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Affiliates of private equity firm Centerbridge Partners have acquired Cardinal Logistics Management, a provider of domestic delivery transportation systems.
Vin McLoughlin, chairman of Cardinal, says: "With the successful completion of this transaction, Cardinal is now better positioned than ever to serve our customers and continue our consistent long-term track record of strong, sustainable growth. The transaction also represents the start of an exciting new chapter in Cardinal’s history with the partnership and financial backing of Centerbridge."
Will Manuel, senior managing director of Centerbridge, says: "Vin, Tom, Jerry Bowman, and the rest of the Cardinal team have done an exceptional job
Middle market private equity firm Norwest Equity Partners has made a significant majority investment in Stanton Carpet, a distribution company offering a variety of decorative, branded soft floor covering products for the residential market.
Founded in 1980 by Sy Cohen, Stanton maintains an active base of more than 3,500 customers comprised of independent retail floor showrooms, architecture and design firm showrooms, and catalogue and internet retailers.
Todd Solow, NEP partner and Stanton board member, says: “Stanton is a great fit with NEP’s investment strategy in the distribution industry, and we believe it is an excellent time to invest in the
JP Morgan Worldwide Securities Services has added reporting capabilities for Form PF, the Securities and Exchange Commission’s new regulatory filing for registered investment advisers, to its suite of services.
The new reporting capability will provide clients with access to business critical information allowing them to meet this regulatory requirement.
Form PF is designed to assist the Financial Stability Oversight Council in its assessment of systemic risk in the US financial system. The new SEC rule requires investment advisers registered with the SEC that advise one or more private funds and have at least USD150m in private fund assets under
Hogan Lovells advised Chellomedia, the international content division of Liberty Global, Inc, on the acquisition of MGM Networks Inc from Metro-Goldwyn-Mayer Studios Inc. (MGM). The deal was announced on 1 August 2012.
Chellomedia is a leading producer and distributor of 56 television channels, including 19 joint ventures. It has acquired MGM Networks’ channels in Spain, Turkey, Israel, Benelux and Poland, India and South East Asia, in addition to the pan-EMEA Channel and its associated feeds. MGM will retain its network businesses in the US, Canada, UK and Germany, and its joint venture interests in Brazil and Australia.
Chellomedia also acquired
Nitero a developer of next-generation, 60GHz Wi-Fi solutions of mobile devices, has added Trailblazer Capital as an investment partner in its latest round of funding.
Joined by founding investors, Southern Cross Venture Partners and Austin Ventures, this round will provide capital for further development of Nitero’s solution.
"Serving as a Board member for Nitero has provided excellent insight into the capabilities of the company and the market viability of their 60GHz platform. The team has executed upon demanding development plans in a timely and capital efficient manner. We’re excited to lead this next round of financing and provide incremental industry
Kier has completed its investment in Biogen (UK) Limited, establishing a 50/50 joint venture in the UK’s leading food waste to energy business with its parent company Bedfordia Group plc.
Headquartered in Bedfordshire, Biogen designs, builds and operates large-scale anaerobic digestion (AD) plants to process food waste and produce renewable energy.
Kier’s maximum total investment is GBP24.375m (comprising a mixture of preferred and ordinary equity), of which GBP5.375m was invested on completion. A further GBP2.5m of equity will be invested in December 2012 and another GBP2.5m in July 2013. The remaining GBP14m is scheduled to be invested in instalments
Quarter two insolvency figures released by The Insolvency Service show administration figures for UK retail have dropped from the first quarter of 2012.
The retail trade sector alone (not seasonally adjusted) showed an eight per cent reduction in the number of administrations compared to the figures recorded for Q1 2012, with 52 businesses entering into administration, compared with 57 in Q1 2012.
From the recent June sale figures released by The Office of National Statistics, clothing and footwear could be considered to be the drivers behind the sector’s better performance.
Q2 has proved to be a more buoyant
Bowside Capital has held final closing of Bowside Capital Fund II, a fund specialising in the US private equity, small capitalisation market.
Bowside Capital invests in US private equity funds with less than USD100m in committed capital, makes secondary purchases of limited partner interests in funds that meet its target criteria, and co-invests with these small funds in direct transactions.
“When we launched our prior fund in 2009, much of the fundraising process involved educating investors on the merits of a strategy dedicated to this segment of private equity and the strengths of a hybrid vehicle rather than a fund
LevelUp, the world’s first "interchange zero" payment network, has raised an additional USD9m in venture capital from Deutsche Telekom venture capital arm T-Venture and other individual investors.
This investment is the second part of a recent larger fundraising round, bringing the total raised to just more than USD21m.
LevelUp will use this funding to fuel both product development and the rapid expansion of its Interchange Zero mobile payment network.
Randeep Wilkhu, senior investment manager at T-Venture, will join the LevelUp board as an observer.
LevelUp, the second largest mobile payment network behind Starbucks, recently announced that it has achieved its
AlphaMetrix and Decision Analytics have come to an agreement regarding the initial Next Generation single manager product range.
The final manager and strategy selection criteria involve a number of factors with the prime focus on the quality and performance of the track record and strategy specialisation.
Next Generation Ucits funds will be listed on AlphaMetrix alongside managers’ non-Ucits funds and managed account vehicles, providing non-US investors a broader choice of vehicles offered by selected managers.
Discussions with potential partner managers is an ongoing process and includes advanced discussions with managers such as Episteme Capital Partners (CTA), Global Advisors (systematic commodities),
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