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Baker & McKenzie has advised AXA Private Equity on its acquisition from the private equity arm of Ontario Municipal Employees Retirement System (OMERS) of a portfolio of 11 private equity fund investments and the related unfunded commitments.
The portfolio represents a total size of approximately USD850m in original commitments, in predominantly North American and global buyout funds.
AXA Private Equity has assets of USD28bn managed or advised in Europe, North America and Asia.
Baker & McKenzie partner Bruno Bertrand, who led on the deal, says: "This is a major secondary transaction in the North American market. It’s a
Investment bank Harris Williams has advised on the sale of Drayer Physical Therapy Institute to affiliates of GS Capital Partners.
Drayer was a portfolio company of Linden Capital Partners, which invested in Drayer in a 2008 recapitalisation along with management.
Harris Williams acted as the exclusive financial adviser to Drayer.
“Drayer has established itself as a clear leader in the physical therapy market through the quality of its patient care, operational excellence and mission driven approach. This transaction is evidence of the continued strong interest that continues in the sector, driven by investors’ desire to find scalable business models that
AsianInvestor this week reported that Joe Chan’s Galaxy Asset Management, one of Hong Kong’s longest running hedge funds, had decided to shutter its China Absolute Return Ucits hedge fund just 19 months after inception. The fund, which at the time was the first Ucits-compliant, China-focused hedge fund to be launched by an Asian fund manager, launched with USD30million in November 2010. It has now earned another, albeit unwelcome, first by becoming the first known closure of a China alternative Ucits fund by an Asian manager.
The fund ceased trading at the end of May according to a Galaxy spokesperson. Based
Paulson Investment Company, a wholly owned subsidiary of Paulson Capital, has hired Chris Clark as senior managing director and Bryan Hagen as chief compliance officer.
Clark has over 23 years of industry background in investment banking, private placements, and as co-owner of several broker-dealers and asset management firms.
“He joins us from a San Francisco venture capital investment bank to help us expand our role in the venture capital and private placement markets," says Chet Paulson (pictured), chairman of Paulson Capital. "We look forward to leveraging Chris’s institutional expertise to expand our funding options for our client companies."
"We are
Doug Richard’s School for Creative Startups and Ascension Ventures, the investment arm of creative and digital sector investment and business services group Ascension Media Group, have formed a partnership which will see graduates of the school receive funding and business support to get their new enterprises off the ground.
Founded in 2011 as an offshoot of his School for Startups, School for Creative Startups is designed to teach creative people how to actively build successful start-ups and live from their endeavour. A hands-on teaching programme for early stage creative businesses, the School provides tuition in the form of bootcamps, workshops,
China’s central bank surprised markets by unexpectedly cutting interest rates for the second time in two months. Benchmark lending rates have been lowered by 31 basis points to 6 per cent, whilst deposit rates will be cut by 25 basis points to 3 per cent, says Liz Evans (pictured), Senior Investment Director and Manager of the Cavendish Asia Pacific Fund…
Whilst a second rate cut was widely expected later this year, few imagined it would come so early. The surprise timing may well be an attempt to deflect attention from the Q2 GDP figure, which is expected to disappoint and
Private equity firm ECI Partners’ portfolio company, Wireless Logic, has expanded its European presence through the opening of three regionally-based offices in France, Germany and Spain.
Buckinghamshire based Wireless Logic, a UK-based machine-to-machine (M2M) managed services provider, has recruited industry specialists in the new locations.
Oliver Tucker, Wireless Logic chief executive and co-founder, says: “The global M2M market continues to grow rapidly and Wireless Logic is ideally placed to support our customers to take advantage of the enormous range of opportunities this technology provides.
“We are committed to developing our presence across a number of key European countries
Azad Zangana (pictured), European Economist at Schroders, on the ECB’s decision to cut interest rates to a record low…
The European Central Bank has cut its main policy rate for the first time since December 2011, taking the refinancing rate down from 1.00% to a record low of 0.75%. In addition, the ECB has cut its marginal lending rate to 1.5%, and its deposit rate to zero. While the cut in the main refinancing rate was expected, the cut to the deposit rate comes as a surprise as the bank has in the past emphasised the need to have a
Lincoln International, a mid-market investment bank, has completed the sale of Carbolite Holdings, a Derbyshire-based designer and manufacturer of electric laboratory and industrial furnaces.
The company was owned by Nova Capital and was part of a portfolio of six businesses acquired by Nova from Barloworld of South Africa in November 2007.
Under Nova’s stewardship, and as a result of Carbolite’s growth since 2007, the gross equity return to Nova’s investors will be around 3.5 times the equity invested in the Carbolite business.
Carbolite has been sold to the Verder Group, a Dutch family-owned solutions provider for liquids handling, process handling
CDC Group, the UK’s development finance institution, has appointed Colin Buckley as chief operating officer.
Buckley (pictured) joins CDC after a career combining international development and corporate finance.
His development experience includes working for governments, multilateral donors and private philanthropy organisations.
Buckley will be responsible for improving the effectiveness of the organisation to deliver CDC’s new strategy.
Before joining CDC, he was the executive director, investments at the Children’s Investment Fund Foundation, where he headed the foundation’s expansion of health, education and nutrition programmes in Sub-Saharan Africa and South Asia.
Between 2005 and 2009, he managed around USD400m in US
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