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The Abu Dhabi Investment Authority (ADIA) has appointed John McCarthy as global head of infrastructure, effective immediately.
McCarthy will be responsible, in collaboration with senior management, for developing and implementing investment strategy for the infrastructure division and overseeing all day-to-day activities of the Infrastructure team. This includes managing ADIA’s existing portfolio of infrastructure investments, as well as working with team members to originate and execute on new transactions.
Based in Abu Dhabi, McCarthy will report to Majed Al Romaithi, executive director of the real estate and infrastructure department.
Al Romaithi says: "John has a strong reputation as
Private equity firm AnaCap Financial Partners has sold Cabot Credit Management (CCM) to funds managed and advised by JC Flowers & Co.
The transaction agreements have been signed, and the transaction is expected to complete imminently.
CCM was formed after the merger in April 2011 of two businesses, Apex Credit Management and Cabot Financial, purchased by funds advised by AnaCap and its coinvestors, Morgan Stanley Alternative Investment Partners and Partners Group.
Following the integration of the two businesses, backed by AnaCap’s intensive operational engagement, CCM has become a market leading acquirer and manager of consumer debt with over
Private equity firm Advent International has appointed Michael Ming-Yue Zhu, country general manager of Solvay China, to its operating partner programme.
Zhu will advise Advent on investment opportunities in the chemicals sector, one of the firm’s core sectors.
Advent has also appointed William Tsao, who worked at DuPont for more than 35 years, as an industry advier in the chemicals sector in China.
Zhu is a highly respected executive in the Chinese chemicals sector and has over 30 years of industry and government experience. He has recently assumed the position as China country general manager of Solvay
PineBridge Investments has strengthened its growing Middle East, North Africa and Turkey team with the appointment of Wael Aburida as chief investment officer.
Aburida (pictured) will lead PineBridge’s MENA private equity and real estate team covering the Middle East, North Africa and Turkey, with responsibility for deal origination, negotiations, execution, portfolio management, and exits.
Based in Bahrain, Aburida will report to Talal Al Zain, chief executive officer at PineBridge Investments Middle East.
Al Zain says: “I am pleased that Wael has joined our expanding regional team of exceptional investment professionals. Wael is an ideal fit for PineBridge,
Over three-quarters of SME business managers want the UK to stay in the European Union and fear that leaving could damage the economy, according to research conducted by private equity house Key Capital Partners.
This comes as senior Conservatives continue to back calls for Britain to leave the EU and pressure increases on David Cameron to legislate for a referendum.
Tory grandees Nigel Lawson and Norman Lamont called for Britain to quit the EU and are in favour of a referendum on the UK’s membership. Likewise, Education Secretary Michael Gove made it clear that leaving the EU would
Subject to regulatory approval by the Istanbul Bar, the law firm of Edwards Wildman Palmer intends to open an office in Istanbul and to operate in an exclusive association with the Ismen law firm, a boutique M&A and private equity law firm based in Istanbul, Turkey.
Edwards Wildman will work closely with Ismen in advising a broad range of clients on cross-border private equity and corporate-backed M&A transactions throughout the Central & Eastern Europe, Middle East and Northern Africa (CEEMENA) region and other emerging markets.
“Istanbul has become a hub for sophisticated M&A and private equity activity
Zoove Corp has secured an investment of USD15m from existing series D investors, Rogers Venture Partners and Panorama Capital, along with additional investment from the company’s early stage investors, Worldview Technology Partners and Highland Capital.
This new funding will allow Zoove to expand through all areas of the business, with emphasis on product expansion, business development and marketing.
After securing relationships with all four major mobile carriers, AT&T, Sprint, T-Mobile, and Verizon Wireless, Zoove became the first and only organisation to offer unique vanity mobile numbers that allow brands to provide any content experience to consumers via a
Idinvest Partners, a pan-European private equity firm, has held an interim closing at EUR205m of its new investment vehicle exclusively dedicated to senior debt.
The fund, Idinvest Dette Senior, aims to surpass EUR250m by its final close, expected for the end of June 2013.
The initial investors are mainly major insurance companies. With this new fund, Idinvest Partners raises its profile in corporate finance where it currently has nearly EUR600m in assets.
The fund will finance senior acquisition debt incurred by unlisted European companies with solid fundamentals, moderate leverage and a robust business model.
“The main
A dearth of debt to support transactions hit the values being paid for private equity deals hard in the first three months of 2013, 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 sharp contraction of the values paid for private equity deals of 36 per cent from 12.0 in Q1 2012 to just 7.7 in Q1 2013, its lowest point since Q4 2009. At the same time, the number of
GraphLab has closed a USD6.75m series A funding round led by Madrona Venture Group and NEA.
GraphLab is innovating on the popular open source distributed graph computation framework (graphlab.org) that is used millions of times per day to deliver recommendations through popular consumer services.
Founded by data scientist and entrepreneur Carlos Guestrin (pictured), who began the GraphLab open-source project five years ago, GraphLab is building a commercial product for applying advanced machine learning to massive graph datasets. The company is based in Seattle and will continue to actively support the open source GraphLab project.
"Data has
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