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KKR & Co is to acquire Prisma Capital Partners, a provider of customised hedge fund solutions. Financial terms for the transaction, which is expected to close in the fourth quarter 2012, have not been disclosed.
Prisma was founded in 2004 by former Goldman Sachs partners Girish Reddy, Thomas Healey and Gavyn Davies, and is focused on maximising returns by investing in the industry’s most talented professionals. Prisma is known for identifying specialist hedge fund managers with exceptional track records and creating custom portfolios for clients. As of 1 April, 2012 Prisma had USD7.8 billion in assets under management, with more
Apax Funds invested EUR2.7 billion during the course of the year and realised EUR2.0 billion, according to the company’s annual report for the year ended 31 December 2011.
Over the past five years the firm’s funds have invested a total of EUR10.3 billion and realised EUR9.8 billion for their investors. Since 1993, the firm has achieved an average return of 2.8x for investors from its buyout investments.
Geographically, in the last couple of years Apax has moved from being a firm that is largely focused on investments in Europe and the US to the one that analyses opportunities on a
Frontier Capital has held the final closing of its third private equity fund, Frontier Fund III, with USD250 million in capital commitments.
The fund exceeded its initial target of USD200 million thanks to strong support from existing investors along with new commitments from other leading institutional investors including public and private pensions, fund of funds and family offices.
“We are thrilled by the continued support we’ve received from our existing partners and very pleased to welcome several strong additions to our investor base,” says Richard Maclean, Managing Partner. “Our success in raising Fund III is a testament to our focused
Private markets are a key part of the global financial investment universe. In terms of the economy as a whole, they are important for ensuring growth, and they offer professional investors a wealth of investment opportunities, according to the Swiss Funds Association (SFA).
These days, the largest investment portfolios are privately placed and held. The redirection of international and asset-class-specific capital flows since the outbreak of the financial crisis has opened up attractive investment opportunities for professional investors in the private markets segment. Supposedly risk-free government bonds or investments in financial institutions increasingly entail higher risks. When it comes to
Evergreen Pacific Partners (Evergreen) has acquired Thermal Dynamics, an Ontario, California-based supplier of advanced technology heat exchangers for the automotive, truck, motorcycles, and military equipment industries.
Evergreen’s acquisition will provide Thermal Dynamics access to significant capital and strategic resources positioning the company for further growth. The Thermal Dynamics’ senior management team will remain in place and work with Evergreen to expand market share and continue the development of new products.
“Through the support of Evergreen’s financial resources and operating backgrounds, as well as their impressive track record of success, we are laying the foundation for our continued success and
Miles Geldard, co-manager of the Jupiter Strategic Reserve Fund comments on the institutional fund’s outlook…
The strong rally in risk assets triggered by the ECB’s massive action to avert a liquidity (and solvency) crisis has run its course. However, when it comes to making progress towards a unified politico-economic solution to the eurozone’s fiscal fracture, Germany’s behaviour is instructive. Rather than throw a lifebelt to a drowning man it insists he takes swimming lessons. In contrast, the IMF, that arch advocate of austerity, has warned Europe that excessively punitive measures are counterproductive to economic growth.
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O’Melveny & Myers LLP is pleased to announce that prominent UK entertainment transactions lawyer Lisbeth “Libby” Savill will be joining O’Melveny & Myers LLP in August as a partner in the Entertainment, Sports and Media Practice. She will be based in O’Melveny’s London office. Savill is the former head of Olswang LLP’s Film and Television team.
“Libby has worked with some of the motion picture industry’s most important and influential players, from major US studios to leading US- and UK-based producers, distributors, and financiers, many of whom already are clients of our firm,” says Joseph Calabrese, chair of O’Melveny’s Entertainment,
AXA Private Equity has raised USD8 billion from its Secondary Fund V and commitments from its early-secondary V and primary funds.
The USD8 billion sum is a significant achievement in light of the tough climate for fundraising. Active in secondaries since 1999, the firm now manages USD19 billion across 800 funds in the portfolio. AXA Private Equity has already committed 40% of AXA Secondary Fund V in several large transactions in the United States and Europe.
The latest fund has attracted major institutional investors from North America, the Middle-East and Asia, primarily pension funds, government agencies, and family offices. AXA
Dallas-based private equity firm glendonTodd Capital has acquired Aztec Systems, Inc, a provider of enterprise technology solutions to hundreds of US middle-market companies. Terms of the transaction have not been disclosed.
As one of the largest providers of managed services in the Southwest, Aztec’s approach focuses on four core practice areas – Microsoft Business Solutions, Data Center Solutions, Infrastructure Solutions and Software Development. Recently ranked 27th in revenue on Bob Scott’s 2012 Top 100 VARS list, Aztec Systems, Inc. (Aztec) is in its 20th year of providing high-impact business solutions to over 700 middle-market clients across the south-central region of
Germany’s private equity investors are currently very cautious about new investments. Deals in the German private equity market are correspondingly rare. Company valuations are too high, while access to external finance remains difficult. However, there are signs that the market could have bottomed out.
Those are the key findings of the private equity panel polled three times a year by CMS Hasche Sigle and FINANCE. The survey covers some 40 private equity firms, with partners being asked anonymously about their assessment of the market.
"The German economy is still in excellent shape despite all the risks. That also applies to
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