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LLR Partners, a Mid-Atlantic private equity firm, has appointed John J. “Jack” Gavin as an operating partner.
Gavin will work closely with LLR to continue to grow the firm and expand its portfolio of business services companies.
“I’m very excited to be joining LLR Partners,” says Gavin. “I’ve known the partners at LLR a long time and am impressed by their ability to identify and expand successful middle market companies in a variety of service-oriented industries. I look forward to contributing to this initiative, and using the professional expertise I have gained managing and maximizing professional services organisations in my
River Cities Capital Funds has selected Navatar’s private equity CRM over Netage Dynamo Private Equity Edition.
Navatar’s private equity CRM is built and runs entirely in salesforce.com’s cloud and is available for a low monthly fee.
Its flexible reporting engine can be used by non-technical staff to generate reports.
Navatar also provides all implementation services, accounts/contacts migration, training, maintenance and email support free of charge.
"All other things being more or less equal, Navatar Private Equity mitigates risk since our data will sit in salesforce.com’s cloud, as opposed to some local provider’s," says Robert Heimann, principal, River Cities Capital Funds.
Low Carbon Accelerator had an unaudited net asset value of GBP44.22m, or 51.4 pence per ordinary share, at as at 28 February 2010, an increase of 2.2 per cent increase on the 30 November 2009 audited NAV of 50.3 pence per ordinary share.
It represents the third consecutive quarter of NAV growth for the company.
Whilst the increase has almost entirely been due to an appreciation in the USD and CND against the GBP, the company says the portfolio continues to demonstrate its strength through the slow economic recovery.
During the quarter, two further investments were made into existing portfolio
While the crisis that afflicted the hedge fund sector in 2008 and early 2009 may be essentially over, with market conditions remaining volatile and investors still cautious, there is no prosp
Private equity firm The Carlyle Group and RPK Capital Management, an aircraft leasing and investment company, have formed a partnership to invest USD600m in equity in a spectrum of commercial aviation assets, including aircraft, engines and related securities and loans.
With leverage, the new partnership, RPK Capital Partners, is expected to purchase well over USD1bn in aviation assets.
The equity comes from Carlyle Partners V, Carlyle Strategic Partners II, RPK principals and other investors.
Carlyle managing director Adam Palmer says: “This new partnership marries Carlyle’s global footprint and decades of aerospace experience with RPK’s proven ability to create value
Axa Private Equity has acquired a USD1.9bn portfolio of limited partnership interests in private equity funds from Bank of America.
Axa says this represents one of the largest secondary private equity transactions in history.
The portfolio strengthens Axa Private Equity’s position in the US and adds to a series of private equity transactions the company has negotiated around the globe in April totalling more than USD2.6bn.
Vincent Gombault (pictured), managing director fund of funds at Axa Private Equity, says: “We are very pleased to have concluded this acquisition. This diversified portfolio, consisting of commitments in some of the best-managed funds,
Law firm Cadwalader, Wickersham & Taft has appointed Drew G. L. Chapman, an alternative investment, asset management and securities industry attorney, as partner in the corporate department.
Chapman will reside in the New York office.
“Drew Chapman is a great addition to our corporate team,” says Steven Lofchie, co-chair of the financial services department at Cadwalader. “He is a well-known and skilled transaction counsellor who brings to the firm an expertise that supplements our talent and depth in regulatory affairs, fund formation, restructuring and general transactional work.”
Chapman joins Cadwalader from DLA Piper where he served as chair of the
Amonix, a designer and manufacturer of concentrated photovoltaic solar power systems, has raised a USD129.4m series B financing round led by Kleiner, Perkins, Caufield & Byers.
Other participants in the round include Adams Street Partners, Angeleno Group, PCG Clean Energy & Technology Fund, Vedanta Capital, New Silk Route, The Westly Group, and current investor MissionPoint Capital Partners.
Amonix will use the proceeds to accelerate deployments of its CPV systems and expand manufacturing capacity.
“Amonix CPV systems have emerged as the lowest cost solar technology for sunny and dry environments,” says Ben Kortlang, partner of Kleiner, Perkins, Caufield & Byers. “Developers
Association of Investment Company figures show that GBP340m was raised by the venture capital trust sector during the 2009-2010 tax year, more than double the GBP158m raised in the 2008-2009 tax year.
The figure is the fourth highest amount since VCTs were first launched in 1995.
Ian Sayers (pictured), director general of the AIC, says: “This year’s impressive fundraising will increase VCTs’ capacity to support companies which find it difficult to raise development capital. It is particularly valuable given banks’ continued reluctance to lend to small businesses. This money will support enterprises across the UK in key growth sectors, help
MMC Ventures has invested growth capital to accelerate the expansion of Creativity Software, a supplier of end-to-end location based services solutions to mobile network operators.
Creativity Software is one of the few providers of an LBS one stop shop suite of network infrastructure, middleware and end user applications, enabling mobile network operators to deploy revenue generating location-aware services.
MMC will take a significant minority stake as part of the transaction.
Creativity Software has experienced rapid growth throughout the recession and is now poised to increase its share of the growing market for products based on location information.
According to research
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