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MMC Ventures (MMC), the growth company investor, has invested GBP1.8 million in online retail stockbroker and personal finance media company Interactive Investor Plc.
Interactive Investor offers individuals information and technology to manage their own investments through two channels; online, through Interactive Investor (www.iii.co.uk) and Shareprice.co.uk and offline, through financial magazines Moneywise and Money Observer. MMC is taking a significant minority stake in the business, which has revenues of GBP14 million.
“The retail brokerage market has experienced exponential growth and we expect that to continue as an increasing number of people take more control over their own savings and investments
Debevoise & Plimpton LLP is advising Helios Investment Partners (Helios) in its agreement to acquire a controlling two-third stake in Interswitch Limited (Interswitch), Nigeria&rsqu
Maven has provided expansion funding to John McGavigan Limited (JML), a manufacturer of decorative assemblies and interior parts for the automotive industry.
The business, which enjoys a significant share of the Western European market and has an increasing presence in Eastern Europe, employs over 130 staff at its modern plant in Bishopbriggs near Glasgow and is at the forefront of automotive assemblies technology, supplying Tier 1 manufacturers such as Bosch, Visteon, Continental and Yazaki. JML components are widely used by global brand car makers producing affordable high volume cars, including Ford, GM, Jaguar/Landrover and Toyota.
The company was acquired in
US private equity fund-raising defied expectations in 2010, declining even further from the low levels of 2009, according to figures from Dow Jones LP Source. In all, 336 funds raised USD86.3 billion in 2010, down 16% from the USD102.2 billion raised by 366 funds in 2009.
While most sectors experienced a slowdown, 2010 saw a few bright spots as distressed debt funds, mezzanine funds and industry-focused funds raised more money than they did in 2009.
Although overall fund-raising was down for the year, in the fourth quarter, firms raised USD26.7 billion in 65 funds, up 19% from the USD22.5 billion
Private equity fund managers expect to close more new deals in the coming year than they did during the past 12 months, according to the second annual PErspective study by BDO USA, LLP.
Almost half (49 per cent) of respondents expect to close three or more deals during the next 12 months compared with only 31 per cent who reported closing three or more deals during the past year. More specifically, nearly two-fifths (38 per cent) of respondents expect to close between three and five new deals in the coming year, while only 16 per cent having reported closing
Venture capital and growth equity firm Accel Partners is planning planning to open a New York City office. The firm currently manages over USD6bn globally and also has offices in Palo Alto, Bangalore, Beijing, London, New Delhi, and Shanghai.
Accel Partners has made over 15 investments in companies in the New York City area over the past three years, and plans to continue its active New York City-based investment pace going into 2011. The firm’s active New York City area investments include industry-leading startups such as: Diapers.com-Quidsi, Etsy, Squarespace, Glam Media, Collective Media, Learnvest, Bonobos, Bauble Bar, and additional seed-stage
Morgan Stanley Credit Partners, the first dedicated corporate mezzanine fund from Morgan Stanley Investment Management (MSIM), has held its final closing with USD956 million in capital commitments.
“This successful fund raise demonstrates the strength of the Morgan Stanley Credit Partners’ investment team, and the confidence investors have in Morgan Stanley,” says Gregory Fleming (pictured), President of MSIM and Global Research. “The demand for alternative investments, combined with the team’s leveraged finance expertise and ability to leverage Morgan Stanley’s global resources and relationships, contributed to the strong response from investors.”
MS Credit invests primarily in fixed income securities issued by middle
Private equity firm GTCR has entered into a partnership with David Minella to form Aligned Asset Managers (AAM), which will focus on building a multi-strategy asset management platform through substantial equity investments in firms across alternative and traditional asset classes.
GTCR, the firm that pioneered the Leaders Strategy of partnering with proven executives in growing industries to create market-leading companies, plans to invest up to USD200 million of equity capital to support the strategy, while Minella will serve as CEO of Stamford, Connecticut-based AAM.
Minella, a 35-year financial services industry veteran, was formerly CEO at Value Asset Management (VAM), a
International law firm Mourant Ozannes has expanded its award-winning Cayman Islands investment funds team with the appointment of Associate Adam Bathgate (pictured), who joins the firm from Clifford Chance’s Munich office.
A solicitor of the Supreme Court of England and Wales, Bathgate graduated from Christ Church, Oxford, with a first class degree in Law and German Law in 2002, and completed the LPC at Nottingham Law School in 2003. He was admitted as an Attorney of the Grand Court of the Cayman Islands in 2010.
"This is a very exciting time to be joining Mourant Ozannes," says Bathgate. "The firm has
Harold O Rosser a 20-plus year veteran of the private equity industry has formed Rosser Capital Partners (RCP) which will focus primarily on restaurant investments, in addition to consumer and multi-unit retail companies.
"I believe now is an appropriate time in my career to establish an independent platform from which to invest," says Rosser, Managing Partner of RCP. "While it was a difficult decision to make, I am very excited about this new path I have chosen. RCP is perhaps the only private equity firm with a specific emphasis on the restaurant sector and my goal is to leverage our
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