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Green Courte Partners, a private equity investment firm targeting niche real estate sectors, has closed its third investment fund, Green Courte Real Estate Partners III, LLC (GCREP III).
This USD406.9 million fund will employ institutional levels of leverage to invest in approximately USD1.2 billion of niche real estate, including land-lease communities and parking assets. GCREP III will continue the strategies of the firm’s first two funds, Green Courte Real Estate Partners, LLC and Green Courte Real Estate Partners II, LLC, which to date have invested in over USD1.1 billion of niche real estate investments.
Green Courte founder Randall K
New Health Capital Partners has closed on New Health Capital Partners Fund I LP, a private equity vehicle focused on investing throughout the capital structure of life sciences companies, including senior secured loans, royalty monetizations, control equity investments and other structured financings.
The New York-based firm received an initial capital commitment of USD150,000,000 from ORIX USA Asset Management (OAM), a global asset management firm.
NHCP seeks to create highly customised investment structures which provide significantly more flexibility to companies than capital traditionally available via the public markets, private equity or pure royalty monetization firms. New Health is uniquely able to
Private equity buyout deal flow has increased over the past year, but it is very much a seller‟s market, Preqin and LexisNexis Enterprise Solutions have found.
A joint study of global private equity buyout firms has revealed that while 49% feel that the number of opportunities has increased over the past 12 months, 68% feel that these opportunities are overpriced.
Funds of vintages 2007 and 2008 account for 22% and 28% respectively of the $391 billion in dry powder available to the private equity buyout industry. As most firms employ a five-year investment period, fund managers are under pressure to
ProVen Health VCT, managed by Beringea LLP, has sold its investment in Onyx Scientific in a transaction that valued the company at GBP4.6m.
Onyx Scientific provides a wide range of chemical services to the life sciences industry. In particular, its key focus is scaling up the synthesis of new chemical entities from micrograms to kilograms for pharmaceutical companies. Onyx specialises in medicinal chemistry, pre-clinical development and GMP scale-up, in addition to offering a comprehensive range of analytical services. ProVen Health VCT invested GBP750,000 in Onyx in June 2007.
Onyx was acquired by ICPA, a market leader in anti-malarial and
The estimated market value of venture capital-financed companies in the US rose 10.1% in 2011’s first quarter from the end of 2010, according to the Dow Jones US Venture Capital Index. The index’s performance topped the Dow Jones US Total Stock Market Index’s total return gain of 6.4% over the same time period.
The return on the Dow Jones US Venture Capital index for the 12-month period ended March 2011 was 32.7%. The largest gains for the quarter and year ended in March 2011 were in software companies.
Venture capitalists invested an estimated USD6.5 billion in 661 deals in
Two Guernsey firms are merging to create the largest independent fund administration business in the island. In the 50:50 deal, described as a merger of equals, Anson Fund Managers Limited and Bordeaux Services (Guernsey) Limited will join forces and trade under the Anson name.
Peter Radford of Bordeaux, who will be Chief Executive Officer of the merged entity, believes that the move will provide critical mass and, importantly, enable the business to remain independent. Anson principal John Le Prevost (pictured above right with Radford) will become a Senior Director and Professor Richard Conder will become the new chairman of Anson
ORIX Venture Finance (OVF), a leading provider of growth capital for growing technology companies nationwide, has appointed Ron Kundich, a seasoned technology and life science finance executive, as a principal in its Silicon Valley office.
Kundich will serve as a senior relationship manager for the western region, working closely with Michael David, who was recently promoted to Co-Head of the division.
OVF’s Palo Alto office targets growing technology companies in Silicon Valley and the Pacific Northwest, which have private equity or venture capital backing. Kundich will support the growing West Coast demand, as well as OVF’s expansion into the
Krokus Private Equity has signed an agreement to acquire 75% of the shares in Termo-Organika Sp. z o.o. Krokus PE has made this investment together with the Management of the Company in buyout from the international construction material group CRH plc.
Termo-Organika is Poland’s leading producer of wide range of housing insulation products made of polystyrene foam. The Company also sells a range of branded complementary products like adhesives, plasters, mortars, paints in its ‘Platinum insulation system’ as well as other products (e.g. XPS). Termo-Organika insulation systems are used for facades, roofs & floors, foundations etc.
The company is the
Investcorp, a global provider and manager of alternative investment products, has acquired Sur La Table, a leading national kitchenware retailer with locations across the United States. The terms of the transaction have not been disclosed.
Sur La Table was acquired from the Behnke family and investment firm Freeman Spogli & Co. who will both remain as investors in the company.
With its headquarters in Seattle, WA, Sur La Table is a multi-channel retailer that sells through 86 stores in the United States, as well as through its catalog, website and gift registry. It offers a broad selection of kitchenware brands
South America is becoming increasingly popular with European private equity-backed companies pursuing buy & build strategies, according to detailed analysis by Silverfleet Capital, in conjunction with mergermarket, of the sector in Q2 2011.
The number and size of add-on deals made outside of Europe, particularly in South America, in the quarter stands out. Given the relatively modest current prospects for economic growth in Europe it is no surprise that European private equity backed companies have decided to acquire in other regions. This trend also illustrates private equity’s ability to support such transactions.
The second quarter of 2011 saw overall volumes
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