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Maples Fund Services, an independent global fund services provider and a division of MaplesFS, has expanded its European operations with the hire of Steve Lewis, Director of European Business Development.
Based in London, Lewis is responsible for expanding the fund administration and middle-office businesses across the firm’s European offices.
Lewis will work closely with Scott Somerville (pictured), CEO of MaplesFS, and Toni Pinkerton, Global Head of Fund Services, as well as the Regional Heads of Fund Services for Dublin and Luxembourg to execute the firm’s business development and growth strategy.
“We continue to see managers attracted to Dublin, Luxembourg and
High Street Capital has partnered with the TLC Companies’ CEO Tim Coughlin and other members of the management team plus Cohesive Capital Partners, to fund the TLC’s growth plan and provide liquidity for its owners.
High Street Capital will be working closely with the management team to acquire additional clients, expand TLC’s service offering and grow the company through a combination of organic initiatives and add-on acquisitions.
TLC, headquartered in Brooklyn Center, Minnesota, is the nation’s largest provider of outsourced human resource services for the transportation industry. TLC’s service offering includes payroll processing benefits administration, workers compensation and unemployment claims
John Altorelli, Alexander Fraser, Patrick Costello and Gerald Francese have joined DLA Piper’s Corporate and Finance practice as partners in New York.
The group, which joins DLA Piper from Dewey & LeBoeuf, focuses its practice on corporate transactions, including finance, private equity and mergers and acquisitions, representing public and private companies, funds and institutions in a wide range of sectors around the world. Altorelli will also serve as co-chair of the firm’s US Finance practice and as a member of the Executive Committee.
“It’s my pleasure to welcome John and his team to the firm,” says Roger Meltzer, global
Diamonds are emerging as a robust alternative investment asset class, says Fusion Alternatives…
Last week the world’s third-largest mining company, Rio Tinto announced it was considering selling its diamond assets. This comes on the back of a similar announcement made last November by the world’s largest mining company, BHP Billiton. These two announcements essentially place a quarter of the world’s diamond supply on the block for sale.
The intention to sell its diamond assets by these two mining conglomerates is more driven by their attempt to streamline their assets by investing in large long-life mine assets as opposed to
Maven Capital Partners has provided a GBP3m funding package in support of the MBO of Cat Tech International from US environmental services business Clean Harbors Inc.
Operating from offices in UK, Bulgaria, Sweden, China, Singapore and Thailand, Cat Tech is a leading provider of industrial services to oil refineries and petrochemical plants across several major international markets.
The company specialises in servicing equipment containing chemical reaction catalysts and introducing processes to improve catalyst handling operations where the ability to maintain operational efficiency is critical and there is an increasing focus on health and safety issues.
Operating in a sector with
AUA Private Equity Partners, an operationally-focused, lower middle-market private equity firm, has set up shop in New York.
The firm aims to make equity investments in companies in the consumer, media and business services sectors with a particular focus on Hispanic-oriented companies and family-owned businesses located in the United States. AUA Equity will leverage its experience investing in Hispanic-oriented companies and its proven successes in developing and penetrating the US Hispanic market.
The firm is led by Andy Unanue, former COO and current shareholder of Goya Foods, Inc, the largest and most successful Hispanic-owned food company in the United States.
Private Equity firms invested about USD1,886 million across 90 deals during the quarter ended March 2012, according to a study by Venture Intelligence.
The investment amount was almost half that was invested in the same period last year (USD3,614 million across 107 transactions) and represents the third consecutive quarter of deceleration in PE investments in the country. The immediate previous quarter had witnessed USD1,470 million being invested across 120 transactions. There were six reported PE investments worth over USD100 million (and none above USD200 million) during Q1 2012 compared to nine such transactions in the same period last year (which
New York Life Capital Partners, a private equity affiliate of New York Life Investments, has successfully closed of its third mezzanine fund. NYLCAP Mezzanine Partners III, LP held its final close on 30 March, 2012, with total commitments of USD980 million, more than a 20 per cent above its predecessor fund.
"We are very grateful for the show of support we received from investors and are confident that our strategy of investing in the middle market, with longstanding sponsor relationships, will continue to deliver strong results" says Thomas Haubenstricker, CEO of New York Life Capital Partners.
The Fund will maintain
Private equity fundraising has remained relatively steady in the first quarter of the year, Preqin data shows. with current figures expected to increase by around 10-20% as further information becomes available, fundraising levels could come close to matching those seen in the last quarter of 2011.
In addition to the 116 funds that held a final close in the quarter, a further 123 funds held interim closes, securing a combined USD33.7bn towards their fundraising targets.
Funds primarily focusing on North America raised the most capital of those closed during Q1 2012, with 67 funds closing having raised a total of
Royal Bank of Canada is to acquire the 50 per cent stake that it does not already own of the joint venture RBC Dexia Investor Services Limited (RBC Dexia) from Banque Internationale à Luxembourg SA (BIL) (formerly Dexia Banque Internationale à Luxembourg SA) for a total consideration of EUR837.5 million (CAD1.1 billion) in cash. Following the closing of the transaction RBC will own 100 per cent of RBC Dexia.
RBC Dexia is a top 10 global custodian that serves a diverse base of institutional investors through a wide range of advice and services including global custody, fund and pension administration,
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