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RRE Ventures has successfully closed the RRE Ventures V fund with capital commitments of USD230 million.
RRE is a New York City-based venture capital firm focused on companies that leverage technologies to disrupt and transform many of the world’s major industries.
Led by Co-Managing Partners James D Robinson IV and Stuart J Ellman, RRE has organised and managed five funds since its founding in 1994, with total capital commitments exceeding USD1 billion.
“We are very pleased with the support we received from the investment community for RRE V,” says Jim Robinson, co-managing partner of RRE. “Our differentiated investment strategy and excellent track record stand
MIddle market private equity firm The Sterling Group has completed the acquisition of the Dexter Axle business from Tomkins Industries, a subsidiary of Pinafore Holdings.
The investment is Sterling’s fourth investment in its third fund, an USD820 million fund raised in 2010. Dexter is the second business Sterling has acquired from Tomkins in the last fourteen months.
Dexter is a leading designer and manufacturer of trailer axle, brake, and suspension assemblies and related replacement parts and components for use primarily in the industrial and utility trailer and RV markets in North America. "For over 50 years, Dexter has provided customers
First Investors Financial Services Group has completed its previously announced merger with an affiliate of private equity firm Aquiline Capital Partners.
The total consideration to be received by the former holders of First Investors securities will be approximately USD100 million. First Investors, which is now a wholly-owned subsidiary of a company controlled by Aquiline Capital Partners, has ceased trading of its common stock on the OTC Pink Sheets.
Former shareholders of First Investors will receive instructions shortly for surrendering their stock certificates to Wells Fargo Bank, National Association, who will act as paying agent with respect to the merger. Each
Global venture capital firm New Enterprise Associates (NEA) has named Dayna Grayson as Partner. A venture capitalist with operational and product development expertise, Grayson will work with NEA’s East Coast technology team, focusing on early-stage investments in enterprise and consumer internet companies.
"Dayna is a talented investor who is intensely focused on fostering entrepreneurship and has deep roots in the East Coast venture capital ecosystem," says Peter Barris, Managing General Partner, NEA. "As NEA increases our investment focus on thriving technology and life sciences hubs spanning the Northeast, Mid-Atlantic and Midwest, we believe Dayna will be an outstanding addition to
Deutsche Bank has launched an app-based fund solution that provides access to its fund administration services as well as award-winning research and analytical tools in one place via the Bank’s Autobahn App Market.
The Autobahn App Market not only consolidates hedge funds, fund of funds and private equity applications in a single sign-on, intuitive environment, it also gives alternative investment managers access to the full resources of Deutsche Bank, including industry research, analytic tools and customised reporting included in the existing package.
The Autobahn App Market is a web-based distribution channel that to date contains more than 150 Apps. The
Mindbody, a provider of online business management software to the beauty, health and wellness industry, has completed a USD35m investment round led by Institutional Venture Partners (IVP).
The company’s existing investors, Catalyst Investors and Bessemer Venture Partners (BVP), also participated in the latest investment.
The capital raised will be used to accelerate Mindbody’s international expansion and ongoing product development. Mindbody currently serves over 21,000 health, wellness and beauty-based businesses in 80 countries worldwide.
Mindbody’s SaaS business management solution helps local businesses manage all aspects of their operations within a single system, from web scheduling and staff management, to
Private equity firm GTCR has acquired Premium Credit from MBNA Europe, a subsidiary of Bank of America.
Premium Credit is a provider of payment facilitation and financing services in the UK and Ireland.
GTCR is partnering with new chief executive Andrew Doman and existing management of Premium Credit to recapitalise the company and further invest in the company’s technology and services offerings going forward. Total asset value was approximately GBP900m (USD1,450m).
Founded in 1988, Premium Credit works in partnership with a diverse network of insurance brokers and carriers to enable businesses and individuals to pay insurance premiums in instalments rather
On the back of the HSI Volatility Index (VHSI), which measures Hang Seng Index (VNKY) option prices, reaching a six-year low earlier in October, Asian hedge funds are positioning themselves to bet on a return of volatile asset prices reported Bloomberg News this week.
Andrew Wong, a former Artradis Fund Management Pte manager, and who founded Fortress Convex in May with David Dredge as part of New York-based Fortress Investment Group LLC, was quoted as saying: “The last time we heard people say that in a low volatility environment that volatility was never going to rebound was in late 2006,
BVCA Chief Executive Mark Florman (pictured) welcomes Lord Heseltine’s ‘radical report on wealth creation…
Lord Heseltine’s radical report looking at the urgency of reforms to unleash growth and wealth creation in Britain makes for compelling reading. His emphasis on a strategy for the cities and regions, not just London, is one the BVCA has long championed with our regional engagement programme.
The need for good and consistent regulation, made in conjunction with business and without constant overhaul is another recommendation I welcome. The emphasis on a strong and multi-faceted industrial policy is vital. As I said at the BVCA Summit,
Euro Choice II, the private equity investment programme focusing on the European market, has sold its majority stake in SENIOcare, a long-term care group in Switzerland, to funds managed by private equity investment group Waterland.
Founded in 1983, SENIOcare has 26 nursing homes across Switzerland and over 1,000 residents cared for by over 1,000 full or part-time employees. In 2012, SENIOcare will achieve a turnover of about CHF100m.
Since the investment in late 2007, SENIOcare has seen substantial growth in sales and earnings through focused business development and a re-organisation of the company to tackle growth.
“Management and staff have
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