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Private equity firm Thoma Bravo has completed the acquisition of Deltek, a provider of enterprise software and information solutions for professional services firms and government contractors, for USD13 per share or USD1.1bn.
With the transaction completed, Deltek’s stock ceased trading on the Nasdaq under the ticker symbol PROJ at market close yesterday.
Deltek will remain headquartered in Herndon, Virginia, and will continue to be led by its existing senior management team.
“We look forward to partnering with existing management to accelerate growth through Thoma Bravo’s proven buy and build strategy,” says Holden Spaht (pictured), partner at Thoma Bravo. “We’re confident
IO, a provider of next-generation modular data centre technology and services, has raised USD90m in equity from a group led by New World Ventures, a Chicago-based venture capital firm focused on technology innovations.
Existing IO investors also participated in the funding.
"From the moment we saw this product, we knew it would revolutionize the industry," says Chris Girgenti, New World Ventures managing partner and newly appointed member of IO’s board of directors. "Designed from the ground up, IO delivers world class data centre infrastructure capacity at substantially lower capital cost, with significantly shorter lead times, while providing industry leading energy
Longitude Capital has closed Longitude Venture Partners II, a USD385m venture capital fund dedicated to investments in drug development and medical technology.
The fund exceeded its target of USD325m. The fund is the successor to Longitude’s inaugural investment vehicle, Longitude Venture Partners, which closed in July 2008 at USD325m and exceeded its target of USD250m.
Juliet Tammenoms Bakker, Longitude co-founder and managing director, says: "Longitude’s venture growth strategy in life sciences focuses on building balanced portfolios of primarily mid-stage to commercial-stage companies with clinically de-risked assets and three-to-five year liquidity horizons. Our approach has enabled strong absolute and relative performance
Law firm Baker & McKenzie has appointed London-based partner Simon Hughes as chair of the global private equity group.
Hughes (pictured) will be responsible for co-ordinating strategy for a group that acts for a wide range of sponsors, portfolio companies and management teams around the world and across all sectors.
The global private equity group comprises nearly 300 private equity lawyers across EMEA, North America, Latin America and Asia Pacific.
Hughes says: “This is an exciting time to be taking on this role. The private equity industry has been going through a period of significant change globally. We want
Capital Dynamics, as the private asset manager for a UK pension fund, has acquired a 26-megawatt (MW) portfolio of gas-fired power plants from UK Coal Plc.
The portfolio consists of four sites located in North Yorkshire and the East Midlands that recover waste mine methane and convert it to electricity, which is sold under long-term sales contracts with both UK Coal and other major UK energy suppliers.
Capturing waste mine methane to produce electricity is an important step toward more sustainable energy production. Preventing methane – a 25-fold more potent greenhouse gas than CO2 – from escaping directly into
Private equity firms invested about USD2,521m across 97 deals in India during the quarter ended September 2012, according to a study by Venture Intelligence.
Thanks to the USD1bn investment by Bain Capital in US-listed, Gurgaon based BPO firm Genpact, the investment amount showed a growth of 4.4 per cent over that invested in the same period last year (USD2,415m across 120 transactions) and a healthy 32 per cent over the immediate previous quarter (which had witnessed USD1,909m being invested across 105 transactions).
Despite the quarterly up tick, the total PE investments in the first nine months of 2012 at USD6,488m
Private equity funds in the US raised nearly as much capital in the first three quarters of 2012 as during the entire 2011 calendar year, according to Dow Jones LP Source.
In addition, 2012 commitments from limited partners in Europe are on track to surpass 2011 fundraising.
During the first three quarters of 2012, US private equity firms raised USD130.1bn for 326 funds, a 36 per cent increase in capital raised despite 19 fewer fund closings as compared with the first three quarters of 2011, and nearly matching the USD131.5bn total capital raised during 2011.
In the third quarter
Ian Gobin and Deborah Poole have been appointed partners of Appleby within the funds and investment services team.
Both Gobbin (pictured) and Poole join Appleby from Walkers.
Gobin joined Appleby on 1 October 2012 and Poole, who was instrumental in starting Appleby’s London office back in 2012, will start in May 2013.
These appointments are at the core of Appleby’s focussed and strategic drive to enhance its global profile within the offshore funds world and in particular its Cayman funds offering.
Gobon was called to the Bar of England and Wales in 1997 and was employed by Clifford Chance from
UK private equity investor NBGI Private Equity has appointed David Turner as an investment manager in the firm’s UK team.
Turner (pictured) joins from Experian where he was as a member of its corporate development team. He was responsible for originating and executing acquisitions and commercial JVs across Experian’s target markets including information, marketing and financial services and technology and internet platforms.
Having qualified as an accountant with Grant Thornton in London, he transferred into its corporate finance team before moving on to goetzpartners Corporate Finance.
Mark Owen, founder director of NBGI Private Equity, says: “We’re delighted to welcome David to
Actis, the pan-emerging markets private equity firm, has confirmed the final close of its second African real estate fund, Actis Africa Real Estate 2, with total commitments of USD278m.
The fund will focus on retail and office developments in East, West and Southern Africa, excluding South Africa.
Actis’s ten person real estate team has already established a visible portfolio for the fund with developments in Kenya, Ghana, Nigeria and Zambia. These include Ghana’s first green office building, One Airport Square in Accra, and East Africa’s largest retail centre, Garden City in Nairobi.
Paul Fletcher (pictured), senior partner at Actis,
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