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Providence Equity Partners, a private equity investment firm specialising in media, entertainment, communications and information companies, has appointed Charles E. Gottdiener as a managing director focused on the firm’s portfolio management activities.
Gottdiener joins Providence from Dun & Bradstreet, a source of commercial information and insight on businesses, where he was president, corporate development and chief strategy officer.
In this role, he was responsible for advancing D&B’s long term corporate strategy, including acquisition and partnership opportunities.
Gottdiener was also a member of D&B’s global leadership team.
“Charlie brings a tremendous track record of assisting a wide variety of companies in
Emerald Creek Capital, a private equity fund specialising in bridge loans, has funded a USD3.8m loan in Manhattan, New York.
The property, a 7,000 square foot historic brownstone located in Manhattan’s West Village, currently houses two tenants.
The loan enabled the borrower to satisfy the expired mortgage as well as cash out additional proceeds.
Feeling pressure from the bank to satisfy his debt, the borrower came to Emerald Creek for a quick closing. Emerald Creek Capital performed its due diligence and approved the loan within three weeks.
Managing partner Mark Bahiri says: "Although the economy has started to improve, commercial
Genstar Capital, a middle market private equity firm that focuses on investments in the life science, healthcare services, software, financial services and industrial technology industries, has appointed Robert J. Sheehy as an operating partner and member of its strategic advisory board.
Sheehy served with UnitedHealth Group for more than 20 years, from 1986 to 2008, becoming chief executive in 2000.
In 1986 he had his first large regional role as president and chief executive officer, Lincoln National/UnitedHealthcare Ohio, Kentucky, and Tennessee and over the next 12 years he held various multi-state and single-state responsibilities in the Midwest principally around the
Better Capital says the Becap Fund has completed its second acquisition by backing the management buyout of the UK business of Reader’s Digest in a transaction valued at GBP13m.
The management team will be led by Reader’s Digest managing director Chris Spratling.
The business employs 100 people and markets magazines, books, music, video, financial services and healthcare products. It also has a prize draw offering.
The deal aims to secure the future of the business, which went into administration in February 2010 as a result of significant UK pension liabilities.
Reader’s Digest Association has agreed to allow the UK operations
Clayton, Dubilier & Rice has named A.G. Lafley, the former chief executive of Procter & Gamble, as a special partner.
Lafley (pictured) has joined Clayton, Dubilier & Rice less than two months after retiring from the consumer products company after more than 32 years.
Clayton, Dubilier & Rice, a private equity investment firm, is based in New York and London.
According to the report by Associated Press, Lafley stepped down as chief executive of Procter & Gamble after nine years on 1 July 2009. He stayed on as chairman until 1 January when his successor as chief executive, Bob
Growth equity investor Summit Partners has completed its investment of USD30m in India’s seed trading company Krishidhan Seeds.
The minority investment will be used for research and development, technology and product-related acquisitions, international expansion, and company infrastructure.
Krishidhan Seeds develops, produces and distributes proprietary hybrid seeds and selections to Indian farmers.
The company has experienced sales growth of six times over the last five years. It reported consolidated revenues of approximately USD61m for the year ended September 2009 and is on track to generate more than USD88m for the current financial year.
Sushil Karwa, managing director of Krishidhan Seeds, says:
VantaCore Partners has agreed an acquisition financing package consisting of USD100m of equity funding from Trilantic Capital Partners and a USD15m acquisition facility from PNC.
PNC has also provided VantaCore with a USD27m senior secured credit facility.
"We are excited about this significant new source of acquisition financing and adding these two great new partners to our team," says Colin Oerton, VantaCore’s chief executive officer. "These financings provide us with the capital to continue our strategy of purchasing high quality aggregate businesses in the US, following the three successful acquisitions that we have made in Tennessee and Louisiana since mid-2007.
Investment banking advisory firm Evercore Partners has acquired MJC Associates, a commercial real estate advisory boutique.
It has also appointed Martin J. Cicco as senior managing director and head of Evercore’s real estate advisory practice.
Cicco, who will be based in New York, founded MJC Associates in January 2007.
Prior to MJC Associates, Cicco spent 29 years at Merrill Lynch, ultimately serving as vice chairman of global commercial real estate and global head of real estate investment banking.
“The addition of Marty and his team broadens Evercore’s industry and sector coverage to commercial real estate where there is a substantial
OFI Private Equity Capital has become the first company to have its environment, social and governance policy rated by EthiFinance, the independent extra-financial research agency, as a listed company made up of the companies held in its portfolio.
OFI Private Equity Capital was given the rating AA or 3.5 out of five.
The rating follows the hiring in 2008 of a director of sustainable development at OFI Private Equity Capital and the signing of the UN’s Principles for Responsible Investment in April 2009.
The aim of the extra-financial rating is to establish a mechanism by which to identify the
Private equity firm The Riverside Company has acquired Eska Implants as an add-on to its UK-based Summit Medical platform.
Based in Lübeck, Germany, Eska manufactures and markets a wide range of implants including hip, knee, shoulder, elbow, spine, hand, foot and modular systems for reconstructive surgeries.
The acquisition allows Summit Medical and its subsidiary Orthodynamics to continue expanding their product range and international presence while providing growth opportunities.
This acquisition is Riverside’s 42st healthcare investment and fourth acquisition overall this year.
Radim Stach, Riverside partner, says: “This is an exciting opportunity to keep building a global player in the orthopaedic
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