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Macquarie Group has entered into an agreement to acquire 100 per cent of the membership interests in Presidio Partners, a US-based real estate private capital raising and advisory firm.
Terms of the transaction were not disclosed and the transaction is expected to close in the fourth quarter of 2010, subject to regulatory approvals and other customary closing conditions.
Presidio’s strength in the US and Europe, in combination with Macquarie’s position in Asia Pacific, will create a global real estate private capital markets platform.
The combined platform will have a 19 person private capital team, who have raised a combined USD30bn
The Private Equity Council has added 18 new members and has changed its name to the Private Equity Growth Capital Council.
The council earlier this year launched a major effort to broaden membership beyond the founding firms.
In the last few months, the following new members have joined: Avista Capital Partners; Brockway Moran & Partners; Crestview Partners; Genstar Capital; Global Environment Fund; GTCR; Kelso & Company; KPS Capital Partners; Levine Leichtman Capital Partners; MidOcean Partners; New Mountain Capital; The Riverside Company; Sterling Partners; Sun Capital Partners; TA Associates; Thomas H. Lee Partners; Vector Capital; and Welsh, Carson, Anderson & Stowe.
Winshuttle, the ERP usability company, has raised USD12m in growth equity financing from Summit Partners.
The funding will be used to accelerate the company’s expansion.
Founded in 2003, Winshuttle has designed solutions such as Winshuttle Transaction, Query, and the new Studio suite, allowing non-technical users to solve critical data or business process challenges without programming.
By letting users work with their favourite desktop applications to run the complex business processes supported by SAP, Winshuttle’s platform aims to save customers time and money while improving employee productivity and satisfaction.
“Given our current customer momentum, our growing global footprint, and
The Blackstone Group intends to offer senior notes of Blackstone Holdings Finance, its indirect subsidiary, subject to market and other conditions.
The notes will be fully and unconditionally guaranteed by The Blackstone Group and its indirect subsidiaries, Blackstone Holdings I, Blackstone Holdings II, Blackstone Holdings III and Blackstone Holdings IV.
Blackstone intends to use the proceeds from the notes offering for general corporate purposes.
The notes will be offered and sold to qualified institutional buyers in the US pursuant to Rule 144A and outside the US pursuant to Regulation S under the Securities Act of 1933.
Dhiraj Poddar has joined the Mumbai office of TA Associates Advisory as a director.
Poddar will focus on investments in growth companies in India and other emerging markets.
He joins TA from Standard Chartered Private Equity, where he served as a director responsible for origination and evaluation of investment opportunities, leading investments, managing portfolio companies and handling exits.
Previously, he was a senior manager at Infosys BPO, working with investment banking clients to build the knowledge services business unit.
Poddar also served as an assistant vice president, corporate finance at ICICI Securities and held positions at GHCL and Bharti Televentures.
Harbinger Group and Harbinger Capital Partners have reached a definitive agreement for the transfer of Harbinger Capital Partners’ majority interest in consumer products company Spectrum Brands to Harbinger Group.
Harbinger Group is a publicly-traded holding company majority-owned by Harbinger Capital Partners.
Harbinger Capital Partners views Harbinger Group as an efficient, long-term capital market vehicle for exercising its majority ownership over Spectrum Brands to build significant stockholder value.
Following the transfer of majority ownership, Spectrum Brands will remain a standalone publicly-traded company, and the transaction will have no impact on its credit profile or financial position.
Philip Falcone, chief executive of
VoltDB, a developer of high-scale database systems, has closed USD5m in financing from Kepha Partners and Sigma Partners.
VoltDB will use the additional capital to grow adoption and build community awareness of its open-source database software.
VoltDB’s database design allows companies to scale database performance. The system can process millions of transactions per second on a cluster of inexpensive, off-the-shelf servers.
"VoltDB is a major step forward in database technology," says John Mandile (pictured), managing director of Sigma Partners. "We see a lot of urgency scaling database applications today. VoltDB’s unique combination of product innovation and open-source business model gives
There has been a significant increase in the percentage of pension portfolios investing in alternatives when compared to the previous two years, a poll by SEI suggests.
In 2008, 51 per cent of pension executives surveyed said their pension portfolio was invested in alternatives. In 2009 the percentage increased to 53 per cent and this year’s poll saw an increase to 65 per cent.
Use among pensions with more than USD300m in assets is significantly higher than those with less: 84 per cent compared to 53 per cent respectively.
Other poll findings include that nearly all pension executives viewed improved
OrbiMed, an investment management firm focused on the healthcare sector, has appointed Vince Burgess, Peter Thompson and Joseph Zakrewski as venture partners and Alexander Cooper as general counsel.
Burgess, Thompson and Zakrewski will collaborate with OrbiMed’s team of approximately 40 investment professionals to invest in healthcare companies across all stages of development.
Cooper will be responsible for leading OrbiMed’s legal and compliance affairs.
Burgess (pictured) brings over 20 years of experience in healthcare operations, business development and venture capital investment to OrbiMed. Burgess was on the founding executive team at Volcano, where he was group president, advanced imaging systems, and
Kareo, a provider of web-based medical billing software for physicians in the US, has closed an investment by Boston venture capital firm OpenView Venture Partners.
OpenView’s recent investment of growth capital, together with its earlier stock purchase from a prior investor, brings OpenView’s total investment to USD9.5m.
Kareo will use the new capital to enhance customer service, expand its product suite, build out sales and marketing initiatives, and bolster its management team.
In connection with the investment, Adam Marcus, a principal at OpenView Venture Partners, has joined Kareo’s board of directors.
"Kareo is growing quickly because we offer a solution
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