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Private equity and venture capital funds in the US continued to generate positive returns for their investors during the quarter ending 30 June, 2011 — the ninth consecutive quarter of positive earnings for each asset class.
Both asset classes also closed the door on the first half of 2011 with quarterly and six-month returns that handily bested those of the public equity markets, according to benchmarks on the performance of private equity and venture capital funds published by Cambridge Associates LLC.
Solid second quarter results for private equity and venture capital bolstered their six-month returns and helped overcome a weaker
Freeport, a Carlyle Europe Real Estate portfolio company and a developer and operator of outlet malls in Europe, has completed its successful refinancing with new investment provided by a sovereign wealth fund from the Middle East.
Following the refinancing, it has also created a new entity for Freeport’s property management team, Freeport Retail, to provide specialist outsourced asset management services and is actively working with real estate investors across Europe.
Since its inception, Freeport Retail has already taken over the management of the Ringsted Outlet near Copenhagen, which is owned by TK Development AS and The Miller Group Ltd, and
Mitratech, a specialist in Corporate Legal Automation solutions including Matter Management, e-Billing, and Governance Risk and Compliance automation, has been acquired by Vista Equity Partners (Vista), a private equity firm with USD6 billion in committed capital.
"We are thrilled to be partnering with Mitratech," says Robert F Smith, Vista’s founder and CEO. "Mitratech’s customers derive significant value by investing in Corporate Legal Automation applications and will now benefit from the added stability and operational expertise of our firm. Mitratech holds a commanding position in the industry and we look forward to continuing and evolving the Company’s partnership with its customers."
Many Solar EIS and VCT investments may need to close early after the Government’s decision to cut the FIT rates for solar by up to 55% from 12 December 2011. Financial advisers must be sure that any funds they recommend to their clients are able to invest in solar assets, which are generating electricity under the FIT, by the deadline, warns Oxford Capital Partners.
Oxford Capital is confident that the proposed FIT Review will have a limited impact on its Solar EIS business. It has an exclusive agreement for over 1,000 residential solar installations, three quarters of which are already
Rupert Elwes (pictured), fund manager from J O Hambro Investment Management’s private client business discusses economic expectations over the next few weeks…
We expect to see co-ordinated action by Europe’s politicians and central bankers to recapitalise the fragile banking sector and allow an orderly default by Greece. In addition to this, we could see a reversal of this year’s interest rate rises by the ECB and indeed a form of ‘Quantitative easing’ (QE). Finally, lower commodity prices are starting to reduce inflationary pressures in the BRIC economies and this could lead to easier monetary policy.
Already in the UK, the
Growth equity investor ABS Capital Partners has raised USD500 million for its seventh fund, ABS Capital Partners VII, LP (ABS VII).
With the close of this new fund, ABS Capital continues a 21-year history of successfully investing in and partnering with growth companies as they reach a key expansion stage. ABS VII, which closed on Thursday, October 27, was launched in May of this year and closed USD100 million above the firm’s target. The firm’s previous fund, closed in 2009, was USD420 million.
"Our previous funds have produced strong returns for our Limited Partners (LPs). Those steady exits along with
KPS Capital Partners is to acquire American & Efird, Inc (A&E) from Ruddick Corporation (NYSE: RDK) through a newly-formed affiliate, A&E Global, for USD180.0 million, subject to certain post-closing adjustments.
A&E, headquartered in Mount Holly, North Carolina, is the largest US manufacturer and the world’s second-largest manufacturer and distributor of premium quality industrial sewing thread, embroidery thread and technical textiles. A&E thread is used by producers of apparel, automotive components, home furnishings, medical supplies, footwear and certain industrial products. A&E owns or operates 23 plants and employs 11,000 associates around the world directly or in partnership with joint venture partners.
Alternative Asset Risk Management (AARM) Corporation has launched the AARM-FOIA Family of Private Equity Indices and released an updated AARM-FOIA Global Private Equity (PE) Benchmark for Q1 2011.
AARM-FOIA Global Private Equity (PE) Benchmark© and Family of Indices are the only transparent, frame-able and appropriate private equity benchmarks that follow the best practices of index construction for leading public market indices. AARM-FOIA Global PE Benchmark© and Family of Indices are representative of large sophisticated institutional portfolios and span a broad spectrum of investment strategies, industries, geographies, fund sizes and vintages. AARM-FOIA Global PE Benchmark is freely available to all market
BlackEagle Partners has acquired the Midwest operations of Lyman Lumber Company, including its Chanhassen location, Automated Building Components, Carpentry Contractors Corp., and Lyman Lumber of Wisconsin. The transaction was effective October 28, 2011.
BlackEagle Partners is the owner of US LBM Holdings, a collection of eight building products distributors serving the Midwest, Northeast, and Mid-Atlantic in nine states with more than 40 locations. US LBM is one of the fastest growing suppliers of building products in the United States.
“With over 114 years of commitment to the building products industry, Lyman has established a terrific reputation. All of our business
For the fifth year, the Private Equity Compensation Survey is being conducted to gather benchmarks in venture capital and private equity compensation practices.
The Private Equity Compensation Survey collects data directly from those in the private equity industry and creates a much needed reliable and affordable benchmarking tool for both individuals and for firms looking to set compensation policies.
The online survey makes it easy for investment professionals to directly provide valuable insights into compensation. Time is running out to participate in the survey and eligible participants who complete the survey will receive the final 2012 Private Equity Compensation Report
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