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Private equity fundraising in the mid-market during 2011 reached EUR14.9bn in 2011 – an increase of around 40% on the previous year, when just EUR10.5bn was raised, according to Acanthus Adviser’s latest annual review of the sector.
The firm’s European Mid-Market Fundraising Review 2012 has identified the top performing regions as France, Benelux and Scandinavia.
2011 also saw a marked return of large-cap funds (funds >EUR1bn) – raising EUR18bn, up from just EUR1bn in 2010 and EUR9bn the previous year, but still well short of the boom years (2007: EUR43bn).
There are still a record number of funds in the
Axel Springer AG and global growth investor General Atlantic LLC have signed an agreement which relates to a future 30 per cent-participation of General Atlantic in Axel Springer Digital Classifieds GmbH, a new company which will hold Axel Springer’s digital classifieds business.
Axel Springer shall contribute the leading French real estate portal SeLoger, the German real estate portal Immonet, and the pan-European job portal StepStone to the new joint venture in a transaction which values the holding at EUR1.25 billion. Once the transaction is completed Axel Springer will hold 70 percent of the equity in Axel Springer Digital Classifieds, which
Main Street Capital Corporation (NYSE: MAIN) has exited investments in two of its portfolio companies. – Drilling Info and Currie Acquisitions.
The company has completed the exit of its debt investment and a portion of its equity investments in Drilling Info, Inc, an information service provider and resource for the oil and gas industry, as part of an equity investment in Drilling Info by a group of leading private equity investment firms focused on the global software, Internet and data-services industries.
Main Street made its initial investment in Drilling Info, which consisted of an USD8.0 million second lien, secured debt
Bertram Capital, a private equity firm headquartered in San Mateo, California, has promoted Ryan Craig to Partner. Craig, previously a Principal at Bertram, has been with the firm since its inception in 2006 and focuses his efforts on executing and monitoring portfolio company investments in the consumer and healthcare sectors.
Craig leads Bertram’s investment in One Distribution, which designs, markets, and distributes the fast-growing Supra footwear and KR3W apparel brands. He also serves as a Director of MEDIBIS, which provides business intelligence software to more than 800 outpatient surgical facilities, and Sanare, a leading provider of care management solutions for diabetics.
Perella Weinberg Partners has appointed Charles "Chuck" Ward as a Partner in the firm’s Advisory business. Based in New York, Ward will work with the Firm’s top clients and prospects around the world.
Ward has more than 30 years of experience in the investment banking industry, having served in senior positions at leading financial institutions for the past two decades. Previously, he was President of Lazard Ltd. ("Lazard") and also served as Chairman of its Asset Management Group. At Lazard, Ward was responsible for building the bank’s business outside of the United States and Europe. He also led its Global
The growing debt crisis in Europe and a strong US dollar heavily impacted global returns on alternative investments during last year’s third quarter.
Private equity and venture capital funds that invest primarily in developed markets outside the US as well as those that target emerging markets each posted a loss for the period. The last time funds of these asset classes in both developed and emerging markets recorded a negative quarter was for the three months ending June 30, 2010, according to Cambridge Associates LLC.
In US dollar terms, the Cambridge Associates LLC Global ex US Developed Markets Private Equity
Hogan Lovells advised AIM listed Abcam plc (Abcam) on its agreement to acquire the entire issued share capital of Epitomics International Inc (Epitomics), for USD170 million in a deal announced on Monday 5 March 2012. Epitomics is based in San Francisco with operations in China.
Abcam, a global leader in the supply of protein research tools, will acquire the antibody business which is focused on the development, production and distribution of rabbit monoclonal antibodies (RabMAbs) for biomedical research and diagnostic applications. The transaction is expected to close by May 2012.
The acquisition is to be funded in cash and stock.
Abacus Finance Group, (Abacus), a New York-based specialty finance company, has acted as Administrative Agent and Sole Lead Arranger for USD16 million in senior cash-flow financing to support the leveraged buyout of Industrial Magnetics, Inc (IMI) by River Associates Investments LLC (River Associates).
Abacus focuses exclusively on providing cash-flow financing for private equity-sponsored, lower-middle market companies. Legal counsel to Abacus was provided by Goulston & Storrs, LLP.
Headquartered in Boyne City, Michigan, IMI is an industry leader in providing permanent magnets and electromagnets for work-holding, lifting, fixturing, conveying and magnetic separation. River Associates Investments LLC, based in Chattanooga, Tennessee, is
Mid-market private equity investor LDC has strengthened its team in the North West with the appointment of Ged Gould as Director.
Gould was previously Finance Director at American Golf, the specialist golfing equipment retailer sold by LDC to Sun European Partners in January earlier this year.
During LDC’s eight-year investment, he was instrumental in doubling sales at the 89-store chain to over GBP100million through a major store rollout programme and the rapid expansion of its online presence.
Gould originally qualified with KPMG, where he spent 10 years in audit and corporate finance advisory before joining private equity
Monomoy Capital Partners, a New York private equity fund focused on value investment and business improvement, has acquired the stock of Raybestos PowerTrain, LLC (Raybestos) from an affiliate of Sun Capital Partners.
Monomoy has combined Raybestos and Steel Parts Manufacturing, Inc (Steel Parts), into a global growing transmission component platform that Monomoy formed in April 2011. Terms of the transaction have not been disclosed.
The combined business will continue to go to market under the Raybestos, Allomatic and Steel Parts brand names.
Raybestos combined with Steel Parts will create a leading supplier to automotive and heavy-duty vehicle customers in both
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