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Accel-KKR, a technology-focused private equity investment firm, has reached a definitive agreement to sell iTradeNetwork, a provider of supply chain management software and business intelligence solutions to the food industry, to Roper Industries for USD525m in cash.
iTradeNetwork’s solutions allow distributors, manufacturers, operators, retailers, suppliers and wholesalers to reduce cost, grow revenue and strengthen trading partner relationships.
It has more than 6,200 customers, including 16 of the top 20 food retailers/wholesalers, 75 of the top 100 food manufacturers, 50 of the top 50 distributors, eight of the top 20 restaurant chains and four of the top six foodservice management companies.
The Dodd-Frank Wall Street Reform and Consumer Protection Act will significantly change the regulatory regime governing investment advisers, particularly investment advisers to private funds, such as hedge funds and private equity funds, a report by law firm Pillsbury says.
The primary purpose of the new rules and requirements is to “fill the regulatory gap,” by requiring advisers to private funds to register as investment advisers with the Securities and Exchange Commission or state securities regulators, unless an exemption applies, and provide information about their activities to the SEC.
Currently, advisers with USD25m or more of assets under management may register
Buyouts drove the momentum in the European private equity market in the first half of 2010, with activity levels rising 56 per cent to 167 deals from 107 deals in the first half of 2009, a report by Candover shows.
In value terms, buyouts quadrupled to EUR20.7bn in H1 2010, from EUR5.3bn in H1 2009.
Volumes in Q2 2010 rose from 95 to 72, with value totalling EUR11.2bn, up from EUR9.5bn in Q1.
The increase in buyouts has been driven by the EUR100m to EUR1bn mid-market segment, which recorded 32 deals in Q2 2010, up 68 per cent from Q1.
Graphite Capital, a UK mid-market private equity firm, is backing the GBP45m management buyout of Teaching Personnel, the UK’s third largest provider of supply teachers and support staff to schools, from private equity managers RJD Partners.
Graphite and the Teaching Personnel management team plan to develop the business through a combination of organic growth, strategic acquisitions and a broadening of its service offering.
Clydesdale Bank Corporate & Structured Finance is providing acquisition finance and working capital facilities.
Graphite has acquired a significant majority stake and the management team is re-investing a substantial proportion of its proceeds in the business.
Augmentum Capital, a growth capital fund backed by RIT Capital Partners, and Revere Capital Advisors have made an investment in SRL Global, a technology partner to pension funds, insurance companies, endowments and large family offices.
Augmentum and Revere led a GBP7.5m funding round in the company in exchange for an equity interest. Both investors will join the board at SRL Global.
Initially established in 2007 as a trading and technology joint venture with Man Group to develop a proprietary enterprise investment platform for the company, SRL Global was spun out by the management team as an independent operating entity in
TLG Capital has closed its first deal in India with Re-feel Cartridge Engineering.
The company is India’s largest and fastest growing printer cartridge refill and laptop repair services’ company.
Re-feel’s cartridge refilling service costs a third of the original manufacturer’s price.
Re-feel’s wholly-owned ClubLaptop subsidiary will offer laptop repairs at half the price of the original manufacturer. ClubLaptop will have set up over 300 local repair stores nationwide by 2013.
Zain Latif (pictured), principal of TLG Capital, says: “Not only is Re-feel’s distribution network within India phenomenal, the environmentally-friendly aspect of reusing cartridges fits in well with our double-bottom-line agenda.
Emerging Capital Partners, a private equity firm focused on investing across the African continent, has held the final close of its ECP Africa Fund III PCC with total commitments of over USD613m.
Africa Fund III, one of the largest funds ever raised for investment across the African continent, marks the seventh fund managed by ECP, bringing the firm’s total capital raised to more than USD1.8bn, with more than USD1bn invested to date.
Africa Fund III will seek controlling stakes or influential minority positions in high growth companies through equity and quasi-equity investments including convertible debt instruments. The fund targets companies
New Rise Investments, a real estate syndication company, has launched an e-book entitled “Emerging Real Estate Markets: A Primer for Private Equity Investors”.
The e-book can be downloaded at the New Rise Investments website.
In this free-book, New Rise Investments gives high net-worth individuals a different alternative to the ups and downs of the stock market: investing in multi-unit apartment buildings in emerging real estate markets.
High net-worth investors will learn why emerging real estate markets represent an untapped investment resource and how they can use this knowledge to create a portfolio that delivers a consistently high rate of return.
Colorado State University and CSU Ventures have created CSU Fund I, a private equity investment fund that will help advance early-stage companies associated with CSU.
CSU Fund I held its final close on 31 March. The fund has already made one investment and is evaluating several other investment opportunities.
The fund is managed by CSU Management, a subsidiary of the private, non-profit CSU Ventures, which helps the university to commercialise new research innovations associated with business development, global partnerships and commercialisation activities.
“This resource offers a critical piece of the puzzle for accelerating our cutting-edge research,” says Tony Frank (pictured),
Private capital veteran Karl Beinkampen has been named chief investment officer of Wilshire Private Markets.
Beinkampen joins Wilshire Associates from Morgan Stanley, where he was a managing director of the firm’s Alternative Investment Partners team.
In his new role, Beinkampen will guide the investment efforts of Wilshire Private Markets in order to best serve the portfolio needs of institutional investors. The group currently has five offices in the US, Europe, Asia and Australia, and manages nearly USD6bn of client assets, investing and serving clients within each of those regions.
“Karl’s 18 years of experience working with private equity sponsors makes
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