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Alternative asset manager The Carlyle Group has completed the acquisition of the Red Oak power generation facility located in Sayreville, New Jersey.
The acquisition was executed in conjunction with Cogentrix Energy Power Management, which was acquired by Carlyle funds in late 2012, and brings the total number of power generating facilities acquired since then to 11 with an aggregate enterprise value of more than USD1.2bn. Financial terms were not released.
Robert Mancini, Carlyle managing director and chairman of the board of Cogentrix, says: “This acquisition is a great opportunity to create value for our fund investors by taking advantage
Silverton Partners, an early-stage venture capital firm, is launching a USD75m early stage follow-on fund, Silverton Partners IV.
The fund will include the backing of prominent Austin entrepreneurs as well as several university endowments and the general partners personally.
SP IV fund includes a USD10m oversubscribed entrepreneurs fund backed by more than 40 founders, CEOs and executives from the Austin startup ecosystem.
Silverton Partners has a 30-year track record of successful investments in Austin-based companies. The firm focuses on early-stage, capital efficient technology companies where technology can be used to build significant proprietary barriers over time.
Formation
Nearly 200 fund managers and advisers attended a Guernsey event in London this week to hear the practical aspects of implementing the Alternative Investment Fund Managers Directive (AIFMD).
The event, “AIFMD: Practical aspects of implementation”, was held on 5 November at the recently refurbished Rosewood London.
Fiona Le Poidevin (pictured), chief executive of Guernsey Finance, the promotional agency for the island’s finance industry, says: “AIFMD has dominated a large proportion of the coverage relating to the European funds industry over the past couple of years but the deadline for EU and EEA Member States to transpose the provisions of
Private equity and alternative asset manager Maven Capital Partners has participated in the GBP55m investment in Global Risk Partners (GRP), led by Penta Capital, providing GBP5m of the funding.
This deal represents another opportunity for Maven client funds to invest in private equity transactions led by Glasgow-based Penta. Maven previously invested as part of a syndicate in the 2010 acquisition of online insurance provider esure, which earlier this year undertook a successful IPO, and the 2011 buy-and-build platform Six Degrees Group.
GRP has been set up by chief executive David Margrett who had a series of senior roles at
Ice Miller has appointed veteran transactional attorney Edward Braum to its Columbus, Ohio, office.
Braum, who joins the firm as a partner in the business group, focuses his practice on complex business transactions, including mergers and acquisitions, leveraged buyouts and debt and equity investments.
Before arriving at Ice Miller, Braum practiced for 14 years in the New York office of Goodwin Procter in the business law department and private equity group.
Braum represents private equity and venture capital investment funds and their portfolio companies in an array of businesses and has significant experience in the life sciences, healthcare
Technology dealmakers may be showing a little spring in their step heading into 2014, according to the latest M&A Leaders Survey issued jointly by M&A law firm Morrison & Foerster and technology research firm 451 Research.
In their latest canvass of tech industry insiders, MoFo and 451 Research found participants modestly bullish about the pace of mergers and acquisitions, both in recent months and looking ahead.
Forty per cent said the past six months generated more deal activity than at any point in the past two years, compared with 36 per cent saying the same period produced less M&A
Having emerged from the global recession and its aftermath, the real estate private equity sector is finally positioned for growth in 2014, according to EY’s latest global market outlook.
"Five years on, and following a long recovery, global real estate is now entering a broad up-cycle and, having learned some important lessons during the downturn, private equity funds are heading down a path toward growth. What remains to be seen is if they are in for a brisk morning walk or just a Sunday stroll," says Mark Grinis, EY's global real estate fund services leader.
The strategies being deployed
Private equity firm North Castle Partners is to acquire Jenny Craig, an iconic brand in the weight loss industry, from Nestle.
The terms of the investment, which is expected to close later this month, have not been disclosed.
"We are very excited to bring Jenny Craig into the North Castle family and to continue its 30-year tradition of providing consumers with dedicated one-on-one coaching and great tasting, clinically proven food to support their weight loss goals. As a firm focused exclusively on consumer businesses that promote health, wellness, and active living, we were able to draw upon substantial experience from
AllianceBernstein has launched a digital education campaign to equip financial advisors with the right tools to help their clients navigate the growing liquid alternative investments category.
The cornerstone of AllianceBernstein's education initiative is an interactive website designed to demystify the array of liquid alternative strategies available to retail investors, illustrate how they might fit into diversified portfolios, and explain how they may be used to either mitigate risk or enhance returns.
The site also features a 12-question challenge called "Bring your 'A' Game" that assesses one's knowledge of liquid alternative investments and is designed to guide advisors in helping
Babson Capital Europe has completed a mezzanine investment in Busy Bees, the largest UK nursery chain.
The childcare company has been acquired by Teachers’ Private Capital, the private equity division of Ontario Teachers’ Pension Plan. The total debt package includes a mezzanine facility co-arranged by Babson Capital Europe.
Established in 1983, Midlands-based Busy Bees is the largest children’s nursery daycare provider in the UK. The business has grown both organically and via acquisitions, and currently operates 213 nurseries, where its 7,000 staff look after some 19,500 children on a daily basis.
The management team is led by chief
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