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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
New York private equity firm Castle Harlan, Inc, has promoted Anand T Philip (pictured) to Managing Director, while Joyce M Demonteverde has joined the firm as Vice President. Demonteverde had previously been with Castle Harlan, Inc prior to going to the Harvard Business School.
Castle Harlan believes that Philip’s promotion and Demonteverde’s return will strengthen the firm’ capabilities in identifying and aggressively pursuing new investment opportunities and will enhance the firm’s work with existing portfolio companies.
John K Castle (pictured), Chairman and Chief Executive of the firm, says, "Anand Philip is an extraordinarily talented and hard-working professional. He has earned
Nearbuy Systems has secured a USD1 million round of financing led by Motorola Solutions Venture Capital, Eric Schmidt’s Innovation Endeavors, and Metamorphic Ventures. The funding will be used to accelerate the development and deployment of Nearbuy System’s software into major retail stores.
With what is often described as the "holy grail" of in-store marketing — knowing a shopper’s precise location within the store — Nearbuy Systems allows retailers to bring their product promotions to the shopper where it makes the most sense and where most purchase decisions are already being made, within the aisle of the store. For years now,
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