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Veracity Payment Solutions has secured an USD80m commitment from Boston-based Great Hill Partners, a private equity firm that manages over USD2.5 billion in capital.
While a portion of the committed funds was used to buyout an existing investor, the vast majority will be used to fund Veracity’s US and European acquisition strategy. Great Hill was the sole investor in the all equity transaction, with Veracity’s founders, current management team and GTX Partners retaining a significant ownership position.
Founded in late 2007 by Joe Cohane, Stephanie Sharp and Grant Putre, Veracity provides credit card, debit card and ACH processing solutions primarily
All eyes will be on former UK Chancellor of the Exchequer Norman Lamont (pictured) and Economics Editor and Broadcaster Stephanie Flanders as they debate the future of the financial markets at the Guernsey Funds Forum 2012.
The event, titled ‘Shaken not stirred’, will be held at the Grange St Paul’s Hotel in London on Wednesday 2 May. It will comprise three sessions, culminating in a keynote debate featuring Lord Lamont and Stephanie Flanders where the audience will have the opportunity to cross-examine the pair in a ‘Question Time’ format. The debate and the preceding panel sessions will all be moderated
Bertrand Meunier joins CVC Capital Partners (CVC) as a Managing Partner and member of the PE Board with immediate effect. He will be based in London where he will have global responsibilities including leading the newly formed global consumer goods sector and overseeing the development of the firm in France.
Meunier was Chairman of the Partner Committee and Head of the sector teams at PAI Partners. He joined PAI in 1982 formerly part of BNP Paribas and for 11 years led investments in Information Technology and Telecommunications, before turning to the Consumer Goods, Retail and Services sector which he led
HgCapital, the leading European sector-focused private equity investor, has promoted Kai Romberg to partner. The move recognises Romberg’s strong performance, delivered since he joined HgCapital in 2004 as an Associate.
Romberg has played an important role in many value-creating investments including SiTel, Addison, Visma, CSG, Achilles (which won the Fast Track Private Equity Deal of the Year Award in 2011), Lumesse, TeamSystem and Teufel.
In addition, HgCapital announces the following recent appointments of Associates across the TMT, Healthcare, Industrials, Renewable Energy and Portfolio Management teams:
Hector Guinness – TMT team. Hector comes to us having spent three years working at Bain
Morgan Stanley Global Private Equity has formed a strategic partnership with OSF Merchant Banking to pursue investment opportunities in Brazil. Based in São Paulo, OSF is a fund manager that offers international and local qualified investors customized alternative investment advice.
“Brazil has entered a cycle of abundant opportunity and unprecedented capital flow. Private equity firms are now presented with the challenge of identifying and structuring investments in a very competitive environment that does not typically rely on leverage as a fundamental piece in transaction finance,” says Hans J Apostel, a founding partner of OSF and head of its investment committee.
GSO Capital Partners, the credit division of Blackstone (NYSE: BX), has announced the final closing of its second mezzanine fund, GSO Capital Opportunities Fund II, with total commitments of USD4 billion, making it among the world’s largest mezzanine funds and the largest mezzanine fund to be raised following the financial crisis of 2008.
GSO will invest the Fund across a broad range of sectors and geographies, with a particular focus on the US and Europe.
The fund’s size and scale allows it to focus on the underserved upper middle market, while its flexible structure enables GSO to be creative in
Cancer Research Technology, Cancer Research UK’s commercial arm, and the European Investment Fund (EIF), have joined together to create a GBP50 million investment fund to bridge the funding gap in the UK between cancer drug discovery and early development.
The CRT Pioneer Fund will seamlessly take potential cancer drugs from discovery through to entry to Phase II clinical trials. It is a bold step to fund the most innovative oncology research and to plug a large gap in the UK funding of drug discovery.
CRT and the EIF will make equal contributions to the CRT Pioneer Fund. The fund has
French banks’ valuations are being weighed down by uncertainties over the French presidential election, says Yannick Naud (pictured), French Portfolio Manager at Glendevon King Asset Management in London…
If Hollande is elected, his proposed measures on tightening banking regulations would push up costs and reduce earnings, by as much as 12 per cent according to recent analyst estimations. On top of that, banks will face significantly higher taxes from both Hollande and Sarkozy.
French citizens working in the financial services sector in London are generally in despair at the banking policies proposed by both Hollande and Sarkozy. Many see
The Irish Minister for Finance has approved, in principle, the development of legislation for a new corporate structure for funds which is intended to meet US ‘check the box’ requirements and reduce administrative costs.
This step is consistent with the Irish government’s on-going commitment to the continued development of the funds industry in Ireland.
According to Mark White, a partner with law firm McCann Fitzgerald, it is expected that the new legislation will introduce a market-leading corporate structure that combines the high standards of governance, transparency and investor protection that one expects of an Irish authorised fund with the characteristics
JP Morgan Worldwide Securities Services has launched Alternative Investment Reporting, a new interactive portal enabling alternative asset managers across Hedge Fund, Private Equity and Real Estate strategies to view, analyse and extract their fund administration data from dashboards, workflow tools and reports.
This is the latest addition to JP Morgan ACCESS, the firm’s web-based platform for multiple information, compliance and portfolio management applications.
This new technology facilitates consolidation of data and generation of reports across alternatives products via a single reporting platform irrespective of fund structure. In addition to the reporting capabilities, the portal includes a comprehensive workflow module
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