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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
Monomoy Capital Partners, a private equity firm that makes control equity investments in under-performing companies in the lower middle market, has held the final closing of its second restructuring fund, Monomoy Capital Partners II with USD400 million of Limited Partner commitments.
Monomoy’s Fund II exceeded the firm’s USD350 million fundraising target, filled its USD400 million legal “hard cap” for institutional limited partner commitments and was significantly oversubscribed at its final closing. Including a separate executive fund and the financial commitments of the general partner, Monomoy has the ability to invest approximately USD420 million through its second fund vehicle.
Monomoy
Kohlberg Kravis Roberts & Co (KKR) has appointed Richard Sarnoff (pictured) as a Senior Advisor to the Firm. Sarnoff joins KKR from Bertelsmann AG, where he was Co-Chairman of Bertelsmann Inc, the US holding company, and President of Bertelsmann Digital Media Investments (BDMI).
Sarnoff will work closely with the KKR team to identify and pursue new investments, particularly in the media sector, while also supporting existing portfolio companies. He will become a member of the board of directors of BMG Rights Management, a joint venture between KKR and Bertelsmann AG, and become a Senior Advisor and serve on the board
Lower middle-market buyout firm High Street Capital has completed the sale of Countryside Hospice Care, a wholly-owned portfolio company of High Street Capital III SBIC, to SolAmor Hospice, a subsidiary of Sun Healthcare Group.
Countryside, which is based in Anniston, Alabama and provides in-home hospice services in 114 counties in Alabama and Georgia, was acquired in 2005 through High Street’s third investment fund. Following the acquisition, High Street grew earnings by refining the go-to-market strategy, building out the management team and improving operations to expand rapidly into contiguous markets.
“The expanded management team at Countryside and High Street Capital forged
Holtzbrinck Ventures has closed its fourth Fund, HV Holtzbrinck Ventures Fund IV at EUR177m, raising capital from both Verlagsgruppe Georg von Holtzbrinck and funds managed by HarbourVest Partners, LLC.
Holtzbrinck Ventures, which will now operate as a fully independent venture fund, will continue to execute its strategy of investing in promising early stage companies within the new media sector, which has been consistently successful over the last 12 years. Holtzbrinck will continue its strong support of Holtzbrinck Ventures through its investment in the new fund.
Holtzbrinck Ventures has invested in over 80 new media companies since 1998 and has founded
EyeSense AG, a venture capital-backed developer of novel ophthalmic self-diagnostic systems for glucose monitoring of diabetes patients, has entered into a strategic partnership with QIAGEN. Capitalising on QIAGEN’s ESE fluorescence-based optical technology and on Eyesense’s glucose sensing technology, the partners intend to develop a new optical measurement technology for blood glucose monitoring in diabetes patients.
QIAGEN acquired a minority equity stake in EyeSense, and attained royalty rights for future commercialisation. Both the investment and the partnership are aimed at further expanding the range of applications for the growing segment of point-of-need testing and individualised treatment of patients. Financial details
Private equity-backed CareCentrix, a provider of home health benefits management services to the managed care industry, has acquired Sleep Management Solutions, a company specialising in sleep benefits management.
With the acquisition of SMS, CareCentrix, which partnered with healthcare private equity firm Water Street Healthcare Partners in 2008 to become a standalone company, expands its services into the fast-growing area of sleep benefits management. SMS provides health plans with a comprehensive program focused on improving patient outcomes and reducing the cost of sleep services.
The company provides Home Sleep Testing (HST) technology to qualifying patients who conduct their prescribed sleep
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