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Lightyear Capital, a New York-based private equity firm focused on financial services investing, has appointed Richard Korhammer as senior adviser.
Korhammer (pictured) will draw upon his extensive background in financial technology to help identify and evaluate financial technology and capital markets investment opportunities for Lightyear.
In 1999, Korhammer co-founded Lava, an equities and foreign exchange direct market access and order management system provider. As CEO, Korhammer guided Lava from its inception through Lava’s acquisition by Citigroup in 2004. After the purchase, Korhammer remained at Citigroup as the head of global equities electronic execution.
Korhammer currently serves as the
Two of the first three UK fund managers to achieve Financial Conduct Authority approval under the Alternative Investment Fund Managers Directive have selected private equity specialist Ipes to provide depositary services.
Under the AIFMD, UK private equity firms could benefit from a FCA “passport” to market their funds in Europe. To achieve this, firms need to fulfil criteria including the appointment of an independent depositary.
On 22 July 2013 Doughty Hanson, one of the largest independent private firms in Europe, became amongst the first firms to be authorised under the EU AIFMD. Such authorisation entitles it to
Mercia Fund Management (MFM) portfolio company PolyTherics has merged with Antitope, a provider of antibody engineering and immunogenicity screening services, to create an enlarged group with an extensive suite of services and technologies to enable the development of better biopharmaceuticals.
PolyTherics is issuing new shares up to an aggregate value of GBP13.5m to fund the merger with Antitope and to provide working capital. Imperial Innovations led the investment and brought in new investor Invesco Perpetual with further funds provided by Mercia Fund Management and Advantage Enterprise & Innovation Fund.
The PolyTherics group has a strong client base in
NewSpring Capital has led a USD15.65m equity financing in VidSys, a provider of physical security information management (PSIM) software.
NewSpring Capital, a family of private equity funds, invested through NewSpring Growth Capital, the firm’s dedicated technology and business services growth equity fund. Also participating were VidSys’ existing investors – Atlanta Equity, Flybridge Capital Partners, JVax Investment Group and Motorola Solutions Venture Capital.
VidSys provides a PSIM software platform used to run operations centres for public sector agencies and businesses globally. The platform continuously fuses and instantly correlates vast amounts of data gathered from any number or virtually any
Clearwater Corporate Finance’s debt advisory and real estate team has advised holiday caravan park operator Park Resorts on its recent debt and equity refinance of the company.
The deal team was led by partner and head of debt advisory Chris Smith with support from director Paddy Bamford.
Park Resorts operates 39 UK coastal holiday parks across England, Scotland and Wales, incorporating both a holiday sales business as well as a caravan sales business. With headquarters in Hemel Hempstead, it employs over 2,500 staff during the peak holiday season.
Clearwater led the refinancing negotiations for the company with
Wool and the Gang has secured funding of USD2.8m to build on its fast-growing reputation for sustainable fashion, which harnesses the power of the internet and the creativity of the maker movement.
The funding round was led by Index Ventures and Wellington Partners, together with MMC Ventures and a number of other tech investors. The funding enables Wool and the Gang to develop its Gang Collection and marketplace, as well as expanding its existing markets in the US, UK, Europe and Japan.
Wool and the Gang’s vision is to reboot old-style home manufacturing, slashing the time to market for fashion
ACE USA, the US-based retail operations of the ACE Group, has released a white paper exploring the insurance and risk management issues that global companies and private equity firms confront when seeking strategic merger and acquisition growth opportunities in the marketplace, in particular the ever-expanding and stricter environmental liability laws and regulations.
Such liabilities encompass a broad range of perils, including pollution, contamination, mould, hazardous waste, and toxic chemicals in water, air, or on land. Identifying these exposures, and assembling an effective insurance strategy to transfer environmental liabilities, is a vital element of the M&A transaction process.
“M&A
ECP’s Fund III portfolio company, IHS Mauritius, has secured an additional USD1.035bn of equity and debt to fund new tower purchases and existing tower upgrades.
Following the equity capital raising process, which was led and managed by ECP, IHS has secured a total USD555m of new investment from an Asian sovereign wealth fund (marking its first African investment) as well as from existing investors including Wendel (the European investment firm) and other ECP co-investors.
The World Bank’s International Finance Corporation supplied USD280m financing to IHS’s Nigeria operations while a syndicate led by Ecobank supplied USD200m of debt for
FrontLine Compliance, a regulatory compliance consulting firm servicing investment advisers, broker-dealers, hedge funds, private equity firms, investment companies and insurance company affiliates, will open its new office headquarters at 6010 Executive Boulevard in Rockville, Maryland on 1 August.
The firm will continue to be based in the Washington, DC metropolitan area. The firm’s new location provides an expanded and modern office environment with close proximity to the primary securities industry regulators that include the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
The firm’s new address is located within the current re-development of
TPG, one of the world’s largest private equity firms, has been awarded over USD500,000 in sanctions against three hedge funds who had been pursuing unsuccessful involuntary bankruptcy petitions against two former TPG related companies.
A New York Bankruptcy Court granted the award last week (18 July 2013).
Law firm Kasowitz Benson Torres & Friedman represented TPG as the three hedge funds pursued the firm in courts around the world for the past three years. The team included Andrew K Glenn, Paul M O’Connor III, and Michele L Angell.
Stamell & Schager represented the three hedge funds, referred
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