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KPMG has expanded its alternative investment funds (AIF) practice by adding two federal tax managing directors to its Los Angeles and New York offices.
"KPMG is continuing to invest in and expand its Alternative Investments team to serve its private equity, hedge funds and real estate funds clients," says Chuck Walker, national partner in charge, alternative investment funds – tax. "We are thrilled to announce the latest managing directors to join us as we continue to strengthen our team with some of the best talent out there."
Nancy Chan, managing director, federal tax, Los Angeles, has more than 25 years
More than three per cent of AIM-quoted group China Private Equity Investments (CPE) is now held by the Hong Kong-based asset management firm Adamas Asset Management (formerly Gen2 Capital Partners) following recent share purchases on the open market.
The increased shareholding, to 3.08 per cent, is in line with the objective of creating a long-term strategic partnership between the two groups, first announced last November.
Adamas, which had assets under management of approximately USD500m at end 2012, said in the November announcement it aims in due course to become a significant shareholder in CPE.
Link•age Ventures has closed its investment in the Alliance Healthcare Investment Fund.
Link•age is a private equity firm focused on investing in companies that provide products, services and technology to the aging marketplace and is based in Mason, Ohio.
The transaction, which was agreed to in December of 2012, enables Link•age to participate in investment opportunities presenting themselves in the broader healthcare market.
The fund will be managed by Alliance Healthcare Partners Management. The manager is comprised of three healthcare entrepreneurs, Joseph Mayernik, Tim Einwechter and Ricardo Ferreira.
The fund will invest in early-stage and growth-stage companies in the industry.
Oakfield Capital Partners (OCP), a private equity firm specialising in investing in small and mid-sized British businesses (SMEs), is to launch a new GBP20m fund which will allow its investors to qualify for tax relief under the government-backed Enterprise Investment Scheme (EIS).
OCP’s UK Special Situations Fund will invest in six to eight SME businesses which need both finance and management support to realise their full potential.
The new businesses will join OCP’s existing stable of five companies in which it has invested since the firm was founded in 2008.
OCP partner David Pitman (pictured) says: “In the current
Digital Development Management (DDM), a business and talent agency for video games and digital entertainment, has acquired Netherlands-based Green Hill’s business development division to expand its presence in the European market.
Green Hill Studios, a production management company, will remain separate.
Maarten de Koning, managing director of Green Hill, joins DDM as business development director, Europe. With a background in investment management and game development, de Koning has held production roles at various studios and founded Green Hill on the principles of providing business development, effective product management and consultation to video game developers.
Since its inception in 2010, Green
RLJ Equity Partners has promoted Jerry L Johnson to managing director.
He will continue to work from the firm’s Bethesda-based office and report to Rufus H Rivers, managing partner.
Founded by Robert L Johnson, founder and chairman of The RLJ Companies, together with The Carlyle Group, RLJ Equity Partners invests in middle-market leveraged buy-outs, recapitalisations, and growth equity.
"Jerry brings a wealth of talent and experience to our team, and I am pleased to announce his promotion to Managing Director of RLJ Equity Partners," says Rivers. "He has consistently shown exceptional leadership in deal origination, investment acumen, portfolio management
University of Bradford spinout Acoustic Sensing Technology (UK) has secured a GBP650,000 equity investment from The North West Fund for Energy & Environmental, which is managed by CT Investment Partners.
The start-up company has developed a new product named SewerBatt, which is a low cost acoustic technology product that assesses the condition of sewer pipes. This product was developed by a research team at the University of Bradford, led by Professor Kirill Horoshenkov and Professor Simon Tait.
Acoustic Sensing Technology will use the investment to create and manufacture the SewerBatt and sell it to water companies and contractors in developed
The Indiana Public Retirement System (INPRS) has selected alternative asset manager The Carlyle Group and AlpInvest Partners to manage a new USD150m fund, Indiana Investment Fund II (IIF-II).
The fund will invest in a diversified, high-quality portfolio of Indiana-based direct investments, co-investments and fund commitments.
Carlyle and AlpInvest have opened an office in Indianapolis to serve as base of operations for the new partnership with INPRS.
David M Rubenstein (pictured), co-chief executive of The Carlyle Group, says: "We are grateful to receive this important investment mandate and excited to expand the relationships that we’ve fostered for the past ten years
Investcorp has completed the sale of IPH Group, a distributor of industrial supplies in Europe, to PAI Partners, a Paris-based European private equity firm.
The deal generated in excess of EUR210m of realisation proceeds for Investcorp and its clients.
During the period of ownership by Investcorp, IPH Group tripled its sales from EUR293m to EUR860m and grew EBITDA from EUR12m to over EUR62m in 2012.
Maud Brown, principal in Investcorp’s corporate investment team, says: "IPH Group is an excellent example of how we can add value in our portfolio companies and transform a business from being a domestic champion to
HIG Capital has closed HIG Capital Partners V at its USD1bn cap.
The fund will continue the strategy of HIG Capital’s four predecessor funds, focusing on private equity, buyout and equity-related investments in lower middle-market companies primarily in the US.
Sami Mnaymneh and Tony Tamer, co-founders and managing partners of HIG Capital, say: “We are very happy with how quickly we were able to raise HIG’s fifth buyout fund and, in particular, that the fund was significantly over-subscribed from existing HIG investors.”
Doug Berman, executive managing director of HIG Capital, says: “The new fund will allow us to continue our
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