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Maples Fiduciary Services has expanded its investment funds team in the Cayman Islands with the addition of Abali Hoilett as senior vice president and fund director.
Hoilett has extensive experience in providing director and trustee services to a wide array of investment fund structures and strategies.
In his new position, Hoilett will serve as an independent director on a limited number of hedge funds and private equity funds.
The investment funds team comprises 25 professional directors resident in the Cayman Islands, Delaware, Dublin, Dubai and Luxembourg, serving a broad range of investment fund structures.
“We are delighted to have Abali
The majority of fund managers (75 per cent) think the current environment is either “somewhat” or “very favourable” for private equity funds looking to invest, according to the fourth annual PErspective Private Equity Study by BDO USA.
However, fund managers are not expecting a sudden boom in deal volume anytime soon. Fifty seven per cent of fund managers – regardless of fund size – expect to close between two and four new deals during the next 12 months, which is only a small increase from the 47 per cent of fund managers who closed between two and four new deals
Andrew Caspersen has joined as a managing principal of Park Hill, a division of Blackstone, with a focus on its secondary advisory business.
The business delivers liquidity and capital solutions to private equity investors and managers.
Caspersen was most recently a principal at Coller Capital, where he sourced, evaluated and closed secondary transactions in the US market.
Larry Thuet, a senior managing director at Park Hill, says: “We are delighted that Andrew is joining us. As private equity matures as an asset class, there is a growing need for both investors in, and managers of, older vintage private equity funds
Hedge and private equity fund manager FSI Group has joined the AlphaMetrix TransparentFund platform. FSI Group will retain its existing service providers and enhance its already robust infrastructure by offering investors risk monitoring, reporting, customised transparency and a thorough background investigation via AlphaMetrix.
“FSI Group is an excellent addition to AlphaMetrix,” says Mikus Kins, chief product and business development officer at AlphaMetrix. “As a result of listing with AlphaMetrix, FSI will be able to provide investors with greater transparency that is independently verified and reconciled.”
Inaki Echave will join Blackstone’s private equity group as a managing director, with primary responsibility for Spain and Portugal.
Echave (pictured) was most recently a partner with Magnum Capital, the largest independent buy-out fund on the Iberian Peninsula.
He will work alongside Claudio Boada, Blackstone’s chairman for Iberia.
Lionel Assant, a senior managing director at Blackstone and head of its European private equity business, says: “We are delighted that someone of Inaki’s talent and experience is coming to Blackstone. There is a great need in the region to deploy our long-term patient capital to grow companies and create jobs and
Warburg Pincus has agreed to sell 2,500,000 shares of Primerica’s common stock in an underwritten public offering.
Closing of the offering is expected to occur on 15 February 2013, subject to customary closing conditions.
Immediately following completion of the offering, Warburg Pincus will beneficially own approximately 4.4 per cent of Primerica’s outstanding common stock (or approximately 10.9 per cent of Primerica’s outstanding common stock, including shares issuable pursuant to warrants).
All of the shares are being sold by Warburg Pincus, and Warburg Pincus will receive all of the net proceeds from the offering. Citigroup is acting as book-running manager for
Deutsche Bank’s asset and wealth management division’s DB Private Equity & Private Markets has raised USD614m for the DB Secondary Opportunities Fund II (DB SOF II), exceeding its USD500m target.
DB SOF II is dedicated to acquiring a diversified set of private equity fund interests in the secondary market globally.
The close of DB SOF II included new and existing investors, such as insurance companies, public and corporate pension plans and family offices across the Americas, EMEA and Asia Pacific.
Carlo Pirzio-Biroli (pictured), co-head of DB Private Equity & Private Markets and Secondary Funds, says: “This successful capital raise demonstrates
Huron Capital Partners has invested in Six Month Smiles.
Founded in 2006 by Dr Ryan Swain, Six Month Smiles is an economical approach to adult cosmetic orthodontics used by thousands of general dentists in the US, Canada, the UK, and Ireland.
Huron, in partnership with independent sponsor equity group Exium Partners, made the investment with a plan to continue growing the business through geographic expansion and new product offerings.
The Six Month Smiles transaction builds on Huron’s prior experience and success investing in the business services market and is the culmination of an active effort to identify investments specifically in
Manchester-based Palatine Private Equity has backed the management buyout of the amusement and gaming division of Midlands-based Inspired Gaming, in a deal introduced by Clearwater Corporate Finance.
The deal is the second investment from Palatine’s Fund II. As part of the deal, the amusement and gaming division of Burton-upon-Trent-based Inspired Gaming, which has operations in Warrington, London and Burton, will be renamed Playnation.
Playnation is a supplier of amusement and gaming machines and supplies holiday parks, motorway services, bowling centres and airports, including Butlins, Haven, Parkdean, Park Resorts, Moto, Roadchef, Welcome Break, Tenpin and First Bowl. Turnover is expected
First Reserve is celebrating its 30th year in global energy investing, making it the oldest and largest global private equity firm exclusively focused on energy.
Having begun their careers in energy investing in the early 1970s, William "Bill" Macaulay (pictured) and John Hill co-founded First Reserve in 1983 with the takeover of several distressed private energy funds.
Since that time, the firm has raised more than USD23bn of aggregate capital since inception and now maintains the largest energy-focused private equity investment team in the industry. Its 41 active portfolio companies in the Buyout Funds and Infrastructure Fund trade on five
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