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Protox Therapeutics, a developer of receptor targeted fusion proteins for the treatment of diseases of the prostate and cancer, has entered into an investment agreement with private equity firm Warburg Pincus.
Under the agreement, Warburg Pincus Private Equity X and Warburg Pincus X Partners have committed to invest up to CAD35m in Protox, comprised of an initial tranche of CAD10m and an additional tranche of CAD25m subject to the FDA granting a Special Protocol Assessment for the treatment of benign prostatic hyperplasia prior to 30 September 2011.
An SPA is a binding written agreement with the FDA that the proposed
Rypple, a provider of social software for workplace feedback, has raised USD7m in financing led by Bridgescale Partners.
Howard Gwin (pictured), a Bridgescale partner and former executive vice president at PeopleSoft, and Roger Martin, Dean of the Rotman School of Management, will join the company’s board of directors.
Additional investors include Edgestone Capital Ventures, Extreme Venture Partners, Peter Thiel, Seymour Schulich, Roger Martin and Joe Sigelman.
To date, the company has raised a total of USD13m in financing.
"Employees and managers are fed up with HR software that sucks. They don’t want top-down performance software focused on process, not results.
Platina Partners and Environmental Technologies Fund have completed a GBP20m management buy-out of TAG Energy Solutions, the UK’s first manufacturer of tubular foundation structures for offshore wind turbines.
The investment was led by Platina, a private equity firm specialising in renewable energy and special situation buyouts, and supported by Environmental Technologies Fund, a venture capital firm focussing on high-growth opportunities in the cleantech sectors.
TAG also received GBP3mof grants from the Department for Energy and Climate Change and One North East.
TAG Energy Solutions has re-developed the Haverton Hill shipyard on the River Tees in Cleveland and will operate
With changes afoot in the attitude of governments and regulators to compensation and incentivisation packages, Martin Cornish (pictured left) and Mark Silveira (pictured right) of Katten Muchin Rosenman Cornish LLP outline the series of steps alternative investment firms need to take in advance of the changes.
Persuaded by the argument that the size and design of compensation and incentivisation packages in the financial sector contributed to the 2007–09 financial crisis, governments and regulators have spent much of 2010 working on a number of initiatives which they hope will address perceived problems.
Recent developments make it clear that the new rules
Northern Trust has launched a portfolio reporting and monitoring solution for private equity fund of funds managers, which enables them to track their fund of funds holdings and valuations right through to portfolio company level.
“Detailed tracking of underlying investments by a private equity fund of funds manager can be a very time consuming, specialised and resource hungry middle office operation,” says Mark Schoen, head of global product and strategy for Europe, Middle East and Africa. “Through Northern Trust’s fund and investment tracking solution, we can provide our clients with a high level of granularity and reporting that effectively ‘looks
J.P. Morgan Private Equity has opened a tender offer to purchase up to three per cent of current equity shares, ZDP shares and 2015 ZDP shares outstanding.
Shares will be tendered at a price based on the prevailing net asset value as at 31 December 2010.
"Offering the tender is a direct result of the company’s strong balance sheet and the recent increase in distribution activity from underlying investments," says Trevor Ash, J.P. Morgan Private Equity’s chairman. "When distribution activity is sufficient we try to reward shareholders with the ability to periodically tender shares at NAV even when the
Dawn Capital has made an investment in European online printing company Optimalprint.
Optimalprint is using the capital to expand its existing technology and distribution platform in the commercial printing industry.
Henrik Müller-Hansen, founder and chief executive officer at Optimalprint, says: “The global commercial printing market is estimated to be worth EUR277bn. Dawn Capital is providing Optimalprint with extensive knowledge and experience from investing and developing fast growing companies that operate in large, competitive markets. The injected capital is allowing us to increase the pace of our expansion plans, initially in Europe and then on a global scale.”
Norman Fiore, managing
Alternative asset manager The Carlyle Group has closed the acquisition of the B&B Hotel Group, which operates a chain of 223 budget hotels across France, Germany and Italy, from European investment firm Eurazeo for an enterprise value of circa EUR480m.
Further financial terms were not disclosed. The transaction closed on 28 September 2010.
Launched in France in 1990, B&B serves business and leisure travellers.
Carlyle intends to expand the company by investing in the continued renovation of current hotels and by accelerating the hotel opening pace across Europe.
This will include further penetration of the core French market, significant
Law firm Greenberg Traurig has added fund lawyers John A. Brunjes and Genna N. Garver to its corporate and securities practice.
Brunjes joins in the Boston and New York offices as shareholder and Garver in the New York office as of counsel, where they will add to the firm’s growing private investment funds group.
Prior to joining Greenberg Traurig, Brunjes and Garver were at Bracewell & Giuliani in its Connecticut office where Brunjes, a partner, was a member of private investment funds group, and head of the fund formation practice.
Garver was a member of the private investment funds and
Harris & Harris Group has made its first venture debt investment of USD500,000 in GEO Semiconductor.
The round of venture debt financing was led by Montage Capital.
Harris & Harris received warrants as part of the venture debt financing.
This investment is part of Harris & Harris Group’s efforts to expand its core venture capital investments in equity of privately held and publicly traded small companies with debt securities that provide predictable cash flows and timelines for returns on investment.
In addition to providing venture debt financing, Harris & Harris continues to make equity-based venture capital investments in companies developing
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