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Leeds Equity Partners, LLC, the New York-based private equity fund focused exclusively on investing in the Knowledge Industries, has appointed Stephen Fredette, former Chief Executive Officer of Assessment Technology Institute as an operating partner. In this role, Fredette will provide management and operating expertise to Leeds Equity’s portfolio companies and will help the firm identify and evaluate new investment opportunities in the education and training sectors.
Fredette has over 20 years of experience building, operating and growing education and training companies. Most recently, Fredette served as CEO of Assessment Technology Institute, a private equity owned nursing education company. Under his
Advanced Accelerator Applications (AAA), an international leader in diagnostic nuclear medicine, has completed a capital increase of EUR40 million, which will help fund expansion plans and finance clinical trials of its promising portfolio of Radio Metabolic Therapy and diagnostic products.
The fundraising was subscribed by existing and new shareholders, including private investors and pharmaceutical companies. New shareholders include the leading Italian biopharmaceutical company Dompé, which has acquired a 7.7% stake in AAA. Eugenio Aringhieri, CEO of Dompé Group, was elected by AAA shareholders on June 28, 2011 to the company’s Board.
Following the capital increase, the number of
Environmental sustainability is an important priority with private equity and corporate senior executives, according to a recent poll conducted by PwC US. The poll, conducted during PwC’s "Private Equity and Environmental Sustainability" Webcast, found that 88 per cent of the 175 participants believe sustainability will become a more important factor in business decisions and investments in the next two years.
A further 22 per cent responded that they are in the early stages of developing a sustainability strategy for their organisations.
Several factors were cited by participants as the leading drivers for sustainability at their respective organisations, with profit opportunity
Earvin "Magic" Johnson, Hall of Fame NBA star, philanthropist and entrepreneur, is to join Detroit Venture Partners (DVP) as a general partner. DVP is a Detroit-based venture capital firm that invests in seed and early-stage technology companies primarily located in the heart of downtown Detroit. Johnson will also be investing millions of dollars into the fund.
Launched in 2010 by entrepreneurs Josh Linkner, Founder & Chairman of ePrize; Dan Gilbert, Founder & Chairman of Quicken Loans and Majority Owner of the NBA’s Cleveland Cavaliers; and Brian Hermelin, Founder & Chairman of the private equity firm Rockbridge Growth Equity, Detroit
Carey Olsen has appointed Michael McAuley as a new counsel to its litigation department in Guernsey. Born in Canada and educated there, in England and in France, McAuley’s recent offshore trust experience includes seven years at Appleby in Bermuda where he practised in all areas of contentious and non-contentious trust and pensions law.
McAuley is an internationally renowned lecturer and author on the offshore trust industry.
Carey Olsen’s head of litigation and managing partner John Greenfield, says: “We are very excited about Michael’s arrival and I am pleased that he has chosen to join Carey Olsen as the next step in
Berkshire Partners LLC, the Boston-based investment firm, today announced the closing of the firm’s eighth private equity investment fund, Berkshire Fund VIII. The fund has total equity commitments of USD4.5 billion.
Fund VIII’s capital was subscribed primarily by institutional investors in previous Berkshire funds. Investors include many of the world’s largest endowments, foundations, pension funds, insurance companies and sovereign wealth funds. As with its previous funds, the firm engaged no intermediary to assist in fundraising. Berkshire seeks to invest in middle market growth companies in partnership with talented management teams. Fund VIII’s portfolio is expected to consist of companies with acquisition
International private equity firm BC Partners has signed an agreement to acquire Com Hem, Sweden’s leading TV, broadband and telephony company, from The Carlyle Group (Carlyle) and Providence Equity Partners (Providence). Financial terms of the transaction are not disclosed.
Headquartered in Stockholm, Com Hem has grown to become Sweden’s largest distributor of TV services, with approximately 40 per cent of Sweden’s households connected to their network. In addition, the company has a significant and growing mix of digital TV, broadband and telephony services.
"We are delighted to be backing a strong management team at Sweden’s leading cable TV operator
Golub Capital BDC, Inc, a business development company (NASDAQ: GBDC, has closed a new USD75 million senior secured revolving credit facility through Golub Capital BDC Funding LLC, as borrower and a wholly owned subsidiary of Golub Capital BDC, Inc.
"This new multi-year credit facility nicely complements Golub Capital BDC, Inc’s other two sources of long-term, low-cost, highly flexible debt–our securitisation facility created last summer and our small business investment company," commented David B Golub (pictured), Chief Executive Officer of Golub Capital BDC, Inc.
Private equity firm Craton Equity Partners has led the Gazelle’s USD22 million series D round of financing. Gazelle’s current investors, Physic Ventures (www.physicventures.com), Venrock Associates (www.venrock.com) and RockPort Capital (www.rockportcap.com) also participated in this financing.
In 2010, Gazelle’s business continued to soar, achieving a 155% year-over-year growth in revenues as the company has attracted more than 175,000 Customers to trade in or recycle used electronics. Fuelled by its largest financing to date, Gazelle is focused on rapidly accelerating its plans to market its service to mass media. The new funding also enables Gazelle to make additional investments in key areas
Ashurst LLP advised Committed Advisors on the closing of its debut fund, Committed Advisors Secondary Fund I (the Fund), with EUR257 million of commitments.
Investors include endowments, family offices, financial institutions and sophisticated high net worth individuals.
The fund is dedicated to acquiring mature private equity assets in North America, Europe and Asia in the small and mid-sized segments of the private equity secondary market, ranging from EUR1 million to EUR75 million in size. Its primary focus is on buy-out and growth equity assets, yet it retains the ability to address opportunities in the distressed, turnaround, venture capital and sector-specific
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