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Glimcher Realty Trust has closed on its previously announced joint venture with The Blackstone Group for the acquisition and management of two regional malls.
An affiliate of Blackstone will acquire 60 per cent of the joint venture and an affiliate of Glimcher will retain the remaining 40 per cent interest.
The assets for the joint venture consist of two existing Glimcher mall properties: Lloyd Center in Portland, Oregon and WestShore Plaza in Tampa, Florida.
The gross value for the combined transaction is approximately USD320m and includes assumption of the approximately USD215m in mortgage loans currently in place on the properties.
Pacific Century Group, an Asia-based private investment firm, has acquired PineBridge Investments from American International Group.
PineBridge operates as a multi-strategy investment manager in 31 countries with USD87.3bn in assets under management as of 31 December 2009.
The firm focuses on listed equity, fixed income and alternative investments strategies.
PineBridge will continue to manage assets for hundreds of global investors and limited partners, including AIG, and will remain headquartered in New York.
Chief executive Win J. Neuger and the current management team will continue to lead the company.
PineBridge professionals will be meaningful minority owners and investors in the
A delegation of politicians, officials and business leaders from Guernsey will visit India next month to enhance financial services links between the two jurisdictions.
The trip will build on links forged prior to the global economic crisis, according to Paul Christopher (pictured), a partner at Channel Islands law firm Ozannes.
“Ozannes has advised on funds with India-based assets including property and infrastructure,” Christopher says. “Before the economic crisis there were lots of projects on the blocks. Now we see it as a growth area and a very important future market.”
He says one promising source of new business could be
Private equity firm The Carlyle Group has acquired a 30 per cent stake in General Lighting Company, Saudi Arabia’s largest lighting fixtures manufacturer and supplier.
Abdullah Al-Hobayb, chairman and co-owner of GLC, says: "We are exceptionally proud of GLC’s achievements to date and believe Carlyle’s institutional support will facilitate our plans for expansion and further enhance the world class products and services we provide."
Walid Musallam, Carlyle managing director and head of Carlyle Mena, says: "GLC is the uncontested, leading lighting provider in the Middle East whose market position and strong brands have been built on decades of performance
RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada, is managing lead arranger and sole bookrunner of the acquisition facilities supporting Ontario Teachers’ Pension Plan’s bid for UK National Lottery operator Camelot.
The acquisition facilities were underwritten by RBC Capital Markets.
Royal Bank of Scotland and Macquarie Bank have also joined the transaction as MLAs, and Export Development Canada is expected to join as an MLA shortly.
Details of the facilities are expected in the coming days.
Camelot is the exclusive operator of the UK National Lottery. It operates under a ten-year licence awarded
LeapFrog Investments, the world’s first micro-insurance fund, has passed its USD100m target capitalisation months ahead of schedule.
The fund invests in high-growth, high-impact insurance and financial services companies in countries including India, the Philippines, South Africa, Kenya, and Ghana.
LeapFrog’s dual aims are to deliver strong returns for its investors and to bring affordable insurance to 25 million low income and vulnerable people in Africa and Asia.
"Today we have achieved the synergy of profit and purpose," says Dr. Andrew Kuper (pictured), president and founder of LeapFrog. "We have opened the gates of the capital markets, ensuring that millions of
Synova Capital, a UK private equity firm focused on the lower mid-market, has acquired The Dental Buying Group, a provider of dental services and products.
DBG operates a membership model providing services to over 4,500 dental practices across the UK.
Members pay an annual fee to gain access to DBG’s portfolio of products and services, including dental engineering and radiography services, health and safety provision and training and compliance services.
As part of the transaction, Synova has partnered with DBG’s chief executive John Rochford.
Rochford says: “DBG provides through our highly skilled team, a unique set of services and
The US dominates the global venture capital investment market in the area of payments, according to a report by Mercator Advisory Group.
China and India attract considerable attention from global venture capital investors as well.
The general trend in the venture capital market is toward more diversified solutions with heavier consumer and commercial payments market segmentation.
The report, presented by The Infoshop by Global Information, predicts that in 2010 the global venture capital market will recover and payments innovators worldwide will benefit from more active venture capital investments and additional overall funding.
The study examines the global venture capital market
Productivity software solutions provider RedPrairie Holding has been acquired by New Mountain Partners III, a private equity fund sponsored by New Mountain Capital.
Financial details of the deal were not disclosed.
RedPrairie offers supply chain management, workforce management and in-store productivity solutions.
Following its acquisition by New Mountain the company expects to be able to provide more value to its customers and enter new markets, chief executive Mike Mayoras said.
The senior management team of RedPrairie will remain in place.
Fundraising and private equity investment in Latin America set new records in 2009, according to a report published by the tax and accounting business of Thomson Reuters, under its WorldTrade Executive brand.
The Venture Equity Latin America’s 2009 Year-end Report shows that fundraising for the region reached a total of USD5.03bn in 2009, a 13.3 per cent drop in capital levels since year-end 2008.
Nevertheless, Latin America witnessed 40 fund closings in 2009, primarily in Brazil and Colombia, which represents an uptick of 60 per cent year-over-year. The report documents deals of USD2.8bn and exits worth USD3.5bn.
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