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Jones Day has advised founder Sam Phillips and long-standing client Alcuin Capital Partners on the exit of their investments in Glide Technologies Limited, a leading London-based software-as-a-service provider specialising in corporate communications and reputation management solutions. The company was acquired by NASDAQ OMX Group Inc.
The transaction was led by private equity partner James Goold, with assistance principally from Tom Hussey and Saffron Finch (Corporate), Blaise Marin-Curtoud and Anthony Whall (Tax) and Jessica Billington (Employment).
Goold says: "This has been an extremely busy year for Alcuin and we are glad to have been able to help them with yet another
Northern Trust has appointed Robert P Morgan to lead a new unit, Northern Trust Alternatives Group, formed to develop and manage all alternative investment products, including hedge and private equity funds of funds, for institutional and personal clients.
Northern Trust Alternatives Group brings together portfolio management, product, sales and service teams to build on the private equity and hedge fund solutions that have been part of Northern Trust’s manager-of-managers business. Morgan, who had previously been Director of Private Equity, oversees approximately USD3.5 billion under management or advisory as Managing Director of the new group.
"Alternative investment products have experienced substantial
A study of over 800 venture capital backed companies in Europe has found that independent venture capital is demonstrably more effective than state-backed or corporate VC.
The aim of the VICO project, carried out by a group of business schools and universities from the UK, Belgium, Italy, France, Spain, Germany, Finland and Italy, was to develop an in-depth understanding of how companies backed by venture capital evolve over time and how the diversity in the European VC market has an impact on that development.
The key finding was that, although venture capital invariably has a positive impact on
Cambridge Consultants, creator of a stable of successful high-tech start-ups, is to spin out of Aveillant with venture investment from DFJ Esprit and AIFCL, the wind industry fund.
Aveillant’s technology will remove the concerns about aviation safety and air defence that are holding back growth in the wind energy industry. Wind turbines in motion can mimic aircraft on an air traffic controller’s radar screen. Aveillant will provide airfields with the accurate radar data needed to eliminate the potential confusion this could cause, without any resulting loss or compromise in performance. The need is urgent; currently 66% of all wind farm
Rockbridge Growth Equity, LLC, a Detroit-based private equity firm that invests in financial and business services, consumer-direct marketing, and sports, media and entertainment industries, has led the acquisition of Purchasing Power, LLC, a niche e-commerce business that provides employers a unique benefit to offer their employees: the opportunity to leverage their paycheques to buy "big ticket" consumer goods regardless of credit score.
Founded in 2001, Purchasing Power’s web-based business enables a qualified work force the ability to purchase an assortment of items, such as brand name computers, electronics and other expensive items via direct payroll deduction.
"Purchasing Power is
Following the recent close of its renewable energy EIS fund Elara I, Future Capital Partners (FCP), the GBP6 billion alternative investment boutique, has launched a new EIS fund that will give investors another chance to capitalise on the firm’s green energy strategy.
The new EIS fund, Elara II, targets annual average returns of 7% on a post tax basis and will be adopting a conservative investment strategy focused on lower risk opportunities in the renewable energy sector. Following Elara I Fund’s raise of GBP2 million, the new fund will aim to raise at least GBP4 million, and is expected to
Mattel is to acquire HIT Entertainment for USD680 million in cash from a consortium led by Apax Partners funds.
HIT Entertainment owns a global portfolio of popular preschool brands, including Thomas & Friends®, Barney, Bob the Builder, Fireman Sam and Angelina Ballerina. With more than USD180 million of revenues, HIT Entertainment represents one of the largest independent owners of preschool intellectual property. The purchase price equates to a multiple of about 9½ times trailing earnings before interest, tax, depreciation and amortization.
“Mattel is the right home for Thomas & Friends. This powerhouse brand is joining the ranks of such
CDC Group plc (CDC), the UK’s development finance institution (DFI), has announced a new USD50 million investment in the first-ever equity investment fund to focus on the very poorest parts of India.
CDC is an anchor investor in the Pragati Venture and Incubator Fund (‘Pragati’) and has played a significant role in getting the fund started.
As a growth capital fund, Pragati will invest and play an active role in developing companies across multiple sectors including healthcare, ancillary infrastructure services, ancillary oil and gas services, manufacturing and education. These companies will be at a stage where they require professional management
The Securities and Exchange Commission today announced that Andrew J Bowden has been appointed an Associate Director to lead the National Investment Adviser/Investment Company Examination Program in the SEC’s Office of Compliance Inspections and Examinations (OCIE). He starts on 1 November.
Bowden comes to the SEC from Legg Mason, where he held senior executive positions in its legal/compliance and business units. Bowden will oversee a staff of approximately 450 lawyers, accountants, and examiners responsible for the inspections of U.S.-registered investment advisers and investment companies.
“Drew brings extensive experience in the operation and oversight of investment advisers and investment companies and
Aura Capital, a Finnish venture capital firm, has divested its share in Fromdistance, a device management software company, to the American-based Numara Software. Aura Capital invested in Fromdistance in 2008.
Fromdistance, founded in 2004, is a software company specialised in device management and sophisticated mobile applications for business use. Aura Capital invested in the company in 2008, especially due to its technical excellence and customer-driven innovation in a situation where the market was just about to emerge.
“We are happy to see Fromdistance taking a logical step as part of Numara Software. This further substantiates Aura Capital’s successful
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