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Venture capital firm Accel Partners has led a USD50m minority investment in YapStone, a provider of Electronic Payments as a Service (ePaaS) for property management and other vertical market segments.
The new capital will be used to support the Company’s rapid growth, specifically for continued investment in its core technology platform to serve current and new vertical markets. The capital will also be used to support international expansion and fund opportunistic acquisitions. Financial Technology Partners LP and FTP Securities LLC (together "FT Partners") served as exclusive strategic and financial advisor to YapStone and its Board of Directors in this transaction.
AXA Private Equity has signed a Sale and Purchase Agreement with Citigroup (NYSE: C) for the acquisition of a USD1.7 billion portfolio of limited partnership interests in private equity buyout funds and a portfolio of direct stakes in companies. This deal represents one of the largest ever secondary private equity transactions and confirms AXA Private Equity’s world leadership in secondary Funds of Funds.
The portfolio sold by Citi Holdings comprises 207 limited partnership interests in mostly buyout and a number of investments that were made directly into certain companies. The portfolio was funded by Citigroup proprietary capital and does not
Unigestion, a leading privately owned asset manager with EUR 8.1 billion (USD 11.5 billion) of assets under management, announces the final closing of the Unigestion Secondary Opportunity Fund II at EUR 190 million, above its original target of EUR150 million, and the first closing in June of the Unigestion – Ethos Environmental Sustainability Fund.
Unigestion Secondary Opportunity II, which is already well over 50% invested, takes advantage of a window of opportunity created in 2009 to acquire private equity assets below their intrinsic value. It targets small and mid-sized transactions in the EUR 3 to 20 million range, which are
SL Capital Partners (“SL Capital”) has promoted Graeme Dunbar’s to Investment Director within the SL Capital investment team in Edinburgh.
In his new role, Dunbar will be responsible for the SL Capital investment teams primary fund investments, secondary investments and direct co-investments, with a particular focus on the Nordic Region.
Commenting on the promotion, David Currie (pictured), Chief Executive, SL Capital, says: “Amid an uncertain economic environment, 2011 is on course to be another strong year for SL Capital Partners and its investors as new investment activity levels remain high and we are seeing a significant improvement in performance and
Profit Recovery Partners (PRP) Executive Vice President Bill Carpou is departing the firm to accept a position with RGIS, a private equity-owned firm.
During his time at PRP, Carpou led the Sales Division and the expansion into new target markets inside the PRP portfolio. Prior to joining PRP, Carpou was with IKON Office Solutions for 18 years.
"Bill has been a great help in building a strong foundation for PRP to meet its future growth goals, and has helped position our company as an industry leader with unparalleled services to our clients. We appreciate the many contributions Bill has made
Northern Digital Inc (NDI), a portfolio company of Audax Group (Audax),has been sold to strategic buyer Roper Industries, Inc. (Roper;NYSE:ROP). The transaction closed on June 3, 2011. Harris Williams & Co. acted as an advisor to NDI. The transaction was led by Turner Bredrup, Todd Morris, Cheairs Porter, Andy Dixon, and Andrew Hewlett of the firm’s Healthcare & Life Sciences (HCLS) Group.
“NDI is a wonderful company with a 30-year track record of developing and producing outstanding devices to serve the global image guided surgery and other attractive life science and industrial markets. CIVCO Medical Instruments, a Roper subsidiary,
Deloitte, the business advisory firm, is pleased to announce the promotion of eleven partners across its Corporate Finance practice.
Timothy Mahapatra, Managing Director of Corporate Finance for Deloitte, says: “I am delighted to announce the promotion of such a talented team of individuals to senior roles within the Corporate Finance practice at Deloitte. Market conditions have lead to a challenging few years, but the Corporate Finance practice has continued to grow and we continue to see many new opportunities for our business.
“These promotions demonstrate our continued commitment to invest in talent of the highest calibre to provide
Monroe Capital today announced the funding of a USD23 million unitranche facility to The O’Gara Group. Monroe Capital’s facility was used to refinance existing debt and provide ongoing working capital.
The O’Gara Group, headquartered in Cincinnati, Ohio, provides a diverse portfolio of security, safety and defense products and services to global corporations, government organisations and individuals, including the U.S. military and intelligence community, the UK Ministry of Defence, Italian Ministry of Defence, law enforcement, state and municipal governments. Organised into three distinct divisions: Training and Services; Sensor Systems; and, Mobile Systems, The O’Gara Group’s activities are focused on delivering specialised
A consortium comprising F2i – Fondi Italiani per le Infrastrutture SGR SpA – and AXA Private Equity, has signed an agreement to purchase Italian gas distributor G6 Rete Gas SpA, a wholly-owned subsidiary of GDF Suez Energia Italia SpA. The enterprise value of the deal is EUR772 million and is funded by a committed line of credit provided by Banca IMI and Unicredit.
Following its investment in Enel Rete Gas S.p.A. (September 2009) and its recent acquisition of E.On Rete srl (April 2011), this transaction expands the consortium’s footprint in reaffirming its position as the main independent operator in the
Research In Motion has acquired Scoreloop AG, a leading independent platform for mobile social gaming.
"As part of RIM, Scoreloop will be in the unique position to integrate deeply at the operating system level and leverage their entire ecosystem across the board,“ says Olaf Jacobi, Partner at Target Partners.
Roland Manger, Managing Partner at Earlybird Venture Capital, says: "Scoreloop and RIM agreed to take mobile gaming to the next level together. The cross platform approach continues, but you’ll see that the BlackBerry solution will be unparalleled.”
Over the past few months, Scoreloop has had the chance to become intimately acquainted
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