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GSO Capital Partners, the credit business of The Blackstone Group, has held the final closing of the Blackstone/GSO Capital Solutions Fund with total commitments of over USD3.25bn.
The fund’s strategy is focused on providing privately negotiated capital solutions to companies in need of liquidity or significant capital structure transformation due to pending covenant violations, debt maturities, cyclical downturns in their businesses or other funding requirements.
The strategy leverages GSO Capital Partners’ distressed, credit and trading expertise, along with its deal origination capabilities.
Thus far, the fund has invested approximately USD600m in seven different companies.
Bennett Goodman, senior managing director of
Scytl, a Barcelona-based provider of internet voting technology, has closed a USD9.2m investment led by Balderton Capital, one of Europe’s largest venture capital investors, and supported by Nauta Capital, an existing investor in Scytl.
The investment will enable Scytl to consolidate its position in the electronic voting market and support its international expansion, primarily in the US.
Scytl’s secure technology has been used by 13 out of 16 of the countries worldwide who have introduced electronic voting in their public elections. Countries are moving to adopt internet voting systems because of the advantages they offer in terms of cost, efficiency,
Maven Capital Partners as joint manager of the Capital for Enterprise Fund is investing up to GBP1.5m in Adam Communication Systems International, a UK based provider of building energy management systems and associated energy management services.
Adam’s products and services allow its customers to reduce energy costs, carbon emissions and to comply with recent legislation in this area.
The GBP75m Capital for Enterprise Fund is a government backed initiative launched in 2009 to help small and medium size enterprises in the UK gain access to the financial support required to bridge the funding gap caused by the credit crisis. In
LDC has completed the acquisition of Computer Recognition Systems on behalf of its portfolio firm Vysionics, a group of businesses supplying traffic management systems.
Vysionics was formed by LDC in February 2010 to acquire Speed Check Services, a supplier of average speed camera systems.
In addition to providing GBP9m of development capital to accelerate the expansion strategy of Speed Check Services, the private equity house has now funded Vysionics’ acquisition of Computer Recognition Systems, a company which provides traffic surveillance systems including automatic number plate recognition software and hardware.
Its technology is used around the world by civil and criminal
Investors have turned bearish in their outlook for the global economy and corporate earnings, according to the BofA Merrill Lynch survey of fund managers for July.
The survey shows a net 12 per cent of respondents predicting the global economy will deteriorate in the coming 12 months, the first negative forecast since February 2009.
This represents a big turnaround from June when a net 24 per cent forecast the economy to strengthen.
A net four per cent of the panel expects corporate profits to worsen in the coming year, also the first negative outlook in more than a year.
Stag Capital Partners, a real estate company focused on the acquisition, ownership and management of single-tenant industrial properties throughout the US, and GI Partners, a trans-Atlantic private equity firm, have formed a joint venture to invest up to USD200m to acquire individual single-tenant net leased industrial properties throughout the US.
This new platform investment continues the execution of Stag Capital’s investment strategy to acquire and manage assets predominately located in secondary markets with purchase prices ranging from USD5m to USD20m.
Stag Capital, headquartered in Boston, Massachusetts, actively acquires single-tenant, net leased properties via third party transactions and corporate sale-leasebacks to
Yangtze China Investment, a provider of expansion capital to China-based enterprises, had a net asset value per share of USD0.94 for the year ended 31 March 2010, a decrease of 3.1 per cent from the previous year.
The company’s total net asset value stood at USD23.8m, down from USD24.5m in 2009.
Current cash and cash equivalents total USD6.0m.
Wilfred Wong, chairman of Yangtze China Investment, says: “Although Yangtze recorded a decline of 3.1 per cent in NAV per share for the financial year ended 31 March 2010, the beauty spa franchise network Yangtze invested in has continued to operate with
Global mergers and acquisitions activity totalled USD881bn in the first half of 2010, up 7.8 per cent from the first half of 2009, a report by mergermarket shows.
Deal count is also up by 13.3 per cent at 5,026 announced deals.
Brunswick Group and FD were the leading PR advisers, by value and volume respectively, to global M&A in H1 2010. The firms also topped the European tables, while FD was the leader by volume in Asia Pacific (ex. Japan).
The US tables were led by Joele Frank Wilkinson Brimmer Katcher and Kekst and Company.
Private equity backed buyouts maintained
Starwood Capital Group, a private equity firm focused on real estate and energy infrastructure, has appointed Sundaram V. Rajagopal as managing director, India and Southeast Asia, Starwood Capital India Advisors.
Rajagopal will lead all acquisition and asset management activities for Starwood Capital in India and Southeast Asia and will manage the team based in Mumbai, India.
Rajagopal brings more than 17 years of real estate experience to the position, including nearly ten years executing real estate investments in India. He previously worked at Starwood Capital Group from 2002 to 2005.
Since opening its office in Mumbai in 2006, Starwood
Monomoy Capital Partners, a New York private equity fund, has acquired the assets of the Heat Transfer Products Group of Carrier Corporation.
HTPG is a USD90m manufacturer of highly-engineered refrigeration condensing units, evaporator coils and air cooled condensers for the food service, food retail and other non-consumable markets.
Headquartered in Brea, California, HTPG employs more than 500 associates and operates manufacturing and distribution facilities in Scottsboro, Alabama and Yuma, Arizona.
HTPG is a new platform acquisition for Monomoy’s current fund vehicle.
“We are very excited about the acquisition of HTPG. The company is a market leading business that is the
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