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Global alternative asset manager The Carlyle Group has received a binding irrevocable offer from Glory Ltd to purchase Talaris for an enterprise value of GBP650m.
Talaris is a global provider of cash handling equipment, servicing and software solutions and Glory is a manufacturer of money handling systems. Following consultation with the French works council, if the offer is accepted, the contemplated transaction will be subject to regulatory approvals.
Carlyle Europe Partners III, LP acquired De La Rue Cash Systems from De La Rue plc in September 2008 for GBP360m, rebranding the company “Talaris”, and focusing on the growth of
HarbourVest Global Private Equity’s estimated Net Asset Value per share stood at USD11.42 as at 31 January 2012, a 0.7% increase from 31 December 2011 (USD11.34) and an 11.5% increase for the financial year ended 31 January 2012.
January’s NAV increase resulted primarily from increases in the value of publicly-traded holdings to 31 January 2012 (approximately USD0.08 per share) as the MSCI World Index (USD) increased 5.7%; and positive foreign currency movement (USD0.02 per share) as the euro appreciated 0.9% against the US dollar. The value of the majority of HVPE’s privately-held companies continues to reflect the investment manager’s preliminary
Conference and training venue provider etc.venues, backed by Dunedin, is planning to open a 20,000 square foot conference and meeting venue in St Paul’s, London.
The new venue in a landmark City building at 200 Aldersgate will include the largest conference suite in the etc.venues portfolio, which will hold 400 delegates theatre style, or 250 in cabaret set-up.
Since Dunedin backed the buyout of etc.venues in 2006, sales have grown by 94 per cent and the number of venues has increased from six to eleven.
Nicol Fraser, partner at Dunedin who is on the board of etc.venues, says:
The Australian Private Equity & Venture Capital Association (AVCAL) has appointed David Brown as the new Chair of the governing Council.
Brown, who has been a Member of the Council for the past three and a half years, formally takes over the role at the next Council meeting on 16 February.
AVCAL CEO Dr Katherine Woodthorpe (pictured) says Brown’s long background in funds management and private equity as an investor reflects the diverse range of stakeholders across the industry.
Edinburgh Research and Innovation (ERI), the University of Edinburgh’s technology transfer office, has announced a strategic alliance with MTI, the London-based venture capital fund manager which secures a GBP150 million injection to university spin out activity.
Companies working through ERI, or the technology transfer offices at the University of Manchester and University College London, can access the Orion Fund, a significant venture capital fund, raised and managed by MTI.
The Orion Fund will invest primarily into companies and commercialisation projects emerging from the three universities.
It is the technology base of the University of Edinburgh and the companies formed around that
EDG Partners, a private equity firm focused exclusively on the healthcare industry, has closed its second fund, EDG Partners Fund II, LP. The fund closed above target at USD177.75 million.
The new fund brings the total capital managed by EDG Partners to over USD260 million. Touchstone Group, LLC provided fundraising support to the firm.
EDG Partners, with offices near Atlanta and Washington, DC, is a private equity firm that provides capital, expertise, and relationships to enable small and middle market healthcare companies to achieve their potential.
Gaffney one of the founders of EDG Partners, says: "We are pleased to announce
The transaction team of C H Reynolds Corporate Finance, under the leadership of Stefan Constantin, Partner, and Robert Kraska, Director, successfully advised HeidelbergCapital on the sale of its stake in Framas Kunststofftechnik GmbH.
Framas develops and manufactures high-tech soles and plastic components primarily for the sport shoe market. Main customers include Adidas and Nike as well as further leading global shoe manufacturers. With its 3,300 employees, the group generates revenues of over USD150 million. Since investing in Framas in 2008, HeidelbergCapital had actively supported the company’s worldwide expansion, including the establishment of development centres in South Korea and Germany.
The
Returns on investments in US private equity and venture capital funds were negative for the three-month period ending 30 September, 2011, marking the end of a series of nine consecutive quarters of positive performance for both alternative asset classes.
The downward turn was due in part to the escalating debt crisis in Europe, which helped cause an even sharper drop in the public markets during the period, according to Cambridge Associates LLC.
Venture capital outperformed private equity for the second quarter in a row, falling 0.7% versus a drop of 4.3% for private equity in the quarter, according to Cambridge
International legal practice Norton Rose LLP has advised its client Duet Private Equity on the acquisition of a controlling interest in Dashen Brewery, Ethiopia’s largest independent brewer. The value of the acquisition is USD90 million, making it the largest private equity investment in to Ethiopia to date.
The investment will be used to increase the capacity at Dashen’s existing site in Gondar, Ethiopia and develop new production facilities in Addis Ababa. Last year, leading brewers Heineken and Diageo acquired the other two leading brewers in Ethiopia in transactions worth an aggregate US$400 million.
Duet’s investment and partnership with Dashen will
Apex Fund Services has launched Apex Funds 247, an online reporting solution for both investors and investment managers that provides greater portfolio transparency and performance attribution analysis.
Apex Funds 247 enables investors to quickly and easily access investment manager information via an online dashboard. As well as over 80 regular reports available a large number of dynamic reports which users can create themselves can be generated by Apex Funds 247.
One of the key benefits Apex Funds 247 provides is that it nurtures closer collaboration between managers and investors. To protect sensitive data separate reporting logins exist between the
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