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Macquarie Group has appointed James F. Frawley as a senior managing director and US head of mergers and acquisitions.
Frawley will join Macquarie from FBR, where he served as head of mergers and acquisitions and head of FBR’s New York investment banking office.
“I am delighted to welcome Jim to Macquarie,” says Rob Redmond, US head of Macquarie Capital, the firm’s corporate finance group. “Jim’s deep M&A expertise complement our already strong product offerings and will further help us to deliver holistic and customised solutions to our clients.”
Prior to joining FBR, Frawley was the co-founder of Legacy Partners Group,
HarbourVest Global Private Equity had an estimated net asset value per share of USD11.49 at the end of June, a USD0.08 per share increase from 31 May 2012 (USD11.41).
This change mainly reflects positive public markets and foreign currency movement, as well as increases in the value of privately-held investments as the portfolio was re-valued to reflect 31 March 2012 valuations.
At 30 June 2012, HVPE is valuing the Absolute portfolio at USD24.77 per share (including dividends received since closing), which is unchanged from 31 May 2012 and a 34 per cent increase over the purchase price of USD18.50
The HPE Private Equity fund is investing more than EUR20m in a minority stake in Cotesa, a manufacturer of fibre-reinforced composites.
The transaction has already been completed.
A team from CMS Hasche Sigle led by lead partner Stefan-Ulrich Müller advised Cotesa and the company’s existing shareholders on all legal aspects of the transaction, which is intended to provide strategic growth finance.
Cotesa makes high-performance components out of fibre-reinforced composite materials for the aviation and automotive industries. It
Investment company HPE specialises in growth finance for mid-sized technology companies in Western Europe. The strategic objective of HPE’s investment in Cotesa is
High Street Capital and Greyrock Capital Group have sold DSI/Data Source to Inverness Graham Investments.
Data Source, based in Kansas City, Missouri, is a business process outsourcing service organisation that provides a solution to document design and distribution and other back-office services.
Terms of the sale were not announced.
High Street Capital and Greyrock Capital Group partnered with the founders in March 2007 to grow Data Source both organically and through acquisitions. During their ownership, Data Source built a management team for growth, expanded to three industry verticals, completed three acquisitions and two strategic partnerships, added over 37 new clients,
Francisco Partners, a technology-focused private equity firm, has acquired Cross Match Technologies, a provider of interoperable biometric identity management systems, applications and services.
“Cross Match has a long history of innovation and has secured significant contracts with the most discerning government clients,” says Keith Geeslin, a partner at Francisco Partners. “Biometric technology is growing in importance, and Cross Match, with its strong management team and quality brand, is in an excellent position to capitalise on this growth.”
Founded in 1996, Cross Match’s offerings include a wide range of multimodal biometric solutions, which are used to capture and process the unique
Tullett Prebon, an inter-dealer broker, has hired Kishore Kansal, the founding partner and chief executive of PEFOX, to its alternative investments team in London as head of Tullett Prebon Private Equity Risk Solutions.
Kansal will be based in London and will lead Tullett Prebon Private Equity Risk Solutions (TPPERS).
Neil Campbell (pictured), head of alternative investments at Tullett Prebon, says: “We’re delighted that Tullett Prebon is bolstering its position and capabilities in risk management, at a time of both greater regulation and continuing economic uncertainty. With institutions coming under increasing pressure to manage risk and associated capital levels, Tullett
The private equity asset management team at Global Investment House has completed the exit of two of its managed funds, the Private Equity Fund and Global Opportunistic Fund I, along with co-invested clients from Al Rayan Holding Company.
The transaction was completed on 12 July 2012 and represents an 82 per cent stake.
The funds launched Al Rayan in 2007, and through acquisitions and organic growth created a network of six schools with over 10,500 registered students, making it the largest educational group in Kuwait offering educational services from kindergarten to high school.
In late 2009, the company went through
Hastings Funds Management has been selected by The RBS Group Pension Fund as its partner to develop and manage their private market infrastructure assets.
The initial allocation by The RBS Group Pension Fund is GBP750m.
The mandate is to source and manage core infrastructure investments in the UK and select OECD countries over the long term. The RBS Group Pension Fund, one of the UK’s largest pension schemes, is a long term investor seeking exposure to assets with reliable cash flows and a strong linkage to inflation to help match their pension liabilities.
Hastings will focus on
RJD Partners, a UK-based middle market private equity investors, has backed the management buyout of Harrington Brooks, a provider of debt management solutions, from Inflexion Private Equity.
The buyout is being led by chief executive Matthew Cheetham, who joined the business in 2007, and finance director Terry Sweeney, who was part of the original buy-in team in 2005, both of whom will increase their stakes in the business going forward.
Debt facilities have been provided by PNC Business Credit, an asset based lender and the company’s incumbent banker
Harrington Brooks is based in Sale, Manchester and was founded in 1998
A series of High Court judgments in London have provided a degree of clarity on the extent to which a limited partner in an English limited partnership is entitled to obtain information in relation to a private equity fund and its underlying investments.
According to a briefing by law firm Paul Hastings, these judgments are likely to impact contractual discussions between fund managers and limited partners in the key area of investor reporting.
The judgment is likely to have an effect on the manner in which investors will approach negotiations with general partners on reporting issues in new funds and
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