Latest News
During the first quarter of 2012, the drop in venture capital (VC) deal activity for European companies was slight compared to the sharp drop in the amount of capital invested over the same period last year, according to Dow Jones VentureSource.
Venture-backed companies based in Europe raised EUR762 million for 241 deals, a 41% decline in capital raised and a 7% decline in deals over the same period in 2011. The first quarter’s deal figure of 241 matches the fourth quarter of last year as the weakest since VentureSource began tracking the region in 2000.
“The difficult fund-raising environment
Mid market private equity firm Palamon Capital Partners has concluded a transaction with Royal Bank of Scotland (RBS), to provide a GBP23 million financing package for its portfolio company, Cambridge Education Group. The deal includes a dividend recapitalisation for equity holders and additional debt financing for continued growth.
Cambridge Education Group is a leading UK provider of pre-University foundation programmes and English language training principally to foreign students keen to attend UK universities. Having identified the growing attractiveness of British education to international students Palamon acquired CEG in 2007 in partnership with a new management team led by Fergus Brownlee.
Since
JP Morgan Private Equity Limited (JPEL) has agreed in principle to terms on a new multi-currency credit facility with a longer maturity date with Lloyds TSB Bank plc.
The new facility will expire in January 2017 and contains similar covenants to the Company’s existing $150 million multi-currency facility which was due to expire in May 2013. Key terms of the proposed facility include:
LIBOR +280bps for a loan to value ratio (LTV) of less than or equal to 10%, with no LIBOR floor
LIBOR +330bps for a LTV ratio of greater than 10%, with no LIBOR floor
"We
Aesica Pharmaceuticals, the pharmaceutical contract manufacturer backed by Silverfleet Capital, the European private equity firm, has appointed David Greensmith as non-executive chairman.
David has highly relevant experience from operating in the chemical and pharmaceutical markets, as well as through holding a number of private equity backed non-executive chairmanship positions. David’s previous executive roles include managing director of Fujifilm Imaging Colorants and COO of Avecia Group.
David’s appointment comes on the back of news that Aesica chief executive Robert Hardy has been named CEO of the Year for the North East region in the BVCA (British Venture Capital Association) Management Team
During a meeting held as part of the China-Russia Investment and Trade Forum, First Deputy Prime Minister of Russia Igor Shuvalov and Executive Vice-Premier of the State Council of China Li Keqiang announced the dates to create the Russia-China Investment Fund and outlined the sectors earmarked for the first investments.
"By creating the Russia-China Investment Fund, the RDIF and China Investment Corporation will once again highlight the strong results of economic cooperation between Russia and China," Kirill Dmitriev (pictured), CEO of the Russian Direct Investment Fund (RDIF), said during the meeting between Igor Shuvalov and Li Keqiang. "The Fund’s capital
Jersey will be well positioned to grow its alternative funds business when the Alternative Investment Fund Managers Directive comes into place, according to expert speakers at a conference organised by Jersey Finance in London last week.
An audience of almost 300 fund professionals at Jersey Finance’s London Funds Conference, held at the British Museum last week (18 April), heard that Jersey is in a good position not only to meet stringent international regulations but also to grow its funds business.
The conference featured a heavyweight line-up of finance and legal professionals, with keynote presentations by David Smith, Economics Editor at
PineBridge Investments, the global multi-asset class investment manager, has successfully closed its latest collateralised loan obligation (CLO), Galaxy XII CLO, Ltd.
The issuance was comprised of approximately USD412.5 million of notes and closed on 24 April, 2012. The notes are secured by broadly syndicated first-lien senior secured corporate loans and other corporate notes and bonds, and the entire offering was fully or over-subscribed.
This is the fifteenth CLO that PineBridge has brought to market, taking the firm’s total leveraged finance assets under management to USD7.8 billion.
“The closing of Galaxy XII marks another successful investment and asset raise for PineBridge,
BDO’s Private Companies Price Index (PCPI) has seen price/earnings (p/e) multiples paid by trade buyers for private companies fall from an average multiple of 12.1 in Q4 2011 to 11.5 in Q1 2012, but is up from an average multiple of 9.0 seen in Q1 2011.
The number of trade acquisitions fell from 461 in Q4 2011 to 442 in Q1 2012.
Peter Hemington (pictured), M&A Partner, BDO, says: “This quarter has seen both multiples and volumes fall. One could attribute this to a level of hesitation ahead of the Budget, and a lack of confidence in the market. Buyers
Ingenious has successfully closed the fund raising for ten Ingenious Solar UK EIS companies. The fund raise exceeded its target and the majority of the aggregate funds raised have now been deployed.
Each Ingenious Solar UK EIS company has acquired a portfolio of solar photovoltaic panels which are fitted on residential properties and are already generating electricity and eligible to receive Government backed Feed-in-Tariff payments. The cumulative investment across these ten companies has funded the purchase of more than 2,000 solar installations.
Ingenious Solar UK EIS exceeded its target raise by a significant margin of 27 per cent, an excellent
Bangalore-based affordable medical technology and solutions company Forus Health Pvt Ltd (Forus) has successfully raised Series A funding of USD5 million from venture capital funds, Accel Partners and IDG Ventures India. Unitus Capital was the sole advisor to Forus for the transaction.
Forus’ mission is to address the healthcare delivery issues in the developing world through innovative and inclusive product design, and service deployment. Its flagship product 3nethra: a portable, low cost, non-mydriatic, non-invasive pre-screening ophthalmology solution, can detect cataracts, glaucoma, diabetic retina, refraction and cornea problems – diseases that contribute to 90% of avoidable blindness in India. 3nethra can
Special Reports
Featured
Events
12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
