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Idinvest Partners has held the first closing for its new investment vehicle which is exclusively dedicated to secondary transactions – Idinvest Secondary Fund.
The fund has already received EUR100m in commitments. The fund’s investors are European financial institutions, one third of which are new LPs.
Christophe Bavière (pictured), chief executive of Idinvest Partners, says: “This new fund is fully in line with our secondaries strategy and meets the expectations of our historic investors who appreciate our investment style. Our strategy consists of focusing on small to medium-sized European companies with solid fundamentals. In the current economic context, investment funds
Brille24, a German online retailer for prescription eyeglasses, has closed an equity financing deal through its holding Tejado with growth investment firm TIME.
The company signed a financing deal with growth investment firm TIME for an amount of up to EUR12m, of which EUR7m is invested as of today.
Matthias Hunecke, who founded the company in 2007, remains the largest shareholder.
Brille24 offers prescription eyeglasses with the same quality as those sold by the traditional opticians, but at very affordable prices. The frames and corrective lenses are less than one fourth the average price of the traditional optician chains.
A fund managed by Blackstone on behalf of its private equity investors, Blackstone Capital Partners V, is to acquire GCA Services Group, a US facility services company, from Nautic Partners and other minority shareholders.
Robert Norton, chairman, president and chief executive of GCA Services Group, says: “This transaction is a tremendous opportunity to fuel our continued growth. We have transformed ourselves into one of the country’s leading facility services companies in a few short years and our new relationship with Blackstone demonstrates our management-led commitment to continued dynamic growth which will energise our investment in our people and our dedication
Russian Direct Investment Fund’s Russia-China Investment Fund (RCIF) has reached a preliminary agreement to become a shareholder of Russia Forest Products (RFP), Russia’s second-largest forestry company.
RCIF’s investment will fund the company’s move up the value chain from producing primarily raw logs to higher value added products like veneer and sawnwood.
Completion of the transaction is subject to the satisfactory completion of regulatory approvals, as well as final approval according to corporate procedures of RCIF.
“This transaction ideally fulfils the mission of the Russia-China Investment Fund: we expect it to generate strong returns as well as to advance bilateral
Global banks are in a phased retreat from the European equity brokerage business, and retrenchment on the part of brokers could result in some tough choices ahead for European institutional investors, according to Greenwich Associates.
In this difficult environment for brokers, UBS has secured the top spot in European institutional equity trading market share, maintaining a narrow lead over a trio of competitors tied for second place, while Deutsche Bank beat out rivals to claim the title of leading provider of institutional equity research.
Sell-side firms are recalibrating their approaches to this core business in the face of a
The total value of funds business in Guernsey grew by GBP711m (0.3 per cent) during the second quarter of the year.
New figures from the Guernsey Financial Services Commission (GFSC) show that the second quarter increase has built on the GBP9bn growth during the first quarter of the year to take the total net asset value of funds under management and administration in the island to GBP270.8bn at the end of June 2012.
This represents a decrease of GBP3.6bn (1.3 per cent) year on year but is up GBP46.6bn (20.8 per cent) on the same time two years ago and
Tully & Holland has acted as financial adviser to Belize Aquaculture in conjunction with an investment in and recapitalisation by Thailand-based Seafresh Industry.
This joint venture will provide Belize Aquaculture additional capital for growth.
The company was founded in 1996 by Sir Barry Bowen.
"Belize Aquaculture is one of the premiere shrimp farms and integrated production facilities in the world," says Tim Tully, president of Tully & Holland.
Using strict environmental controls and adherence to the highest standards of sustainability and traceability, Belize Aquaculture has achieved one of the highest productivity levels in the shrimp farming industry using a
Mid-market private equity firm GI Partners has sold its portfolio company, PC Helps Support, to Baird Capital Partners (BCP), the US-based buyout fund of Baird Private Equity.
The sale of PC Helps generated a return of approximately five times invested capital to limited partners of GI Partners Fund II.
PC Helps supports over 200 software applications and serves over 400 clients across 15 vertical markets. The company was acquired by GI Partners in 2005. Under the investment firm’s nearly seven years of stewardship, PC Helps substantially expanded its operations and achieved considerable organic growth. The company increased employee headcount by
Innova Capital, a Central European private equity fund, has entered the market of specialist medical services in Poland through its investment in the Ujastek Gynaecological and Obstetrics Hospital.
The fund will spend more than PLN150m on building a chain of hospitals and clinics providing advanced medical care in the area of gynaecology and obstetrics, pathology of pregnancy and neonatology, including, in particular, intensive care of newborn infants.
Innova Capital’s target equity commitment to the programme of acquisitions and integration in the sector may exceed PLN150m over two years.
“Our common vision is to create a platform of specialist services providing
Blackstone has held the final closing at just over USD2.5bn of Blackstone Energy Partners (BEP), its first dedicated energy focused private equity fund.
BEP invests in control and control-oriented equity investments within the energy and natural resources sector on a global basis.
Blackstone Capital Partners VI, Blackstone’s USD16bn diversified global private equity fund invests alongside BEP in energy and natural resources transactions.
David Foley, chief executive of the fund and global head of energy and natural resources for Blackstone’s private equity group, says: "We are pleased with the warm reception this fund received in an otherwise difficult fund raising environment
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