investments in India have increased 12 per cent in value terms from USD9.5bn in 2012 to USD10.68bn in 2013, according to data released by VCCEdge, financial data platform of VCCircle.com.
Deal volume on the other hand dipped 13 per cent to 655 deals from 751 deals in 2012, VCCEdge data shows.
"This shows private equity investors have been investing larger monies in fewer companies in 2013, an indication of winning companies attracting larger capital," says Sahad PV, founder and editor, VCCircle.com. "PE investors have been choosy."
Financials, consumer discretionary, and information technology were the most targeted
Bowmark Capital, the mid-market private equity firm, has held a first and final closing of its new fund, Bowmark Capital Partners V, having raised GBP375m in just 10 weeks since its launch in October last year.
Despite being restricted to Bowmark’s existing relationships, the new fund attracted investor demand significantly in excess of its GBP375m cap, with approximately 90 per cent of the capital coming from investors in previous funds.
Bowmark Capital Partners V has 22 investors, with 49 per cent of the capital coming from Continental Europe, 34 per cent from North America, eight per cent from the
The private equity industry has raised the largest amount of capital from investors in any year since the start of the financial crisis in 2008, according to data from PEI.
Some 580 funds have collected a total of USD356bn in 2013, with just over USD80bn being raised by 119 funds in the final quarter.
The previous highest annual total for funds raised since 2008 was in 2012, when just over USD300bn was collected.
UK funds in particular have had a successful 2013. Fifty two funds collected an aggregate USD58.6bn, trumping the most recent high of USD55.7bn raised in
The UK economy heads into 2014 on a fair wind amid increasing evidence that wages are finally catching up with inflation and companies are becoming more willing to invest in their businesses, says Steve Davies, co-manager of the Jupiter UK Growth Fund and manager of the Jupiter Undervalued Assets Fund…
No matter that the UK economy grew at its fastest pace in three years in the third quarter, sceptics of the recovery are only too happy to flag the ongoing squeeze in real wages and the lack of business investment as evidence that the revival in Britain’s fortunes could yet
Grosvenor Capital Management and its affiliates have acquired Customized Fund Investment Group (CFIG) from Credit Suisse Group AG.
The combined business, with more than USD44bn in assets under management and over 375 professionals, will be one of the largest of its kind in the world.
"We are very pleased to complete our acquisition of CFIG. We are confident that the transaction fundamentally strengthens our platform and makes us a more valuable partner for our clients," says Michael Sacks, chief executive officer of Grosvenor. "Together, we will offer clients the ability to access the entire alternative investments landscape. And importantly,
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