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Second Alpha Partners, a private equity firm focused on secondary investments, has formed Second Alpha Partners I to manage the portfolio assets of venture capital firm Dolphin Equity Partners.
In 2012, the former limited partners of the Dolphin Equity funds sold a substantial portion of their interests to an investor syndicate that has turned to Second Alpha to manage these interests as general partner.
As a result, Second Alpha Partners now actively manages a portfolio of mature venture capital and growth equity companies that include TouchCommerce, Sportvision and AVST.
"We were very pleased to complete the transaction
Keith Wade, Chief Economist at Schroders, looks beyond the near term cyclical challenges and considers what the Eurozone needs to do to ensure its long term viability…
Divergence rather than convergence
• One of the fault lines to address was predicted before the single currency even started and is the divergence in economic activity which results from a one-size-fits-all monetary policy.
• Such a pattern soon became apparent in the Eurozone with low inflation Germany and the core countries enjoying increasing trade gains as the periphery sank into deficit. There was some convergence of income per head across the region,
Merger and acquisition (M&A) activity among small and medium-sized enterprises (SMEs) in the UK fell by 18 per cent to 580 deals from 2011 to 2012, new research from S&P Capital IQ reveals.
While none of Europe’s three major economies – the UK, France and Germany – have seen M&A transaction levels return to their 2008 high, the effects of the labouring UK economy can be seen in recent transaction data.
Over the last five years, the number of SME M&A transactions in the UK (3,264) has been roughly equal to the number in France (3,139) and more
The management team of Euro Cater, a Nordic Foodservice wholesaler, and Intermediate Capital Group (ICG), the specialist asset manager, have formed a partnership to acquire the business from Euro ManaCo (the current investment vehicle of Euro Cater management), Altor and inco Amba.
The transaction marks the conclusion of a partnership between Euro Cater and Altor that commenced in 2006.
Euro Cater was established in 2006 as a partnership between Altor and key employees of the company and has since developed into a wide reaching foodservice supply business, organically and through acquisitions. In 2007 Euro Cater entered Sweden by
The US restaurant industry is beginning to sizzle, according to the 23rd edition of the Chain Restaurant Industry Review, which was released at the Restaurant Leadership Conference by GE Capital, Franchise Finance (GEFF).
Merger and acquisition activity increased to USD3.9bn from USD3.7bn, and the total volume of syndicated leveraged loans in the restaurant space increased almost 21 per cent last year.
In a sign that the American consumer was feeling more confident about disposable income levels, nominal restaurant sales rose 4.2 per cent to USD425.6bn in 2012. Sales are projected to increase 3.8 per cent to USD441.9bn this
Funds lawyer Stephen Ross is to join Sidley Austin as a partner and will co-head the firm’s London investment funds group, part of the firm’s global investment funds practice.
Ross (pictured) will join Sidley from his position as group general counsel of London-based Man Group, the world’s second largest hedge fund manager. Before arriving at Man in 2004, Ross was co-head of the private funds group of a Magic Circle law firm.
“Stephen is well-known and respected in asset management circles, and will be a great addition to our existing team of funds lawyers,” says Bruce Gardner, co-head
Annapolis Capital has appointed Malcolm Adams as senior vice president, technical with effect from August 2013.
Adams brings with him a wealth of experience in the Canadian oil and gas sector, including asset evaluation, deal origination and deal structuring.
Adams is a professional engineer and an ICD.D certified director with 19 years of experience in the oil and gas industry, including more than eight years in Canadian private equity.
Adams most recently held the position of vice president, corporate development at Surge Energy, where he was responsible for a team that identified, evaluated and successfully completed acquisition
A consortium comprising The Carlyle Group, Stone Point Capital and Pictet & Cie – on behalf of certain of its clients – and funds managed by Edmond de Rothschild Group, has completed its acquisition of Duff & Phelps in all-cash transaction valued at approximately USD665.5m.
The transaction was approved by the company’s stockholders at a special meeting of stockholders held 22 April 2013.
Pursuant to the terms of the merger agreement, the company’s Class A stockholders are entitled to receive USD15.55 per share of Class A common stock in cash without interest. As a result of the merger,
AXA Private Equity’s Kallista platform, an independent French producer of wind energy, is to acquire two wind farms from a company of the London-based Group HgCapital.
This acquisition, which is subject to certain conditions precedent, adds a production capacity of 23MW, bringing Kallista’s total capacity to 321 MW, making it the third biggest producer of wind energy in France.
The Enercon facilities in Bougainville and Saint-André, both located in Picardie (France), close to existing Kallista farms, will enable the company to diversify its technological mix with the introduction of a new turbine supplier. Kallista is active in both
A total of USD69.3bn was raised globally in Q1 2013 by 130 private equity funds across all strategies, according to Private Equity International (PEI).
The figure is roughly in line with fundraising totals for 2012 – on average USD73.7bn was raised in each quarter in the year – but represents a significant surplus on fund targets, with firms having aimed for an aggregate of USD59.9bn.
“The totals being raised are still no way near peaks of the pre-crisis period but closed funds are evidence of consistent returning confidence,” says Dan Gunner, director of research and analytics, PEI. “What’s most striking about
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