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Spredfast, a social media management system provider, has raised USD12 million in Series B funding led by InterWest Partners. Also participating in the round is Austin Ventures, the lead investor of the company’s USD3.6 million Series A round.
Spredfast plans to use the funding to expand its industry-leading platform that helps companies better manage engagement and conversion across all major social channels, including Facebook, Twitter, LinkedIn, YouTube, blogs and Foursquare.
"The pace of customer engagement on social channels is picking up for every company. We are helping companies bring more brands, more functions and more geographies onto the social
Carey Olsen has advised Crescent Capital on the establishment of Turkey’s first clean energy fund. The Clean Energy Transition Fund LP, a private equity fund, has raised EUR100m in its first closing this month and is looking to target EUR200m by the end of 2012.
Crescent Capital is a Turkish-based fund manager focused on the clean energy and infrastructure sectors. The fund will target investments in renewable energy generation projects predominantly in Turkey and South Eastern Europe.
Carey Olsen advised on the Guernsey aspects of the transaction with respect to the establishment of the fund as a closed-ended fund and
As the focus of global economic growth rapidly shifts to the East, financial services (FS) mergers and acquisitions (M&A) in Asia are expected to accelerate in late 2011 and 2012, according to a new report from PwC, ‘Emerging Opportunities: Financial Services M&A in Asia 2011’.
A large majority of the 375 Asia-based senior executives that were interviewed for the report are extremely bullish about the prospects for M&A in their market.
Asian financial sector deal values totalled USD27.7bn for the first half of 2011, 40% more than the comparable figure of USD19.8bn for the first six months of 2010.
Maven’s North West deal team has led the management buyout (MBO) of Dantec Hose Limited. The company is one of the leading manufacturers of composite hoses for the global petrochemical industry, and is renowned for product quality, service, technical excellence and innovation.
Maven is backing a proven senior management team, with over 70 years of combined experience in the market.
Composite hoses provide the vital flexible connection for a wide variety of fluid transfer systems, ranging from uploading road, rail and marine tankers within chemical and oil plants, to niche applications such as Formula 1 racing. Manufacturing quality and
UK based European mid-market private equity fund, CapVest Equity Partners II (CapVest), has led the acquisition of RenoNorden Holding AS (RenoNorden) from Norvestor V in partnership with incumbent management and Accent Equity 2008, a leading Nordic mid-market private equity fund. The terms of the transaction have not been disclosed.
RenoNorden is the leading provider of household waste collection services to municipalities in Scandinavia. Headquartered in Frogner in Norway, the Company has strong market positions in Norway, Sweden and Denmark employing over 1,000 people in the region and providing collection services to over 3.5 million inhabitants.
Commenting on the acquisition, Kate
John Redwood (pictured), Chairman of Evercore Pan Asset’s Investment Committee, on the effect of the Euro crisis on world markets…
These are savage markets. As we feared, the markets continue to worry about the Euro crisis. More are concluding that cash or near cash is the best short term answer. Fewer investors want to hold risky assets.
In recent days the market sell-off has become indiscriminate. It is not just the western bank shares, at the eye of the storm, or Euroland shares generally that people are selling. They are now liquidating positions in sounder investments like Asian shares.
Gen II Fund Services, LLC, an independent private equity fund administrator, has expanded its service model into anti money laundering (AML) regulatory compliance.
Private equity funds are not currently required by law to implement AML programs but market forces require them to address the issue. Investors want best practices from their fund managers and demand compliance with AML guidelines. To help firms avoid onerous cost burdens, Gen II will assist its private equity clients in developing and implementing an AML Program, including: Developing and implementing Internal Policies and Procedures necessary to comply with AML regulations; Investor Due Diligence; OFAC Sanctioned Party
Level Equity has announced the final closing of its USD130 million new fund, Level Equity Growth Partners I, LP.
Level Equity’s initial close in Q2 marked the largest new fund raised in the quarter, according to Thomson Reuters and the National Venture Capital Association. Investors in Level Equity are major corporations, university endowments, charitable foundations, funds of funds, individuals and previously-backed entrepreneurs.
"Level Equity is a new firm, purpose-built to support the new generation of promising growth businesses. We founded the firm to provide creative capital to entrepreneurs building innovative technology companies," says co-founder Benjamin Levin. "We were gratified
EFR Holdings SAS, an acquisition vehicle controlled by funds affiliated with Francisco Partners, acquired on 23 September, 2011 a majority of the share capital and voting rights of eFront SA, a business software solutions provider dedicated to the financial industry, listed on the Alternext Paris market of NYSE Euronext (ALEFT).
EFR Holdings SAS has acquired 2,273,793 eFront shares representing 74.19% of the share capital and voting rights of the Company (60.34% on a fully diluted basis) for a cash price of EUR 18.00 per share. The selling shareholders comprised funds managed by CDC Innovation, Odyssée Venture and OTC Asset Management, and the
Global alternative asset manager The Carlyle Group has acquired ITRS Group, a global provider of real-time monitoring systems for the world’s financial institutions, in partnership with its founders and management. Financial terms have not been disclosed.
ITRS is a fast-growing, multi-award winning technology provider, primarily focused on supplying the financial services sector with trading infrastructure monitoring software. The company has over 600 installations worldwide and its clients include 8 of the top 10 global investment banks, and several brokers, exchanges, hedge funds and data vendors. In the year ended March 2011, ITRS generated more than GBP16 million in revenues.
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