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Ares Capital has acquired a diversified middle-market corporate loan portfolio managed by a global banking institution for approximately USD319m.
The portfolio is primarily comprised of first lien senior loans, and to a lesser extent, second lien loans and small equity co-investments.
The portfolio is comprised of 32 investments in 23 portfolio companies in industries that are generally similar to those in Ares Capital’s portfolio.
“As the banking industry faces increasing regulatory restrictions, we are seeing more opportunities such as this to purchase high-quality, middle-market loan portfolios from financial institutions where we see potential to create value,” says Michael
Oakley Capital Corporate Finance has advised on the sale of cloud services provider e-know.net to Nasstar to create a significant new quoted cloud hosting and applications business.
Nasstar has announced the proposed acquisition of Denara, the holding company of e-know.net, for an equity consideration of GBP13m. Oakley is advising Denara on the transaction.
e-know.net provides a comprehensive cloud services package, offering hosted desktop and hosted exchange services, with the ability to host a wide variety of software applications on behalf of clients, as well as providing hosted telephony and managed data network services. e-know.net has high recurring revenues and
ICL, a global minerals based products producer, has entered into a definitive agreement to acquire Vale Fertilizantes’s share in Fosbrasil, a joint venture producing purified phosphoric acid and raw materials for fertilisers located in Brazil.
The proposed transaction is subject to the approval of Brazilian competition authorities (CADE) and other customary approvals.
The purchase of Vale’s shares will increase ICL’s ownership share to a majority position in a major producer of phosphoric acid in South America.
The transaction supports and is in concert with ICL’s recent announcement on its new strategy “The Next Step Forward,” as the acquisition
HgCapital, the European sector-focused private equity investor, has acquired 91.85 per cent of Personal & Informatik (P&I), a payroll and transaction HR software provider, from The Carlyle Group.
Headquartered in Wiesbaden, Germany, P&I provides payroll and HR-related software to mid-market companies and the public sector in Germany and the surrounding region.
The company serves almost 4,000 direct and 15,000 indirect customers and generated revenue of EUR82m in FY 2013. The business offers software for the management of payroll, workforce, time management and human capital management. It typically services SMEs with 200 to 5,000 employees across industries as well as
The management board of Kabel Deutschland has signed a domination and profit and loss transfer agreement pursuant to section 291 of the German Stock Corporation Act between Kabel Deutschland as the controlled entity and Vodafone Vierte Verwaltungs as the controlling entity.
Vodafone Vierte Verwaltungs currently owns 76.57 per cent of the shares of Kabel Deutschland.
The domination and profit and loss transfer agreement still requires the approval by the extraordinary general meeting of Kabel Deutschland which is scheduled to take place in Munich on 13 February 2014.
In the agreement, Vodafone Vierte Verwaltungs offers to acquire the shares
Catella’s president and chief executive Johan Ericsson has been appointed as the new head of corporate finance, one of the two operating segments in the company.
The role will be shared with a person who is to be recruited. The dual leadership structure will enable Catella to focus both on current operations and on business development.
Anders Palmgren will leave his position as head of corporate finance and, as a consequence, his position in the group management of Catella as of today.
As previously communicated Knut Pedersen will succeed Ericsson as president and CEO on 1 January 2014.
CapVest, a European mid-market private equity firm, has acquired Scandza, a Nordic consumer food and beverage business.
Jan Bodd and Stig Sunde, who established Scandza in 2007 and will continue to lead the business, have significantly increased their shareholding as part of the deal.
Scandza, which recorded a turnover of EUR236m (NOK1.8bn) in 2012, has created a fast moving consumer goods platform by taking advantage of consolidation opportunities in what continues to be a fragmented Nordic food and beverage market.
Scandza holds a portfolio of market leading brands in chilled foods, snacking and baked goods. Its portfolio includes
Luca Paolini (pictured), Chief Strategist at Pictet Asset Management, explains why markets will enter a new phase in 2014…
In our view, 2014 will see markets enter a distinct new phase, one in which central bank liquidity – for so long a hugely positive influence on investor sentiment – will have a weaker impact on asset class returns than economic growth. As this transition from a liquidity to growth-influenced market unfolds, world stocks are likely to deliver more muted returns in 2014 while bonds will in the main struggle to break into positive territory.
One certainty for 2014 is that
With Guernsey’s new opt-in AIFMD equivalent regime effective from 2 January 2014, Fiona Le Poidevin, chief executive of Guernsey Finance, explores how the island offers optionality and substance to fund managers.
There is no escaping from the fact that the EU’s AIFMD presents one of the biggest regulatory challenges the European orientated investment management community has seen in recent times.
Indeed, the upcoming 12 to 18 months will prove pivotal in determining the implementation of the AIFMD and the implications for investment houses and their client bases, particularly as European Economic Area (EEA) member states begin to interpret the
Nordic Capital has closed the Nordic Capital Fund VIII at its hard cap of EUR3.5bn (USD4.8bn).
Investor demand exceeded the fund target by nearly 30 per cent.
The new fund will build on the strategy executed by Nordic Capital’s prior seven funds, investing in mid-market companies with strong market positions and clear growth potential across the Nordic region and Europe.
Healthcare investments will continue to play an important role in the fund’s capital allocation.
As with previous funds, Nordic Capital’s experienced investment team will target control oriented investments, supporting growth in portfolio companies through well-defined investment themes.
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