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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
Shareholders of Young Innovations have voted to adopt the agreement and plan of merger providing for the acquisition of the company by an affiliate of private equity firm Linden Capital Partners.
Approximately 98.96 per cent voted in favour of the adoption of the merger agreement, which represented approximately 90.06 per cent of the company’s total outstanding shares of common stock as of the 2 January record date.
A quorum of 91.01 per cent of the company’s total outstanding shares of common stock as of the 2 January record date voted at the meeting.
Upon consummation of the transaction, the company’s
Private equity firm Parthenon Capital Partners has completed an investment in Envysion, a provider of managed video surveillance as a service (MVaaS) for QSR, retail, wireless, convenience store and cinema customers.
Proceeds from the transaction will be used to provide growth capital for the company and to provide liquidity to certain shareholders.
Envysion is led by chief executive officer Matt Steinfort, who, with his team, has developed a cloud-based MVaaS solution providing powerful video-based business intelligence solutions to numerous retail end-markets.
Steinfort, who co-invested alongside Parthenon in the transaction, says: “Since we first met the Parthenon team over a year
Evercore Partners’ adjusted pro forma net revenues were a record USD638.9m for the 12 months ended 31 December 2012, compared to USD520.4m for the 12 months ended 31 December 2011.
Adjusted pro forma net revenues were USD212.0m for the quarter ended 31 December 2012, compared with USD111.6m and USD149.2m for the quarters ended 31 December 2011 and 30 September 2012, respectively.
Adjusted pro forma net income from continuing operations attributable to Evercore Partners was USD78.1m, or USD1.78 per share, for the 12 months ended 31 December 2012, compared to USD63.1m, or USD1.48 per share, for the 12 months ended 31
BioClinica, a provider of clinical trial management solutions, has entered into a definitive agreement to be acquired by a holding company controlled by private equity firm JLL Partners.
Simultaneously, JLL Partners has reached a definitive agreement to acquire CoreLab Partners, a provider of medical imaging solutions and cardiac safety services based in Princeton, New Jersey.
Following the proposed acquisitions, BioClinica and CoreLab Partners will be merged to create a provider of medical imaging services and eClinical solutions for clinical trials. Ampersand Capital Partners, which is the majority owner of CoreLab Partners, will also be a significant investor in the combined
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