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Palamon Capital Partners, a European mid-market private equity firm, has sold its majority stake in Stockholm-based Nordax Finans to Vision Capital, a European investment firm.
The transaction, valuing Nordax at EUR105m, is subject to approval by the Swedish Financial Supervisory Authority.
Nordax provides unsecured loans to individuals of good credit standing across the Nordic region and operates in Sweden, Norway, Denmark and Finland.
Nordax was established in late 2003 by a management team of five principals led by chief executive Morten Falch with the backing of Palamon.
Erik Ferm (pictured), a partner at Palamon, says: “It has been a fantastic
Mirina, a privately held biotechnology company focused on the generation of novel microRNA therapeutics with improved properties, has closed a series A-1 financing.
The round was led by new investor Versant Ventures.
Previous investors Alexandria Real Estate Equities, Arch Venture Partners, OVP Venture Partners and WRF Capital also participated in the round.
In conjunction with this financing, Brian Atwood, managing director of Versant Ventures, will join the board of directors.
Mirina was founded in August 2008 by Accelerator, a privately held, venture capital-backed biotechnology investment and development company.
“We appreciate the strong support of our existing investors and welcome Versant
The National Venture Capital is entering into a partnership with VentureChoice to broaden its venture investment activities.
Located in capital city Ulaanbaatar, National Venture Capital is the largest non banking financial institution in Mongolia.
It provides financing opportunities to regional start-ups and growth stage companies.
National Venture Capital is using the relationship to expand its reach while implementing venture management best practices.
As part of its plans for a new investment fund, National Venture Capital is adopting Heptalysis methodology for venture assessment with staff currently undergoing a formal certification programme.
Tumendelger Baljinnyam, National Venture Capital’s general manager, says: "We
SEI has launched an online guide that details the key features and requirements of the investment product packaging options predominant in today’s market.
The Global Asset Management Product Guide is designed to help investment managers understand and compare a broad range of potential investment vehicles so they can target additional growth opportunities in light of investors’ increasing demand for flexible product packaging options.
SEI created the guide with the help of several distribution consultants and legal experts in the US and Europe.
It details the key features of a wide range of investment vehicles, including the regulatory, operational, and distribution
The Third Space, a London health and fitness club backed by Graphite Capital, will open its second site at the Marylebone Hotel in the heart of London’s West End.
The GBP2m development is scheduled to open in spring 2011 and will be funded by Graphite Capital, a mid-market private equity specialist.
The new club will offer members fitness facilities, personal training and advice and a swimming pool.
In addition, The Third Space will operate a full service spa at the new location.
Set within the newly refurbished Marylebone Hotel in the heart of the Marylebone village, the new club will
Munich-based venture capital firm Target Partners has invested with Thomas E. Noonan and TechOperators in JouleX, an Atlanta-based developer of software for reducing the energy usage of IT networks.
JouleX will use the funds to further expand development and sales of its products in the US and EMEA.
“JouleX convinced us with its clear business case, stable and scalable technology and first class team,” says Olaf Jacobi (pictured), partner at Target Partners. “Through our industry contacts we were able to supplement the management team of founder Josef Brunner by successfully recruiting Tom Noonan as chief executive and René Seeber
China Select Capital Partners has received approval to manage Renminbi-denominated investment funds from the municipal government of Suzhou Industrial Park as an onshore fund management company.
"China Select is one of the first Canadian firms to be granted a license to manage RMB-denominated private equity funds in China," says Joseph Fodor, chief executive officer of China Select. "We are extremely excited about this unique opportunity to establish RMB funds investing in China alongside our renowned and respected joint-venture domestic partners in China."
On 1 March 2010, the Chinese government approved new foreign-invested partnership rules allowing for the establishment of foreign
Eurazeo says it intends to participate in the development of high potential French small and medium enterprises in need of capital with the launch of Eurazeo Croissance.
Eurazeo plans to commit EUR500m over five years in this activity.
It will support SME management teams in the deployment of industrial projects, particularly with regard to the financing and project management.
Patrick Sayer (pictured), chairman of Eurazeo’s executive board, says: “We are proud to formally launch Eurazeo Croissance with this first investment in Fonroche, one of tomorrow’s leaders in the development of renewable energy in France. Eurazeo will perform its role
Equity Risk Partners, an insurance brokerage and employee benefits consulting firm focused on the private equity industry, has hired Charles Blackmon as senior principal – executive liability.
Blackmon will join Equity Risk Partners’ Chicago office from Marsh, where he most recently held a vice president position in their financial and professional liability practice.
"We are delighted to have Charles as part of our growing executive liability team," says Michael Marcon, founder and chief executive of Equity Risk Partners. "His experience as a broker, underwriter and client advisor gives him the diverse skill set necessary to add value to our private
The Blackstone Group made a GAAP net loss of USD121m in the first quarter of 2010, an improvement from the net loss of USD232m in the first quarter of 2009.
Economic net income of USD360m in the first quarter of 2010 was up significantly from negative USD82m for the first quarter of 2009.
Net fee related earnings for the first quarter of 2010 were USD99m, up from USD90m for the first quarter of 2009.
Distributable earnings were USD149m, up from USD77m in the first quarter of 2009.
Assets under management totalled USD98.1bn at 31 March 2010, up from USD92.2bn at
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