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Inflexion Private Equity has chosen Guernsey as the home for its GBP375 million 2010 Buyout Fund – the firm’s first non-UK fund.
The Aztec Group has been named as the fund administrator while Carey Olsen provided legal advice on the fund which, from start to finish, completed the official fundraising time in an just four months. The fund was hugely over-subscribed and had its one and only close at the end of September.
“The Aztec Group and Carey Olsen consistently impressed us throughout the pitch process and most importantly during fundraising itself,” says Alistair Hamilton, CFO of Infelxion. “Their
Robert Koller, an Austrian citizen, who completed law degrees in both Austria and Spain, has been awarded a landmark decision in a dispute lasting several years in relation to the Austrian legal profession.
Having first qualified as a lawyer in Spain, he applied to take the foreign lawyers’ test in Austria and requested exemption based on the fact that he had studied law in Austria and that there was a relevant provision in Austrian law.
However, his request for admittance to the aptitude test was denied in the first instance and also after appeal by the Oberste Berufungs und Disziplinarkommission
Following its acquisition of home healthcare services provider AccentCare, Oak Hill Capital Partners intends to combine it with Guardian Home Care, a homecare and hospice service provider in the Tennessee, Georgia and Texas markets.
The terms of the transaction were not disclosed.
The combination of AccentCare and Guardian creates one of the largest operators in the industry. The new company will operate over 130 branches across ten states, serving more than 30,000 patients.
“The new AccentCare provides a strong platform from which to build a national leader in home healthcare services. The combination will allow us to incorporate best practices
Peak Ridge Capital’s AgTech Fund has invested in Xolve, a nanotechnology company whose technology allows for the breakdown of nanomaterials while mitigating the two most critical concerns – cost and performance.
Peak Ridge was one of four investors involved in the round of financing for Xolve which will allow the company to expand their production facilities, R&D, intellectual property base and accelerate their sales, marketing and business development. Other investors include, DSM, the Nordic Group of Companies and NEW Capital Fund.
“We continue to be impressed with the breadth of commercial applications for Xolve’s core technology,” says Jason Smith
GCP Capital Partners LLC has completed a USD23 million investment in ClearView Risk Holdings, whose principal subsidiary is dallas-based wholesale insurance broker Southwest Risk.
Southwest Risk, which specialises in certain property and casualty coverages – including real estate and construction risks – will change its name to ClearView Risk with founder and Chief Executive Officer Bryan Wilburn and his management team continuing to lead operations. Prior to this transaction, Southwest Risk was wholly owned by Houston International Insurance Group (HIIG). Both HIIG and Wilburn are co-investors.
"We have made a number of investments in the insurance industry and have
The Riverstone/Carlyle Global Energy and Power Funds, a group of energy-focused private equity funds managed by Riverstone Holdings, has completed the acquisition of USA Compression, a natural gas compression services company headquartered in Austin and Dallas, Texas.
The terms of the transaction were not disclosed.
Founded in 1998, USA Compression is the largest pure-play contract compression service provider in the US, with approximately 610,000 horsepower of compression equipment deployed across 13 states in the Central and Northeast regions.
Eric D. Long, chief executive of USA Compression, says: "We are pleased to partner with Riverstone, an organisation with deep knowledge and
The Bermuda Government is planning to extend to 2035 the period of time for which the Ministry of Finance may grant an assurance to international businesses that are identified as exempted undertakings that they will be exempt from certain tax liabilities in Bermuda.
The announcement was made as part of the 2010 Speech from the Throne, given in November and delivered by Sir Richard Gozney, Governor of Bermuda.
According to law firm Appleby, the current legislation, the Exempted Undertakings Tax Protection Act 1996 and related regulations, currently provide for assurances to be granted to exempted undertakings by the Ministry of
Private equity firm Advent International has sold the value fashion chain Takko to Apax Partners.
The transaction, which is subject to approval by the antitrust authorities, is expected to be finalised in the first quarter 2011.
Since acquiring Takko in 2007, Advent International has supported the company’s management in its transformation from a hard discount to a value fashion brand and in accelerating its international growth strategy and expanding its business.
The number of stores was increased, existing shops were modernised, operational procedures were developed and the selection of products was expanded.
Over the last three-and-a-half years, Takko has opened
VTB Capital Private Equity and Special Situations has closed the acquisition of a USD30m minority stake in Brunswick Rail, the Russian freight car leasing company.
To date, VTB Capital Private Equity and Special Situations has invested over USD500m in a number of Russian companies in joint projects with international private equity funds and operational partners.
The funds will be invested primarily in building up Brunswick Rail’s freight railcar fleet, which currently stands at 12,500. Brunswick Rail estimates that the Russian rail market will require more than 700,000 new railcars in the next ten years to replace retired fleet and ensure
Fortress Investment Group has appointed Thomas Chan-Soo Kang as president, Fortress Asia.
Kang will become a member of Fortress’s management committee and will have responsibility for business development, capital formation, strategy and management/administration in the Asia region.
Kang will be based in Fortress’s newly opened Singapore office, and will report directly to Fortress chief executive Daniel Mudd.
“Tom’s role underscores our deep commitment to the region and will support the continued strategic expansion of our Asia business,” says Mudd. “Tom brings an exceptional depth of experience to our team, including building and running major investment companies and establishing one of
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