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Acanthus Advisers’ seventh annual survey of LP-GP relations examines the foundation of the LP-GP relationship, asking the question: “Is the LP-GP model working?”
And according to the private equity placement agent’s findings, on initial inspection, it would appear so. The majority of both LPs and GPs describe their relationship as neither weak nor strong and more respondents in both groups describe the relationship as excellent and solid versus weak.
There is evidence of stability in the face of significant volatility more broadly, with 60 per cent of both LPs and GPs believing the market dislocation of recent years has in
TLG Capital has made an investment in EmVest, a diversified agricultural fund focused on sub-Saharan Africa.
The fund has deployed over USD40m, employs approximately 1,500 people and manages over 10,000 hectares of land across South Africa, Mozambique, Swaziland and Zambia.
EmVest operates 10 projects across the agricultural chain, growing, processing and distributing food.
The collaboration sees EmVest join TLG’s Africa-focused asset manager platform, which provides institutional investors with the ability to invest in specific sectors and/or geographies. Together, TLG and EmVest have deployed capital of approximately USD65m across sub-Saharan Africa. Emvest intends to transition shortly into a corporate structure similar
Econocom, a European business-to-business IT and communications technology infrastructure management provider, has acquired 100 per cent of the shares of Cap Synergy.
Cap Synergy, known in the field of IT security and which generates a turnover of nearly EUR10m, brings to Econocom its portfolio of clients consisting of medium and large public and private-sector companies, including Accor, the French Ministry of the Economy and Finances, and RATP Dev.
This acquisition helps the company meet its objective of positioning itself as a strategic business partner offering total IT solutions, particularly in the protection of sensitive data, an expertise gained with the
Private Advisors has acquired the investment advisory business of Cuyahoga Capital Partners, a Cleveland, Ohio-based independent secondaries-focused private equity firm.
As part of the transaction, Cuyahoga Capital’s investment professionals will be joining Private Advisors’ private equity team and will be focused upon the deployment of their latest secondaries fund, which recently held its final close above its USD125m target.
Cuyahoga Capital is focused on value-oriented, secondary private equity investing. The firm manages approximately USD817m, which includes approximately USD203m across its four secondary private equity funds, USD65m in one primary private equity fund of funds and USD549m in advisory relationships.
Private
Hong Kong and Singapore have suffered a reverse of fortunes as they compete with New York and London as major centres for the world’s biggest hedge funds.
Referring to a survey produced by an industry publication, the Financial Times this week reported that the number of hedge fund groups managing more than USD1billion has fallen to 18, having stood at 21 six months ago. By contrast, New York has further strengthened its position as the hedge fund industry’s leading centre; its “billion dollar club” has grown from 139 to 153. London is pretty much unchanged, its number dropping by one
Symphony International has launched a fully underwritten USD100m rights issue.
The proceeds will allow Symphony to invest in additional opportunities that its investment manager is exploring in the healthcare, hospitality and leisure sectors (including branded real estate developments) in the Asia Pacific region.
The company believes there are a number of other potential benefits to shareholders by issuing further shares and increasing its available capital, including:
• Providing additional capital will enable the company to benefit from the continued investment opportunities in the market;
• Having a greater number of shares in issue which may provide the shares with additional liquidity;
Houston-based private equity firm Rock Hill Capital Group has closed on a majority recapitalisation of Big Lake Services, a West Texas oilfield services provider operating throughout the Permian Basin.
Big Lake, founded in 2006 by chief executive Casey Davidson, has a management team with over 150 years of Permian Basin experience. The company provides maintenance, completion and workover services to some of the most prolific exploration and production companies in West Texas, many of which have been customers since Big Lake’s inception.
Since the company’s founding, management and key personnel have grown the business from three workover rigs to 22
Levine Leichtman Capital Partners (LLCP), a Los Angeles based private equity firm, has appointed Lee Stern as a managing director and dedicated member of the credit strategies investment team.
Stern joins LLCP from Kohlberg, Kravis & Roberts (KKR), where he was a founding member of KKR’s private mezzanine fund.
He will be based in LLCP’s New York office and brings over 30 years of investment banking, private equity and leveraged finance experience to the team.
"Lee has successfully invested in numerous middle market transactions throughout the past several decades," says Arthur Levine, LLCP’s co-founder. "His expertise and leadership will be
Law firm Gide Loyrette Nouel has advised Siparex on the launch of its venture capital fund, Siparex MidMarket III, which held a first closing at EUR90m.
Its long-term end objective is to raise EUR150m.
Dedicated to financing the domestic and international growth of up-and-coming midcap companies, this French simplified-procedure fonds commun de placements à risques (FCPR) has collected the commitments of French and foreign institutional investors and family offices alike.
Siparex was advised by Gide Loyrette Nouel’s investment funds team comprising Stéphane Puel (pictured), Julien Vandenbussche and Caroline Herrgott.
IntraLinks Deal Flow Indicator (DFI) for the second quarter of 2012 shows a 23 per cent increase in global merger and acquisition deal activity compared to Q2 2011.
All regions also showed a year-over-year positive trend for Q2 2012 over Q2 2011, with the strongest growth in Asia Pacific (30 per cent) and similarly positive trends in Latin America (19 per cent), Europe/Middle East/Africa (EMEA) (23 per cent), and North America (22 per cent).
In addition to the 23 per cent year-over-year growth, the DFI also reveals increased volume in deals reaching due diligence over the last four
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