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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
Riverside Partners, a Boston-based private equity firm with a focus on technology and healthcare investments, has completed a majority equity investment in technology staffing and clinical data management consulting firm Eliassen Group.
Eliassen Group was founded in 1989 and is headquartered in Wakefield, MA with five additional offices along the east coast. The company is composed of two divisions: Technology Recruiting and eClinical Solutions. In its technology recruiting division, Eliassen Group provides IT and software professionals to a blue chip group of clients across a range of industries, including healthcare, biopharmaceutical, financial services, government, education, manufacturing and software development.
The
Nautic Partners LLC, a private equity firm with more than USD2.5 billion of capital under management, has partnered with management to acquire Aavid Thermalloy (Aavid), a leader in designing and manufacturing high-performance thermal management products used in a wide range of electronics systems.
Aavid is headquartered in Concord, New Hampshire, and has global manufacturing facilities across China, North America, Europe, and India. Its products are used to dissipate heat and maintain optimal temperatures of high-performance electronic components used in servers, telecommunications equipment (base station controllers and devices that amplify signals at cell sites), alternative energy equipment (solar and wind power
Northern Trust has added functionality to its Trade Order Entry platform to further automate private market investments and global funds, while increasing safeguards for trade instructions in all asset classes.
Trade Order Entry provides a secure method of delivering trade instructions to Northern Trust. The enhancements offer this level of secure transaction processing for alternative assets, including private equity limited partnerships and hedge funds of funds, and global unitised funds and commingled funds. Trade Order Entry also now offers private equity investors access to enriched real-time cash forecast information, an important feature as transaction volumes increase for alternative assets. In
Exit activity for venture-backed companies moved closer to levels seen before the economic downturn as 514 companies achieved liquidity in 2010, netting USD39.3 billion, according to industry tracker Dow Jones VentureSource.
That represents a 25% increase in exits from 2009 and is not far from the 613 exits completed in 2007. Capital garnered through exits rose 72% from 2009 but was still down dramatically from the $69.1 billion netted in 2007.
During the fourth quarter of 2010, 126 exits raised USD11.8 billion, a slight increase in activity from the same period last year when 123 exits raised USD11 billion.
Private equity firm Olympus Partners has sold T&H Group to Alliant Insurance Services.
Olympus has owned T&H Group – a New York-based insurance broker with specialties in surety, construction-related insurance and employee benefits, since April 2006 when it acquired Tanenbaum-Harber and Thesco Benefits. T&H Group later acquired RFF & Associates and Construction Insurance Brokers.
Rob Morris of Olympus Partners commented, “This investment represents an excellent result for Olympus," says Rob Morris, founder of Olympus Partners. "The T&H management team successfully acquired and consolidated the operations of two specialty insurance brokers and added-on several smaller books of business.”
The Olympus
Following the enactments of the Securities and Investment Business Act, 2010 (SIBA) and Mutual Funds Regulations, 2010, the BVI Financial Services Commission (BVI FSC) has now released the Public Funds Code, 2010.
The code, which will come into force on 31 March 2011 and will from that point apply to all BVI funds registered as public funds, is designed to implement the standards set by the International Organisation of Securities Commissions (IOSCO) for the regulation of retail funds, as far as is relevant and applicable to public funds. In addition to considering ISOCO’s Objectives and Principles, the FSC has also
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