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Lexington Partners, an independent manager of co-investment and secondary acquisition funds, has held the final close of Lexington Co-Investment Partners III and associated vehicles (CIP III), with committed capital totalling USD1.57bn.
CIP III, which held its first closing in 2012, received commitments above its target and is one of the largest dedicated global co-investment funds.
CIP III represents the expansion of Lexington’s 15-year-old co-investment program that has to date been supported by the Florida State Board of Administration (FSBA) and the New York State Teachers’ Retirement System (NYSTRS), two of the largest public pension funds in the US.
Private equity firm Insight Venture Partners is to make a significant investment in Anaqua, a provider of intellectual asset management (IAM) services and SaaS software.
The terms of the agreement, which include the buyout of Anaqua’s existing investors, have not been disclosed.
As part of the transaction, Jeff Horing and Alex Crisses, managing directors at Insight, will join Anaqua’s board of directors.
"This is a very exciting step for us," says Priya Iyer, chairman and chief executive of Anaqua. "Anaqua’s growth has brought us to the point where it is time for a new phase of strategic
Middle market private equity firm GI Partners has acquired One Wilshire, a downtown Los Angeles network facility and data centre. In addition, the firm acquired three fully leased corporate office properties in El Segundo, California.
The acquisition was made through TechCore, a USD1bn discretionary core real estate fund managed by GI Partners on behalf of the California Public Employees’ Retirement System (CalPERS).
One Wilshire is a 30-story building comprised of 663,000 square feet of data centre, office, storage and retail space with a five-level subterranean parking garage. Designed by Skidmore, Owings & Merrill, the property is a premier carrier-neutral telecommunications centre providing
Jennifer C "Jenny” Wheater has joined the corporate practice group of Duane Morris as a partner based in the firm’s London office.
Wheater’s (pictured) addition further strengthens Duane Morris’ global corporate capabilities, particularly in the area of tax issues in the private equity and cross-border transactions. Wheater joins the firm from Proskauer Rose.
Wheater focuses her practice on the tax aspects of a broad range of issues. She has significant experience in structuring private equity, venture capital and other funds, including holding companies, carried interest and deal structures. Additionally, she advises extensively on value-added tax (VAT), corporate residence and
Water Street Healthcare Partners, a private equity firm focused exclusively on the healthcare industry, has completed an investment in RTI Biologics.
Headquartered in Alachua, Florida, RTI specialises in orthopaedic and other biologic implants.
Water Street has invested a USD50m private placement of convertible preferred equity to support RTI with acquiring Pioneer Surgical Technology. The acquisition transforms RTI into one of the world’s leading providers of surgical implants.
As part of the transaction, RTI has appointed two representatives from Water Street to serve on its board of directors. Curt Selquist, an operating partner with more than 35 years of health
North American private equity firms have pivoted from cost-cutting and value-preservation to more of a growth agenda for the companies they back.
This shift has set the stage for positioning companies well at the outset of the deal to achieve successful, higher value exits while also driving higher returns, according to Ernst & Young’s latest study on value creation, "Clear direction, focused vision."
Now in its seventh year, the study examines how private equity investors create value and how PE firms have adjusted their core model in the last cycle of owning, buying and selling.
In a volatile
Carey Olsen and Heritage International Fund Managers have advised on the launch of a new Guernsey closed-ended fund which raised GBP130m on listing on the premium segment of the London Stock Exchange on 12 July 2013.
A first of its kind in the UK, Bluefield Solar Income Fund will focus on investing in large scale agricultural and industrial PV (Photovoltaic) solar assets.
Carey Olsen advised on the establishment of the fund as a Guernsey structure and all relevant regulatory approvals with the Guernsey Financial Services Commission. Corporate partner Ben Morgan and senior associate Annette Alexander led the team and
Ayasdi has raised USD30.6m in series B venture funding, led by IVP with participation from Citi Ventures, GE Ventures, and existing investors Khosla Ventures and Floodgate.
In conjunction with the financing, Steve Harrick from IVP will join Ayasdi’s board of directors.
Six months after the company’s initial launch, Ayasdi’s customers and collaborators include General Electric, Citigroup, Merck, Anadarko, US Food and Drug Administration (FDA), Centers for Disease Control and Prevention (CDC), the University of California San Francisco (UCSF), Mount Sinai Hospital, Texas A&M University, and Harvard Medical School.
Ayasdi has also formed strategic alliances with Cloudera and
Tiger Bay Advisors, a provider of consulting and business process outsourcing (BPO) services to asset managers, has completed its acquisition of Gramercy Park Advisors, a boutique strategic advisory firm focused on the asset management industry.
The combination marks a new type of firm within the industry – one with the means to increase a business’ value by both improving operational efficiency and providing long-term strategic advice.
The combined firm will help clients align day-to-day operational goals with the longer-term goals of accelerating growth, increasing enterprise value and ultimately monetizing favourably. This is based on the belief that a
Steven O’Hanlon, Head of Fixed Income at ACPI Investment Managers comments on the latest RBI figures…
The Reserve Bank of India (RBI) is to tighten domestic market liquidity through various measures including capping the amount of liquidity available at the repo rate, and conducting open market operations.
The upshot of this is higher rates across the curve, with the view to attracting flows into the bond market and the banking system. Rising Indian interest rates can potentially attract more money into the Indian bond market, whilst simultaneously increasing the cost of ‘shorting’ the Indian rupee, thereby discouraging speculative selling.
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