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Private equity firm StepStone Group has hired Weichou Su as managing director in the firm’s new Beijing, China office, which officially opened on 14 September.
Su will focus on the firm’s investment activities in China and throughout Asia.
StepStone has had a presence in China for several years and the new office solidifies the firm’s commitment to the region.
StepStone Group works with institutional investors to build portfolios that include private equity fund investments, co-investments and secondary investments.
“Opportunities for private equity investment in Asia and China are rapidly growing. Weichou’s experience working for many years with the leading private
Marsh, an insurance broker and risk adviser, has appointed five professionals to its private equity and mergers and acquisitions practice within its financial and professional operations.
Joining Marsh are James O’Brien, Jason Hawkins and Craig Warnke as managing directors and Jim Beatty and Machua Millett as senior vice presidents.
O’Brien joins Marsh after 18 years with Aon, where he most recently led the broker’s private equity and transaction solutions group. O’Brien brings more than 20 years of experience in investment fund management and professional liability insurance, merger and acquisitions due diligence and portfolio programs. He began his insurance career as
Invesco has appointed Henry Robin as a managing director in its fund of funds team.
Robin will be based in Invesco’s New York office where he will join founding partner Phil Shaw as co-head of the private equity fund of funds business.
“It has been over six months since we launched the search for someone to manage the fund of funds business together with Phil,” says Mark Armour, head of Invesco Institutional and senior managing director of Invesco Ltd. “Henry’s experience and skill set make him a perfect fit with the seven investment professionals currently managing the group’s USD1.6bn in
LGT Capital Partners, an alternative assets and fund of funds manager, has closed several private equity funds of funds and single investor accounts with total commitments of USD4.1bn.
The firm recently held final closings for the following investment programmes:
• Crown Premium IV in May 2010, with EUR562m in subscriptions
• Crown Global Secondaries II in July 2010, with USD1.2bn in subscriptions
• Crown Europe Middle Market II in July 2010, with EUR429m in subscriptions
In addition, LGT Capital Partners has been awarded a number of single investor accounts.
Tycho Sneyers, partner at LGT Capital Partners, says: “Our ability to raise substantial capital
Conviva, a streaming solutions provider, has closed a USD15m series C round of funding, bringing Conviva’s total amount raised to USD44m since its launch in 2006.
GGV Capital led the round with participation from existing investors Foundation Capital, New Enterprise Associates and Pelion Venture Partners (formerly UV Partners).
Conviva has optimised over a billion video streams for some of the largest broadcasters on the internet and will use the new financing to expand the company’s footprint, drive technology innovation and invest in new industry segments.
According to the Cisco Visual Networking Index, the amount of Internet traffic is expected to
Chief executives of UK mid-market growth companies have a very positive outlook for the year ahead, a survey by ECI Partners and Arbor Square Associates shows.
The findings suggest that the mid-market will be a significant driver behind UK economic growth and will help lead the UK out of recession.
Seventy six per cent of chief executives expect significant revenue and profit growth with 25 per cent expecting growth of more than 25 per cent over the next 12 months.
Against a UK-wide anticipation of job losses, 68 per cent anticipate creating jobs over the next year.
Eighty five per
Helen Wyatt, a senior associate in Mourant Ozannes’ Guernsey office, will join the London team later this month.
Wyatt (pictured) joined Mourant Ozannes in 2001, qualifying as an English solicitor in 2004 and as a Guernsey advocate in 2007. Her current practice includes banking and finance, corporate and funds work.
The appointment comes as Mourant Ozannes celebrates the tenth anniversary of the opening of its London office; in 2000 it became the first law firm from the Channel Islands to operate from a London base.
Jonathan Rigby, managing partner, Mourant Ozannes, says: “London is an extremely important market for Mourant
IK Investment Partners, a pan-European private equity firm, has agreed with the owners of GHD GesundHeits GmbH Deutschland, founder and chief executive Andreas Rudolph and Barclays Private Equity to acquire a majority stake in the company.
Financials for the deal were not disclosed.
GHD provides homecare services in Germany, with expected revenues close to EUR300m in 2010.
GHD has made add-on acquisitions in recent years, supplying homecare patients with both medicines and medical aids.
Rudolph will retain a substantial shareholding in the company.
“Barclays Private Equity’s investment opened new market opportunities for the company. Together with our new partner IK we
HarbourVest Global Private Equity had an estimated economic net asset value of USD738.8m or USD8.90 per share as at 31 August 2010.
This represents a 1.6 per cent increase from the 31 July 2010 estimated economic NAV per share of USD8.76.
HarbourVest’s portfolio has been re-valued to reflect 30 June 2010 valuations, resulting in a USD0.22 increase in economic NAV per share, which was driven by increasing valuations for fund of funds. This change was partially offset by negative foreign currency movement (USD0.06 per share) and ongoing operating expenses (USD0.02 per share).
During the month, HarbourVest funded USD2.5m of
CDC, a China-based operator of and growth investor in hybrid enterprise software, IT services, and new media assets, has signed a memorandum of understanding to establish a private equity fund with the government of Nanhai District, Foshan, a city located in south China’s Guangdong Province.
The Foshan Nanhai-CDC Technology and New Media Fund will be initially funded at RMB600m.
Foshan is the third largest city in Guangdong and holds one of the highest gross domestic product per capita in the country. Foshan is considered one of the top-ten fastest growing cities in China, and has a large manufacturing sector, including
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