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Funds providing private investment capital to companies located largely outside the US earned solid returns during the second quarter, aided by a weakened US dollar that helped to boost foreign currency returns, according to a commentary published by Cambridge Associates.
For the second quarter in a row, private equity and venture capital investments in non-US developed markets bested the performance of similar investments in emerging markets. As in the prior period, both asset classes generated better returns than their public market counterparts.
Cambridge Associates LLC Global ex US Developed Markets Private Equity and Venture Capital Index includes private equity and
JWI Capital, a Cleveland, Ohio based investment firm, has completed a controlling equity investment in Weaver Express Blower Services, an installer and manufacturer of compost-based filter socks and other compost-based products for erosion and sediment control applications.
Weaver’s compost-based filter sock products and services primarily focus on eliminating or minimising sediment run-off from construction sites. Weaver also provides other environmental services such as stream bank restoration, and steep slope stabilisation by utilising "green" bio-engineered technology.
Weaver Express was founded in 2000 by Kevin and Keith Weaver, who have retained an ownership position in the business and will continue to work for
Four Blackstone portfolio companies have signed on to pursue environmental sustainability programs. Equity Office Properties, LXR Luxury Resorts and Hotels, Performance Food Group, and Pinnacle Foods have selected test sites at which to roll-out a host of operational improvements and technology upgrades to reduce energy, water and waste-related costs.
The goal is to roll-out the most effective initiatives from the test sites across each company’s portfolio of facilities and locations, with annual cost savings estimated to exceed 10% of total energy costs. Today’s announcement is part of an ongoing effort by Blackstone to focus on sustainability across the portfolio of
The Aureos Africa Health Fund has invested USD2.75 million in a Kenyan healthcare devices company, Revital Healthcare EPZ Limited (Revital).
Revital is based in Mombasa and specialises in the manufacture of single use auto disable hypodermic syringes (AD Syringes). AD Syringes are a key weapon in reducing the transmission of HIV and other blood-borne diseases as they disable after a single use, guaranteeing that they cannot be reused. Their use is mandated by UNICEF and the World Health Organisation.
In addition to the production of AD Syringes, Revital produces a range of other disposable medical products.
The Africa
Atlante Ventures Mezzogiorno, the Intesa Sanpaolo Group’s venture capital fund, is betting on Italian technological innovation and investing EUR4.6 million in three young companies based in Southern Italy: Pantea, Samares and SpinVector.
The three businesses, selected according to their extensive growth potential and goals of becoming leading companies in the coming years, share some fundamental characteristics: they are high-tech firms and plan to invest in Southern Italy, the part of the country for which the fund was created.
If Admantx, the investment of EUR2 million signed last summer, is also considered, the total investment commitments assumed by Atlante
SES Holdings Ltd (Saxon) has merged its rig business with the business of the Schlumberger Rig Management Group. Under the terms of the transaction, 14 Schlumberger land drilling rigs and crews in Oman, Pakistan, and Venezuela will become part of Saxon’s expanded international operations.
Saxon will also provide technical drilling contracting support to existing Schlumberger joint ventures and operations in Saudi Arabia, Algeria, Iraq, and Venezuela (Lake Maracaibo).
The transaction represents Saxon’s first entry into the Middle East and North Africa region; thereby growing and diversifying the business in key international markets. The transaction not only provides Saxon with increased
Global private equity firm HIG Capital has named Marc Kramer as Managing Director in the firm’s New York office. Kramer, who joined HIG Capital in September, 2011 to invest out of the USD1.5 billion pool of equity capital allocated to HIG’s Middle Market investments, will be responsible for all aspects of the investment process, including origination, transaction structuring, financing, and post-closing portfolio oversight/growth strategies.
Prior to joining HIG, Kramer was a partner at Fenway Partners where he spent nearly ten years investing in the middle market. While at Fenway, he led the firm’s practice in the Transportation/Logistics sector developing investment
Janet Gurwitch has joined tprivate equity firm Castanea Partners as Operating Partner. Gurwitch has over fifteen years of executive experience in the personal care, luxury, and branded consumer products sectors.
Prior to joining Castanea, he was the founder and CEO of Laura Mercier Cosmetics, a leading, global beauty brand. Under Janet’s leadership, Laura Mercier became one of the top five prestige cosmetics brands in the world.
Prior to founding Laura Mercier, Gutwitch was Executive Vice President of Merchandizing at Neiman Marcus Stores, where she set the strategy for and oversaw the entire women’s complex including beauty, ready-to-wear, and accessories. She
RCP Advisors, an independent sponsor of private equity funds-of-funds, secondary funds, and co-investment funds focused on North American lower middle market buyouts, has announced the closing of its first co-investment fund, the USD110 million RCPDirect, LP.
“RCP’s strategy has always been to partner with the best managers in the lower middle market. These relationships will provide RCPDirect with compelling investment opportunities and diligence resources,” says Dave McCoy, Principal of RCP Advisors and RCPDirect’s Portfolio Manager. “We are pleased by the confidence our LPs have placed in us and are excited about the opportunity to expand the co-investment strategy within
Dave Sauvarin has assumed responsibility as managing director of Northern Trusts’s Jersey office. Sauvarin, who was most recently head of Northern Trust’s UK listed real estate administration team in Guernsey, replaces Paul Guilbert, who has been appointed as head of private equity in Guernsey.
In his role, Sauvarin is responsible for managing Northern Trust’s Jersey office, which provides specialist services and expertise for a range of traditional and alternative assets including real estate, private equity, infrastructure funds, hedge and fund of hedge funds administration.
During a 15 year career with Northern Trust, Sauvarin has had broad experience across risk management
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