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Boston-based private equity firm Berkshire Partners has appointed Sharlyn C Heslam and Elizabeth L Hoffman (pictured) as Managing Directors effective January 1, 2011.
They join the twelve current Managing Directors of Berkshire in managing the firm and its affiliated investment funds.
Heslam, who is the firm’s General Counsel, joined Berkshire Partners in 2006 to manage legal matters relating to Berkshire’s investment processes and operations. Prior to joining Berkshire, she was a corporate partner in the Boston office of Weil, Gotshal & Manges where she represented leading private equity firms in a wide variety of transactions. Heslam received a BA from
The British Virgin Islands Financial Services Commission (BVI FSC) has formed the Securities, Investment Business and Mutual Fund Advisory Committee (SIBA Advisory Committee) to review the Securities and Investment Business Act, 2010 (SIBA) and related relevant legislation and recommend changes to the regulatory regime that governs securities, investment business and mutual funds in the Territory.
Ross Munro, Partner and Head of Investment Funds and Regulatory at the law firm Harneys has been appointed Chairman of the SIBA Advisory Committee, while the other members of the committee are: Robert Briant, Partner, Conyers Dill & Pearman; Ryan Geluk, Director, BDO; Ayana Hull-Brathwaite,
Counsel Corporation has completed the USD140m sale of a real estate portfolio to Retrocom Mid-Market Real Estate Investment Trust. The portfolio consists of seven commercial retail properties totaling in excess of 800,000 square feet of gross leasable area, located in Ontario and New Brunswick.
Retrocom assumed the USD60.3 million of existing mortgage debt on the portfolio and, As of closing, has hired Counsel to manage the properties.
Counsel had, approximately, a 20% equity interest in six of the properties, which it managed for its own account and on behalf of third party investors. In addition, Counsel has a carried interest in
Bermuda’s new Investment Funds Amendment Act 2010, which received the assent of the Governor General on 22 December and amends the Investment Funds Act 2006, has introduced several new provisions for the regulation of investment funds in the Caribbean jurisdiction.
The aim of the Amendment Act is to align “the regulatory framework for funds and fund administrators more closely with the requirements that exist in other regulatory legislation in Bermuda, while ensuring that the framework overall remains risk-based and recognises the unique nature of the funds industry [in Bermuda].”
The Amendment Act was introduced following consultation with Bermuda International Business
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
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