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GenNx360 Capital Partners, a private equity firm focused on industrial business-to-business companies with USD75m to USD500m in revenues, has acquired Maine Machine Products, a manufacturer of precision components and assemblies for the defence, oil and gas, and semiconductor industries.
Terms of the transaction were not disclosed.
Maine Machine Products operates a temperature controlled, 65,000 square foot building which includes a hard wall Class 1000 Clean Room.
Services include concept development, precision machining, and vertical integration. The company is certified to both ISO 9001:2000 and AS9100 standards.
GenNx360 purchased 100 per cent of Maine Machine Products’ shares from founder Roland L.
Key Principal Partners, a USD1bn private investment firm, has invested USD15m in Ice River Springs Water to support a capital expenditure programme and facility expansion that will allow the company to produce recycled PET resin.
The recycled PET pellets will be made entirely from post-consumer materials, which Ice River will then use in the production of its own water bottles.
Headquartered in Ontario, Ice River Springs is a North American environmentally-conscious bottled water company with seven manufacturing plants located throughout Canada and the US. The company primarily provides spring and purified, private label bottled water to both national and regionally-focused
SS&C Technologies, a provider of financial services software and software-enabled services, has launched Risk Analytics, an independent investment risk analysis solution for hedge funds, fund of funds, private equity funds and managed accounts.
The new risk management tools, fully integrated with SS&C’s proprietary accounting and derivatives platform, provide SS&C’s clients daily and monthly risk reporting as part of SS&C’s middle and back office fund administration services.
Risk Analytics is also available as an in-house solution.
"Fund managers and administrators continue to be challenged to manage risk, reduce costs and grow with transparency and control," says Bill Stone, chairman and chief
Alternative asset manager The Carlyle Group will acquire a controlling stake in Grupo Qualicorp, a provider of brokerage, consultancy services and management of private health insurance plans in Brazil.
As part of the transaction, minority shareholder General Atlantic will sell 100 per cent of its shares in Qualicorp to Carlyle and exit the investment.
Financial terms were not disclosed. The transaction is expected to close in August subject to Brazilian regulatory approval.
“Carlyle’s global footprint, financial strength and track record in the management of healthcare companies are great assets to Qualicorp,” says Heráclito Brito, Qualicorp chief executive, who will remain
Lloyds TSB Corporate Markets acquisition finance has appointed Jeremy Perl as a deal director for its mid-market team in London.
He will report into Ian Sale.
With over 18 years of experience at Lloyds Banking Group, Perl joins from the Lloyds TSB Corporate Markets’ growth finance team where he originated and structured debt packages for early stage or turnaround businesses.
Prior to this, he spent a number of years working as head of the UK mid-market team at Lloyds TSB Loan Syndications and has experience at LDC, as well as in the debt capital markets and equity capital markets divisions.
Green private equity is on the agenda of virtually all institutional investors, with more than 90 per cent wanting exposure to the sector, according to a new survey.
The level of interest and commitment varies markedly across institutional investors, with most taking a cautious but positive step into the green sector.
However, there is strong expectation in the private equity industry that the performance of green investments will improve over the next few years and that increased institutional allocations will follow.
The challenge for green private equity and venture capital managers is to accelerate the current levels of interest and
Vision Capital Advisors, the investment manager to Vision Opportunity China Fund, plans to open an office in Beijing in quarter four 2010.
The office will be administered by Antti Uusiheimala, a member of Vision’s investment team who joined the firm when it was founded in 2005. Uusiheimala has over seven years of experience in investment and business development.
Uusiheimala will be joined full-time in Beijing by two new hires, Stuart Bradley and Jie (Jerry) Xu.
Bradley is joining Vision as a director where he will primarily be involved in business development, due diligence and portfolio monitoring. He has over seven
Castle Harlan Partners IV has agreed to sell Ames True Temper, a North American manufacturer and marketer of non-powered lawn and garden tools and accessories, to Griffon for USD542m.
Griffon is a diversified management and holding company based in New York.
Its businesses include Telephonics, which produces information, communication and sensor systems; Clopay Building Products, maker of commercial and residential garage doors; and Clopay Plastic Products, producer of specialty plastic films for hygienic, healthcare and industrial applications.
Ames True Temper is based in Camp Hill, Pennsylvania, and its customers include national retailers such as The Home Depot, Lowe’s and Walmart,
Dominion Corporate Group, a provider of management and administration services to corporations and institutional clients, has opened its Luxembourg office.
The extension of Dominion’s operating platform provides clients with a service that meets demand for onshore, offshore and combined structures.
Dominion Corporate Group provides a full range of corporate services including domiciliation, incorporation and management services.
A key attraction of Luxembourg is the Soparfi, an ordinary company which, beside its holding activity, can carry out or take part in other activities such as financing or real estate. Soparfi can benefit from Luxembourg’s network of double taxation treaties and European tax
LaCrosse Global Fund Services has agreed to acquire the global alternative fund administration business of Bank of America Merrill Lynch, subject to regulatory approval.
Terms of the deal were not disclosed.
Once the acquisition is complete, LaCrosse will have more than USD21bn in assets under administration and more than 250 employees.
Bank of America Merrill Lynch continues to provide a range of other services to hedge fund clients, including prime brokerage, custody, trust, escrow, cash management and agency services.
“Our company offers the most complete set of administration, operations and middle-office services in the industry,” says Stuart Feffer, LaCrosse Global
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