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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
Yorkville Advisors, the US-based investment manager to an alternative investment fund, has entered into a GBP20m standby equity distribution agreement on behalf of one of its funds with AIM listed Xcite Energy.
Xcite Energy is an exploration and development company focused on heavy oil resources in the North Sea.
Xcite Energy intends to use funding to assist in its future working capital requirements and to progress towards the first stage production of the Bentley field. The company aims to become a significant independent heavy oil producer in the North Sea by 2014.
The agreement will enable Xcite Energy for up
HarbourVest Global Private Equity, a closed-end investment company listed on Euronext Amsterdam and the Specialist Fund Market of the London Stock Exchange, has reported an increase in economic net asset value of 4.4 per cent over the six months ended 31 July 2010.
As at 31 July 2010, HarbourVest’s economic NAV was USD749.6m, or USD9.03 per share.
This represents an increase of USD0.38 per share over the financial period from 31 January 2010 (USD8.65).
This increase was driven primarily by HarbourVest US fund of funds, which increased by USD0.35 per share. USD0.18 per share resulted from HarbourVest international fund
California based SDS Ventures is launching a biotechnology fund in October 2010.
The fund is raising up to USD75m with a focus on oncology biotechnology companies with at least one phase three drug in the pipeline.
SDS Ventures has already identified a California based prospective portfolio company and is currently in the due diligence stage.
The fund is expected to close the first round of approximately USD30m by the end of 2010.
Former biotechnology chief executives and researchers have signed on to serve as the fund’s independent advisers.
Thoma Bravo, a private equity investment firm, has completed the acquisition of LANDesk Software from Emerson.
LANDesk specialises in systems lifecycle management, endpoint security and IT service management.
Financial details were not disclosed.
Steve Daly, formerly the executive vice president and general manager of LANDesk, has been named the chief executive of LANDesk and will lead the independent company along with the existing management team.
“Now that LANDesk is an independent company, we can be more focused on strengthening our core business,” says Daly. “LANDesk customers, partners and employees can expect even more innovation throughout our key solutions – systems
The Blackstone Group and Patria, a Brazilian alternative asset manager, have formed a partnership in which Blackstone would purchase a 40 per cent stake in Patria and the two firms would agree to cooperate in building their businesses in Brazil and throughout South America.
Stephen A. Schwarzman, chairman and chief executive of Blackstone, says: “We have known and respected Patria, whose business parallels ours in so many respects, for over ten years. Brazil is the largest economy in Latin America and growing rapidly. Partnering with Patria will enable Blackstone’s limited partners and advisory clients to benefit from the fast expanding
Keyuan Petrochemicals, a manufacturer of petrochemical products in China, has closed a private placement financing with institutional investors with gross proceeds of USD20.3m to fund the purchase of raw materials for its petrochemical production facility.
The lead investor was Prax Capital, a China-focused private equity fund that invests in the company through its solely owned investment vehicle Dragon State International.
Keyuan Petrochemicals issued 540,001 investment units. Each unit includes ten shares of series B preferred stock convertible into ordinary common shares, in addition to 1.5 class C warrants with an exercise price of USD4.50 per share and 1.5 class D
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