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EQT Infrastructure II has completed the refinancing of Synagro Technologies under a comprehensive plan of reorganisation approved by the court with the full support of the company’s creditors via the Chapter 11 process.
Synagro is an organic residuals management provider in the US.
Through working constructively with its creditors and backed by EQT Infrastructure II, Synagro’s balance sheet has been completely restructured, including an approximate USD200m reduction in outstanding debt. The new capital structure leaves Synagro with ample operational flexibility to execute on attractive growth opportunities.
"The new balance sheet and support from EQT’s Industrial Network will enable
Nancy Curtin, Chief Investment Officer of Close Brothers Asset Management comments on the upward revision of UK GDP growth…
Barely months after the threat of a triple dip, a series of good economic results for the UK means business and consumer confidence is climbing.
A London-led recovery has spread to the regions and has driven faster growth than expected, and like the US, the UK has shown its resilience in the face of slowing global trade.
A weaker currency, a fall in hourly wages and the rise of ‘zero-hours’ contracts have made Britain more competitive in the absence of an
The SEC has charged an ex-Oppenheimer & Co portfolio manager with misleading investors about the performance and valuation of a private equity fund of funds.
An SEC investigation found that Brian Williamson disseminated quarterly reports and marketing materials to prospective investors misstating that the valuation of the Oppenheimer fund’s holdings was based on values received from the portfolio managers of those underlying funds. Williamson actually valued the fund’s largest investment at a significant mark-up to the manager’s estimated value. He also sent marketing materials reporting an internal rate of return that failed to deduct fees and expenses. As a result, the fund’s
Sierra Ventures, an enterprise-focused venture capital firm, has appointed Al Campa as partner.
Campa (pictured) brings over 25 years of entrepreneurial, leadership and marketing experience to Sierra, including expertise in SaaS, CRM, social, talent management, business intelligence and analytics.
Prior to joining Sierra, Campa held positions in some of the most innovative and successful technology companies, including Taleo, JasperSoft, Actuate, Sybase and Sun Microsystems.
As partner, Campa is responsible for helping Sierra’s portfolio companies scale up with inventive business strategies and go-to-market plans, helping to identify the next phase of entrepreneurs with big ideas that can capture
Private equity firm Levine Leichtman Capital Partners has partnered with management to complete a growth capital investment in Edison, New Jersey-based SFERRA Fine Linens.
SFERRA, founded in 1891, designs and produces branded, Italian luxury linen products of the highest quality for luxury retailers and hundreds of specialty boutiques. The company’s product offering consists of a wide assortment of bedding products which are complemented by a variety of table linens, bath items and decorative accessories.
SFERRA is the first investment from Levine Leichtman Capital Partners V.
Lauren Leichtman, co-founder and chief executive of LLCP, says: "We are
Abax Corporate Services, a provider of corporate management and advisory services in Mauritius, has chosen eFront’s FrontInvest to support and enhance its private equity fund administration operations.
Mauritius offers a number of key market advantages, including tax and investment protection treaties, fair regulations, economic and political stability, as well as an environment promoting business expansion. These attributes have led to considerable growth in private equity fund administration services recently.
In order to accommodate this expansion and the constantly increasing expectations from private equity companies, Abax has selected FrontInvest.
“We wanted to provide our clients with the best
European private equity firm Cinven has reached an agreement to acquire a majority stake in Heidelberger Leben, a provider of retirement and life insurance products in Germany.
Heidelberger Leben will become a consolidation platform for life insurance portfolios in Germany. It is being acquired from Lloyds Banking Group for a total consideration of around EUR300m.
Heidelberger Leben has a portfolio of around 600,000 policies, mainly unit-linked, and EUR5.2bn of assets as at 31 December 2012. It is headquartered in Heidelberg, Germany and employs around 300 people.
Cinven identified the German life insurance sector and Heidelberger Leben as
Alternative asset manager The Carlyle Group has named Matthew J O’Connor as a managing director on the power investing team.
O’Connor joins Bob Mancini as co-head of the team, which is investing a managed account in conjunction with the Cogentrix Energy power group brought over from Goldman Sachs last year.
He joins the firm in September and will work out of Carlyle’s Washington, DC, and New York offices.
O’Connor comes to Carlyle from GE where he held a variety of positions over the last 14 years, including nearly seven years in leadership roles with GE Energy Financial
Nova Capital Management, an acquirer of corporate and private equity portfolios, has appointed Ronald Foy as operating partner.
This follows the recent announcement of Nova’s proposed acquisition of five home improvement and hardware brands from Newell Rubbermaid in North America.
Foy (pictured) will be joining the growing team of operating and investment professionals based out of Nova’s office in Chicago, which opened its doors at the beginning of the year. He was previously president and chief executive at Truth Hardware when it was owned by UK listed group Melrose Plc, and altogether he has over 30 years of experience
AIM-quoted China Private Equity Investment is to invest USD1m in a new private equity investment fund due to be launched by the Hong Kong-based Adamas Asset Management (HK) Limited.
Adamas’s new Greater China Credit Fund plans to raise a total of up to USD275m to target high-return investments in small and medium enterprises (SMEs) predominantly in Greater China across a range of sectors.
It follows successes achieved by an earlier Adamas fund which has already provided investors with exit returns for three out of 11 investments yielding a gross IRR of 27 per cent.
CPE announced plans last
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