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The Cambridge Associates LLC Australia Private Equity and Venture Capital Index (CA Australia Index) rose by 7.85% in 2011, significantly outperforming the S&P/ASX 300 Accumulation Index which fell by 10.98% over the same period. This translated to an outperformance of 18.83% — net of fees — for the 2011 calendar year.
The CA Australia Index outperformed the S&P/ASX 300 Accumulation Index over nearly all time horizons for up to 10 years, according to the latest quarterly report released by the Australian Private Equity and Venture Capital Association Ltd (AVCAL) today.
As of 31 December 2011, the CA Australia Index had
HarbourVest Global Private Equity (HVPE) net asset value (NAV) was up 12 per cent for the year ended 31 January 2012.
At 31 January 2012, HVPE’s NAV was USD944.0 million, or USD11.42 per share, a USD1.18 increase per share over the financial year from 31 January 2011 (USD10.24), continuing its growth trajectory since early 2010.
The increase was driven by realised profits via M&A and IPO exits (USD1.02 per share), value growth in the buyout and venture portfolios (USD0.46), and the repurchase of 300,000 shares (USD0.01). These changes were partially offset by net foreign currency losses (USD0.05 per
Arma Partners acted as exclusive financial adviser to IXcellerate Ltd on its placement of Series A equity.
The International Finance Corporation (IFC), a member of the World Bank Group, is among the institutional investors subscribing to the issue alongside IXcellerate’s co-founders.
Upon completion of all phases, the project cost will total c. USD55 million, most of which will be invested towards the construction and operation of a 6,200 square metre facility in Moscow set on a 15,000 square metre campus. The datacentre will be built over three phases, with the first 1,000 square metres planned to be operational in 2012.
Clairvue Capital Partners has completed investing Clairvue Capital Partners Fund I, a USD200 million fund launched in April, 2010.
According to Jeff Giller, Managing Partner and Chief Investment Officer: “The preponderance of Clairvue I’s capital was invested in real estate vehicle recapitalisations where the proceeds advanced by Clairvue were used to help resolve debt maturity issues and other capital needs. The seven investments in Clairvue I’s portfolio create broad diversification with exposure to assets located throughout the United States and Europe, to office, retail, industrial, hotel and multi-family property types, to vehicles with vintage years from 2004 through 2008, and
The Hong Kong Venture Capital and Private Equity Association (HKVCA) is partnering with Cambridge Associates to provide extensive, independent Asian private equity (PE) and venture capital (VC) performance data to industry participants.
As part of the strategic partnership, HKVCA will give its members access to aggregate Asian PE and VC benchmark data and statistics based on the performance of managers in Greater China. Cambridge Associates, a global provider of independent research and investment advice, derives PE and VC benchmarks from the financial information in its proprietary database of institutional-quality PE and VC funds, one of the largest such data repositories
Jonathan M A Melmed has been appointed as head of Morrison & Foerster’s private equity practice in New York. He was previously a partner with Chadbourne & Park and head of that firm’s Canada practice.
Melmed represents private equity funds and portfolio companies, along with hedge funds, public companies and investment banks in M&A deals and other transactions. He brings particular experience in the alternative energy, infrastructure, media, telecommunications, and life sciences sectors.
Melmed’s clients have included Strategic Value Partners, OMERS Capital Partners, EnerTech Capital, BMO Capital, Morguard and Harbinger Capital Partners.
Melmed follows several other recent corporate partners to MoFo in
Affiliates of GS Capital Partners and P2 Capital Partners, LLC (are to acquire Interline Brands for USD25.50 per share in cash.
The transaction, which has been unanimously approved by Interline’s board of directors, is valued at approximately USD1.1 billion, including the assumption of debt. The price of USD25.50 per share represents a premium of approximately 42% relative to the Company’s closing stock price on 25 May, 2012, the last trading day before the announcement of the transaction, and a 31% premium relative to the Company’s trailing 30-day average closing stock price.
"This agreement provides excellent value to shareholders. This is
Exosun, a company specialising the design, construction and maintenance of ground solar power plants equipped with trackers, has completed a second fundraising operation worth EUR12 million intended to support its growth and strengthen its financial structure.
Omnes Capital (formerly Crédit Agricole Private Equity), which owns a stake in Exosun since 2009, participated in the roundtable alongside new partners: ADEME (French environment and energy management agency), which has undertaken its first investment since it received the mandate to invest directly in cleantech industry firms as part of the French government initiative “Investments for the Future”; Grand Sud Ouest Capital and Aquitaine
NXT Capital has increased its total debt financing capacity to USD1.6 billion and expanded its senior secured revolving credit facility from USD650 million to USD740 million.
Agented by Wells Fargo Bank, NA and affiliates, this facility provides funding for NXT’s middle-market senior secured commercial loan portfolio. The increase in size comprised commitments of USD50 million from Capital One Bank and USD40 million from EverBank Commercial Finance (“EverBank”), who now join Co-Arranger SunTrust Bank, BMO Capital Markets Corp. and Key Corp. in NXT Capital’s bank group. In conjunction with this increase, NXT also received reduced pricing and an extension of the
Teralys Capital has made an investment of CAD65 million in TVM Life Science Ventures VII ("TVM LSV VII" or the "Fund"), which closed on an initial size of CAD150 million. The Fund will focus primarily on early stage drug development and life sciences company opportunities.
The investment by Teralys Capital, together with investments by Eli Lilly and Company (NYSE:LLY; "Lilly") and other partners, enables a new investment model in Québec, which will involve the formation by the Fund of single therapeutic asset companies and benefit the entire local life sciences ecosystem of researchers, entrepreneurs, business partners and service providers.
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