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Kohlberg & Company, a private equity firm specialising in middle market investing, has held the final closing of its seventh private equity fund, Kohlberg Investors VII with USD1.6bn in commitments from its investors.
The fund surpassed its USD1.5bn target, closing at its “hard cap” due to strong support from existing investors, together with commitments from other leading institutional investors.
“We received strong investor demand for this fund, and are deeply gratified by the continued support from our existing limited partners and pleased to welcome the limited partners who have joined our investor group,” says Sam Frieder, managing partner
Crestline Investors, an institutional alternative investment manager, has partnered with Kirchner Group to launch a new business unit on the Crestline platform.
The Kirchner team will be the cornerstone of this initiative, called Crestline-Kirchner Private Equity Group, focused on acquiring, managing and investing in underperforming private equity assets, portfolios and funds.
Crestline’s new business line will be led by WB (Bud) Kirchner, founder of the Kirchner Group and architect of its "Successor GP" Program.
This business complements Crestline’s position in hedge fund secondary investing and allows the firm to provide a full-service solution to institutions with underperforming
Accel Partners, a Silicon Valley venture capital firm focusing on early stage and growth equity investments, has appointed Rob Solomon as venture partner.
Most recently, Solomon (pictured) served as president and chief operating officer for Groupon responsible for sales, marketing, business development, operations and international as the company experienced rapid growth going from 100 employees to 6,000.
As venture partner, Solomon will be evaluating early stage and growth equity opportunities with Accel. He will also play a major role in advising the firm’s portfolio companies on a wide range of strategic and operational issues like product management, scaling
DN Capital portfolio company Shazam, a media engagement company, has appointed Rich Riley as chief executive officer.
Andrew Fisher, who has led Shazam as CEO since 2005, has been appointed to the newly created full-time position of executive chairman.
John Pearson, who has been chairman of the board since 2006, will become a non-executive director and remain on the board.
“I am extraordinarily excited to be joining the Shazam team. Andrew Fisher has assembled a worldclass organisation that has made Shazam a global consumer brand that provides an exceptional consumer experience and has set the stage for
Rentokil Initial has sold the entire share capital of City Link to BECAP12 Fund (Better Capital), a private equity investor, for GBP1. There are no outstanding conditions required, so completion is effective immediately.
The current City Link management team, led by David Smith, will continue to run the business. Better Capital will invest GBP40m in the business to provide more than sufficient funding required by City Link to complete its turn-around plan.
City Link reduced adjusted operating losses from GBP31m in 2011 to GBP26m in 2012. First Quarter 2013 performance continued to show an improved trading performance delivering an adjusted operating
FF&P Private Equity, the private equity business of Fleming Family & Partners, has backed the buy-in management buy-out of specialist energy efficiency business FIT.
The acquirer, Efficient Energy Management Group, majority owned by FF&P Private Equity, intends to capitalise on the demand for energy efficient commercial kitchens, as energy costs have more than doubled over the last 10 years.
Since 2001, FIT has designed and installed energy saving solutions for a large number of blue-chip customers, including major supermarket, hotel and leisure operators in the UK and Europe. FIT’s solutions offer payback periods, with the savings being monitored and
Symphony International Holdings’ net asset value has increased by 13.4 per cent from USD609.8m at 31 December 2012 to USD691.7m at 31 March 2013.
NAV per share increased from USD1.18 to USD1.34 during the same period.
The increase in NAV during Q1 2013 was predominantly driven by fair value gains of investments, particularly in the hospitality and healthcare sectors.
Symphony’s share price strengthened by 20.0 per cent during Q1 2013 from USD0.68 to USD0.81 and the discount to NAV narrowed by 3.3 per cent during the same period to 39.7 per cent at 31 March 2013.
European venture capital fundraising in Q1 2013 declined from the levels seen in Q4 2012 and Q1 2012 in both the number of funds closed and capital raised, according to the Dow Jones VentureSource quarterly report.
Venture capital investment into European companies experienced a quarter-over-quarter increase.
Just one venture-backed initial public offering (IPO) was completed during the quarter, the lowest figure since 1Q 2010.
Merger and acquisition (M&A) deal activity also fell from the previous quarter.
KPS Capital Partners has promoted Bruce Curley to partner – operations group.
Curley leads the KPS operations group, a growing team of ten professionals with significant manufacturing and operations experience.
The KPS operations group works with the KPS portfolio companies to create a culture of continuous improvement and to make their businesses better.
Curley has been affiliated with KPS since 2000, first as chief executive officer of a former KPS portfolio company, and then beginning in 2005 as managing director and head of the KPS operations group.
Prior to his involvement with KPS, Curley held management
Jeremy Hester has been named as head of sales for Northern Trust’s global fund services business in the UK, responsible for offering investment operations outsourcing, fund administration and the full range of asset servicing solutions, to investment managers domiciled in the UK.
Hester joined Northern Trust in 1994 and was most recently head of sales for Northern Trust in Australia and New Zealand, where he was instrumental in growing the bank’s client base in the region.
His previous role in Northern Trust’s Melbourne office has been assumed by Angelo Calvitto who is also responsible for client relationship management
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