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Maven Capital Partners has completed two exits on behalf of Capital for Enterprise Fund A.
The GBP75m Capital for Enterprise Fund is a government backed initiative launched in 2009 to help small to medium sized enterprises gain access to the financial support required to bridge the funding gap caused by the credit crisis.
Maven has completed 17 investments since August 2009 across the UK, investing around GBP26m to date.
The realisations of Documetric and Vero are the first for Capital for Enterprise Fund A.
In December 2009 Maven led a GBP2m mezzanine investment on behalf of Capital for Enterprise Fund
Private equity firm SunTx Capital Partners acquired a majority interest in Carolina Beer & Beverage, an independent contract beverage manufacturer based in Mooresville, North Carolina.
Financial terms of the transaction were not disclosed.
Carolina Beer & Beverage was founded in 1997 by J. Michael Smith and John Stritch. The duo acquired the rights and formula to the Carolina Blonde and Cottonwood Ales beer brands.
Smith will continue to serve as chief executive of the company.
“We are very excited about this partnership with SunTx Capital, which has a long track record of growing businesses, while building value and creating attractive
TerraNua, a provider of investment compliance solutions, has launched a new version of MyComplianceOffice for hedge fund and private equity firms.
The new version features the Compliance Program Wizard, a module that allows firms to build their compliance programme while simultaneously automating all their compliance activities.
MyComplianceOffice enables firms to build a compliance management programme combining approvals and affirmations, attestations, task management and workflow, certifications, code of ethics, personal trading, policy and procedure management and case management.
The system also offers a dashboard view of the entire compliance programme which provides firms with quick access to critical data.
“Unregistered
Securities and investment banking firm Jefferies has appointed Kamlesh Bhatia as a managing director responsible for private placement origination within the firm’s equity capital markets group.
Bhatia brings to Jefferies more than ten years of investment banking experience, including five years in the equity capital market groups at Piper Jaffray and Bank of America Merrill Lynch where he originated, structured and executed over USD3bn of privately negotiated equity and equity-linked transactions for public and private clients.
Prior to this, Bhatia spent four years in investment banking at Donaldson, Lufkin & Jenrette and Credit Suisse First Boston.
“Kamlesh Bhatia’s expertise in
Starwood Capital Group, a private equity firm focused on real estate and energy investing, is hiring Rodolfo Senra and Vitor Senra to open the firm’s first office in Brazil headquartered in Sao Paolo.
As directors of Starwood Capital do Brasil, the two executives will be responsible for expanding Starwood’s presence in Brazil, leading its acquisition and asset management activities there and managing the Brazil asset management group.
Rodolfo and Vitor Senra both join Starwood Capital do Brazil from Sollers Investimentos, a Brazilian real estate investment firm focused on the office, warehouse and residential markets. The two men founded the firm
New York Pacific Capital has signed a memorandum of understanding with the Beijing Municipal Bureau of Finance for the establishment of an RMB-denominated private equity fund in Beijing.
According to the memorandum, the fund will invest primarily in high growth Chinese companies in the healthcare, cleantech, education/culture and consumer products sectors.
David Kopp, chief executive of NYPC, says: "We are very pleased to execute this MOU and look forward to working with local SMEs to help nurture them into leading companies. Under our cooperation agreement, the fund will prioritize investments in Beijing-registered and government-supported companies to enhance the industry structure
Overall US private equity performance showed positive returns across all investment horizons and turned sharply positive in the one-year time horizon for the period ending 31 March 2010, according to Thomson Reuters.
With improving stability in the broader capital markets and a return for venture capital and private equity IPO and M&A exits, near-term horizon returns saw marked improvements over last quarter.
The ten-year time horizon for venture capital funds demonstrated weakening trends from last quarter and a year ago, registering negative investment returns as the cash flows and corresponding valuations seen in 1999 are no longer included in the
Mountain Acquisition and Mountain Merger Sub, affiliates of Vestar Capital Partners V formed for the purpose of acquiring HealthGrades, have commenced a tender offer to acquire all of the outstanding shares of HealthGrades’ common stock for USD8.20 per share in cash.
The aggregate purchase price for the equity of HealthGrades is approximately USD294m, which consists of approximately 35.9 million shares.
HealthGrades is an independent healthcare ratings organisation, providing ratings, profiles and cost information on US hospitals, physicians, nursing homes and prescription drugs.
In connection with the tender offer, Mountain Acquisition has been granted early termination of the waiting period under
Investment banking firm Evercore Partners has appointed Lincoln C. Singleton as a managing director in the firm’s private funds group.
Singleton will be based in Evercore’s New York office where he will be responsible for managing the group’s relationships with limited partners in the south-east and Texas.
Previously, he was a managing director at Durham Asset Management, the distressed credit manager, where he played a significant role in increasing its assets under management from USD420m to USD1.35bn.
Singleton’s appointment strengthens Evercore’s private funds group in North America and builds on the recent hire of Christian von Massenbach as a vice
Nigel Strachan, Head of New Business for corporate clients at Kleinwort Benson (pictured above left), has been appointed Chairman of the Jersey Funds Association and Edward Devenport (pictured above right), partner at Mourant Ozannes, takes on the role of Vice Chairman.
The Jersey Funds Association (JFA) is a trade association representing companies with Jersey offices operating in the funds sector. The Association has over 70 members; membership spans from small Jersey-owned companies to global leaders such as State Street and JP Morgan.
Strachan and Devenport have been active members of the Jersey Funds Association committee for several years, working on
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