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Bindi Karia has joined Silicon Valley Bank’s UK branch to lead the firm’s efforts in the early stage “accelerator” space.
Karia (pictured), currently the venture capital/emerging business lead at Microsoft UK, will begin the newly created role in January 2013, reporting into Phil Cox, head of EMEA and India and president of the bank’s UK branch.
Cox says: “This new appointment demonstrates Silicon Valley Bank’s commitment to the UK technology scene. Bindi is extremely well connected within the industry and we are delighted to have her on board to drive our growth efforts for new banking clients in the Accelerator
The Pembani Remgro Infrastructure Fund and The Carlyle Group are to make a strategic minority investment of USD210m in Export Trading Group (ETG), an African agricultural commodities supply chain manager.
This is the first investment by Carlyle’s Sub-Saharan Africa Fund and the Pembani Remgro Infrastructure Fund.
Standard Chartered’s Africa Private Equity division (SCPE), the first private equity investor in ETG, is increasing its investment from January 2012 and ETG’s founders have also subscribed for additional equity. The transaction is expected to close in November 2012.
Marlon Chigwende, managing director and co-head of the Carlyle Sub-Saharan Africa Fund, says: “This is
Hogan Lovells has advised AEA Technology on its restructuring and the sale of certain of its businesses including its European consulting business to Ricardo for GBP18m.
AEA Europe, which went into administration on 8 November 2012, is an environmental consultancy providing technical consultancy services to the UK public sector, the European Commission, international agencies and private sector organisations.
Engineering consultancy Ricardo has acquired the business, operating assets and a staff of approximately 400 located at five UK sites from AEA and will operate as Ricardo-AEA.
The Hogan Lovells team advising AEA was led by co-head of private equity Alan Greenough
Amalgamated Capital (AmalCap), the New York-based leveraged finance division of Amalgamated Bank, has provided a USD5m senior secured revolving credit facility to Carol’s Daughter, a portfolio company of Pegasus Capital Advisors.
AmalCap provides asset-based financing to individual companies as well as cash flow-based senior secured financing to support investments made by private equity sponsors in high quality, lower middle-market companies across the US.
Manhattan-based Carol’s Daughter develops and distributes hair and beauty products through wholesale, retail and ecommerce channels.
Headquartered in Connecticut, Pegasus is a private equity fund manager with approximately USD2bn in assets under management.
"With the funds to
Financial services firm Accordion Partners has established a presence in Dubai.
In partnership with Eagle Investments, a Dubai-based investment advisory firm, Accordion will now be offering its operational and transactional support services to capital providers and corporate development groups in the Gulf region
“Over the past year, we’ve been diving into the large market opportunity for Accordion in the Middle East and neighbouring regions, and I’m now excited to announce the formal launch of our Dubai-based team, in partnership with Eagle,” says Nick Leopard, founder and chief executive of Accordion Partners. “Eagle is a well-respected and prominent player in the
Willow Laboratories has been acquired by Boston-based private equity firm Ampersand Capital Partners.
Willow is a clinical and forensic toxicology laboratory providing urine, hair and saliva testing services to a wide range of healthcare providers including treatment centres, physician practices, and other laboratories.
Using state-of-the-art technology, Willow provides qualitative and quantitative alcohol and drugs-of-abuse test results to aid clients in the diagnosis and treatment of substance abuse.
Gail Marcus has joined Willow as president and chief executive officer. Marcus has significant experience building healthcare service organisations and was recently chief executive of Caris Diagnostics (now Miraca Life Sciences), a national
eVestment, a provider of institutional investment data and cloud-based analytic solutions, has acquired PerTrac, a provider of hedge fund analysis software and workflow solutions, and Fundspire, a cloud-based technology provider of hedge fund analytics.
Terms of the deals have not been disclosed.
With the acquisitions, eVestment now serves over 2,500 clients across the entire investment industry spectrum, including traditional and alternative money managers, consultants and financial advisers, funds of hedge funds, corporate and public pensions, endowments and foundations, sovereign wealth funds, banks and brokerages.
“We are very pleased to welcome PerTrac and Fundspire into the eVestment family and very excited
The Institutional Limited Partners Association has appointed Michael Mazzola, managing director, head of alternative investments at MetLife, to the position of chairman of ILPA’s board of directors.
"I am pleased to have the opportunity to chair the ILPA and to support the organization as it expands its global reach,” says Mazzola. “As the ILPA looks to extend its position as a leading provider of private equity industry research and educational offerings, I look forward to working with members and the broader private equity community on initiatives that will strengthen the asset class over the long term.”
In addition to Mazzola,
Linedata, a solutions provider dedicated to the investment management and credit industries, has launched a new version of Linedata Mshare investor accounting and administration solution.
This latest upgrade addresses forthcoming regulations and industry standards offering full compliance with FATCA. It also offers new SWIFT messaging capabilities in anticipation of a wider rollout of the new set of hedge fund SWIFT message formats.
Regulation has become a key issue and a growing overhead for administrators and their clients worldwide. Linedata Mshare now enables early compliance with FATCA, an upcoming major regulatory requirement, by ensuring that data are collected and flagged
Linklaters has signed three private equity deals in one day, advising Triton Partners on the sale of Dematic to AEA Investors and Teachers’ Private Capital, the private equity arm of Canadian pension fund, Ontario Teachers’ Pension Plan (OTPP).
Dematic was founded in 1819 and, in 1973, became part of steel and machine group Mannesmann, which then sold it to Siemens. Triton acquired Dematic in 2006.
Initially run as an auction, this complicated transaction involved running a high yield bond prior to the sale itself for which ACA and OTPP are using US financing to support the acquisition.
The transaction was
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