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Private investment firm H.I.G. Capital’s affiliate Excel Homes Group has acquired substantially all the assets of Excel Homes, a US-based custom modular home manufacturer.
Steve Scheinkman will become chief executive of Excel.
Matt Sanford (pictured), managing director at H.I.G. Capital, says: "The housing and construction markets will undoubtedly rebound from historic lows in the coming years, and we believe Excel is well-positioned to benefit when they do. Unlike in Canada and Europe, in the US few people realise the significant cost and quality advantages of modular construction over traditional site-built methods. We believe that under Steve’s leadership the existing team
Morgan Stanley Alternative Investment Partners has raised USD585m in commitments for its Global Secondary Opportunities Fund, a fund dedicated to acquiring interests in private equity funds in the secondary market.
The capital raised exceeded Morgan Stanley Investment Management’s initial USD500m target.
"This successful fund raise demonstrates how MSIM leverages its competitive strengths and draws upon the full depth of resources at Morgan Stanley to deliver compelling investment solutions to our clients," says Gregory Fleming, president of Morgan Stanley Investment Management. "As an integrated platform participating in both the primary and secondary markets, AIP is well-positioned to employ its differentiated investment
Track-Life has launched a web portal that changes the way portfolio managers can view critical information within a life insurance settlement portfolio.
Transparent Life Plus is the first life settlement tracking and servicing system that offers real-time information and statistics on insurance policies held within a life settlement portfolio.
Track-Life, launched in 2008 by executives from The Lifeline Program, has recently entered into an operating alliance with Madison Strategic Partners to broaden its servicing and tracking offerings.
Using Transparent Life Plus, portfolios can be analysed by policy size or type, policyholder demographics, premium amounts due, and dozens of other criteria.
Law firm Eversheds has appointed Steven Geerlings and Paul-Michael Rebus in a move to strengthen the firm’s City banking and finance offering.
Geerlings specialises in asset based lending acting for ABL providers on a Pan European basis.
Rebus (pictured) has established City and international credentials in structured finance, securitisation and international capital markets.
Simon Waller, head of Evershed’s finance group, says: “For some time now we have been looking to expand into the areas that Steven and Paul-Michael concentrate on and we are taking this opportunity to invest in two high calibre individuals who will complement a strong existing
Axa Private Equity, a European private equity firm, has signed an agreement to acquire GO Voyages, the French online retailer of air tickets.
Following this investment, Axa Private Equity will hold the majority of the equity of GO Voyages alongside the management team and staff, who will have a significant interest in the company.
GO Voyages had sales of EUR843m in the 2009/2010 financial year, up 21 per cent year-on-year. It has just launched an online holiday offer on the French market.
Lise Fauconnier, managing director at Axa Private Equity, says: “We will actively support GO Voyages’ management
EF Johnson Technologies has entered into a definitive agreement to be acquired by an affiliate of Francisco Partners, a technology-focused private equity fund.
Headquartered in Irving, Texas, EF Johnson Technologies focuses on developing and marketing the secure communications solutions to organisations whose mission is to protect and save lives.
The company’s customers include first responders in public safety and public service, the federal government, and industrial organisations.
The agreement was unanimously approved by EF Johnson Technologies’ board of directors.
Under the terms of the agreement, stockholders would receive USD1.05 per share in cash at closing.
The transaction is subject to
Alternative asset manager The Carlyle Group deployed USD5.2bn in equity in 2009 on six continents across buyouts, real estate, growth capital and distressed.
The firm has USD33.5bn in equity capital (dry powder) ready to deploy.
Despite the challenges in the fundraising markets, Carlyle conducted final closes on nine funds, raising a total of USD15.6bn in capital from January 2009 through March 2010.
David M. Rubenstein, Carlyle co-founder and managing director, says: “We are pleased to provide to our investors and the public our tenth consecutive annual report. In it, we explore the four attributes – financial strength, product diversity, sector
SEI has partnered with the Burgiss Group to enhance its private equity platform by providing new levels of transparency and reporting to its private equity fund of funds clients.
SEI will use Burgiss’ technology to deliver detailed financial reporting data of the underlying portfolio company in a convenient online format.
The new capabilities meet an ongoing demand for increased transparency and reporting data to fund of funds managers and their investors.
Through the partnership, SEI and its clients gain immediate access to reporting on the underlying private equity funds in the Burgiss Group’s database.
SEI will integrate Burgiss’ proprietary
The 2010 Guernsey Funds Forum on 26 May in London will bring together industry experts to debate the implications of the British General Election. Hosted by ITV News Anchor, Alastair Stewart and with prominent panellists such as John Moulton the event…
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Austin Ventures, a venture capital and growth equity firm, has added Adam Dell as a venture partner.
Dell has been a successful entrepreneur and academician, and has more than 12 years of experience in the venture capital industry.
Dell will focus purely on early-stage venture investments in the information technology and business services areas.
"I have known the team at Austin Ventures for years. They have a stellar track record and a commitment to excellence. It’s a pleasure to join such a well-respected firm," says Dell.
Most recently, Dell was founder and managing general partner of Impact Venture Partners, a
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