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Wellington Financial, a privately-held specialty finance firm, has provided a USD2m venture debt financing for Salsa Labs of Washington, DC.
Salsa provides an integrated toolset for non-profit organisations to grow and engage their supporter base for their respective causes through online fundraising, advocacy and outreach with an easy-to-use, online organising platform.
"More than 2,000 organisations, including political campaigns, non-profit groups and other associations from small two-person organisations to global institutions are using Salsa’s state-of-the-art platform to manage their online supporters in a more effective manner," says Mark Usher, partner of Wellington Financial. "In addition to their software-as-a-service product,
Lloyds Bank Commercial Banking’s acquisition finance division has appointed Eric Jenkins as a director.
The experienced hire supports the bank’s offering to private equity firms and corporates targeting buyouts and refinancings in the large deals segment (EUR500m plus of debt), including those transactions funded via the high yield bond market.
Jenkins, who has more than 15 years’ high yield and leveraged loan product experience, joins from Morgan Stanley where he spent seven years in leveraged and acquisition finance. Working across the business’ London and New York offices, he led the origination and execution of a number of high
EQT has invested CHF44m in Swiss dental chain swiss smile based on a partnership agreement with the founders and majority owners Dr Haleh Abivardi and Dr Golnar Abivardi.
The sisters are both dentists and founded swiss smile in 2002. The existing minority shareholders have been bought out with the new funds provided by EQT.
swiss smile operates several clinics in Switzerland and has franchises or joint ventures in UK, Russia and India. The company is the leading quality dental chain in Switzerland with a 28 per cent market share among dental chains. swiss smile also has its own
Change Healthcare has closed its latest round of financing, securing USD15m led by HLM Venture Partners.
New investor Noro-Moseley Partners also participated in the financing round, as did all existing institutional investors – BlueCross BlueShield Venture Partners, Sandbox Industries, Mitsui & Co. Global Investment, Gary and Mary West Health Investment Fund, and Solidus Co.
"There has been a dramatic increase in the nation’s focus on healthcare cost transparency. Today’s consumers not only need access to cost information, but also a means to take greater control of their healthcare," says Doug Ghertner, president and chief executive of Change Healthcare.
Alternative asset manager The Carlyle Group has appointed Susan E Arnold, former Procter & Gamble president of global business units, as an operating executive in its global consumer and retail group.
She takes up her post in September.
As an operating executive, Arnold (pictured) will provide strategic guidance to Carlyle professionals throughout the investment process, from sourcing to acquisition to exit and advise portfolio company executives on management, operational, branding and growth strategies. She joins a group of 24 senior business executives – with an average of 40 years of experience – who help Carlyle create value across
ALPS Fund Services, a provider of administration services to the alternative asset management industry, has expanded its broker/dealer solution to service private funds through ALPS Distributors.
The expanded service will provide an avenue for private fund managers to navigate the rules and regulations regarding the sale of private placements.
In recent months, the SEC examination staff has increased its focus on private fund advisors as was noted in a 5 April 2013 speech given by David Blass, chief counsel, division of trading and markets: “I would like to be sure that the private fund adviser community is not
Revelry Brands, an investment firm focused on providing growth-stage private equity in the natural foods and consumer products categories, has named Gil Fronzaglia as chief operating officer and Seth Beers as chief financial officer.
"The addition of both Mr Beers and Mr Fronzaglia adds significant depth to our executive team," says Brendan Synnott, co-founder of Revelry Brands. "Their unique understanding of the natural products consumer coupled with proven track records of accelerating growth at early-stage companies makes both gentlemen a very welcome addition to Revelry."
Fronzaglia joins Revelry with a significant background in helping private equity backed, high-growth
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
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