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Bayside Credit Partners, the direct-lending arm of Bayside Capital, has provided mezzanine financing to support the acquisition of Ideal Shopping Direct (Ideal Shopping), a leading home shopping retailer in the UK, by Inflexion Private Equity (Inflexion). The acquisition de-lists Ideal Shopping from the Alternative Investment Market of the London Stock Exchange, where its shares had been traded since 2000.
Ideal Shopping sells a broad range of general consumer products (craft, home and leisure, personal care) through four TV shopping channels, the internet and mail-order catalogues. The TV channels broadcast to over 23 million households in the UK, where they operate on all
Golub Capital has completed a USD112 million senior secured credit facility for the refinancing of Au Bon Pain, a portfolio company of LNK Partners. Golub Capital acted as the Sole Bookrunner and Administrative Agent for this financing.
Founded in 1978, Au Bon Pain has grown into an internationally recognised leader in the fast casual restaurant category. The chain’s signature items — breads, pastries, sandwiches, salads, soups, and coffee — are served in welcoming cafe environments, emphasising quick service and hospitality. Au Bon Pain offers consumers a wide array of delicious, nutritional foods, and over the brand’s last three
Lexington Partners (Lexington), the dedicated secondary private equity manager, has announced the final close of Lexington Capital Partners VII, LP (LCP VII) and associated vehicles, with equity commitments totalling USD7.0 billion. The fund, which commenced investing in 2010, received substantial investor interest in excess of its hard cap of USD7.0 billion.
LCP VII will acquire portfolios of private equity partnership interests and co-investments in the global private equity secondary market. LCP VII also has the ability to acquire direct investments in operating companies through secondary market purchases, facilitate the spin-out of established private equity teams from banks and corporations, and invest
Gresham, the UK mid market private equity specialist, has backed the secondary buy-out of Walker Technical Resources (Walker) from Maven Capital Partners.
The buy-out is being made via ICR Integrity Ltd, a newly formed vehicle and group brand under which other businesses in the integrity, corrosion and repair sectors can be acquired.
Gresham’s backing will facilitate growth on a global scale both organically and through a ‘buy and build’ strategy.
Headquartered in Aberdeen, Walker specialises in composite repairs to pipework and structural assets for the oil and gas industry.
It currently employs 45 full-time staff in Aberdeen
In a move to expand the midstream and upstream energy deal-making capabilities of its private equity practice, international law firm Weil, Gotshal & Manges LLP has added Rodney L Moore (pictured) as a partner in the firm. He joins Weil from Vinson & Elkins LLP and will split his time between Weil’s Houston and Dallas offices.
Moore has nearly 25 years of experience representing leading private equity firms and their portfolio companies in formation and transactional matters, and brings extensive experience in representing strategic and financial participants in energy industry transactions. He will be a member and integral part of
GSR Ventures, the early-stage technology venture capital firm, has closed a new USD350 million fund to invest in China. The fund was substantially oversubscribed with more than 80% of the capital from existing investors. This is the firm’s fourth fund. GSR now has more than USD1.0 billion under management.
The demand for the fourth fund reflects GSR’s success investing in early-stage companies in China, home to some of the world’s largest and fastest-growing technology markets. GSR’s investment strategy is validated by a portfolio of world-class technology companies which include Qunar, the leading online travel search engine in China. The portfolio
Chequers Capital (Chequers), the Paris-based private equity firm investing principally in control buyouts of unquoted, leading French mid-market companies, has closed Chequers Capital XVI (the Fund) on EUR850 million.
Chequers Capital XVI exceeded its EUR800 million fundraising target after its exceptional three month fundraise, closing on its hard cap of EUR850 million and considerably oversubscribed. Significant support from existing investors, in line with previous fundraises, combined with the overwhelming interest of new investors, led to oversubscription. Allocation to new investors was limited to select high quality, long-term institutional investors. The hard cap of EUR850m was self-imposed by the Partners of
Better Capital Limited’s BECAP Fund LP (the fund) has acquired certain bank facilities and related rights of DigiPoS Store Solutions Group Limited and its subsidiaries. The investment has been effected through a special purpose vehicle (the SPV) owned and controlled by the fund.
DigiPoS supplies electronic point of sale hardware and software and provides related installation services. It is headquartered in the UK but has subsidiaries serving local markets throughout the world. The audited accounts for the year to 2 March 2010 show that the Group achieved sales of GBP57 million and generated an EBITDA of GBP2 million. The total net assets at that
Middle market private equity investor RJD Partners (RJD) has backed the GBP30 million buyout of Intrinsic Technology Limited (Intrinsic), a provider of IT and unified communications solutions and services, from its founder and majority shareholder, Allan Gauld.
The buyout is being led by its Chief Executive, Mike Mason, an experienced IT and telecommunications executive who was brought into the business towards the end of 2009, together with his operational team. Mike Mason has an excellent management track record, with substantial experience of running a variety of IT and communications businesses of differing sizes, including some much larger than Intrinsic. He
Maitland, the fast-growing multi-jurisdictional wealth and fund services firm, is now offering outsource fund administration to private equity and real estate investment funds. The development follows the rising growth of these funds, particularly private equity, in Africa.
Maitland operates internationally with South Africa as an offshore fund servicing location. Assets under administration exceed USD125 billion.
Veit Schuhen, Maitland COO, says: “We have traditionally offered legal and corporate secretarial services to private equity and real estate funds. By adding administration we can offer an end-to-end service from fund establishment, through transaction support to administration investor servicing.”
The business unit will be
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