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Platte River Equity has appointed Kristian Whalen as managing director.
Whalen comes to Platte River following the raising of its USD405m third fund, which closed in late 2012.
Whalen brings 15 years of experience as a private equity investor in numerous industrial and service-based operating companies. He will focus on investments in Platte River’s target industrial sectors, which are complementary to Whalen’s prior experience.
Prior to joining Platte River, Whalen was a managing director and co-head of diversified industries in the New York office of Vestar Capital Partners. At Vestar, Whalen pursued management buyout transactions across a broad spectrum
EMIS Group has conditionally agreed to acquire Ascribe Group, a software and IT services provider to the UK’s secondary healthcare market, from ECI Partners and certain other vendors for an initial enterprise value of GBP57.5m.
Ascribe was taken private by ECI from the AIM market in January 2009 in a GBP33m public to private transaction. This deal provides an initial consideration of GBP57.5m with further monies due contingent on short term performance. From the initial cash consideration alone, ECI has yielded a 2.1x return on its investment.
As part of this transaction, Numis Securities has placed 4,400,000 new
Cushman & Wakefield has appointed Oriol Barrachina, partner and current director of Cushman & Wakefield in Barcelona, as the new managing partner for Spain with effect from 1 January 2014.
Barrachina (pictured) will take over from Roger Cooke, who has led the Spanish business since 1995. Cooke will remain at the firm through the transition period.
Barrachina joined the firm in 1997 and was made partner and member of the Spanish board in 2002. He has been head of Cushman & Wakefield’s Barcelona office since 2005. Barrachina currently holds national responsibilities for co-ordinating the service lines of business space, property and
Mark Cummings has joined Walkers’ Hong Kong office, strengthening the firm’s position as a Pan-Asian provider of offshore legal services.
Cummings joins the office’s investment funds group as counsel. He previously worked at Appleby Global and has extensive experience in advising on the laws of the Cayman Islands and the British Virgin Islands, with regard to structuring and establishing investment funds, both private equity and hedge funds.
Cummings has been practising offshore since 2007, having spent a couple of years based in the Cayman Islands before moving to Asia.
“We’re extremely pleased to welcome Mark as we
Morgenthaler Technology Investment Company has closed the Canvas Venture Fund at USD175m, which is above its private placement memorandum target of USD150m.
Managing directors Gary Little, Rebecca Lynn and Gary Morgenthaler will continue their focus on early-stage companies (primarily Series A and B) in the software and services area.
The Canvas Venture Fund, which was formed at the end of August 2013, is the first in a series of early-stage tech funds expected to be raised by Morgenthaler Technology Investment Company.
The Canvas Venture Fund’s investment criteria include:
• Sector: software and services
• Stage: Series A
The Russian Direct Investment Fund (RDIF) and Abu-Dhabi’s department of finance have created a partnership for investing in Russian infrastructure projects and developing cross-border investment cooperation between the countries.
Under the agreement Abu-Dhabi’s department of finance will invest up to USD5bn in the partnership.
When implementing investments, the parties will be guided by the principle of obtaining the attractive returns on invested capital.
It is expected that partnership will officially be formed by the end of 2013.
Kirill Dmitriev, chief executive, RDIF, says: “We are pleased to welcome our partners from Abu Dhabi’s department of finance.
Citi has surpassed USD500 billion in alternative assets under administration – over USD300 billion in hedge fund assets under administration, and over USD200 billion of committed private equity capital under administration.
“Our leading solutions across the hedge fund and private equity asset classes have positioned us well to capitalise on the ever increasing trend towards convergence of styles in alternative asset management,” says Mike Sleightholme, Global Head of Hedge Fund Services, and Joe Patellaro, Global Head of Private Equity Services, in a joint statement. “As institutional investors continue to demand more operational capabilities from their alternatives managers, Citi is there
Confluence, a provider of data management solutions, has acquired Data Agent, a provider of alternative investment industry data management and reporting solutions.
Already a provider of Form PF and Form CPO-PQR reporting solutions, Data Agent brings the experience and expertise to position Confluence to provide a data management and automated solution to solve the complex regulatory reporting demands of the Alternative Investment Management Fund Directive (AIFMD).
Confluence made the announcement as the company debuts its Unity NXT AIFMD Transparency Reporting solution at the ALFI Global Distribution Conference 2013 in Luxembourg.
Like Confluence, Data Agent delivers value to
EMW, the commercial law firm, has advised Whitworths senior management on the offer to them to subscribe for employee shareholder shares.
EMW says that the deal is believed to be one of the first deals to take advantage of the new employee shareholder status which became available from 1 September.
Under the terms of the deal, the senior management team are being offered equity in Whitworths, which will (subject to certain conditions being met) be exempt from capital gains tax, making the shares more attractive to employees.
Ian Morris, the EMW principal who led the deal for
Guernsey’s finance industry had a stable second quarter and is already showing signs of renewed growth in the second half of the year.
Previously released figures from the Guernsey Financial Services Commission (GFSC) showed an uptick across each of the investment funds, banking and insurance sectors during the first quarter of the year.
This has continued in the insurance sector, where there has been net growth of 37 entities between the end of last year and the end of July 2013. However, the net asset value of investment funds under management or administration in the Island fell GBP10.5bn
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