Summer Street Capital Partners, a private equity fund based in Buffalo, New York, has completed an equity investment in Action Environmental Services, a provider of waste management services for the business community in the City of New York. The investment will support the acquisition of select New York City assets from Republic Services. "The addition of these assets, including two transfer stations, positions Action to serve our customers more effectively in the highly competitive and demanding New York City market," says Ron Bergamini, Action’s chief executive. "We look forward to continuing to provide the local university, hospital, sports stadium, and

Royal Philips Electronics has joined Gilde Healthcare III, a new venture capital fund focusing on early and growth stage healthcare technology companies in Europe and the US. Philips is investing in Gilde Healthcare III in order to foster innovation in areas of strategic interest to its healthcare business. The fund will be fully independent of Philips’ existing innovation efforts, including the Philips Healthcare Incubator. “Over the past years the venturing community has been instrumental in bringing breakthrough healthcare innovations to the market,” says Steve Rusckowski, chief executive of Philips Healthcare. “Through our participation in the Gilde Healthcare III venture capital

CreditMax, an electronic exchange for the sale and purchase of distressed consumer debt, has received a growth equity investment from PPF Finance, a subsidiary of PartnerRe, and Metropolitan Equity Partners. The investment is designed to enable the expansion of CreditMax’s NDSE Trading Platform and the launch of CreditMax’s debt lending programme for qualified debt buyers. CreditMax’s NDSE exchange enables sellers to list debt for sale on a national, regional, state, local, or account-specific basis. The platform enables buyers to identify and analyse portfolios and to acquire those assets that have the most value to them. The capital investment is being

Si-Bone, a medical device company that is pioneering the use of a minimally invasive surgical device to treat the sacroiliac joint, has closed USD11.0m in financing for expansion of clinical and commercial operations. The financing round was led by new investor Skyline Ventures of Palo Alto, California. The primary purposes of the financing are to increase investment in worldwide sales and marketing operations; expand the company’s clinical efforts through a retrospective minimally invasive surgical sacroiliac joint treatment study, a prospective multi-centre study, a European prospective study, additional post-market case studies and an animal study validating arthrodesis with the iFuse implant

Energy Capital has held the final close of Energy Capital Partners II, a private equity fund focused on the acquisition, development and construction of North American energy infrastructure assets. The fund will primarily invest in assets in the fossil and renewable power generation, electric transmission and midstream gas sectors. Doug Kimmelman, Energy Capital’s senior partner, says: "We are appreciative of the support and trust of our many limited partners and we look forward to providing attractive investment returns across an energy landscape with accelerating capital demands." Fund II has made several investments to date, including the completed acquisition of three

Guernsey and UK industry experts will be presenting in London during September to showcase the island’s solution for tackling the financial aspects of film making. The seminar is being held in the screening rooms at the Charlotte Street Hotel on 30 September and will feature Stephen Margolis, chief executive of Future Films. It is being hosted by Guernsey Finance, the joint government and industry body responsible for promoting the island’s finance industry internationally, in conjunction with Guernsey Film. Guernsey Film was formed earlier this year by a group of finance industry professionals and the Guernsey government to act as a

Volatility, which has been going back down for a few weeks, in connection with rising share prices and the improved IPO climate expected by market participants all point to an increase in IPOs over the next few months, according to Deutsche Börse. All in all, the environment for IPOs appears to be steadily improving. The uncertainties on the markets for European government bonds triggered not least by crisis seem to have abated. The IPO indicator, which is published each quarter, is a measuring instrument for companies seeking capital that aim to go public and that are looking for the right

Real estate investment and services firm Kennedy Wilson has sold and issued 32,550 shares of its convertible series B preferred stock in an equity private placement to Toronto-based Fairfax Financial Holdings. The proceeds from the offering, totaling USD32,550,000, were used to finance the company’s repurchase of its seven per cent convertible subordinated debt. The series B preferred stock is convertible into approximately three million shares of Kennedy Wilson common stock, the same number of shares into which the recently retired seven per cent convertible subordinated debt was convertible. "We are very pleased about Fairfax’s continued investment in Kennedy Wilson," says