A joint venture formed by Cerberus Capital Management and Chatham Lodging Trust has been selected as the winning bidder in the bankruptcy court auction related to 64 Innkeepers USA Trust hotels. Under the terms of the winning bid, the newly-formed joint venture agreed to purchase the hotels for a total purchase price of approximately USD1.125 billion, including the assumption of debt. "We are pleased that our joint venture with Chatham Lodging Trust has been selected as the winning bidder for most of Innkeepers’ hotels," says Tim Price, Managing Director and spokesperson at Cerberus. "Our ability to work with Innkeepers founder

Plymouth Management Company (PMC) has mad a third investment – via Plymouth Venture Partners Fund II – in Lynx Network Group of Kalamazoo, Michigan.   Lynx Network Group is a full service telecommunications company specialising in advancing high-speed next generation infrastructure in tier two and tier three markets where traditional infrastructure is not capable of meeting demand. The company is currently constructing 1000 miles of fibre optic network infrastructure throughout Michigan for the purposes of connecting businesses, organisations and wireless service providers that demand resilient and ultra-fast infrastructure.      The fibre optic network project will connect communities throughout the Northern,

Kingdom Zephyr Africa Management Company (“Kingdom Zephyr” or “the firm”), the pan-African private equity firm, has opened a new office in Lagos, Nigeria.

 The expansion of Kingdom Zephyr’s activities into Nigeria, Sub-Saharan Africa’s most populous country and second largest economy, is seen as an important strategic move for the firm. According to the IMF, Nigeria will be amongst the world’s top 10 fastest growing economies between 2011-2015, exhibiting a compound growth rate of around 7%. 

The opening of Kingdom Zephyr’s Lagos office extends the firm’s local African reach and enhances Kingdom Zephyr’s ability to source deals in West and Central

Both North America and Europe are expected to see significant growth in their domestic private equity markets, according to the newly released Transatlantic Private Equity survey conducted by mergermarket and Duff & Phelps, the financial advisory and investment banking firm. In late 2010, Duff & Phelps commissioned mergermarket to interview private equity practitioners from the US and Europe regarding their outlook for buyout and exit activity in the upcoming year. Respondents provided insight into their forward-looking plans, strategies and expectations for the transatlantic private equity market. Private equity groups are entering the next 12 months with renewed confidence and high

EIG Global Energy Partners (EIG), has announced the successful final close of Energy Fund XV (Fund XV), the firm’s most recent flagship investment fund.   Fund XV is the largest fund in EIG’s history and includes capital commitments from 187 limited partners from 13 countries. Institutional investors domiciled outside the US represent 45% of total capital commitments.   Launched in February 2010 with a target of USD2.5 billion, Fund XV had a first closing in June 2010 and hit the hard-cap of USD4 billion (excluding affiliate investments) in April 2011, several months prior to the end of the prescribed marketing

The world’s largest network of premium home furnishings, gift and home décor showroom and exhibition space has been launched following an unprecedented USD1bn investment by Bain Capital Partners and a subsidiary of investment funds managed by Oaktree Capital Management. The newly formed International Market Centers unites iconic showroom assets in High Point, NC, and Las Vegas, and create an effective, efficient and compelling world-class business-to-business platform for both buyers and sellers. IMC’s portfolio, initially comprised of 13 buildings and encompassed more than 10.6 million gross square feet, including the International Home Furnishings Center and the Market Square Complex (consisting of

Investors put EUR1.1 billion into 182 deals for European companies during the first quarter of 2011, marking an 18% increase in investment but a 35% drop in deals from the same period last year, according to Dow Jones VentureSource. This represents the lowest quarterly deal count for Europe since VentureSource began tracking the region in 2000. The median size of a European venture capital deal also declined, falling 5% to EUR2 million in the first quarter of 2011 from EUR2.1 million in the same period last year.   “Liquidity is scarce and fund-raising has lagged. Without capital coming in from

I2BF, the international clean technology asset management group, has completed its second investment within the UK by participating in the class C Ordinary Share financing of ACAL Energy Ltd. Other investors in the company include Carbon Trust Investment Partnership and Solvay SA. ACAL Energy (ACAL) is a UK based developer of novel fuel cell power modules and consumable chemicals for a variety of applications, including off grid power for telecoms and automotive power trains.   I2BF’s investment will be used to continue the research and development of ACAL’s unique cost effective Proton Exchange Membrane Fuel Cells (PEMFCs), helping achieve  the increased