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Frontier Capital has made an investment in MultiLing, a translation services provider specialising in intellectual property (IP) and technical materials for global enterprises.
Frontier’s USD10.3m minority equity investment in MultiLing provides growth capital to support the company’s continued expansion. The company will continue to be led by Michael Sneddon, chief executive officer; Lyle Ball, chief operating officer; and Todd Rapier, executive vice president of sales.
“MultiLing is a well-established company with a strong management team and a unique translation model long at work with enterprises such as Procter & Gamble, Dow Corning, and Yokohama Rubber,” says Michael Ramich,
Investments in equity-based alternative asset funds established in developed markets outside the US and in emerging markets ended 2012 with solid results.
Both private fund classes earned their third quarter of positive growth for the year and each had double-digit gains as measured in US dollar terms, according to Cambridge Associates.
The Cambridge Associates Global ex US Developed Markets Private Equity and Venture Capital Index earned 4.6 per cent for the quarter ending 31 December 2012 and 14.0 per cent for the year. For comparison, the MSCI EAFE returned 6.6 per cent and 17.3 per cent for the same periods.
Renewable Resources Group, a California-based asset management firm with a focus on agriculture and other sustainable resources, has purchased Sun World International from Black Diamond Capital Management, an alternative asset management firm based in Greenwich, Connecticut.
"Sun World is an extraordinarily valuable company with a strong and experienced management team and first-class employees who deliver famously delicious fruits and vegetables and industry-leading marketing, licensing and research-and-development operations," says RRG president Ari Swiller. "It’s a company we’ve watched and respected for a long time."
Black Diamond’s Christopher W Parker, who is Sun World’s outgoing chairman of the board, says: "Sun World
Funds advised by CVC Capital Partners have agreed to acquire Domestic & General Group (D&G), in partnership with the existing management team, from Advent International.
Since acquiring the business through a public-to-private transaction in December 2007, Advent has worked alongside the original management team to increase revenues, expand D&G’s presence in continental Europe and introduce new products.
Under Advent’s ownership EBITDA has increased from GBP41m in FY 2008 to GBP83m in FY 2013 (which ended 31 March), while the number of appliances covered has grown to 22 million across the UK, Europe, Australia and New Zealand. Approximately one-quarter
Capital Dynamics, a private asset manager, and the London Business School’s Coller Institute of Private Equity have released a joint report on the connection between team stability and track records.
Contrary to widely held beliefs, they have concluded that higher turnover equals improved private equity performance.
Until now, there was limited evidence to support the theory that team stability is necessary for continued performance; thus Capital Dynamics and the London Business School embarked on a project to gather and examine the data behind the track records. Using data mined from Capital Dynamics’ due diligence database, the researchers analysed
Private equity firm Parthenon Capital Partners has acquired eSecLending, a securities lending agent.
Founded in 2000 to provide an alternative approach to securities lending, eSecLending is the largest independent securities lending agent. Clients include asset managers, pension funds, insurance companies and corporations, whose combined assets under management exceed USD2trn.
As part of the transaction, securities lending industry veteran Craig Starble will co-invest in eSecLending and join as the company’s chief executive officer. Starble was formerly an executive vice president and head of securities finance at State Street as well as chief executive officer of Premier Global Securities Lending.
Parsley Energy has closed on a USD65m preferred equity investment by Natural Gas Partners (NGP).
Parsley is a Midland, Texas-based company that was founded by its chief executive Bryan Sheffield in 2008. With nine rigs running, Parsley is one of the most active operators in the prolific Midland Basin. Since its inception, Parsley has drilled over 270 wells and is currently producing over 17,000 barrels of oil equivalent per day (Boepd) on a gross operated basis and over 5,000 Boepd on a net basis.
Parsley will continue to focus on vertical development in the Wolfberry play and will
Affiliates of GSO Capital Partners (GSO), a division of Blackstone, Wells Fargo and 3Bear management have finalised an equity commitment to 3Bear Energy to pursue the development of North American midstream oil and natural gas assets.
“I am pleased to announce the commitment to 3Bear from GSO and Wells Fargo,” says Bob Clark, chief executive and founder of 3Bear. “This is our second partnership with GSO, one of the preeminent investors in the energy industry. We previously partnered with GSO on the successful development of Bear Tracker Energy, and we look forward to working with them again as we
Funds managed by private equity firm CVC Capital Partners have entered into exclusive final negotiations with Campbell Soup Company following a firm offer made by CVC to acquire certain European activities (excluding the UK, Ireland, Middle East and Africa) of the company.
Campbell Europe is a consumer food business primarily active in Belgium, France, Germany, Sweden and Finland. Campbell Europe owns a portfolio of heritage consumer brands primarily in soups, sauces and bouillons such as Devos Lemmens, Royco, Liebig, Déli Soup, Erasco, Blå Band, Touch of Taste and Lacroix.
In fiscal 2012, Campbell Europe generated annual net sales
SVG Capital has reported an increase of 23 per cent in net asset value per share to 480p for the six months ended 30 June 2013.
This compares to a return of five per cent for MSCI World Index and eight per cent for the FTSE 350 for the same period.
The company has seen GBP101m of capital returned to shareholders in the six month period with a further GBP267 m targeted over the next 23 years.
The sale of 50.1 per cent of SVG Advisers to Aberdeen Asset Management and the formation of a three year strategic
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