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Pan-Africa private equity firm Emerging Capital Partners has made a US$32 million investment into IHS, a leading telecommunications infrastructure solutions provider.
IHS was founded in 2001 and has grown into one of the leading tower infrastructure companies in Africa. The Company offers an end-to-end suite of telecoms infrastructure solutions and counts blue chip mobile network operators MTN, Airtel and Etisalat among its customers. IHS currently has a footprint in Nigeria, Ghana and South Sudan and plans to open offices in Uganda and Kenya early next year.
Commenting on the announcement, Isaam Darwish, CEO of IHS, says: “We are excited
EMPEA has been selected as a Strategic Data Partner and emerging markets private capital data provider for the Private Capital Research Institute (PCRI) global research initiative, led by Harvard Business School Professor Josh Lerner. The PCRI aims to facilitate high quality academic research on the nature and impact of private capital in the global economy.
Professor Lerner says: "EMPEA is a leading source of global emerging markets data and is also an important partner in building greater understanding about the impact of private equity across markets. We welcome EMPEA’s support of our efforts to create more transparency around private capital
BDO LLP has published the latest results for Q3 from its Private Companies Price Index (PCPI) and Private Equity Price Index (PEPI).
The PCPI has seen price to earnings (P/E) multiples paid by trade buyers for private companies remain steady at 10.6 (Q2:10.8.) Since 2008, multiples have fluctuated between 9.0 and 12.0, but the consistency seen in the last two quarters indicates that private company pricing may be stabilising.
The Private Equity Price Index (PEPI) has increased considerably this quarter from 10.8 to 15.0 influenced by a higher proportion of deals in the technology sector which have commanded higher multiples
Hawksford Group has appointed Grant Osborn-Smith (pictured) as Swiss office manager. In his new role, Osborn-Smith, will be dividing his time between Jersey and Zurich and will be responsible for setting up the processes and procedures for a growing Swiss client base.
Osborn-Smith, 47, who was educated at St Michael’s school before studying at Eton College and Bristol University, began his career as a chartered accountant in Jersey. After moving into the trust sector, where he gained more than 12 years of experience, he then moved to Switzerland to set up a Zurich office for Rawlinson and Hunter. After establishing
The UK’s Business Growth Fund (BGF) has signed a strategic partnership agreement with the Scottish Investment Bank’s (SIB) Scottish Venture Fund to boost availability of equity funding for ambitious Scottish businesses.
The partnership will create significant potential investment opportunities of up to GBP10 million for Scottish businesses with a solid track record and demonstrable strong growth trajectory.
The Scottish Venture Fund was introduced in 2007 to support development of Scotland’s private SME funding market by participating in risk capital fundraisings from GBP2 million to GBP10 million, with up to GBP2 million of investment. In line with other SIB funds, the
JZ Capital Partners Limited, the London listed private equity fund that invests in high quality US and European micro cap companies, has realised its investment in Dantom Systems, Inc (Dantom) for USD40.5 million.
The realisation represents a 4.8x multiple of equity capital invested, and a 27.5% IRR. The price realised was fully recognised in the NAV valuation as at 31 August 2011. As at that date, Dantom represented approximately 6.8% of JZCP’s NAV and was one of the top five holdings in the portfolio, by value.
Dantom is a Michigan based company that provides business process outsourcing solutions to
Forbion Capital Partners, the Dutch life sciences venture capital firm, has led the expansion financing of the Series A round of Curetis AG together with Roche Venture Fund, CD-Venture and management.
Curetis has developed a diagnostics platform to identify the pathogen that causes a patient’s pneumonia and which antibiotic resistance patterns are present within a few hours. It will allow physicians to diagnose the cause of the infection faster and commence the appropriate targeted antibiotic regimen immediately in critically ill patients. The platform is very robust and versatile and can be used for other molecular diagnostics applications as well.
Matrix Private Equity Partners has agreed to sell portfolio company App-DNA Group Limited for USD92 million (c. GBP58 million) to Citrix Systems Inc, subject to final contract.
Total proceeds from the exit will be approximately GBP16.4 million for the Matrix advised fund, The Income & Growth VCT plc. This represents a return of approximately 32 times the fund’s original investment.
App-DNA is a software company whose products enable blue chip customers around the world to save time and money when changing operating systems or virtualising IT applications. App-DNA’s products are in high demand following the launch of Windows
‘The time is now’ for private equity investment in Africa and ‘the continent is ready’ were the messages from the third annual Private Equity in Africa Leadership Summit, co-hosted by the Emerging Markets Private Equity Association (EMPEA and the Financial Times publication, This is Africa.
Over 300 delegates from 30 countries were addressed by speakers including Babatunde Raji Fashola, Governor of Lagos State; Tendai Biti, Minister of Finance, Zimbabwe; pensions representatives from Ghana, Botswana, Kenya, and Nigeria; regulators from South Africa and Brazil, as well as leading African fund managers and global institutional investors. Sharing the sentiment in Governor Fashola’s
Private investment funds advised by Monarch Alternative Capital LP have agreed to invest USD50 million of equity in Veritas Financial.
Mark Sunshine, co-CEO of Veritas Financial, says: "We are extremely pleased to bring our highly experienced team to our new platform, Veritas Financial. Many private and public companies today are facing complex financial challenges that require the expertise of a specialist who can structure lending solutions to meet their needs. Our team has loaned over USD5 billion to companies in a wide variety of industries during the past several economic cycles."
Mike Perlman, co-CEO, says: "We look forward to continuing
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