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Crosslink Capital, a venture capital and growth equity firm, has closed Crosslink Ventures VI, a USD200m venture fund focused on information technology and energy technology investments.
Like prior funds, Crosslink Ventures VI is stage-independent with a bias to early-stage investments.
The new fund attracted investment from existing and new limited partners. Among those the new LPs investing in Crosslink Ventures VI is Guardian Life Insurance Company of America.
"We joined Crosslink Ventures VI as a new limited partner because Crosslink Capital has consistently been a top performer in up or down markets, and we’re convinced their unique investment strategy works,"
Endo Pharmaceuticals has entered into a definitive agreement to acquire Apax Partners’ portfolio company Qualitest Pharmaceuticals for approximately USD1.2bn in cash.
Qualitest, a portfolio company of Apax since 2007, is the sixth largest generic pharmaceutical company in the US.
Buddy Gumina, partner and co-head of global healthcare at Apax, says: "We have been proud to work with the management team at Qualitest Pharmaceuticals over the past three years as they have built one of the leading generics businesses in the US by supplying high-quality, cost-effective pharmaceuticals. Qualitest, and now Endo, represents an important part of the solution to the challenges
Clydesdale Bank Corporate & Structured Finance has backed private equity house ECI Partners in the secondary buy-out of XLN Telecom, a UK provider of telecoms services for small businesses.
ECI, which has acquired a majority stake from Zeus Private Equity, will continue to support founder and group chief executive Christian Nellemann and his management team to grow XLN both organically and through acquisition.
Clydesdale Bank Corporate & Structured Finance provided funding as part of a three-bank club which also included Lloyds and RBS.
Alison Taylor, director of Clydesdale Bank Corporate & Structured Finance in London, led a team which also
Private equity firms made 35 investments with a disclosed transaction value of USD8.0bn in the financial institutions group sector during the first half of 2010, up 17 per cent from the same period last year, according to a report by Freeman, an adviser to the financial services industry.
The average transaction size was USD331.2m, down modestly from 1H 2009’s average size of USD365.0m.
In the asset management sector, market stabilisation led to deal activity resuming with four transactions totalling USD226m taking place in the first half of the year, compared to only one transaction valued at USD16m for 1H 2009.
The Mexican standoff that has been brewing in the European credit markets seems to be heading towards a showdown as the bulls jostle with the bears for control, but will it end in high drama? Sarang Kulkarni (pictured), fund manager, European Credit at Schroders, examines both camps.
The bulls remain encouraged that credit is in the sweet spot over the medium term, as base rates stay lower for longer, and growth remains subdued, but positive nevertheless. Buy credit; sell government bonds!
On the other hand, the bears believe that a recovery is not sustainable; that the developed economies will
The Aureos Southern Africa Fund has sold its stake in Orange Madagascar, the mobile phone service business, realising an internal rate of return of 44 per cent for investors.
Orange Madagascar is part of the Orange brand and its majority shareholder is France Telecom.
The Aureos Southern Africa Fund is managed by Aureos Capital, a private equity fund management company specialising in investing in small and medium sized businesses in emerging markets.
Aureos invested in Orange Madagascar, one of four mobile phone companies operating in Madagascar, in September 2005.
Ron den Besten, Aureos managing partner, Southern Africa, says: “Orange
CMEA Capital, an investment firm focused on energy and materials, information technology and life sciences, has appointed Erik Sebusch as a partner.
He brings more than 15 years of investment experience as both a venture capitalist, entrepreneur and a limited partner to the firm.
Sebusch joins CMEA from UPS Investments, where he managed private equity, venture capital and real estate funds.
"Limited partners are the engine that keeps investment firms going. The firms that know exactly what their LPs want and can customise funds to meet those needs are the ones that will thrive despite the capital crunch," says Jim
Sovereign Capital has acquired Guardian Homecare as the second bolt-on for its domiciliary care provider, City & County Healthcare, in six months.
Established in 2000, Guardian employs around 275 care workers, directly delivering over 10,000 hours per week of care and support in the home, mainly to elderly people and those with learning disabilities.
The business has five branches across north-west and south-east England and Northern Ireland and seven franchises in England.
The location of its branches and franchises complement those of City & County as they are either in areas not currently covered by City & County, or areas
IHS has acquired Syntex Management Systems, an SMH Private Equity Group portfolio company based in Houston, Texas.
SMH Private Equity Group is a division of Sanders Morris Harris Group.
Syntex, a provider of enterprise risk management software, helps customers manage corporate risks such as employee safety and health programmes.
This is the second major private equity investment exit in the past 12 months for SMH, following the sale of Lombardi to IBM.
Private equity firm Trilantic Capital Partners has agreed to purchase a substantial minority interest in Fortitech, a developer and manufacturer of nutrient premixes for the food, beverage and pharmaceutical industries.
Fortitech custom nutrient premixes integrate functional ingredients such as vitamins, minerals and amino acids into a wide range of products including cereals, dairy products, sports drinks, juices, water, baby formulas and snacks.
Headquartered in New York, Fortitech has facilities in the US, Europe, Asia, Mexico and South America.
This investment enables Fortitech to continue to drive its growth initiative.
“Fortitech is the leader in its industry, with a strong competitive
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