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Citi has been awarded a mandate from glendonTodd Capital to provide private equity fund services.
Based in Dallas, Texas, glendonTodd is a private equity firm that focuses on investments in healthcare real estate, data centres and related infrastructure, technology-enabled business services companies, and financial services companies.
Mary Hatcher (pictured), chief financial officer and chief compliance officer at glendonTodd, says: "We think Citi’s proven expertise and extensive experience in meeting the specialised needs of private equity sponsors fits well with our investment philosophy. The knowledge of their staff and the depth of their capabilities were key factors in our decision when
SunTx Capital Partners has sold its portfolio company, Huron, to a financial sponsor.
Financial terms of the transaction have not been disclosed.
Huron, based in Lexington, Michigan, is a supplier of value-added tubular assemblies and precision machined products for the automotive industry. Originally founded in 1943, Huron uses advanced technologies and state-of-the-art systems to engineer and manufacture a diverse variety of customised products for the automotive industry.
Ned Fleming, founder and managing partner of SunTx, says: "Today’s announcement marks an important milestone for all parties involved. The sale of Huron is a validation of our firm’s investment strategy of seeing
Draper Triangle Ventures has held the first closing of its newest fund, Draper Triangle III, targeted to be a USD75m to USD100m fund.
With Fund III, Draper Triangle will continue to leverage the successful investment strategy of its two earlier funds, investing in early stage technology companies located in the Midwest, including Pennsylvania, Ohio and Michigan.
Over the past 13 years, Draper Triangle has been the region’s most active early stage venture capital firm, investing over USD115m in 37 companies. Draper Triangle’s portfolio encompasses investments in 26 companies in Western Pennsylvania totalling in excess of USD80m, including Renal Solutions, Carnegie
ProShares, a provider of alternative exchange-traded funds, has launched the ProShares Global Listed Private Equity ETF (PEX).
PEX is the first globally diversified ETF focused on companies that invest primarily in private enterprises.
“Private equity has long been a staple of institutional and high-net-worth individuals’ portfolios; for other investors, it’s been difficult to access,” says Michael L Sapir (pictured), chairman and chief executive of ProShare Advisors, ProShares’ investment advisor. “PEX offers access to global private equity with the liquidity, transparency and cost effectiveness of an ETF.”
Archangels, the business angel syndicate, increased its funding support for Scottish early stage business in 2012, making it Scotland’s largest provider of business angel funding for the year.
Last year, Archangels – which was established by Edinburgh-based entrepreneurs Mike Rutterford and Barry Sealey in October 1992 – invested GBP9.5m in new business (up from GBP8.75m in 2011), with GBP5.73m coming from the Archangels themselves (up from GBP4.88m in 2011) and the remainder coming from partners, including the Scottish Investment Bank which invested GBP2.78m (from the Co-Investment Fund and Venture Fund).
Throughout 2012 Archangels completed three new investments – Calcivis
Independent oil and gas company Aladdin Middle East has raised USD20m in new equity from 4D Global Energy Advisors SAS (4DGEA), a Paris-based private equity investor that specialises in the energy sector.
The equity financing will enable Aladdin Middle East to finance its committed and contingent work programmes and working capital to build on its asset base in the Republic of Turkey.
The natural resources team at UK tax, audit and advisory firm Crowe Clark Whitehill worked alongside Murphy Richards Capital to provide investee due diligence services to the transaction.
Stephen Bullock, head of natural resources at Crowe Clarke
Sovereign Capital portfolio company City & County Healthcare Group has acquired ISS Healthcare (ISS), extending the group’s complex care offering and marking its first acquisition in Wales.
ISS provides care in the home from its two branches in Torfaen, South Wales and Birmingham. The Torfaen branch was established in 2001, with the Birmingham branch following two years later. It employs nearly 200 care staff, who provide a mixture of complex care, 24 hour care, elderly care and private care, supporting each service user to live independently in their own homes.
Post-acquisition, the two branches will continue to be run by
GI Partners, a Bay Area-based multi-strategy private equity investment manager, has acquired a data centre-anchored property in Hayward, California.
The investment was made through DataCore, a fully discretionary core real estate fund managed by GI Partners.
The California State Teachers’ Retirement System (CalSTRS) created DataCore in 2012 as a core investment vehicle to invest in technology-advantaged real estate in the US, including data centres, internet gateways, corporate campuses for technology tenants and life science properties located in primary MSAs and leased to industry leading tenants. In November 2012, the fund acquired its first asset, Lightwave Corporate Centre in San Diego,
Fortress Investment Group has reported a 20 per cent increase in base quarterly dividend to USD0.06 per dividend paying share, effective for the fourth quarter of 2012 and full year 2013.
Fortress also repurchased 51.3 million dividend paying shares at a price of USD3.50 per share, representing approximately 10 per cent of dividend-paying shares outstanding.
Assets under management totalled USD53.4bn as of 31 December 2012, an increase of four per cent from the third quarter of 2012 and 22 per cent from the fourth quarter of 2011
GAAP net income totalled USD222m and USD219m for the fourth quarter and year
Private equity firm Nautic Partners has completed the sale of Big Train to Kerry Group.
The terms of the transaction have not been disclosed.
Headquartered in Lake Forest, California, Big Train is a manufacturer and marketer of liquid and powdered beverage concentrates used for blended ice coffee, fruit smoothies, chai tea, cocoa drinks and various syrups.
The company distributes its products through multiple channels, including independent coffeehouses, large retail chains, and international distributors. Big Train serves its approximately 14,000 coffeehouse customers directly, as well as through distributors. Coffeehouses sell the company’s product under the “Big Train” brand as well as
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