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LGT Capital Partners has held the final close of Crown Global Secondaries III (CGS III), its third global private equity secondary fund, with total subscriptions of USD2.0 billion.
The program’s investor base consists of more than 80 institutions and includes sovereign wealth funds, government pension funds, corporate pension funds, insurance companies, endowments and foundations. 50% of the investors are based in continental Europe, 19% in the Asia-Pacific region, 14% in North America, 12% in the UK and 5% in the Middle East.
Tycho Sneyers (pictured), Managing Partner at LGT Capital Partners, says: “Given the differentiated strategy of the predecessor fund,
NBGI Private Equity, investor in Aberdeen-based ATR Group, has acquired the Aberdeen and Norway operations of Cosalt Offshore.
This will bring together Cosalt’s technical leadership in offshore lifting, combined with its offshore inspection, testing and safety service with ATR’s global equipment rental service offering to the offshore maintenance sector.
The deal will stabilise the Cosalt business, which has been through a difficult period in recent years, safeguard jobs and provide funding to capitalise on international growth opportunities.
ATR chief executive Keith Moorhouse will lead the enlarged group. “This deal will be welcomed by Cosalt’s staff, customers and suppliers as an
The Australian Private Equity and Venture Capital Association (AVCAL) has welcomed the Australian government’s innovation statement, which it says is the result of a thorough collaborative engagement process with industry and focuses on developing the jobs of the future for Australia.
“We are particularly pleased to see the recognition of the importance of the venture capital industry to enable Australia’s innovations turn into products, processes and services that add to the economy and provide jobs in the future,” says AVCAL in a media statement.
AVCAL believes that the new round of the Innovation Investment Fund (IIF) with AUD350m committed will
The Investcorp Gulf Opportunity Fund is to acquire a controlling stake in Hydrasun, an international provider of fluid control equipment and solutions for the global offshore oil and gas sector, from Equistone Partners Europe.
The value of the transaction has not been disclosed.
Founded in 1976 in Aberdeen, Scotland, Hydrasun has international operational bases in the UK, Middle East, the Netherlands, Caspian Sea, Brazil, West Africa and the Gulf Coast of the US.
Hydrasun is specifically engaged in the integration, manufacture and testing of hydraulic equipment and fluid connectors for the offshore oil and gas sector. Its products
Accel-KKR, a technology-focused private equity investment firm, is to acquire Sage Nonprofit Solutions, a provider of accounting, donor and fundraising management, and grant management software solutions to non-profit organisations, from The Sage Group.
Accel-KKR also announced that it is making a minority investment in Swiftpage, a digital marketing platform provider for the small business market, to help fund Swiftpage’s acquisition of Sage’s ACT! contact management and Sage SalesLogix customer relationship management (CRM) businesses.
In the first transaction, Accel-KKR will acquire 100 per cent of Austin, Texas-based Sage Nonprofit Solutions, which helps more than 32,000 not-for-profit organisations, including government entities, universities,
Law firm K&L Gates has expanded its Boston office with the additions of two new partners, Mark L Johnson and Paulo J Marnoto, and eight new associates.
Johnson (pictured) joins the firm’s corporate securities and finance practice from Cooley, while Marnoto joins the firm’s private equity and fund formation practice from Ropes & Gray.
With a practice that has focused on corporate, securities, and capital markets matters for nearly 30 years, Johnson advises issuers, investment banks, and investors in public offerings and other financings by US and international issuers in an array of industries, particularly in the technology and life
Blue Sage Capital, an Austin, Texas-based private investment firm, has closed its oversubscribed second fund with commitments totalling USD150m, 50 per cent above target, with the help of Navatar Private Equity CRM.
Blue Sage Capital specialises in growth, recapitalisation and buyout financings of smaller middle market companies based in Texas and the Southwest.
Their investors include a diverse group of limited partners such as large financial institutions, private equity fund of funds, prominent family offices, endowed trusts and government entities.
The Blue Sage fundraising team was assisted by Navatar Private Equity CRM which also helps Blue Sage manage deal flow,
International investment bank Altium has opened an office in Frankfurt, Germany.
The new office is Altium’s ninth in Europe and it will expand the firm’s debt advisory and financial restructuring practice overseas.
The opening of the Frankfurt office comes shortly after Altium agreed exclusive partnerships with independent US advisory firm Petsky Prunier and Indian international investment bank Allegro last month.
Altium enjoyed a successful 2012, advising on deals worth GBP4.8bn, a 31 per cent increase on 2011.
The firm completed 41 deals in 2012, including 13 led by its UK team in Manchester, London and Leeds, and
KKR has acquired three solar photovoltaic (PV) energy projects, SSM Solar, from an affiliate of Starwood Energy Group.
Terms of the transaction have not been disclosed.
Located in Sault Ste Marie, Ontario, SSM Solar has a total capacity of 69MWdc and 60MWac, representing one of the largest PV facilities in North America and the second largest in Canada. SSM Solar is fully contracted to sell its energy output to the Ontario Power Authority (OPA) under 20-year power purchase agreements entered under the authority’s Renewable Energy Standard Offer Program (RESOP). SSM Solar powers approximately 7,000 households.
“Ontario has been at the
The UK’s Enterprise Investment Scheme (EIS) is one of the most successful and widely respected venture capital relief schemes in Europe, according to David Gauke MP, Exchequer Secretary to the Treasury.
Gauke was a keynote speaker at the EIS Association’s Chairman’s Annual Reception at the House of Lords on Wednesday night. He spoke on the importance of EIS investment as a tool for economic recovery and how, since the mid 1990’s, EIS and VCT schemes have raised over GBP13.3bn investment for 20,000 companies.
Gauke went on to explain how the UK EIS scheme is the envy of Europe and how
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