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Rage Frameworks, a managed service provider of business process automation and big data solutions, has partnered with growth private equity firm Kayne Partners.
Headquartered in Westwood, Massachusetts, Rage was founded by serial entrepreneur Venkat Srinivasan (chairman and chief executive) and launched its managed services business in 2006. Rage delivers its software through a technology platform on a subscription basis. The company’s solutions enable large enterprise clients to automate manual business processes and use big data analytics to inform decision making.
“We are proud to have the support of Kayne Partners at this important juncture in Rage’s growth. Our partnership
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has opened an office in Dallas to help support a growing client base in that market.
Abacus Group’s expansion, which included the addition of 57 new funds this year, was prompted by increased demand in the Dallas market from new and existing fund managers. While an improved economic environment in 2013 has contributed to new fund launches, heightened regulatory pressure on the business has prompted funds to seek more cost efficient business technology models that meet new requirements.
Changes imposed under Dodd-Frank have set
FMO, the Dutch development bank, has appointed a new management board.
Jurgen Rigterink, currently chief investment officer (CIO), is to become chief risk and finance officer (CRFO). He will replace the current CRFO, Nico Pijl, who is due to retire on 1 January 2014. Linda Broekhuizen will succeed Rigterink as CIO.
The intended appointments will take place after informing the general meeting of shareholders and will be effective as of 1 January 2014.
Rigterink has been a member of the management board since 1 October, 2008. Before moving to FMO, he worked as chairman of the management board
Aurora Capital Group, a Los Angeles-based private equity firm with over USD2bn of assets under management, has closed its second resurgence fund at USD550m.
Through Aurora Resurgence Fund II, Aurora will continue to invest in the equity and junior capital of middle market companies, seeking controlling positions in complex situations created by operational or financial challenges.
The fund's broad investment mandate has allowed it to execute on corporate carve-outs, quick sale processes, rescue financings, 363 auctions and secondary debt purchases in both the US and Europe.
"We are delighted to announce the closing of our second Resurgence
North Bridge Growth Equity has held the final closing of its second fund with over USD580m of commitments.
North Bridge Growth Equity now has total capital under management of more than USD1.1bn.
North Bridge Growth Equity II will continue its strategy of investing primarily in privately held, technology and tech-enabled businesses that are entrepreneur owned and managed, and have grown to tens of millions in revenue with little or no outside capital.
“We are pleased to announce the closing of North Bridge Growth Equity II and are grateful for the continued support of our longstanding investors, as well
The Securities and Exchange Commission has voted unanimously to propose rules under the JOBS Act to permit companies to offer and sell securities through crowdfunding.
Crowdfunding describes an evolving method of raising capital that has been used outside of the securities arena to raise funds through the Internet for a variety of projects ranging from innovative product ideas to artistic endeavours like movies or music. Title III of the JOBS Act created an exemption under the securities laws so that this type of funding method can be easily used to offer and sell securities as well. The JOBS Act also
GCP Capital Partners, the former European private equity arm of Greenhill & Co, has re-branded as Kester Capital.
This follows the introduction earlier in 2013 of private equity funds managed by Goldman Sachs Asset Management as GCP’s new cornerstone investor, alongside a number of other new institutional LPs, to replace Greenhill & Co.
Kester Capital will be led by Cameron Crockett (pictured) and Adam Maidment, both of whom have been with GCP since 2007. Brian Phillips, chief investment officer at GCP, who led the establishment of GCP for Greenhill in 2006, has moved to a senior advisory position.
Private equity firm HIG Capital has completed the sale of its portfolio company PMSI to an affiliate of Kelso & Company and StoneRiver Group.
Simultaneous with the sale, the company will be merged with Progressive Medical to create a provider of customized and clinically-focused solutions to manage pharmacy benefit management (PBM), durable medical equipment, home healthcare, transportation, translation and Medicare compliance solutions for workers’ compensation industry.
After acquiring PMSI in 2008 from AmerisourceBergen, HIG partnered with management to invest significant resources in PMSI to rebuild its infrastructure and transform its service offering.
The transaction adds to HIG’s track
The impressive gains made by equity markets this year have left valuations looking fuller than they were 12 months ago, says Dean Turner, Investment Strategist at HSBC Private Bank…
Nevertheless, we believe that equities will continue to make progress over coming months, driven by earnings growth that is supported by the recovering global economy.
As the US debt ceiling negotiations reached a positive conclusion last week, investors’ appetite for risk resumed, pushing stockmarkets higher, and driving the S&P 500 index to an all-time high. The recovery of stocks has moved valuations in some markets to within a whisker of their
Guernsey has signed an agreement with the UK on a package of tax measures designed to enhance the automatic tax information exchange provisions already in place between the two jurisdictions.
The island’s Chief Minister, Peter Harwood (pictured), signed the Inter-Governmental Agreement (IGA) in London alongside the UK’s Exchequer Secretary to the Treasury, David Gauke.
The current measures have been in existence since 2005, with automatic exchange of information the only option since 2011.
The IGA is similar to the Model I type agreement being negotiated with the US relating to the Foreign Account Tax Compliance Act (FATCA), which
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