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Hermes GPE LLP (“Hermes GPE”), one of Europe’s leading independent private markets specialists with assets under management of GBP4.8 billion, has announced a revised ownership structure. Hermes Fund Managers Limited and the Hermes GPE management team have acquired the interests in Hermes GPE previously held by a subsidiary of Henderson Group plc (Henderson).
Hermes GPE will continue to operate independently of its institutional partners and its business strategy will remain unchanged.
Alan MacKay, CEO of Hermes GPE, says: “Hermes GPE has one of the most experienced investment teams in international private equity and infrastructure. We recently announced new offices in
An affiliate of Sun European Partners, LLP (Sun European Partners), the European adviser to Sun Capital Partners has made a cash offer to acquire the entire issued and to be issued share capital of Jacques Vert Plc (Jacques Vert), the womenswear clothing retailer. Under the terms of the offer, shareholders would be entitled to receive an offer price of 21.0p in cash per Jacques Vert share, a 68.0% premium to the closing price on 15 December, 2011.
Headquartered in London, UK, and listed on the Alternative Investment Market of the London Stock Exchange, Jacques Vert began trading in 1972
Russia’s accession to the World Trade Organisation (WTO) will spur an increase in mutual Russian-European investment, and European companies should look East to the Russian market for new sources of growth. These were key themes addressed by Kirill Dmitriev, Chief Executive Officer of the Russian Direct Investment Fund (RDIF), in remarks delivered at the EU-Russia Industrialists Roundatable today. The Roundtable was held as part of the EU-Russia Summit in Brussels.
Russia’s expected accession to the WTO will give a sizeable boost to the country’s GDP growth rate, Dmitriev said. He expects industrial production to rise on increased international sales as
Affiliates of Apollo Global Management have signed a definitive agreement to acquire Taminco Group Holdings, the largest independent global producer of alkylamines and their derivatives, from affiliates of CVC Capital Partners for approximately EUR1.1 billion. The acquisition is expected to close in the first half of 2012 and is subject to customary closing conditions.
"We are extremely pleased to announce this acquisition by Apollo,” says Laurent Lenoir, CEO of Taminco. “Apollo has a proven track record of making successful investments in chemical businesses and we are excited about partnering with them to further develop and grow our business. We expect
Ogier London acted as BVI legal adviser to CVC Capital Partners in relation to its GBP900m acquisition of a 51% stake in Virgin Active.
CVC’s investment supports the growth plans of the Virgin Active business in both existing and new geographies, both through targeted acquisitions and a successful club roll out programme.
"This high profile, high value transaction demonstrates the continued suitability and use of BVI entities in the market as joint venture vehicles. It also highlights the calibre of transaction that the Ogier BVI team in London are regularly asked to advise on," says Simon Dinning (pictured) managing
Venture capital fund The Crosslink Seed Fund has completed its 23rd investment of 2011. The USD20 million fund was launched in February 2011 with the objective of providing between USD100,000 and USD500,000 in seed capital to early-stage technology companies.
The Crosslink Seed Fund is a carve-out of the Crosslink Ventures VI Fund and is targeting roughly 20 investments each year in industries that include advertising, e-commerce, SaaS, financial services, gaming, big data, mobile and several others.
“We’re looking for entrepreneurs who are developing solutions to billion dollar problems,” says Eric Chin (pictured), Crosslink Capital partner who stewards the Seed Fund.
First Reserve Corporation is to acquire a diversified portfolio of US contracted natural gas fired power generation plants totalling 1,068 MW (the Power Portfolio) from Arclight Capital. The new entity will be named the FREIF North American Power I.
As part of the agreement, the California Public Employees’ Retirement System will acquire the Neptune Regional Transmission System (Neptune), a 660-MW HVDC transmission line connecting NY Zone K with PJM.
First Reserve’s Energy Infrastructure Fund will take a controlling ownership position in the Power Portfolio, and CalPERS’ investment will result in direct ownership of 75% of the Class C shares
The Ingenious Live VCTs have agreed terms to exit from their respective investments in the Creamfields festival for a total consideration of GBP2.78 million. The Ingenious Live VCTs will also retain a share of further upside over the two years following the completion of the deal in the event that there is a sale of the Creamfields brand for an amount in excess of an agreed exit multiple.
The deal will see The Cream Group’s festival vehicle, CI (Events) Limited, acquire the whole of the share capital of CFDT Limited, a company which was set up by the Ingenious Live
After launching in late-October, middle market private equity firm American Industrial Partners (AIP) has announced the first and final closing of American Industrial Partners Capital Fund V, LP (Fund V) at USD700 million, excluding the GP commitment of USD17.5 million. AIP exceeded its target of USD500 million and closed at its hard cap with broad support from both existing and new investors.
AIP secured commitments from a globally diversified investor base with approximately 15% of total commitments coming from new capital outside of North America. Fund V is composed of leading endowments (30%), insurance companies (26%), fund of funds/gatekeepers (24%),
Southern Cross Venture partners has secured the mandate to run the Australian Government’s first Renewable Energy Venture Capital Fund.
The Australian Private Equity and Venture Capital Association (AVCAL) has commended the Government for moving quickly to establish the AUD200 million fund (AUD100m provided by Government and AUD100m by private investors) since announcing its creation earlier this year as part of the Commonwealth’s clean energy strategy.
AVCAL CEO Dr Katherine Woodthorpe (pictured) says the REVCF mandate recognises the unique role venture capital fund managers play in commercialising Australian innovation, and the expertise that they bring including their ability to attract private
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