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Spring Mountain Capital has organised and closed a USD9.2m Series A private equity financing facility for the Hurel Corporation, a provider of advanced artificial tissue constructs and microfluidic cell-based assay platforms.
Funds from the financing will support the commercial launch of Hurel’s current products, the continued research and development of its technologies and future products, and other general corporate purposes.
Spring Mountain, operating through its SMC Select Co-Investment Fund I, is the lead investor. Spring Mountain also organised co-investment participations by several other private investor entities.
"This investment reflects our belief in Hurel’s management, its scientific leadership,
The Regulatory Fundamentals Group (RFG), a New York-based firm that provides business and regulatory insights for alternative funds, institutional investors and their advisers, has released FATCA Watch, a customised "issue spotting" tool to help advisers and fund managers quickly determine their exposure to the Foreign Account Tax Compliance Act.
Implemented as a way to reduce tax evasion that may occur when income generated in the US is transferred outside the country, FATCA imposes new due diligence, reporting and withholding requirements that will ultimately impact a broad range of companies and individuals both in the US and abroad.
FATCA,
glendonTodd Capital, a Dallas-based private equity firm, has closed its previously announced merger of Aztec Systems and Toutatis Client Services do Brasil, including foreign affiliated operating entities.
Both Aztec and Toutatis are glendonTodd portfolio companies.
This merger creates a multinational business process and information technology outsourcing firm with more than 1,000 clients in 13 countries and territories throughout the Americas. Terms of the transaction were not disclosed.
The new combined company, Toutatis Aztec Solutions (TAS), is based in Dallas and offers services including human resources outsourcing, finance and accounting outsourcing, procurement outsourcing, information technology outsourcing, and data
Private equity firm Arsenal Capital Partners has completed fundraising for Arsenal Capital Fund III with USD875m of committed capital, exceeding its target of USD750m.
The firm’s previous fund, Arsenal Capital Partners II, was raised in 2006 with USD500m of committed capital. Arsenal now has over USD1.6bn of committed capital under management.
Terrence Mullen (pictured), co-founder and partner at Arsenal, says: "We are delighted to have surpassed our expectations for Fund III and achieved a 75 per cent increase in committed capital from our last fund. We sincerely thank all our investors for their tremendous support. We are
CapVest Equity Partners II and Lantmännen ek have created the leading Nordic poultry producer through the simultaneous acquisition of Kronfågel Group in Sweden and Denmark from Lantmännen, and Cardinal Foods in Norway from CapMan.
The new company will have a turnover of more than SEK5bn, while the ownership structure positions the business for further development in international markets, as well as opportunities for product development and innovation.
The new company will consist of Kronfågel, SweHatch and Skånefågel in Sweden, Danpo in Denmark and Cardinal Foods in Norway. It will be led by a team of executives drawn from both
Anchorage Capital Partners, the Sydney based private equity firm focusing on special situations and turnaround investment in the Australian, New Zealand and Southeast Asian markets, has held the first and final closing of Anchorage Capital Partners II at AUD250m.
Significant interest from both existing and new investors meant that the fund was oversubscribed and capped at AUD250m.
Anchorage maintained the strong local market support evidenced in prior fundraising efforts, with over 50 per cent of fund commitments sourced from Australian institutions. Offshore limited partners, comprising a select group of institutional investors from Asia, Europe and the US, provided the
Private Credit Strategies have recently attracted the attention of the LPs’ and more broadly the investor community. The main reason is performance: investors are looking at ways to enhance their returns on traditional credit and fixed income portfolios which have displayed meagre returns over the last couple of years due to a very low interest rate environment in most of the Western World, says Elvire Perrin (pictured), Partner at Altius Associates…
The market dislocation created by the increasing regulatory pressure on banks has created a space for non-traditional debt providers as well as opportunities on the distressed credit sales. Indeed,
Investment Management Group (IMG), a Moscow-based private equity real estate fund manager, has concluded bank financing for its two investee retail projects for the total amount of USD246.7m.
A long-term financing agreement for USD218m has been signed with the Russian Sberbank to finance the construction of Zelenopark project, a retail centre of approximately 100,000 square meters GLA, developed in partnership with PGP Development in Zelenograd, Moscow region.
The project’s size, favourable location next to the existing and new Moscow-St. Petersburg highways, and tenant composition will make it a destination for shoppers.
IMG invested in the project through
Private equity firm North Castle Partners has completed the sale of Caleel + Hayden Holdings, dba gloProfessional.
The terms of the transaction have not been disclosed.
gloProfessional is a developer and marketer of mineral-based cosmetics under the glominerals brand and premium skin care under the glotherapeutics brand. glo serves over 5,000 dermatologists, cosmetic surgeons, aestheticians, spas and salons both domestically and internationally, as well as select specialty retailers. In addition, the company recently launched to the same customer base a line of hair care products under the gloessentials brand name.
gloProfessional reaches its customers through a proprietary
Vulcan Capital, the Seattle-based investment management firm that oversees philanthropist Paul G Allen’s multi-billion dollar portfolio, has named Abhishek Agrawal as managing director and head of its new Palo Alto office.
Agrawal (pictured) will direct Vulcan’s presence in Silicon Valley and focus on expanding the firm’s investments in the internet and technology sectors.
Agrawal joins Vulcan Capital from General Atlantic, a global growth equity firm with USD17bn in capital under management, where he has worked since 2005. He has been closely involved in General Atlantic’s investments in the internet and technology sector, including AKQA, Alibaba Group, Bazaarvoice, Dice
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