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Private equity firm Riverside has completed its first exit of 2010 with the sale of environment consulting company Entrix to Australian company Cardno.
Founded in 1984, Entrix has 33 offices in 17 states and three countries and offers environmental and natural resource management consulting services.
Under Riverside’s ownership, Entrix expanded its geographic footprint, increased its range of services and more than doubled its revenue.
During its seven-year hold period, Riverside completed three strategic add-on acquisitions to the Entrix platform.
Through this exit, Riverside has achieved a 2.8x gross cash-on-cash return.
Anne Hayes, Riverside partner, says: “We’re proud of the
Private equity firm Riverside has acquired Lewis Computer Services as an add-on acquisition to the Healthcarefirst platform.
Founded in 1984, Lewis provides software and complementary products designed to help home care companies manage their businesses and clinical operations.
This is Riverside’s 43rd healthcare acquisition. It is part of the Riverside Micro-Cap Fund, which seeks fast-growing North American micro companies.
Riverside says Lewis’ products provide an opportunity to cement Healthcarefirst’s product line. The acquisition also opens new opportunities for Healthcarefirst as well as for Healthcarefirst’s and Lewis’ respective customers.
Healthcarefirst provides web-based software and services to the US home care
The International Organization of Securities Commissions has published its revised Objectives and Principles of Securities Regulation to incorporate eight new principles, based on the lessons learned from the recent financial crisis and subsequent changes in the regulatory environment.
The eight new principles cover specific policy areas such as hedge funds, credit rating agencies and auditor independence and oversight, in addition to broader areas including monitoring, mitigating and managing systemic risk; regularly reviewing the perimeter of regulation; and requiring that conflicts of interest and misalignment of incentives are avoided, eliminated, disclosed or otherwise managed.
The principles, which are an agreed set
Soonr, a provider of cloud applications for protection and synchronisation of critical files and mobile productivity, has secured an additional USD4.5m of financing from existing investors and HighBAR Ventures, an early stage and structured venture capital firm.
The funding will be used to grow sales, marketing and partnership efforts and to accelerate the company’s continued expansion into new markets.
“Soonr is a pioneer in cloud backup and synchronisation and has a successful track record of working with service providers around the world,” says John Kim, managing partner at HighBAR Ventures. “Our investment will allow Soonr to accelerate its partnership strategy
Argosy Capital, an investment fund manager focused on lower middle market operating companies and real estate, has held the final close of Argosy Investment Partners IV at USD180m.
The close of the fund brings the total assets under management by Argosy Capital to more than USD500m.
The close of this fourth private equity investment fund coincides with the 20th anniversary of Argosy Capital.
"This closing validates Argosy Private Equity’s commitment to generating exceptional results using our consistent strategy and years of experience to identify and substantially grow manufacturing and business services companies," says Kirk Griswold, founding partner, Argosy Capital.
Dechert plans to open an office in Dublin, making it one of a handful of international law firms to establish a presence in Ireland and the first major onshore transatlantic funds practice to do so in Dublin.
The office will focus on advising investment funds, their investment managers and other fund service providers.
Ireland has become a major centre for investment funds because of favourable tax treatment, regulatory structures, expertise of local service providers and appeal to investors concerned about sound regulatory oversight.
Declan O’Sullivan (pictured), who previously led the alternative investment practice at Irish firm William Fry, has joined
Investment managers must take lessons from the credit crunch to their portfolios, Collins Stewart’s global strategist told a wealth management conference in Guernsey this week.
Modern portfolio theory failed prior to the crisis because it did not account for the fact that at times of extra stress risk levels rise and correlations are not constant, according to Robert Jukes, a strategist who works with portfolio managers and stockbrokers at Collins Stewart Wealth Management.
“The volatility of combined portfolios was more than expected and drawdowns were larger than expected,” he said. “The problem must be tackled head on with models
NB Distressed Debt Investment Fund has raised USD197.2m and unconditional dealings in its ordinary shares will commence trading on the Specialist Fund Market of the London Stock Exchange today.
NB Distressed Debt Investment Fund is a closed-ended investment company incorporated in Guernsey.
The company is managed by Neuberger Berman Europe, an indirect wholly-owned subsidiary of the Neuberger Berman Group.
The company intends to invest the IPO proceeds in approximately 40 to 50 holdings diversified across distressed, stressed and special situations investments, with a focus on senior debt backed by hard assets to attempt to limit downside risk. At least
Healthrageous, a personalised health technology company, has completed a USD6m series A financing led by North Bridge Venture Partners along with investment partners Egan Managed Capital and Long River Ventures.
Proceeds will be used to commercialise a health technology platform that provides personalised, interactive, motivational self-management tools which help individuals shed unhealthy habits, improve their adherence to medical advice, and embrace healthy lifestyles.
Healthrageous combines wireless biometric sensors, smart phones, individualised coaching, incentive programmes and social network support.
Its technologies were developed and tested at the Center for Connected Health, a division of Partners HealthCare, founded by Brigham and Women’s
With the credit-led crisis that brought the onward global march of the private equity industry to a screeching halt two years ago now starting to fade into the background, activity in the sec
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