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Ultra-wealthy investors are looking to increase their exposure to small company debt across the UK and continental Europe as traditional lenders continue to deleverage, according to Stonehage.
Stonehage, which manages the business and lifestyle assets of over 1,000 wealthy families, is targeting loans to companies through prospective partner funds, which specialise in European SME investment, with a particular focus on countries such as Germany and the UK.
According to Stonehage, it is considering allocations to European SME debt of up to five per cent per client portfolio. Stonehage is targeting annual returns as high as 15 per cent
Funds affiliated with Apollo Global Management have signed a definitive agreement under which Apollo will acquire Pitney Bowes Management Services (PBMS) for approximately USD400m in cash.
The transaction, which is subject to customary closing conditions, is expected to close in the fourth quarter of 2013. Until then, Pitney Bowes will continue to operate PBMS.
“This transaction represents a tremendous opportunity for both Pitney Bowes and PBMS,” says Marc Lautenbach (pictured), president and chief executive, Pitney Bowes. “It is part of our continued evolution into a company better aligned to address the needs of clients while focusing on the
NXT Capital has closed the NXT Capital Senior Loan Fund II, a USD783m leveraged loan fund that will invest in senior debt transactions originated and underwritten by NXT Capital’s corporate finance group.
These include senior secured, stretch senior, unitranche, second lien, term over revolver and last-out term loans made primarily to private equity-sponsored middle market companies in a wide range of industries.
Senior Loan Fund II represents a substantial expansion of the corporate finance group’s existing USD1.5bn asset management platform and further extends the company’s ability to serve its middle market client base. The fund received equity commitments
L’ArcoBaleno has secured a seven-figure financing round from a group of international investors.
L’ArcoBaleno is positioned to lead the luxury design industry by bringing a curated marketplace of intriguing and valuable furniture, lighting, crafts and decorative arts direct to consumers.
Since its launch in June, consumers around the world are acquiring collectible material at L’ArcoBaleno including objects ranging in price up to USD40,000.
Led by venture capital firm Holtzbrinck Ventures L’ArcoBaleno’s latest funding round also includes DN Capital, Otto Capital BV and Novel TMT Ventures. Individual investors Carmen Busquets, Frederic Court and Christophe Maire have all contributed
Activa Capital and Bpifrance have signed agreements with the managers of Nexeya and several financial shareholders relating to the acquisition of a majority block representing 57.9 per cent of total capital and 58.7 per cent of voting rights for EUR12.00 per share.
Nexeya is an industrial group which operates mainly in the defence, aeronautics and transportation sectors.
The transaction, to which the main managers and founders of Nexeya are fully associated, aims at providing the company with a new reference shareholder to support the implementation of its development strategy.
As part of the transaction, Activa Capital and Bpifrance
Silicon Valley venture capital firm Accel Partners has appointed Hilary Mason as data scientist in residence.
She will serve as an advisor to the firm’s portfolio companies and assist with evaluating new technologies and investment opportunities.
"Hilary’s data science expertise coupled with her interest in mentoring entrepreneurs makes her the perfect addition to our team," says Ping Li, Accel partner. "As one of the prominent thought leaders from NYs vibrant tech scene, we’re excited to work with her as we add more data driven software start ups to our portfolio."
Mason (pictured) will be working from Accel’s
RoundTable Healthcare Partners, an operating-oriented private equity firm focused exclusively on the healthcare industry, has completed the acquisition of Santa Cruz Nutritionals (SCN) from Levine Leichtman Capital Partners.
SCN, founded in 1968, is a manufacturer of gummy vitamin, mineral, supplement (VMS) and other nutraceutical products in the US. Financial terms of the transaction were not disclosed.
Lester Knight, a founding partner and co-chairman of RoundTable, will serve as chairman of the board of Santa Cruz. Mike Westhusing, chief executive officer, and Randy Bridges, chief financial officer and chief operating officer, will continue to lead the company’s management team and
SigmaCare has secured new equity funding from healthcare investment firm Marlin Equity Partners and existing investors.
SigmaCare provides clinical software to the long-term and post-acute care market enabling providers to improve quality of care and financial results by driving down costs, increasing revenue and reducing risk and re-hospitalisations.
"The funding from Marlin Equity Partners will allow SigmaCare to expand our nationwide presence, accelerate product innovation and strengthen interoperability initiatives," says Steve Pacicco, chief executive of SigmaCare. "Marlin’s broad resources and expertise make them the right partner to help SigmaCare address the rapidly changing needs of our customers and
Summer Street Capital Partners, a Buffalo, New York-based private equity fund, has appointed Amy Standing as chief financial officer.
Concurrently, Summer Street’s current CFO, Ron Fleissner will begin his transition into retirement.
Standing joined Summer Street in June 2013 from Discover Financial Services, a publicly traded direct banking and payments company. At Discover, Standing worked in business development and as chief of staff. She has over 20 years of experience in finance, accounting, tax and risk management, which is complemented by her strong background in SEC reporting and compliance.
"The breadth of Amy’s core competencies and experience
Green Innovations has settled over USD2.6m in trade payables, removing these obligations from its balance sheet, in exchange for the issuance of shares of its common stock to Ironridge Consumer Co, an institutional investor specialising in direct equity investments in consumer product companies.
As a result of the transaction, Green Hygienics, a wholly-owned subsidiary of Green Innovations, has turned strategic payables on the balance sheet into equity. In addition to significantly strengthening the balance sheet, the transaction will enable the company to focus on increasing sales and its ongoing efforts to develop high-quality eco-friendly products made from sustainable and
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