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SS&C GlobeOp has launched its investor document processing and management solution, e-Investor, for hedge funds, fund of funds, private equity funds and managed account organisations.
In the alternatives industry, managing paper-based investor transaction documents, such as subscriptions and redemptions, is laborious, time-consuming, and fraught with risk.
SS&C GlobeOp’s e-Investor provides an electronic workflow solution, including web-based completion of investor documents reducing operational risks, speeding up transaction processing and achieving high levels of data quality and integrity.
In early 2012, a major financial institution deployed SS&C GlobeOp’s e-Investor to automate its investor subscription processing. Secure web-based access was granted to
Premium bar and nightclub operator Novus Leisure has been sold by majority shareholders Barclays Ventures and RBS Strategic investment Group for GBP100m to new investors LGV Capital and Hutton Collins, which have backed the existing management team.
Novus Leisure is the UK’s largest private bar and nightclub operator having a portfolio of 52 primarily London-based premium bars, including Balls Brothers and Tiger Tiger outlets and Polynesian themed nightclub Kanaloa.
Novus Leisure also operates nightlife guide website www.latenightlondon.co.uk.
Latham & Watkins represented Barclays Ventures, RBS and the Novus Leisure management team as sellers in the transaction with a deal team
Water Street Healthcare Partners, a private equity firm focused exclusively on the healthcare industry, has closed its third private equity fund, Water Street Healthcare Partners III.
The fund closed at its cap of USD750m of investor commitments, exceeding the original target of USD650m when fundraising began in early June.
Investors in the fund include domestic and international pension funds, endowments and financial institutions, most of which have invested in Water Street since the firm raised its first fund in 2006.
"We are very pleased with the value Water Street has built in its group of healthcare companies, and the strong
Koontz-Wagner has completed the previously announced sale of its subsidiary, Koontz-Wagner Custom Controls, to Global Power Equipment Group.
Custom Controls is a manufacturer and integrator of engineered packaged control house solutions for the energy, oil and gas, and electrical industries.
Headquartered in Indiana, Custom Controls has delivered products and services to more than 1,000 customer sites in over 35 countries.
The Custom Controls acquisition will expand Global Power’s products portfolio to its current customers and supports global expansion into adjacent infrastructure products and services.
Luis Manuel Ramírez, president and chief executive officer of Global Power, says: “We are acquiring a
Foresight Group has completed a growth capital investment of GBP3.5m in Blackstar Amplification, a UK-based designer and manufacturer of guitar amplifiers and effects pedals.
The invested capital will be used to restructure the company’s shareholder base and support the forthcoming launch of the ID:Series.
Having been in technical development for over two years, the ID:Series is Blackstar’s first programmable guitar amplifier range and represents the first time the company has entered the market with an entry level product accessible to all guitarists.
Keith Pacey, formerly executive chairman and chief executive of Maplin Electronics, is joining the Blackstar board as a
LDC has provided follow-on funding to support portfolio business Kirona Group’s acquisition of Xmbrace, a provider of scheduling software to the UK social housing sector.
The deal represents Cheshire-based Kirona’s first acquisition since LDC invested in the business in November 2011, backing the management team’s focus on organic growth alongside a targeted acquisition strategy.
It is also the third bolt-on for a portfolio company funded by LDC’s North West team this year, following Direct Group’s acquisitions of Circuit UK and Simple Insurance, to sit alongside four new investments in the region in 2012 to date comprising Airline Services, TD
European private equity firm Cinven has sold 10.8 million ordinary shares of Ziggo NV, the largest cable operator in the Netherlands, at a price of EUR23.50 per share, realising EUR255m of gross proceeds.
Following the listing in March 2012 and this sale of shares, Ziggo will have generated total proceeds of EUR569m for the Fourth Cinven Fund and a total money multiple of 2.7x including Cinven’s remaining shareholding in the company.
At close of trading on 30 July 2012, Ziggo ordinary shares were trading at a 34 per cent premium to the issue price. On completion of this transaction, Cinven
TAG Associates, a New York City-based multi-client family office, has appointed Jonathan M. Bergman as a managing director, reporting to the chief executive officer David Basner.
Bergman’s primary responsibilities at TAG will be to serve as portfolio manager to client accounts and conduct investment manager diligence. He will also join the investment committee, which directs firm-wide investment strategy.
Bergman (pictured) comes to TAG from Palisades Hudson Financial Group, where he served as chief investment officer, overseeing strategy and management of client investment portfolios and chairing the investment committee.
Bergman spent the last 15 years at Palisades Hudson, where he helped
Investment manager Babson Capital Management has formed a Chicago-based middle market lending group to provide senior secured financing solutions to middle-market companies.
The addition of the group will enable Babson Capital to offer a full suite of middle-market financing products, complementing the firm’s mezzanine and private equity group, a provider of mezzanine debt and equity co-investments primarily for mergers and acquisitions and leveraged buyouts.
The new team will focus on companies owned by private equity firms or outstanding management teams.
"Babson Capital has a long track record of building strong relationships with the middle-market private equity community, and we are
Total assets under management held by private equity funds worldwide have reached USD3 trillion for the first time, highlighting the sustained growth of the industry despite challenging wider economic conditions, according to research conducted by Preqin for the 2012 Private Equity Performance Monitor.
The figure is calculated using unrealised portfolio value and the dry powder (uncalled capital) available to private equity funds across the whole scope of the asset class.
Industry assets under management increased by nine per cent from December 2010 to December 2011.
Buyout funds account for approximately 40 per cent of the industry’s assets – USD804bn in
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