After a ten month due diligence and integration process, Prepaid Card Holdings’ operating subsidiary has launched and is currently issuing and managing prepaid card programmes on a Tier 1 processor. The operating subsidiary first began issuing prepaid debit cards in February 2008 on another processing platform. The company believes the launch on a Tier 1 processing platform is an important asset to the company’s future and a condition precedent to its ability to attract an institutional investment in today’s market.  “A prepaid debit card company must have a reliable institutional size processor if it wants to attract an institutional investment.

A group of insurance brokerage firms has launched Equity Risk Partners Global, an insurance broker alliance focused exclusively on the needs of the private equity sector. ERP Global is comprised of international brokerages in countries where there is a significant amount of private equity activity. The ERP Global concept is the creation of Equity Risk Partners, a US-based insurance brokerage and risk management consulting firm that has been servicing the needs of the private equity industry for over a decade. "We are excited to be a part of this landmark alliance that connects insurance brokers and private equity firms on

Ontex, a European private label hygienic disposables manufacturer, has been sold to GS Capital Partners and investment funds managed by TPG Capital for EUR1.2bn. This deal is the largest ever private equity transaction in Belgium. The transaction, which is subject to customary regulatory approvals, is expected to be completed before the end of the year.   Sales across Ontex’s three divisions – retail, healthcare, and Turkey regional – totalled EUR1.1bn in 2009.   The retail division primarily supplies private label products including disposable diapers, feminine care products and adult incontinence products to retailers, supplying Europe’s leading retailers.   The healthcare

NBTY, a manufacturer and marketer of nutritional supplements, has signed a definitive merger agreement under which The Carlyle Group will acquire NBTY in a transaction valued at USD3.8bn. Under the terms of the merger agreement, Carlyle will acquire all of the outstanding common shares of NBTY for USD55.00 per share in cash, representing a premium of approximately 57 per cent over NBTY’s average closing share price during the 30 trading days ended 14 July 2010. The board of directors of NBTY has unanimously approved the merger agreement and recommended that NBTY’s stockholders adopt the agreement with Carlyle. A special meeting

Private equity firm Riverside has acquired Tropikal, an Istanbul, Turkey-based pet food company. Tropikal began as a distributor for international pet care brands like Sport Mix, Pro Pac and Beaphar. In 2005, the company became the first domestic pet food producer in Turkey and launched its own product range when it established a dry pet food factory in Istanbul with an annual capacity of 7,500 tons. Tropikal’s top-selling products are Goody and Champion. The founders will continue as minority investors in the business together with Riverside, while the chief executive and other top management will remain with Tropikal. Adam Pietruszkiewicz,

HarbourVest Global Private Equity, a closed-end investment company, had an estimated economic net asset value of USD709.4m or USD8.55 per share as at 30 June 2010.  This represents a 1.1 per cent decrease from the 31 May 2010 estimated economic NAV per share of USD8.64.  This change resulted from a gain accrued upon the purchase of a new secondary investment, offset by public holding decreases, foreign currency movement, operating expenses, and non-recurring expenses reflecting all costs associated with the liquidity plan. During an active month for cashflows, HarbourVest funded USD25.2m of capital calls (up from USD8.0m in May) and received

Atlassian, a Sydney-based provider of software tools for streamlining product development, has closed a USD60m investment from Accel Partners for a minority equity position. Rich Wong (pictured), partner at Accel Partners, will join Atlassian’s board of directors. The funds will help Atlassian expand into Europe and Asia, while additional focus on M&A will add complementary products to the Atlassian portfolio. The investment will also be used to facilitate liquidity for employees. Atlassian was co-founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, who will continue as co-chief executives of Atlassian. Atlassian has 225 employees based in Australia, North America and

Venture capitalists in the US expect their industry to contract while those in emerging markets, including China, India and Brazil, expect to see their ecosystem expand over the next five years, according to the 2010 Global Venture Capital Survey by Deloitte and the National Venture Capital Association. According to the survey results, more than 90 per cent of US survey respondents expect the number of venture firms to decrease between now and 2015, while a majority of venture capitalists in China, India and Brazil anticipate adding more venture firms in their country during the same time frame. Venture capitalists in