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RiverRock European Capital Partners LLP has announced the first external close of its European Opportunities Fund at EUR76mn in subscriptions (approx. USD108m). The fund now expects to finalise its legal close by the end of May and make its first investments shortly thereafter.
The final close is expected to occur within 12 months and the target size of the fund is EUR250m. The cornerstone investor in the fund is the European Investment Fund (EIF) alongside other leading institutional investors and private family offices in Europe and the Middle East, as well as RiverRock’s own internal capital.
The European
Ochre House Limited, the recruitment outsourcing and talent management business backed by NBGI Private Equity (NBGIPE), has sold the subsidiary ITN Mark Education Limited (ITN Mark) in a deal valued at over GBP13m.
Under the terms of the deal, ITN Mark, a provider of supply teachers and teaching assistants to the public sector, will be acquired by Core Education & Consulting Solutions (UK) Limited (Core Education), a wholly owned subsidiary of Core Projects & Technologies Limited (Core Projects). Core Projects is a leading global education company based in India, providing education solutions and consulting services to educational institutions in the
MTI, the leading UK technology venture capital investor, has sold Myconostica Limited, the first investment in the UMIP Premier Fund (UPF), to Cambridge UK-based, Lab21 Limited, for an undisclosed sum.
Myconostica develops and markets PCR based in vitro diagnostic test kits for the rapid diagnosis of life-threatening fungal infections and stems from the pioneering work of Professor David Denning of the Faculty of Medicine, the University of Manchester.
The sale of Myconostica to Lab 21 repositions the company within a larger portfolio of specialist diagnostics and services under the Lab 21 umbrella, and brings synergies to both companies, with
Investec Growth & Acquisition Finance (Investec), part of Investec Specialist Private Bank, has expanded its team with the appointment of Stephen White, who joins from Barclays.
White will work with Ed Cottrell (pictured) and the team to originate and execute deals with entrepreneurs, management teams and private equity firms in order to provide finance to mid-market companies looking to borrow between GBP5 million and GBP30 million. The team’s focus on strong management teams and high calibre businesses means that it has continued to lend and grow throughout the economic downturn, including Investec’s recent involvement in the finance of Snow &
Electra Private Equity’s NAV per share is up 6.9% to 2,193p (diluted) as a result of solid trading performance in the portfolio, according to the firm’s latest unaudited half-year results.
NAV per share is up 15.4% over the year, while NAV per share (diluted) plus special dividends is up 57.7% over five years. Annualised return on equity of 9.7% (diluted) for the five years.
The firm’s share price is up 21.6% against 7.0% for the FTSE All-Share Index.
Outperformance over 10 years: NAV up 128.0% (diluted) and share price up 83.3% against 13.1% for FTSE All-Share
Albion Ventures LLP, partnership with UCL Business (UCLB) has made a GBP1 million investment in Abcodia a company engaged in the validation and discovery of molecular biomarkers for disease diagnosis and screening. The investment will help develop Abcodia’s visionary plans which could transform the way that life-threatening diseases are diagnosed.
This investment builds on Albion’s established reputation as an investor in the healthcare sector, including previous investments in diagnostic technologies. Companies already in the portfolio include Mirada Medical, Vivacta, Dexela and Dysis Medical. The Abcodia investment compliments previous asset-backed investments such as Oakland Care Home made last year, to create
PwC’s latest Valuation Index shows that, as at the end of Q1 2011, the index for the overall UK market stands at 87, meaning observed equity multiples for all UK quoted shares are 13% below those implied by economic fundamentals. PwC believes that market multiples will continue to track fundamentals more closely than has been the case over the last 20 years.
The quarterly index focuses on recent valuation trends in the technology sector and asks if we are in the middle of another technology bubble as very high valuation multiples are being reported in the US for social media
TA Associates, a leading growth private equity firm, today announced it will establish operations in the Asia Pacific region with the opening of an office in Hong Kong. Edward F Sippel has joined the firm as managing principal – Asia Pacific to open and lead the new office. Also joining TA is Jason Tan, who will serve as director of China, reporting to Sippel.
Sippel has nearly 15 years of experience in deal sourcing, due diligence, structuring, portfolio management and exits across numerous Asian markets. Prior to joining TA, Sippel was with Quadrangle Group, where as a managing principal he
Funds advised by Kohlberg Kravis Roberts & Co (KKR) along with International Finance Corporation (IFC) have led an investment of INR4.4bn in Magma Fincorp.
IFC’s investment is subject to the approval of the Board of IFC, shareholders of Magma and relevant regulatory authorities. The capital infusion will be used to support Magma’s growth plans in existing businesses in addition to newer areas.
“For this round of capital raise, we have carefully selected partners, who believe in Magma’s business model, people wealth, distribution franchise and asset quality and are providers of long-term strategic capital that can support Magma attain the next
BaltCap has exited its portfolio company Adam Auto by selling it to Hansa Auto, the Latvian subsidiary of leading Baltic car dealer Amserv Group.
Hansa Auto has acquired 100% of Adam Auto SIA’s shares from Baltic Investment Fund III advised by BaltCap, and minority shareholders.
Adam Auto SIA was founded in 1997 and is among the leading car dealers in Latvia operating three Opel and Chevrolet dealerships in Riga, Ventspils and Liepaja. The company employs 76 people.
Astra Neimane, Investment Director of BaltCap says: "Since the investment in 2004, BaltCap has developed and supported Adam Auto both during the times
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