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Venture capital and growth equity firm Crosslink Capital has appointed David Courtney as general partner and chief operating officer.
His responsibilities include direct oversight of operations, finance, compliance and human resources.
He reports to Michael Stark, founder and general partner of Crosslink Capital, and is based in the firm’s San Francisco headquarters.
“The chief operating officer is an important component of our leadership team at Crosslink,” says Stark. “We have known David for many years. He has exceptional operational and leadership skills, as well as a strong background in compliance that will further strengthen the team we have in place
Oakley Capital Private Equity has sold Emesa Group, an online consumer auction platform in the European leisure industry, to Cyrte Investments for a gross consideration of EUR95m.
Oakley Capital Private Equity originally acquired Emesa Group in March 2011 for consideration of EUR35m.
The transaction represents a 3.6x gross return for the fund in less than two years of ownership, with an IRR in excess of 100 per cent.
Peter Dubens, director at Oakley Capital Private Equity, says: “Emesa has been another successful investment for the limited partnership. This is a significant disposal for the fund and delivers an attractive
A resurgence of investor confidence in public markets in the closing months of 2012 has left private equity funds facing an increasingly competitive environment for deals, according to research released by BDO’s corporate finance team.
With private equity already facing a dearth of quality deals, public company valuations have risen to their highest levels since Q2 2011, meaning that vendors now have a wider choice of where they sell their business.
BDO’s research shows a clear convergence as private equity valuations fell 18.6 per cent while public market valuations rose. The average price/earnings multiple paid in private equity transactions
Two of Kirtland Capital Partners’ portfolio companies have completed strategic add-on acquisitions.
Precision Dialogue, based in Chicago, acquired Hub Marketing Solutions, while SmartSource Computer & Audio Visual Rentals, headquartered in Long Island, NY, acquired CRE Computer Rentals & AV Solutions.
Precision Dialogue is an analytics-driven customer engagement firm that improves marketing ROI using customer insights to execute personalised, relevant multi-channel communications.
Hub is a provider of marketing data management and business intelligence solutions designed to enable dialogue-based customer management strategies. The Hub acquisition will add scope and scale to Precision Dialogue’s customer engagement solutions.
Precision Dialogue engaged Jones Day and
The Japanese Yen has fallen sharply while the Euro is at its highest level against the US dollar since 2011. Keith Wade, Chief Economist and Clive Dennis, Head of Currencies at Schroders, share their views on the latest outbreak of currency wars and the impact this is having on the market…
Keith Wade, Chief Economist at Schroders – “The main central banks are heading for around USD1.7 trillion of asset purchases in 2013. The US is now directly targeting unemployment and the BoJ is committed to ending deflation. Both targets are ambitious and will require considerable purchases. Importantly for investors,
Fulcrum Equity Partners, an Atlanta-based growth equity firm, has closed its second fund, Fulcrum Growth Fund II (FGF II), with capital commitments in excess of USD93m, surpassing its target of USD75m.
One of Fulcrum’s key strategies is to recruit successful entrepreneurs to the investor group, and FGF II now has more than 90 current and former chief executives from a wide range of industries.
"The deep business experience of our investors is a very rich resource for the Fulcrum Funds and our portfolio companies," says Jeff Muir, a partner at Fulcrum. "Many LPs have provided value-added support and guidance, including
Blackstone has reported record full year, revenue, assets under management and public company earnings.
Stephen A Schwarzman (pictured), chairman and chief executive officer, says: “The fourth quarter of 2012 capped a year of record financial performance for Blackstone, with full-year revenues of over USD4bn and economic net income of USD2bn, our best results since becoming a public company over five-and-a-half years ago.
“We’ve generated consistently strong investment performance for our limited partner investors across market cycles since our inception 28 years ago, and 2012 was no exception, with all of our businesses beating their respective benchmarks. Our favourable performance continues
US retail and consumer merger and acquisition (M&A) activity in 2012 was primarily driven by corporations spinning off businesses, private equity investment in retail, increased cross border activity and expansion into e-commerce, according to PwC’s US retail and consumer M&A insights 2012 Year in Review and 2013 Outlook report.
The report finds that strong retail and consumer deal activity in 2012 drove both deal volume and value up from the prior year as the number of larger deals over USD1bn almost doubled.
Private equity activity in the retail sector comprised nearly 40 per cent of deal volume and 55 per
The Thames Valley and South Coast corporate finance team of James Cowper has secured the sale of Reading-based Aggregated Telecom for an undisclosed sum.
Acting on behalf of the company’s owner, James Cowper sold 8el to Selection Services, backed by Palatine Private Equity.
Founded in 2001 by Justin Hamilton-Martin, Aggregated Telecom which trades as 8el, is a networking, connectivity, voice and hosted telephony service provider to over 40,000 users across the UK. The sale was agreed and finalised on 23 January. Together the companies will boast revenues of GBP37m and around 400 employees.
The James Cowper team was led by
Early-stage investor Sunil Dhaliwal has launched Amplify Partners, an early-stage venture capital firm exclusively focused on Infrastructure 2.0 technology.
"Incumbent infrastructure vendors are vulnerable in a way the technology industry hasn’t seen in over 25 years," says Dhaliwal (pictured). "Those vendors share over a trillion dollars of market value that is ripe for disruption by startups leveraging the technical, cultural, and go-to-market shifts that define Infrastructure 2.0. We intend to be the investor of choice for entrepreneurs who share that vision."
With financial backing from IT infrastructure executives, financial industry veterans and forward-thinking institutional investors, Amplify Partners has the flexibility
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