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Blackstone is to acquire Strategic Partners, Credit Suisse’s dedicated secondary private equity business with USD9bn in assets under management.
The transaction is subject to customary closing conditions and is expected to close by the end of the third quarter 2013. The terms of the deal have not been disclosed.
Tony James (pictured), president and chief operating officer of Blackstone, says: “We are thrilled that the people of Strategic Partners are joining Blackstone. Many of us here at Blackstone were once colleagues of the Strategic Partners team, and this gives us high confidence that it will be a seamless
Cross-border M&A remains high on the agenda for companies around the world according to a survey of 350 senior executives across high-growth and developed markets.
Nearly half of those surveyed, including more than 275 M&A strategists based in high growth or emerging markets, expect their company’s appetite for cross-border M&A to increase over the next two years. Companies from developing markets are also becoming increasingly adventurous in their M&A strategies.
The report, Opportunities Across High-Growth Markets: Trends in Cross-Border M&A, is based on a survey conducted by the Economist Intelligence Unit (EIU) on behalf of Baker & McKenzie.
Aquiline Capital Partners, a New York-based private equity firm investing in financial services, has completed the acquisition of Equity Insurance Group, a motor insurer based in the UK.
It was purchased from Insurance Australia Group (IAG). Equity Insurance Group includes motor insurer Equity Red Star and Equity Syndicate Management Ltd (ESML), with its associated Syndicate 218 at Lloyd’s, as well as the broking business Equity Direct Broking.
The largest motor insurance syndicate at Lloyd’s, Equity Insurance Group is one of the ten largest motor insurers in the UK and has been insuring commercial and individual customers for more
Bowmark Capital, the mid-market private equity firm, is backing the GBP30m management buy-out and expansion financing of Drake & Morgan, a London-based bar-restaurant group.
Drake & Morgan was founded in 2008 by the Imbiba Partnership, the specialist bar and restaurant investment partnership, and managing director Jillian MacLean, a leisure entrepreneur who has over 20 years’ experience in the hospitality industry.
The vision was to create an innovative new chain of bar-restaurants in London that combined a stylish, accessible and “female-friendly” environment with a unique all-day food and drink offering.
Since opening its first site, The Refinery, in
Altus Capital Partners, a private equity investment firm focused on niche middle market manufacturing companies in the US, has hired three professional staff members.
Russell J Greenberg, co-founder and managing partner, says: “We will continue to invest in resources as we move ahead in investing Altus Capital Partners II and managing our portfolio. These three additions to our staff, at both our Connecticut and Illinois offices, bring additional depth to our investment and support teams.”
The new hires are:
Senior associate Scott Johnson joined Altus Capital this month. He has over five years of combined private equity and M&A experience,
Apex Fund Services has appointed Elliott Brown to the newly created position of managing director – Americas.
Brown will have responsibility for overseeing the growth of all of Apex’s offices in North and South America.
Brown was formerly with JP Morgan for 18 years, most recently as the managing director responsible for leading the bank’s global hedge fund administration business. Prior to that role, Brown was in strategy and business development and was instrumental in the formation of the hedge fund and private equity fund administration businesses at JPMorgan. Brown also worked for JPMorgan in Australia in relationship management and operations.
Leeds-based Help-Link, the only central heating specialist apart from British Gas to work throughout the whole of the UK, has completed a deal with NorthEdge Capital, a private equity firm.
The business, which started 15 years ago as four men in vans, has built its growth on making it simpler and more affordable for households on a budget to acquire a new boiler. Over the past year the firm has fitted 25,000 new boilers and this will rise to 40,000 over the next 12 months using 300 teams of engineers.
The deal will enable the firm to increase
JTC Group, a provider of private wealth, corporate, employee benefit and fund administration services, has acquired Ardel Fund Services Limited (AFSL), a Guernsey-based third party fund administration provider.
The move significantly boosts JTC’s numbers in this jurisdiction adding specialist fund expertise both locally and for the group.
AFSL, formerly Bachmann Fund Administration, was established in Guernsey in 1993. The team administers investment funds across a variety of asset classes, using a wide range of fund structures: both open and closed-ended companies, unit trusts and limited partnerships, including entities listed on the London Stock Exchange’s Main Market and Alternative Investment
The Carlyle Group has made a significant investment in Addison Lee, a well-known brand in the transportation and private hire services in London and the South East of England.
Capital for this investment will come from Carlyle Europe Partners III, a EUR5.4bn fund that makes mid and large cap investments. Terms of the transaction have not been disclosed.
Founded in 1975 with one car, Addison Lee has grown to a fleet of over 4,500 vehicles. Today, Addison Lee has a significant, established footprint in private hire services across London carrying over 10 million passengers and couriering one million deliveries
Heritage Administration Services Limited (HASL) has acted for Greencoat UK Wind on its recent IPO and launch.
Greencoat is incorporated in England and Wales and structured as a closed-ended infrastructure investment company with an indefinite life and HASL has been appointed as the company’s administrator and company secretary.
Greencoat was admitted to the premium listing segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange’s main market for listed securities on 27 March 2013.
Following strong demand during the book-building process, Greencoat UK Wind placed 260 million shares at
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