Rainbow Early Education, a provider of early education services for children in the US mid-west, east and southeast, has received an investment from private equity firm Spire Capital Partners in partnership with management to acquire and organically build upon its existing footprint of schools. As part of the investment, Rainbow effectuated the acquisition of Little Pro’s Academy Holdings and Mayberry Learning Center, bringing total schools under management at Rainbow to 30. In addition, the acquisitions expanded Rainbow’s service offerings, as the company will now manage over ten before-and-after school programmes in conjunction with public schools. Spire has also committed significant

Citadel Capital, a private equity firm in the Middle East and Africa, made a strong case for Africa’s growth potential at the 20th World Economic Forum on Africa held in Dar El-Salam, Tanzania, on 5-7 May 2010. Based in Cairo and controlling investments of USD8.3bn in 15 industries spanning 14 countries, Citadel Capital is the largest private equity firm in Africa by private equity assets under management.   “Africa’s population has reached one billion and is set to grow faster than in any other part of the world in the coming decades. While some may view this as a challenge,

Fortress Investment Group made a GAAP net loss of USD261m during the first quarter of 2010 compared to a loss of USD287m for the first quarter of 2009. The GAAP net loss attributable to class A shareholders was USD84m, or USD0.58 loss per diluted share, as compared to a loss of USD67m, or USD0.71 loss per diluted share, for the first quarter 2009. Excluding principals agreement compensation, first quarter GAAP net loss was USD27m, as compared to a net loss of USD52m for first quarter 2009. For the first quarter, fund management distributable earnings was USD92m compared to USD44m in

After 18 months of pervasive gloom dealmakers are increasingly more positive about the mergers and acquisitions environment, according to the twice yearly ACG-Thomson Reuters DealMakers Survey. While the last three surveys were consistently dreary, with more than 80 per cent of dealmakers reporting a fair to poor M&A environment, the most recent survey reports that 85 per cent of dealmakers expect an increase in M&A activity in the next six months. A year ago, only 56 per cent predicted an increase in M&A activity. The survey, by the Association for Corporate Growth and Thomson Reuters, reflects responses from nearly 700

Hercules Technology Growth Capital, a finance company providing venture debt and equity to venture capital and private equity-backed technology and life science companies, has committed USD33.0m in structured debt financing to three new portfolio companies. Hercules has committed USD15.0m to California-based Alexza Pharmaceuticals, a pharmaceutical company with novel drug delivery technology focused on the research, development and commercialisation of proprietary products for the acute treatment of central nervous system conditions. Hercules also committed USD15.0m to Chroma Therapeutics, a biotech company headquartered in the UK which is focused on taking advantage of the power of chromatin biology and novel drug accumulation

Albion Ventures has made a GBP6.4m investment to fund the creation of a 62 bed hospital offering long-term care to NHS patients in the Somerset area. The investment follows research from Albion Ventures that identified an area of under provision in this type of care and in particular in the South West of England.    The current site, a nursing home in Taunton, Somerset, will be refurbished and extended and then re-classified by the Care Quality Commission as a hospital to provide “slow stream” rehabilitative care for NHS patients. Planning permission has been granted for a further 27 rooms on

Greenway University, a US-based medical marijuana organisation, has received USD1m in venture capital from Trilogy Partners and USD1m from an angel investor. Greenway University offers compliance driven medical marijuana business administration educational services in California, Colorado and New Jersey. It covers nearly every aspect of the business ranging from genetic strain development, insurance services to merchant solutions that ensure compliance and high quality operational standards. "Greenway University has a fundamental commitment to set the benchmark in the medical marijuana industry for professionalism, integrity and technological innovation," says Gustavo Escamilla, Greenway University president and chief executive. "Greenway University embraces and educates

J.P. Morgan has been appointed by IFC Asset Management, a wholly owned subsidiary of IFC, a member of the World Bank Group, to provide outsourced private equity accounting and fund administration services. IFC Asset Management was established in 2009 to manage private equity funds comprising third-party capital. The establishment of the company marks the first time IFC is serving as a fund manager of third-party capital. Assets under administration for this mandate total USD4bn. J.P. Morgan will provide IFC Asset Management’s IFC Capitalization Fund and IFC African, Latin American and Caribbean Fund with a set of services including fund and

Polaris Private Equity, a lower mid-market firm active in Denmark and Sweden, has sold Frösunda to the British private equity group HgCapital. Frösunda is a healthcare services company active in personal assistance, assisted living and daily activities for the functionally impaired.                                  Frösunda was acquired by Polaris in 2007 and under Polaris’ management the company more than doubled its turnover from SEK820m (EUR85m) to an expected SEK1,800m (EUR188m) in 2010. The company has over 5,000 employees and is established in 29 Swedish cities.   Polaris Private Equity is focused on buy-out transaction of well established companies in Denmark and Sweden.