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Paul Christopher is retiring as non-executive director of HarbourVest Global Private Equity (HVPE) and is being replaced on the board by Alan Hodson, effective 30 April 2013.
Christopher (pictured) joined the board in October 2007.
Sir Michael Bunbury, chairman of the board, says: “The board of HarbourVest Global Private Equity is very pleased that Alan Hodson has agreed to become a director. His deep experience of listed markets will be very valuable in helping to guide the future development of the company.”
Hodson is chairman of Blackrock Commodities Income Investment Trust and a director of JP Morgan
While indemnification claims, purchase price adjustments, earn-out achievement disputes, and other post-closing issues in private-target M&A transactions remain common, data shows that claim resolution is becoming more efficient.
SRS | Shareholder Representative Services, the post-closing expert for private-company mergers and acquisitions, has released the 2013 SRS M&A Post-Closing Claims Study, which analyses post-closing issues and payouts across 420 private-target acquisitions, comprising USD66.7bn in stated deal value with USD6.7bn held in escrow and USD9bn in potential earn-out consideration.
The study presents aggregate data from nearly 700 claims, including new data points on specific claim types, claim and escrow payouts,
High Road Capital Partners’ portfolio company Dowden Medical Communications Group (DMCG) has completed its second add-on acquisition with the purchase of Princeton, New Jersey-based Tricore.
Tricore is a developer of customised learning modules and mobile training solutions for the pharmaceutical and life sciences sectors.
DMCG is a provider of promotional medical education communication services, scientific content development, and related marketing services to the pharmaceutical and biotechnology industries. DMCG completed its first add-on in November 2012 with the acquisition of QD Healthcare Group.
“Pharmaceutical companies are increasingly relying on third-party firms for their professional development needs. Tricore’s expertise in
Sterling Trust, a custodian of alternative assets, has completed a name change to Equity Institutional, a Division of Equity Trust Company.
As a result of growth and the 2009 acquisition of Sterling Trust, Equity Trust Company has more than doubled in size in the last few years and now services more than 10,000 financial professionals, 130,000 clients and hold more than USD12bn in assets under custody.
Equity Trust made the commitment to accommodate future growth and to provide exceptional value to its Institutional clients. This commitment began with massive system conversions, technology enhancements, and servicing improvements to retain
Mid-market advisory firm Clearwater Corporate Finance has promoted four corporate finance specialists across its UK offices.
John Clarke (Manchester) and Sebastian Saywood (Nottingham/Birmingham) have been promoted to director, while James Dykes (London) becomes assistant director and Paddy Bamford (London) takes up a new role as director of real estate.
Clarke (pictured) has over seven years’ corporate finance experience. He graduated with a degree in Mathematics at Imperial College before qualifying as a chartered accountant and joining Clearwater in 2010. Recent transactions Clarke has advised on include the sale of Direct Group for LDC and the acquisition of Dunedin
Arsenal Capital Partners has acquired Arnco, a supplier of polyurethane products.
Arnco is the first acquisition of Arsenal under the umbrella of Dash Multi-Corp, a platform portfolio company focusing on the specialty technologies of polyurethane systems, vinyl plastisols and recycled rubber products.
Established in 1971, Arnco operates through five main business units: Arnco Tire Flatproofing, a manufacturer of tyre flatproofing systems; Arnco Performance Polymers, a manufacturer of high-performance polyurethane systems; Carefree Tire, supplier of an extensive line of light weight solid, micro-cellular polyurethane tires; Arnco Construction Products, which creates flexible and rigid roofing spray foams and UV protective
The OPSEU Pension Trust (OPTrust) has reported gross investment results of 10.1 per cent for 2012, surpassing both its funding target return of 6.5 per cent and its composite benchmark.
Since its inception in 1995, the plan has achieved an average annual rate of return of 8.6 per cent. These results have helped OPTrust maintain its position as a fully-funded pension plan.
The plan’s net assets increased to USD14.7bn at year-end (USD13.7bn as at 31 December 2011) after paying over USD745m in pension benefits in 2012.
“The ongoing commitment to the plan by its sponsors, board of
Several major private equity firms have formed a global industry alliance called the AltExchange Alliance.
The AltExchange Alliance has launched the private equity industry’s first comprehensive standard for data formats.
The common format defined by this new standard aims to transform the way general partners, limited partners, fund of funds and fund administrators share, aggregate and analyse data.
"The problem the industry has been facing for years is the ability to effectively process ever increasing volumes of data," says Johnny Randel (pictured), chief financial officer of StepStone and AltExchange founding member. "Firms have been spending considerable time
Private equity firm Resilience Capital Partners has appointed Theodore Laufik as chief financial officer and chief compliance officer and Robert Northrop as senior vice president – operations group.
It has also promoted Michael Cavanaugh to partner and Megan McPherson to vice president.
Laufik (pictured) joins Resilience with more than 25 years of private equity experience with Morgenthaler and Foundation Medical Partners. He began his career with Deloitte and is a Certified Public Accountant.
"Ted’s tremendous background and depth of experience will be an invaluable asset to our firm. His experience in both private equity administration and investor relations
The board of the Channel Islands Stock Exchange (CISX) has appointed Jon Moulton as director and chairman.
He takes over from interim chairman Graham Hall, who remains on the board and will temporarily assist to ensure an effective handover.
Moulton (pictured) is a non-executive chairman of FinnCap, the stockbroker. A chartered accountant, a corporate financier and a fellow of the Institute for Turnaround Professionals, Moulton is chairman of Better Capital and chairman of Aurigny Group. He is a trustee of the UK Stem Cell Foundation and an active angel investor. He is a director of the UK Government
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