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Cordiant Capital, the Montreal based fund manager that specialises in loans to emerging markets, has committed a USD17 million mezzanine funding towards the construction of a new USD214 million corn ethanol producing plant in Hungary.
Demand for renewable fuels in Europe is increasing as a result of the EU’s Renewable Energy Directive, which requires that by 2020 at least 10% of energy used in transport must come from renewable sources. Global production capacity currently lags significantly behind projected demand for biofuels.
The new plant, Pannonia Ethanol, is expected to double Hungary’s current ethanol output level. Construction is already
GlobeOp Financial Services’ assets under administration (AuA) increased to a record total of USD167 billion as at 31 March 2011, a 12% increase from USD149 billion at 31 December 2010 and a 46% increase in the past 12 months, according to the company’s interim management statement covering the period since 31 March 2011.
During the first quarter, existing clients added new funds with USD11 billion of AuA and new clients brought another USD1 billion of assets to GlobeOp. In addition, client subscriptions totalled USD11 billion for the quarter versus redemptions of USD10 billion. Fund performance added USD4 billion to
Lloyd A Sprung has agreed to join the Evercore Partner’s Investment Banking business as a Senior Managing Director. Sprung, who will be based in New York, will focus on advising clients on debt capital markets and corporate restructuring transactions.
Sprung was most recently a Managing Director at Miller Buckfire & Co where he was responsible for leading restructuring, financing and strategic advisory assignments across a variety of industries. With over 17 years of capital markets and restructuring experience, Sprung has advised on numerous significant transactions, notably representing Interstate Bakeries on its bankruptcy restructuring—the Turnaround Management Association Large Company Transaction of
The Honorable R James (Jim) Woolsey and Richard (Dick) Foster have joined venture capital firm, Lux Capital as Venture Partners. Woolsey will help identify novel breakthroughs and new investment opportunities in Energy that offer significant economic and environmental benefits, and can help end America’s addiction to foreign energy resources. Foster will leverage his experience and network to seek new technologies and business models for Life Sciences and healthcare IT investment.
“We are excited to bring Jim and Dick onto the Lux Capital team,” says Josh Wolfe, Managing Partner at Lux Capital. “Both are first-rate individuals, experts with tremendous intellect and
Many private equity portfolios are staging a post-recession comeback and are outperforming their non PE-owned industry peers, according to the latest study of the European private equity industry by AT Kearny.
The report analyses PE transactions in four core European markets – the United Kingdom, DACH (Germany, Austria & Switzerland) , France and the Nordic countries and illustrates the meteoric rise and fall of the industry during the recent past. The study records the recent financial performance of more than 100 European PE portfolios versus their public-industry peers.
The research has identified the rise of two distinct governance models
BNY Mellon will be the first global custodian to make the Burgiss Group’s new private capital benchmarking service, Private iQ, available to institutional clients.
Private iQ provides information and tools to help clients analyse the behaviour and performance of private capital markets. Subscribers will be able to benchmark private equity managers, compare asset classes, and stay informed about macro-level changes in the investment environment. BNY Mellon Asset Servicing was the only custodian to work with Burgiss during the development of Private iQ, supporting clients that wished to contribute private equity investment data to the initiative.
BNY Mellon’s plan
TA Associates is to acquire a 54.4% interest in Stadion Money Management, LLC, a rapidly growing investment management firm, via several of its private equity funds. In connection with the closing of TA Associates’ investment, a new equity incentive plan will be created to broaden ownership among Stadion’s key investment and operational personnel. Terms of the investment were not disclosed.
Founded in 1991, Stadion offers investment management services via mutual funds, separate accounts and retirement accounts. Stadion employs an active money management approach, utilizing data-driven proprietary models to make asset allocation changes based on changing market conditions. The firm seeks
HarbourVest-managed secondary funds together with HarbourVest Global Private Equity Limited (HVPE), a closed-end investment company, will, through an acquisition vehicle, make a public offer for all bearer shares of Absolute Private Equity, Ltd (Absolute) currently in circulation. Absolute is an investment company incorporated in Switzerland and listed on SIX Swiss Exchange.
The tender offer is for USD17.25 cash per Absolute share and is subject to a minimum acceptance level of 50.01% and other customary conditions. At a 100% acceptance level, the transaction values Absolute at USD752 million. The pre-announcement of the public tender offer was issued today, and the
Eurazeo and OFI Private Equity Capital have reached an agreement for the acquisition by Eurazeo of OFI Private Equity Capital, a NYSE Euronext-listed French investment company specialising in SME majority investments.
Under the terms of the agreement, MACIF, Olivier Millet and the other main shareholders of OFI Private Equity Capital have committed to contribute all of their investments held in OFI Private Equity Capital (representing 75% of the share capital and 79% of the share subscription warrants), its management company and its general partner in exchange for new Eurazeo shares. Completion of the transaction is subject to conditions precedent,
Summit Partners and TA Associates have signed definitive documentation to invest USD350 million to recapitalize online gaming platform specialist Bigpoint and position the company for continued strong global growth.
“The investment by TA Associates and Summit Partners is a validation of Bigpoint’s leadership position within the gaming industry, and will give us a huge boost toward becoming one of the most successful gaming companies worldwide,” says Heiko Hubertz, CEO and Founder of Bigpoint. "Summit Partners and TA Associates are supporting Bigpoint’s international expansion — a course we set out upon in recent months with the opening of new offices
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