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Private equity group EQT has held the closing of the EQT Mid Market fund. Interest in the new fund was strong, with 95 per cent of the EUR1.1bn capital committed by existing EQT investors.
The fund is advised by a dedicated team of 35 investment advisory professionals based in Copenhagen, Frankfurt, Hong Kong, Shanghai, Singapore, Stockholm and Warsaw. The team has cumulative experience from advising on more than 30 middle market transactions in prior EQT funds with an aggregated transaction value of over EUR3.4bn.
The EQT mid market team is led by Jan Ståhlberg, one of the founders and deputy managing partner
Segulah IV has entered into an agreement to acquire KP Components.
KP Components, which was founded in 1969 by Poul Krogh Pedersen, offers complex machined metal components for hydraulics, power generation and fluid transportation.
KP Components’ head office is located in Spjald, Denmark. Its products are distributed broadly across Europe and the US, where KP Components established production facilities in 2011.
The sellers in the transaction are the Danish private equity fund Capidea Kapital and Industri Udvikling.
Chief executive Martin Krogh Pedersen will remain as a significant minority owner subsequent to Segulah’s acquisition together with management.
Hamilton Lane, a private equity asset management firm, has appointed Mingchen Xia as principal on the fund investment team and Yen Li Chew as vice president in the business development group.
The new hires will be based in Hong Kong and will further strengthen the firm's presence in the Asia-Pacific region.
"We are delighted to welcome Mingchen and Yen Li to the Hamilton Lane team. Both bring years of experience in the Asian private equity markets and their deeply developed regional networks and market perspectives will add great depth to our existing presence in the region," says Erik Hirsch,
Omnes Capital has sold its stake in Emalec Développement to the firm’s management team which is taking full control of the company.
Based in Saint-Genis-les-Ollières, close to Lyon, Emalec is involved in maintenance, electrical, air conditioning systems and multi-technical repair works at branch networks in France including specialist retailing, bank networks and service stations.
The company is one of a few to specialise in multi-site maintenance.
Omnes Capital invested in Emalec Développement in 2007 through an owner buy out together with the founding managers and supported the company for six years. It backed its market share development strategy
HIG Capital has completed the sale of its portfolio company MagnaCare to an investor group led by an affiliate of Goldman Sachs, Pamplona Capital Management, and the MagnaCare management team.
Based in New York, MagnaCare is a health plan services company offering a broad range of healthcare administrative services and access to a proprietary provider network of approximately 95,000 individually contracted physicians, hospitals and other healthcare providers.
MagnaCare currently provides services to approximately 850,000 members and manages approximately USD1.5bn of annual health care expenses.
After acquiring MagnaCare in 2010, HIG partnered with management and invested significant resources in
Rothschild Merchant Banking arm has completed the final closing of Oberon Credit Investment Fund I, its European secured credit fund.
Rothschild worked with Key Capital to place this unlevered six-year closed end fund.
The Oberon fund is an actively managed credit fund invested in a diversified portfolio of secured debt within leading European LBOs. The fund targets a seven to nine per cent net IRR, via quarterly cash distributions, offering low volatility of returns and access to assets via an investment adviser.
The Oberon portfolio presently consists of c60 per cent 2013 primary issuance, with the balance selected
James Oussedik has joined Sidley Austin’s London office as counsel.
He will be a senior member of the firm’s investment funds practice, which is dedicated to structuring and advising investment funds and advisers.
Oussedik’s appointment follows that of Stephen Ross, who joined Sidley’s investment funds practice as partner earlier this year and heads Sidley’s London investment funds group.
Oussedik has significant experience in advising fund sponsors on the establishment and maintenance of investment funds and managed accounts, as well as in advising institutional investors in relation to proposed investments. He has represented a broad range of investment fund
As the initial problems of ‘Obamacare’ are ironed out, Simon Laing, Head of US Equities at Invesco Perpetual, looks at the effect this may have on the US healthcare sector in 2014…
Obamacare is the informal name that has been given to the Patient Protection & Affordable Care Act that was signed into law in 2010. Its major initiative of providing affordable health insurance to all US citizens started rolling out in 2013. But it’s been an inauspicious start with its well-publicised website enrolment problems, preventing most people from taking out coverage.
President Obama has had to enact several
Aldermore has raised GBP40m of new capital from institutional investors Toscafund and Lansdowne Partners.
The new funding was initiated and managed by its founding sponsor, AnaCap Financial Partners.
The new funds will enable Aldermore to continue to meet the demand for its accounts and services from both retail customers and small to medium sized enterprises (SMEs). Aldermore now has over 100,000 retail customers, with deposits exceeding GBP3.3bn and lending to SMEs and homeowners reaching GBP3.4bn. The bank recorded a profit of GBP9.2m in the first half of the year.
The deal will also establish a wider dialogue with
Fewer than 20 per cent of alternative investment fund managers (AIFMSs) have submitted an application to their local regulator for Alternative Investment Fund Managers Directive (AIFMD) authorisation.
That’s the finding of new research from BNY Mellon, which comes just six months before full implementation of the directive.
Given that securing authorisation typically takes a number of months, bottlenecks and delays are now likely to develop, putting even greater pressure on AIFMs, depositaries and services providers as they seek to implement the necessary changes in time for July’s deadline.
In a similar survey conducted by BNY Mellon in July
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