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AllianceBernstein has acquired SunAmerica’s alternative investments group, a team that manages a portfolio of hedge fund and private equity fund investments.
"We are pleased to add to our alternative investment capabilities this exceptional hedge fund and private equity fund investment team," says AllianceBernstein chairman and chief executive Peter Kraus. "Marc Gamsin and his SunAmerica Alternative Investments colleagues have built an outstanding platform, which we believe will provide valued investment opportunities for our clients."
Gamsin adds: "We’ve admired AllianceBernstein’s superb investment research for many years, and we’re thrilled to become a part of this respected, global institution, while maintaining our long-standing
Private equity firm Riverside has completed its first deal in Italy with the acquisition from the Italian fund BS Private Equity of 100 per cent of the Arena Group, a waterwear brand.
This is Riverside’s 14th acquisition in 2010 and is part of the Riverside Europe Fund IV.
Arena’s management team will be re-investing alongside Riverside in the new venture.
Arena products are distributed in over 100 countries, including those managed by the Descente Group based in Japan, the trademark owner for the Far East.
Throughout its history, Arena has been a partner to Mark Spitz, Shane Gould,
Irish law firm Mason Hayes+Curran has appointed Mark Browne as a partner in its investment funds department.
Browne has over ten years’ experience in the funds industry and advises on all aspects of the structuring, establishment and ongoing operation of investment funds in Ireland.
In particular, he advises on the redomiciliation of offshore funds to Ireland and the restructuring of hedge funds as Ucits.
Prior to joining Mason Hayes+Curran, Browne practised for four years as an attorney-at-law specialising in hedge funds in a law firm in the Cayman Islands. He also previously worked in the investment funds department of another
NuCO2, a US supplier of beverage carbonation services for the restaurant and hospitality industry, which is owned by Los Angeles-based private equity firm Aurora Capital Group, has formed an alliance with Praxair.
NuCO2, a US supplier of beverage carbonation services for the restaurant and hospitality industry, which is owned by Los Angeles-based private equity firm Aurora Capital Group, has formed an alliance with Praxair.
The alliance includes a long term supply agreement for NuCO2’s purchase of bulk CO2 and beverage carbonation related high pressure cylinder gases from Praxair.
In addition, NuCO2 has acquired certain of Praxair Distribution’s retail beverage carbonation
Huntsman Gay Global Capital, a middle market private equity firm, has made a majority investment in iQor, a provider of business process outsourcing services and the world’s second largest accounts receivable management company.
iQor’s current management team will remain in place and retain a significant ownership stake in the company. Terms of the private transaction were not disclosed.
Headquartered in New York City, iQor has 11,000 employees and 21 locations in North America, Europe, India and Asia. The company generated more than USD345m in revenues in 2009.
Guggenheim Investment Management, which has owned iQor since 2007, is retaining an equity
Stenham Asset Management’s recent acquisition of Guernsey-based hedge fund managers Montier Partners reflects a wider trend involving the consolidation of niche firms within larger organisations, according to Andrew Boyce, corporate partner at Channel Islands law firm Carey Olsen.
“Although the trend is not limited to Guernsey, it is becoming increasingly important as managers move there and look to expand their offering,” he says. “This is happening where the economic crisis has left smaller companies a target for larger ones seeking to expand in their jurisdiction.”
In recent years Guernsey has seen the arrival of major investment firms including hedge
The Aureos South Asia Fund has completed a USD8m investment in Auro Mira Energy, a renewable energy generation company in India.
Aureos South Asia Fund is managed by Aureos South Asia Managers, a subsidiary of Aureos Capital.
This investment is the 11th made by the fund.
Auro Mira was founded in 2005 and currently has two sites in India generating renewable energy using biomass for sale to corporates across the country. The company has commenced four new renewable energy projects to attain 100 MW generation capacity by 2012. The investment by Aureos South Asia Fund will enable Auro Mira
Palamon Capital Partners, a European mid-market private equity firm, has acquired a majority stake in Eneas Energy in a transaction valued at NOK375m.
Eneas is a supplier of corporate energy services in the Nordic region, generating revenue approaching NOK700m during 2010.
It provides a range of services aimed at reducing energy costs for the SME sector as well as large corporate and public authorities.
The company employs 350 staff in its operations based in Norway, Sweden and Germany and serves approximately 10,000 customers.
Eneas is now targeting further growth by broadening its reach both through developing a wider product range
Inflexion Private Equity, a mid market private equity investor, has held the first and final close of its 2010 Buyout Fund with commitments of GBP375m.
The fund was more than twice oversubscribed and fundraising was completed between June and the end of September.
The fund includes investment from a group of almost 30 LPs, including state pension and endowment funds from the US and new investors from Asia and Australia.
The fund will target ten to 15 investments in high growth UK companies with enterprise values ranging from GBP10m to GBP100m.
Simon Turner, managing partner at Inflexion, says: “We
Vision Capital has opened its New York office and completed of its acquisition of the assets of Terphane, a manufacturer of speciality polyester films, from a syndicate of financial investors.
Vision Capital has invested in the Americas since 2004 and has three existing portfolio companies in the region, which are now joined by Terphane.
The new office will enable Vision Capital to support its investments in the Americas more fully.
Terphane’s films are predominantly used to supply the food packaging industry and have benefited from the trend towards more speciality value-added films being used in products such as metalised
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