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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
The takeover bid for Parseq (AIM: PSQ) by CEO Rami Cassis, backed by Nova Capital Management and Dover Street VII LLP (the close-ended private investment fund controlled by HarbourVest Partners, LLC), has been declared unconditional.
The offer, at 9p per Parseq share, was made via CNH Bidco, a newly-incorporated company formed and controlled by Rami Cassis, Nova and Dover Street. Acceptances from 246,672,233 Parseq Shares, representing approximately 54.13 per cent. of the issued share capital of Parseq, had been received by 1 December 2011.
Parseq provides mobile and online banking software and technology-led outsourcing services to a blue-chip client
Kohlberg Kravis Roberts & Co’s KKR China Growth Fund has entered into a definitive agreement to invest USD60 million into China Outfitters Holdings Limited (China Outfitters), a leading menswear retailer in China. KKR was a cornerstone investor in China Outfitters’ Initial Public Offering.
China Outfitters is a leading and fast-growing menswear design, manufacturing and sales company in China. It offers a wide range of men’s casual wear under several well-known brands locally with foreign origin, including JEEP, Santa Barbara Polo & Racquet Club and London Fog. China Outfitters has built up an extensive sales network comprising more than 1,000 stores
The migration of IT and e-commerce applications to the cloud is creating huge opportunities for UK IT outsourcing companies, according to Investec Growth & Acquisition Finance (Investec). As a result, Investec believes that 2012 may see an increase in the number of IT outsourcing companies that receive investment from private equity firms and specialist lenders such as Investec.
In Investec’s experience, IT services companies use extra investment to increase capacity, maximise security protection and invest in more powerful networking and communications equipment. It is vital for IT services companies to maintain highly reliable and secure systems on behalf of their
Tri-Star Electronics International, a portfolio company of Brockway Moran & Partners, has been acquired by an affiliate of Carlisle Companies Incorporated for USD285 million. The transaction was led by Jon Nemo, Chris Rogers, Chris Smith and Mike Rohman from the firm’s Aerospace, Defense & Government Services (ADG) Group, along with Darwin Olympia from the firm’s Richmond office. Harris Williams & Co acted as the lead advisor to Tri-Star.
“Brockway Moran & Partners and Harris Williams & Co. have a long history of working together and we are excited to represent them in the sale of Tri-Star to Carlisle. Tri-Star is a
NextEnergy Capital, the European Merchant Bank dedicated to the renewable energy sector, has begun fundraising for ix:Africa, a EUR400m/USD550m private equity impact fund dedicated to ethical investment in renewable energy, environmental business and clean technology projects in Africa. At the same time NextEnergy Capital and IDC, the South African development bank, have committed seed capital to launch ix:Africa’s showcase project, a 6.5MW solar energy development in South Africa.
ix:Africa is targeting investors from the US, Europe and, through a subsidiary Rand fund, South Africa. Approximately 80% of the fund will be committed to permitted power generation and infrastructure projects, with the
Some 23% of investors believe private equity has become more attractive in light of recent volatility in financial markets, according to a new report published by Preqin. A further 64% of investors do not view private equity any differently as a result of the current financial climate and 14% find it less attractive.
Many investors feel that private equity has become increasingly attractive as public markets have become more volatile, with some identifying opportunities in times of economic distress and others planning to look to emerging markets for new investments.
More than three-quarters, 76%, of a sample of 300 investors
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