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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
Private equity firm Omnes Capital has sold its shareholding in plista, a digital media specialist in Germany, to GroupM.
Supported by Omnes Capital since 2010, plista employs approximately 100 people and specialises in innovative solutions for targeted real-time digital advertising and content marketing.
The company currently operates in Germany, Austria and Switzerland, working for blue chip clients including Volkswagen, Sony, and Coca-Cola, among others.
“This marks the start of a new era for plista’s development in the targeted digital advertising market. As 2010 lead investor in Plista, and having contributed to the company’s key strategic decisions, we welcome
Private equity firm Sterling Partners has partnered with Q-Centrix, an outsourced healthcare outcomes data provider focused exclusively on serving the quality departments of acute care hospitals.
Terms of the transactions were not disclosed.
“Q-Centrix has quickly become a national leader in core measure and registry abstraction services over the last several years across the US, serving hundreds of client healthcare facilities and their patients,” says Dan Hosler, principal at Sterling Partners. “We are excited to help Q-Centrix continue its growth trajectory, as it benefits from the health care system’s shift to an increasingly quality-based reimbursement model, which creates regulatory
Emerging Capital Partners (ECP) has exited Société d’Articles Hygiéniques (SAH), a Tunisian feminine and baby hygiene products manufacturer, following the company’s listing on the Tunis Stock Exchange (TSE).
The fixed offer price of TND9.35 per share values SAH at TND270.5m (USD163.5m).
The sale of 14,176,590 shares, representing 48.99 per cent of the company’s capital at listing, allowed ECP’s investment to deliver a cash multiple of 2.4x on exit.
SAH’s IPO was split into a global private placement, which represented 90 per cent of the shares offered and was fully subscribed by 85 local and international investors, and a
Munich-based Aurelius Group has sold the healthcare activities of ITC firm brightONE (Eschborn) to T-Systems International.
The business was sold as part of a share and asset deal. The transaction also involved the service and maintenance operations in India, in addition to the German and Dutch units.
The sale is currently awaiting approval from the competition authorities.
A team from CMS Hasche Sigle led by Stuttgart-based partner Dr Maximilian Grub advised the inhouse team at Aurelius AG on the legal aspects of the transaction, with support from CMS Derks Star Busmann.
The brightONE Group's healthcare business covers
HowardKennedyFsi, has advised on an offer for subscription to raise a further GBP10m for The City Pub Company (East) PLC and The City Pub Company (West) PLC under the Enterprise Investment Scheme.
Prior to the offer, the companies had already raised some GBP13m under the EIS.
The offer, supported by EIS promoter RAM Capital, was fully subscribed in less than two weeks.
Lenny Norstrand, founder of RAM Capital, says: “In all my time as an EIS fundraiser, I have never seen a company close so quickly after launching their prospectus as City Pub Company has recently done.”
The Riverside Company has completed the fundraising for its latest fund, Riverside Capital Appreciation Fund VI (RCAF VI), at USD1.5bn, 50 per cent above its USD1bn target.
This makes it the largest fund in the 25-year history of the global private equity firm dedicated to the smaller end of the middle market.
Like all Riverside funds, RCAF VI targets healthy, growing companies that can benefit from the firm’s hands-on, global resources.
Riverside seeks to double or triple EBITDA in its investments, using its considerable operating resources to globalise businesses, drive organic growth, and complete strategic add-on investments. RCAF
Encore Consumer Capital has promoted Kevin Murphy to managing director and Bill Shen to director.
Murphy is a board member of Encore investments Atlantic Aqua Farms, MyChelle, Tarte and ThunderWorks. He has been with Encore since soon after the firm's founding in 2005.
Robert Brown, Encore co-founder and managing director, says: "Kevin was our first key hire and is a great asset to the firm. He is a strong leader of our investments and a great partner to our management teams. We are thrilled to promote him to managing director."
Prior to joining Encore Murphy worked at Genstar
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