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The number of mergers and acquisitions during Q4 2010 fell by 20.6 per cent compared to Q4 2009, bringing the volume of deals for the whole of 2010 to 4,240 – 4.5 per cent fewer than the total number of deals in 2009, according to Experian.
The company’s latest mergers and acquisitions (M&A) and equity capital market (ECM) data has also revealed that the value of deals during Q4 2010 fell – down 17.7 per cent compared to Q4 2009. The total value of deals for the year saw a decline of 16.8 per cent compared to 2009.
During Q4
Dale Pfost has joined Advent Venture Partners as a venture partner. Dr Pfost has more than 25 years of experience as a life science entrepreneur and CEO, with expertise in high technology research tools, genomics, diagnostics and therapeutics.
He will be based in the US and will assist General Partners Shahzad Malik and Raj Parekh in managing investments for the new USD120 million (GBP75 million) Advent Life Sciences venture capital fund, which closed in November 2010.
“Dale is an outstanding addition to our team," says Parekh. " His track record of building, growing and securing successful exits for his
Blackstone Advisory Partners vice chairman, Byron R Wien, has issued his 26th annual list of ‘surprises’ for the coming year.
The first list was issued way back in 1986 when Wien was the Chief US Investment Strategist at Morgan Stanley and as ever this year’s edition consist of political, economic and financial market predictions that the average investor would only assign a one out of three chance of taking place but which Wien believes are “probable”, having a better than 50% likelihood of happening.
The surprises…
The continuation of the Bush tax cuts coupled with the extension of unemployment benefits
Monomoy Capital Partners, a New York private equity fund focused on value investing and business improvement in the smaller end of the middle market, has sold its portfolio company, SRC, to Buckingham Capital and Stelaris Capital.
Although financial terms of the transaction have not been disclosed, Monomoy received cash and securities that equate to a five times cash-on-cash return for its debut restructuring fund.
SRC is the world’s leading producer of fused magnesium flux, a critical chemical component in the production and recycling of magnesium and aluminum alloys. The company’s fluxes are critical components in the production, casting and recycling
Middle-market private equity firm Irving Place Capital (IPC) has acquired Dots, a women’s fashion and accessory retail company.
Terms of the transaction, which closed on January 3, 2011, have not been disclosed.
Dots is a specialty retail company offering women the newest fashion trends at affordable prices. Founded in 1987, Dots has grown into a national retail chain with more than 400 stores in 26 states, primarily in the Midwest, East and Southeast. Dots caters to women ages 25 to 35 who are passionate about wearing the latest fashion trends available at exceptional prices.
“This acquisition is a wonderful opportunity
Specialist private equity fund-of-funds KCC Management has been renamed Cuyahoga Capital Partners after gaining independence from Key Capital Corporation.
The new firm will be led by Managing Partners Chris Hanrahan and Bart Shirley (pictured), while the entire KCC Management team of investment professionals will remain with Cuyahoga Capital Partners.
Cuyahoga Capital will manage each of the funds raised by KCC Management and the existing funds will be rebranded with the Cuyahoga Capital Partners name.
“This step is a natural evolution for the continued growth of our team," says Shirley. "Over the past six years, our team’s performance has successfully enabled
Lovell Minnick Partners, a private equity firm providing buyout and growth capital to companies in the financial services industry, has promoted John D Cochran to Managing Director, effective January 1, 2011.
As Managing Director, Cochran, 39, joins the Investment Committee of Lovell Minnick Partners, which has offices in the Los Angeles and Philadelphia areas and is responsible for managing the firm’s private equity partnerships totalling
USD800 million. The Lovell Minnick Partners Investment Committee includes Jeffrey D Lovell, Chairman; James E. Minnick, President; Jennings (Jay) Newcom, General Counsel and Managing Director; and Managing Directors Robert M. Belke, Spencer P. Hoffman and
The total value of smaller private equity buyouts completed during 2010 rose to over GBP2.5billion, a 150 per cent increase on 2009 levels, according to data from The UK Growth Buyout Dashboard.
The quarterly trend analysis of private equity transactions in the GBP10 million to GBP100 million segment produced by Lyceum Capital and Cass Business School shows 68 companies raised an estimated GBP2,504million of buyout funding in 2010. This compares with 34 transactions and GBP1,045million of funding during the previous 12 months.
The report’s authors say the figures provide further evidence that increasing numbers of successful SMEs are seeking
Plexus Capital, the North Carolina-based private equity firm, has has completed its final closing of Plexus Fund II. This is the firm’s second fund to make loans and equity investments in small and mid-sized businesses in North Carolina and the eastern half of the US.
Despite a difficult economic environment, Plexus exceeded its private capital fundraising target of USD150 million by raising USD165 million from a limited partner group consisting of individual investors, banks, institutions, family offices and money managers.
Plexus received its second SBIC license from the Small Business Administration (SBA) in January of 2010, giving it access to
Alternative asset manager The Carlyle Group has become the first firm to establish an investment structure under Dubai’s new Collective Investment Law, which was enacted in July 2010.
Law firm Taylor Wessing advised Carlyle on the establishment of Carlyle MENA Investment Advisors Limited, which will partner with the firm’s existing regional fund, Carlyle MENA Partners.
Under this new structure, Carlyle’s MENA investment team will be able to establish and manage investment funds domiciled in the Dubai International Financial Centre (DIFC) as well as in other recognised jurisdictions.
“The new Collective Investment Law is a testament to the DIFC being
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