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US Debt Ventures, a private equity firm that has acquired over USD750m in non-performing loans to date, has secured a USD100m revolving credit facility from a major financial institution.
The facility gives US Debt Ventures increased capacity to further expand its successful non-performing loan and REO disposition model.
The firm expects to surpass USD1bn in total portfolio purchases in 2013 and following the close on this financing facility, US Debt Ventures plans to deploy committed capital through national non-performing loan and REO portfolio acquisitions.
Todd Billings, chief executive of US Debt Ventures recently, says: "We are pleased
After nearly 12 months in operation, over 400 limited partner firms and more than 600 general partner firms from 60-plus countries actively use Palico.
LPs, GPs and advisers have connected on more than 500 investment opportunities posted on Palico in the past year.
Palico is the first regulated electronic platform for the full range of private equity fund investment options, including classic fundraisings, co-investments, secondaries and deal-by-deal structures. Using Palico, LPs, GPs and advisers, meet and engage with qualified counterparts on primary, co-investment and secondary opportunities.
Palico helps LPs and GPs connect in a private equity fund
The aggregate value of all disclosed value deals grew 58 per cent year-on-year to USD36.4b, according to Ernst & Young’s Global technology M&A update: January – March 2013.
Deal volume fell 12 per cent YOY and five per cent compared with the previous quarter to 661 deals.
Aggregate disclosed value would have fallen by 48 per cent if not for a single announced technology transaction valued at USD24.4b (Silver Lake Partners and Dell as announced on 5 February 2013).
However, even the large deal values reflected the profound challenges of transforming a strong, well-established company to align
Playnation, the supplier of amusement and leisure machines backed by Palatine Private Equity, has appointed Pets at Home founder Anthony Preston as non-executive chairman.
The appointment comes after the Manchester-based private equity firm backed the management buyout of Playnation, formerly the amusement and leisure division of London-based Inspired Gaming, earlier this year.
Preston (pictured), who is part of Palatine’s executive advisory board, will work alongside Playnation’s chief executive Adam Hodges and the investment team at Palatine to help strengthen the company’s position in the amusement and leisure sector.
Playnation supplies amusement and leisure machinery to holiday parks,
With just over eight weeks to go before the AIFMD transposition deadline, Sebastien Danloy (pictured), Head of Investor Services Europe and Offshore at RBC Investor & Treasury Services, comments on late implementation and its effects on asset managers…
The clock is ticking. Member States have until July 22 to transpose the Alternative Investment Fund Managers Directive (AIFMD) into their national law, but concerns remain over whether they and asset managers will be ready in time. The AIFMD, now just three months away, will usher in a new era for alternative investments by introducing a harmonised framework across the European Union
Irresistible Materials (IM), a UK materials technology company spun-out from the University of Birmingham, has secured GBP290,000 of further support from its investing shareholder Mercia Fund Management and new business angels from the US and UK.
IM has also appointed Stuart McIntosh as its new chairman. McIntosh has 40 years’ experience of the semiconductor industry. Previously, he was the president of ASML a multi-billion pound company and the one of the world’s leading suppliers of lithography tools to the semiconductor industry.
IM was created in 2010 to further develop and commercialise the University of Birmingham’s photo-resist technology for the next
Joseph W Bartlett has joined law firm McCarter & English as special counsel in the firm’s corporate, securities and financial institutions practice in New York.
A recognised pioneer of the national private equity and venture capital bar, Bartlett (pictured) contributed to the original models for private equity and fund of fund partnerships. He has served as president of the Boston Bar Association and as general counsel and undersecretary of the US Department of Commerce. Bartlett arrives from Sullivan & Worcester’s corporate department in New York.
Bartlett’s practice includes serving as counsel to asset managers, including those of major
Tailwater Capital, a newly formed Dallas-based private equity firm, has partnered with Landmark Partners to complete the secondary purchase of HM Capital’s legacy energy portfolio.
Jason Downie (pictured) and Edward Herring will lead a team dedicated to investing in the energy industry with a primary focus on investments within the midstream and upstream sectors.
Tailwater will manage a portfolio that includes BlackBrush Oil & Gas, TexStar Midstream Services and SunTerra Well Services. During their tenure with HM Capital, Downie and Herring were responsible for the sourcing of these investments as well as the oversight of each company’s performance
China, Japan and India are paying more for quality European assets, bucking a trend of declining company valuations throughout the rest of the world, according to a report on global M&A trends.
The EBITDA multiples paid by these countries for deals abroad have been rising over recent years, increasing from 3.8x in 2010 to 5.7x in 2011 and 9.9x in 2012, with this level showing all signs of continuing during 2013.
The core driver behind the trend is the desire by Asian companies to seek out prized Western assets to boost their international footprints, such as China-based Bright
Electranova Capital, the private equity innovation fund managed by Idinvest Partners in association with EDF, has invested in Forsee Power Solutions with the aim of supporting its growth and business development.
Founded in 2011, Forsee Power Solutions is a leading participant in the market for batteries, specialising in integration which entails designing, developing and assembling battery systems.
Forsee Power Solutions operates in a fast-growth market currently undergoing transformation: solutions for power storage needs driven by the development of renewable energies (residential, commercial and industrial power storage), hybrid and electric vehicles, in addition to mobile devices and equipment (electric
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