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Actis, the pan-emerging market private equity investor has announced the promotion of three Directors to Partner – David Grylls and Nick Luckock in London, and Natalie Kolbe in Johannesburg’
Grylls is a member of the Energy team, responsible for Actis’s current and future African energy investments including Umeme.
Luckock is a member of the Financial Services team, advising a number of portfolio companies including India’s IDFC and Brazil’s XP Investimentos, in addition to leading new investments.
Kolbe covers the South African market, most recently leading Actis’s acquisition of South Africa’s largest vehicle tracking company, Tracker, in October
Tully & Holland has acted as financial advisor to Catalog Marketplace (Glendale), in the sale of its assets to Capital Resource Partners (CRP). BCA Mezzanine Fund provided senior debt and preferred equity capital in support of CRP’s acquisition. Terms of the transaction have not been disclosed.
Glendale is a leading direct marketer of ceremonial uniform accessories and parade equipment worn and used by the military, police and fire departments, schools and organisations. Glendale sells through its catalog and its website www.paradestore.com. Glendale carries a broad selection of uniform accessories, flags and flag accessories, replica rifles, swords, and other related products used
Millennium Technology Value Partners completed a record year of capital deployment in 2011, continuing its focus on investing in many of the world’s leading private technology companies.
Millennium disclosed 18 portfolio companies receiving new or follow-on investment in the last 18 months. These include: Chegg, Twitter, Good Technology, Tumblr, BeachMint, IronPlanet, ETF Securities, Tremor, Acronis, HootSuite, Yodle, MarkLogic, Reply! LegalZoom, Envivio, PlaySpan (acquired by Visa), HauteLook (acquired by Nordstrom), and Ning (acquired by Glam).
Sam Schwerin (pictured), Millennium Managing Partner, says: "Given the burgeoning interest in the kind of shareholder liquidity solutions and flexible financing formats at the core of
AnaCap Financial Partners has held a successful first round of closings of its Credit Opportunities Fund II, with commitments already at GBP265 million (USD408 million), surpassing its GBP250 million target after just five months on the road.
The Fund, which has a hard cap of GBP350 million, targets performing, semi-performing or non-performing consumer and SME debt, including loans, leases, securities or other obligations requiring active asset management.
It will seek to capitalise on the rapidly evolving market opportunity in this space, driven by the need for financial institutions to de-lever after years of expansion. The financial services market now accounts
The Securities and Exchange Commission has obtained an emergency court order to freeze the assets of St Louis-based private investment funds and management firms after suing them and their principal for a scheme to defraud investors.
The SEC alleges that Burton Douglas Morriss diverted more than USD9 million of investors’ money to himself without their knowledge or consent, and he mischaracterised the transfers as ‘loans” in his companies’ books. Morriss misused the money for alimony payments, interest on personal loans, and costly vacations including an African safari.
“Morriss attempted to hide his illegal transfers of investor funds by calling them
European private equity firm Cinven has reached an agreement to acquire CPA Global – a global provider of intellectual property (IP) management services and software – for an undisclosed consideration, from its current shareholders, including Intermediate Capital Group (ICG) and the founder shareholders.
The transaction is subject to the approval of a Scheme of Arrangement in Jersey and regulatory clearances, and is expected to close by the end of the first quarter of 2012.
ICG acquired a significant minority stake in CPA Global in January 2010, investing alongside the Group’s management and founder shareholders (a number of patent attorneys in
Carey Olsen has announced the appointment of two new partners in its Jersey office. Daniel O’Connor and Peter German (pictured) join the busy corporate, finance and investment funds group.
O’Connor joined Carey Olsen in 2008 and specialises in investment funds, private equity and financial services regulation. He has extensive transactional experience of a wide range of investment structures working for both global financial institutions and specialist fund managers. Dan is an active member of several industry consultation and steering groups which develop funds policy and regulation, including his technical work for the Jersey Funds Association.
German has been working at
EQT has decided to domicile future EQT funds onshore in Europe. Potential new jurisdictions include the UK, the Netherlands and Luxembourg, but also other onshore alternatives, for instance Sweden, will be considered. EQT’s funds are currently domiciled in Guernsey.
A number of steps have been taken within the EU to introduce a harmonised framework for the regulation of alternative investment fund managers, such as private equity. The regulatory environment has been clarified significantly and the framework will enable EQT to domicile future funds onshore.
“EQT has grown rapidly during the last couple of years and is now one of the
Private equity firm HIG Capital has appointed Henry Gregson as a managing director in its London office. Prior to joining HIG, Gregson was a Partner at Pamplona Capital, a EUR1.3 billion fund based in London. Before that, he spent several years at the private equity arm of Royal Bank of Scotland, where he led a number of successful transactions.
Gregson says: “I am delighted to join a leading organisation such as HIG, with a unique business model focused on providing deep operational and strategic resources, and a very flexible capital base which enables it to invest both in debt and
Mid-market buy-out firm AAC Capital UK has sold Volution Group to funds advised by TowerBrook Capital Partners LP (TowerBrook). AAC UK generated a money multiple of 2.4x on its original investment of GBP49.25m.
Headquartered in Crawley, Volution supplies a range of ventilation products to improve the built environment with an emphasis on energy efficient solutions. Volution’s largest operation, Vent-Axia, is the UK’s leading branded ventilation business and the UK market leader in energy efficient residential ventilation and heat recovery products.
The group also incorporates the Torin-Sifan OEM fan and blower supplier, the UK’s only manufacturer of low energy motors focussing on ventilation
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