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Vista Equity Partners III, (Vista) has successfully closed Vista Equity Partners Fund IV (VEPF IV) at USD3.5 billion. The initial target of USD2.5 billion was exceeded due to exceptional LP demand. Vista now manages over USD6.6 billion of committed capital in its series of Private Equity Funds.
VEPF IV has already announced the following four acquisitions; Turaz, a divestiture from Thomson Reuters, Vitera, the former Sage Healthcare Division of The Sage Group PLC, CDC Software, a global provider of ERP solutions and Misys, the UK based provider of treasury capital markets and banking solutions.
Robert F Smith, CEO and Chairman
Primary has backed the management buy-out of Leisure Pass Group Ltd (Leisure Pass) in a GBP35 million transaction from its shareholders. The deal represents Primary’s ninth investment from its current Primary III fund.
Leisure Pass, based in London, is the world’s leading provider of smart card-based multi-attraction tourist passes and the associated systems. The passes permit free entry to a large number of selected visitor attractions and are issued with a comprehensive guide book to the destination city. Leisure Pass’ city passes cover three of the largest European tourist cities – London, Paris and Berlin – enabling entry to attractions
Fund services provider Ipes, has achieved AAF 01/06 accreditation in recognition of the quality of its control environment following a six month review by Ernst & Young.
The process involved a comprehensive review of Ipes’ internal controls with a particular focus on their operating effectiveness. Following the review, Ipes achieved two standards – ISAE 3402 and AAF 01/06.
Barry McClay (pictured), Chief Operating Officer, who led the process, says: “Effective and demonstrable internal controls are of growing interest to private equity clients and their investors who are now more aware of operational risk than ever before.
“In selecting an
Private Equity firm Avista Capital Partners is to acquire Top-Co Inc, a privately-held, designer and manufacturer of specialised casing cementing products used in the drilling and completion of oil, natural gas and geothermal wells.
Top-Co serves a diverse global customer base comprised of E&P and national oil companies, multinational service companies and North American and international agents and distributors. Terms of the transaction, which is expected to close in the second quarter of 2012, were not disclosed.
Trevor Turbidy, an Energy Industry Advisor with Avista, says: "We are delighted about our new partnership with Top-Co. With its highly experienced management
Kohlberg Kravis Roberts & Co has formed a partnership with Transparency International, the global anti-corruption non-governmental organisation.
Ken Mehlman (pictured), Head of Public Affairs at KKR, says: “KKR is committed to responsible investing and believes that thoughtful consideration of environmental, social and governance (“ESG”) issues is a critical component of value creation. This global partnership with Transparency International will help us to further enhance our investment and company stewardship processes, specifically in the field of business integrity.
“KKR’s partnership with Transparency International adds to the firm’s network of external partners, including with Business for Social Responsibility (http://www.bsr.org/), in the field
Riverside Partners, a private equity firm focused on investing in middle market healthcare and technology companies, today announced the closing of Riverside Fund V with USD561 million of committed capital.
Riverside Fund V follows the firm’s USD406 million Riverside Fund IV, which was raised in 2009. Riverside Partners was able to secure very significant support from its existing investors. Fund V builds on the firm’s 23-year track record of partnering with founder- and management-owned healthcare and technology companies.
"We are very pleased to have completed our fundraising, achieving our hard cap in six months. We are particularly appreciative of the substantial support from our
HarbourVest Global Private Equity’s net asset value per share was USD11.43 as at the end of April 2012, a USD0.02 per share decrease from 31 March 2012 (USD11.45), following four consecutive monthly increases.
This modest adjustment reflects negative public markets during April, as well as nominal adjustments to the estimated valuations as 31 December 2011 valuations are received from the underlying investments.
At 30 April 2012, HVPE is valuing the Absolute portfolio at USD25.19 per share (including dividends received since closing), which is unchanged from 31 March and a 36% increase over the purchase price of USD18.50 per
EyeTrackShop, an online eye tracking technology developer, has closed its first institutional round of funding of USD3 million with Northzone as lead investor.
EyeTrackShop has rapidly established market presence in the US and Northern Europe as the leading digital platform for ad effectiveness, providing valuable insights into visual performance of advertising and websites. Its unique technology enables the capturing of eye movements from a regular webcam which allows market researchers to conduct online visual effectiveness tests in a fast and inexpensive manner. EyeTrackShop’s fast expanding client base already includes companies like Google, P&G, AOL, Microsoft and JCDeacaux.
As EyeTrackShop extends
Stratus Group’s portfolio company, Senior Solution, has become the first private equity-backed company to list on the BOVESPA MAIS segment – the AIM or NASDAQ equivalent – of the Brazil’s BOVESPA exchange.
Founded in 1996 by Bernardo Gomes and Luciano Camargo, Senior Solution – an IT company which specialises in software provision for financial institutions – received an influential minority investment from Stratus in 2005. The company has approximately 150 clients including the top 10 banks in Brazil. It also counts insurance companies, asset managers and brokerage houses among its clients.
Stratus and BNDES, the Brazilian Development Bank,
Private equity firm Superior Capital Partners has acquired the gourmet desserts division of Heinz North America.
The newly formed entity will be called Dianne’s Fine Desserts and will be led by Michael Knowles as CEO and Daniel Scales as President. This investment represents the twelfth acquisition and the fifth platform company from Superior’s 2008 inaugural fund.
Newly named, Dianne’s Fine Desserts is a leading provider of gourmet frozen thaw and serve desserts to the foodservice industry and in-store bakeries. The purchase includes the brands Dianne’s Fine Desserts and Alden Merrell Fine Desserts in addition to other brands including Black Tie and Skooopz. The
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