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Avolon, the aircraft leasing group, has announced a second capital raising of USD650m comprising USD250m of equity and USD400m of debt finance. The company has also agreed terms to acquire 11 new aircraft, under sale and leaseback structures, from four airlines.
The USD250m of additional equity has been raised from Avolon’s existing investors: Cinven, CVC Capital Partners and Oak Hill Capital Partners. A number of other investors have also participated in the equity raising including Oak Hill Advisors. The USD400 million of debt finance was provided by three European institutions – DVB, Nord LB and KfW IPEX-Bank – in separate bilateral
Marc Nahum has joined the Investor Development Group of private equity investor Actis as Distribution Director for Europe and the Middle East, based in London.
The Investor Development Group, led by Actis Partner Jonathon Bond, manages relations with Actis’s 118 investors, as well as potential new partners.
Nahum has worked in fundraising for over a decade and brings a wealth of contacts and experience to Actis. He has been involved in more than 50 fundraisings worth in excess of USD70bn in aggregate. He was formerly Director, Client Relations at RREEF, Deutsche Bank’s alternative investments business, and a Director in
Swiss private equity investors Corestate has appointed Phillip Burns, formerly a Financial Managing Director at Terra Firma Capital Partners, as Chief Executive Officer.
Burns will join in mid-February and primarily will be based at Corestate’s HQ in Zug, but will split his time between each of the firm’s partner offices in London, Frankfurt and Luxembourg.
Burns brings a wealth of real estate and transaction experience to Corestate having joined Terra Firma in 2002 at the time of its spin out from Nomura, the Japanese investment bank. During his time at the firm he was involved with several transactions in
Middle market private investment firm Monroe Capital has expanded its team with the addition of the following professionals: Daniel M Duffy, Managing Director; Sara E Mongerson, Director of Institutional Relationships and Investor Relations; Seth B Friedman, Operations Manager; Jeffrey K. Williams, Vice President; Jeffrey M. Cupples, Assistant Vice President; and, Kyle A Asher, Associate. Monroe also announced the promotion of Alex Franky to Director and Principal.
“We are very excited and fortunate to add these outstanding professionals to our team" says Theodore L Koenig, President and Chief Executive Officer of Monroe Capital. "They will help us continue to deliver dependable,
The Aureos South-East Asia Fund (ASEAF) has completed a USD4m investment in the Daniel O Mercado Medical Center (DMMC), one of the Philippines’ leading medical institutions. ASEAF acquired 33% of the business, previously wholly owned by the Mercado Group.
ASEAF is managed by Aureos Capital Limited, a private equity fund management company specialising in investing in small and medium sized businesses in emerging markets. This investment marks the 17th for the Fund.
DMMC was founded in 1957, and has grown into a 100-bed medical complex, offering affordable healthcare to the Calabarzon region (Philippine growth corridor). The success of the
Private equity investors’ (LPs) total exposure to funds-of-funds will fall over the next three years, according to Coller Capital’s latest Global Private Equity Barometer. High costs are cited by half of investors planning a reduced funds-of-funds exposure, and disappointing returns are cited by one third (36%).
The number of investors refusing to commit to new funds from their current GPs has also reached a record high. Some 91% of European investors have increased their ‘re-up’ refusals compared with just 63% two years ago, while the proportion of Asia-Pacific LPs refusing re-ups has also grown (from 52% two years ago to
Private Equity firms invested USD7,974 million over 325 deals in India during the 12 months ending December 2010, compared to USD4,068 million across 290 deals during the previous year, according to analysis by Venture Intelligence, a research service focused on Private Equity and M&A activity.
“After a volatile 3 year period, PE investment activity in 2010 reverts to the levels of 2006, which had witnessed 358 investments worth USD7,485 million,” says Arun Natarajan, CEO of Venture Intelligence. “The really exciting feature of 2010 was on the exits side where activity vaulted to all time high levels with 121 transactions,
ARC China, an investment manager based in Shanghai, China, has appointed Dan Loeb, Founder and CEO of Catavate Group, as Senior Operating Advisor for the firm’s ARC Westly China Fund.
Loeb and Catavate will assist with due diligence on potential investee companies and will provide ongoing strategic and operational advice to the fund’s portfolio companies and valuation and other support to ARC China, the fund’s manager.
"Dan is a leader in building strong retail platforms in China," says Adam Roseman, Founder and Managing Director of ARC China. "He has been on the ground in China for more than 16 years
Global private equity firm Advent International has agreed to acquire The Priory Group, the UK’s leading independent provider of mental health and specialist care services, from The Royal Bank of Scotland Group plc (RBS) for an enterprise value of up to GBP925 million. The transaction is subject to regulatory approval.
The Priory Group operates from 66 sites and delivers services through 3,355 beds across the country. The group works in partnership with the NHS and local authorities to provide a range of treatment and care facilities including secure and acute services in the mental health sector and neuro-rehabilitation therapy.
GenNx360 Capital Partners, a private equity firm focused on middle market opportunities, is making several executive promotions with effect from January 17, 2011.
The promotions include Mukesh Sawlani, who has been named managing director – Global Operations. Sawlani previously served as chief financial officer and in his new role he will work with Charles Castine, senior partner at GenNx360, and be responsible for further strengthening the firm’s operations practice.
Additionally, Rahul Mahajan has been promoted to managing director – Strategic Initiatives. In his new role,Mahajan will lead strategic initiatives for GenNx360, particularly as they relate to new fund issues and
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