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Blackstone has closed on its acquisition of Strategic Partners from Credit Suisse.
Strategic Partners is a secondary private fund of funds business, with USD10bn in assets under management.
Strategic Partners seeks capital appreciation through the purchase of secondary interests in private equity, real estate and venture capital funds from investors seeking liquidity on a fair, timely and confidential basis. From its start in 2000, it has raised over USD11bn of capital commitments, completed over 700 transactions, and acquired over 1,500 underlying limited partnership interests.
Strategic Partners’ team of 29 secondary investment professionals is headed by Stephen Can
A marked improvement in the availability of debt financing for mid-market private equity deals has seen PE deal values rise to their highest level in a year, according to BDO’s latest Private Company Price Index/Private Equity Price Index (PCPI/PEPI).
The index, which compares the EV/EBITDA ratios being paid on the sale of private companies to trade (PCPI) and private equity (PEPI) buyers, showed a quarter-on-quarter jump of 36 per cent on the values paid for private equity deals – up to 10.5 in Q2 2013, from 7.7 in Q1 2013 – and marking the end of a decline that had
Investec Growth & Acquisition Finance has provided follow-on financing to existing client 2M Group, owner of chemicals distribution businesses Surfachem and Banner Chemicals, to fund its recent acquisition of INEOS ChlorVinyls’ packed chlorine business.
In March 2012, Investec backed 2M’s chairman Mottie Kessler on the buy-out of the business from its co-founder Ieuan Thomas. This was followed in July 2012 by the acquisition of Northampton-based KMZ Chemicals, which augmented the business’ specialty chemicals product offering.
The INEOS Acquisition is Investec’s third deal with 2M and marks the business’ entry into the industrial gas distribution sector, servicing the UK
Equistone Partners Europe has acquired Karl Eugen Fischer Beteiligungs, a portfolio company of Equita.
Equita was advised by Baird, a mid-market investment bank.
Based in Burgkunstadt, Germany, Karl Eugen Fischer specialises in tyre cord cutting machinery.
Equita is an independent, non-bank-affiliated investment company based in Bad Homburg, which invests in mid-sized companies in the German-speaking countries.
Equistone Partners Europe is an independent investment firm that operates across France, Germany, Switzerland and the UK.
Mandarin Capital Partners has sold its portfolio company Gasket International to Hutchinson.
Mandarin was advised by Baird, a mid-market investment bank.
Italy-based Gasket International is a designer and manufacturer of premium quality valve sealing solutions for critical applications in the oil and gas industry. With two facilities in Italy and one in China, Gasket serves over 200 valve OEMs across the globe.
Private equity firm Mandarin Capital Partners invests in small and medium sized businesses in Italy and China.
France-based Hutchinson is a global, diversified manufacturer of thermoplastic elastomer and rubber solutions serving the aerospace, automotive,
Terra Firma has reached an agreement to sell 100 per cent of Carmel Capital II, including its wholly owned subsidiary Phoenix Natural Gas Limited, to Hastings’ managed fund Utilities Trust of Australia (UTA) and The Royal Bank of Scotland Group Pension Fund (RBSGPF).
Hastings manages an unlisted infrastructure mandate for RBSGPF.
Phoenix is Northern Ireland’s largest natural gas distribution and energy services company. Phoenix Natural Gas owns and operates the Greater Belfast natural gas network and is responsible for making gas available to around half the population of Northern Ireland.
Guy Hands, chairman of Terra Firma, says:
NTT Communications, Arkadin International and AXA Private Equity have entered into exclusive negotiations over NTT Com’s acquisition of a majority stake in Arkadin.
The agreement will be implemented after the necessary notification and consultation with the relevant works council. The management of Arkadin will reinvest alongside NTT Com. The agreement remains subject to the authorisation of the antitrust authorities.
Arkadin offers a wide range of conference-related solutions covering audio, web, video conferencing and unified communications services. It serves approximately 37,000 customers in 32 countries, including France, Germany, the UK, US, Australia, China, Singapore and Japan. The company was
Jersey’s proactive and flexible approach to the adoption of new international regulation will ensure its funds industry can look forward to a positive future, according to Ben Robins, the new chairman of the Jersey Funds Association (JFA).
Elected into the position of chairman at the recent AGM (19 July) of the trade association that represents Jersey’s funds industry, Robins (pictured) is joined by Tim Morgan, who becomes vice chairman.
A partner and head of the funds practice area at Mourant Ozannes, Robins has extensive experience in investment funds, offshore capital markets and structured finance. Having qualified as an
North Bridge, an active partner for early-stage entrepreneurs, has promoted Matt Blodgett to partner.
In addition, North Bridge is has promoted Holly Maloney to principal and Kaitie Donovan has returned as principal to the growth equity team.
Since joining the firm in 2007, Blodgett has developed investment partnerships with Aeropost, BrightTALK, Leapfrog Online and Spil Games and also played an instrumental role in the firm’s investment in Proto Labs. In March, Blodgett was elected to Proto Labs’ board of directors.
“Matt has been an indispensable member of our team since day one,” says Doug Kingsley, managing director
Atlanta-based AHC Media has been acquired by local industry executives and Lone Peak Capital Group.
David R Fournier, the new chief executive of AHC Media, has a long history in the technology and publishing industries. Brand director Beth Schilling has over 25 years’ experience in pharmaceutical and healthcare sales and marketing.
Lone Peak Capital Group, located in Atlanta and founded by Ana Kolar, Brian Simmons, and Kyle Tomlin, is a private investments firm that also provides corporate financial solutions.
In 1974, Leslie C Norins started American Health Consultants (AHC) in Atlanta, growing the medical publishing company to one
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