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China’s venture capital (VC) and private equity (PE) market is expected to have a total capacity in excess of 2 trillion yuan by 2020, according to Xu Xiaolin, general manager of CCB International Wealth Management.
Private equity investment fared well in China in the past decade, however, most of the VC and PE firms are foreign funded.
As China gradually opens the PE sector to more institutions such as state-owned enterprises, pension funds and commercial banks, the PE sector will have more sources of funding and RMB-denominated funds will take up a dominant position, Xu noted.
Fundraising by RMB funds
Orchard Brands Corporation, a portfolio company of private equity firm Golden Gate Capital, has acquired Linen Source from The Thompson Group.
Investment bank Tully & Holland initiated the transaction and acted as the exclusive investment banking advisor to Linen Source, a direct maketer of premium bedding and home furnishings. Linen Source will now benefit from access to Orchard Brands extensive customer file.
As a USD1.1bn multi-channel marketer of apparel and home products, Orchard Brands acquired Linen Source to broaden its product offering and provide a diverse selection of high quality bedding and home décor products to its target customer.
Private equity firm Francisco Partners has completed its acquisition of healthcare IT systems provider QuadraMed Corporation.
Following the acquisition, QuadraMed’s common stock will no longer be listed for trading on the NASDAQ Global Market.
Common stockholders of QuadraMed will receive USD8.50 in cash for each share owned, while Series A preferred stockholders are entitled to receive USD13.7097 in cash for each share of Series A preferred stock owned, other than dissenting shares.
QuadraMed’s president and CEO, Duncan W James, said that Francisco Partners has "extensive resources and a proven track record of helping healthcare IT companies execute on their
Citadel Capital (CCAP.CA ), a leading private equity firm in the Middle East and Africa, has announced its first first Earnings Release since listing on the Egyptian Stock Exchange (EGX) in 4Q 2009.
As of 31 December, 2009, the firm reported a total net asset value per share (TNAVPS) of USD2.83 (EGP 5.50), while total assets under management stood at USD3.7 billion (EGP20.2 billion)
The total net asset value (TNAV) captures the present value of Citadel Capital’s principal investments in the 19 Opportunity-Specific Funds that it controls as well as ithe asset-management component of the business.
Total invested assets under
Philippe Guillemot has been appointed Chief Executive Officer of Eurazeo-owned Europcar Groupe with effect 1 April, 2010.
Guillemot succeeds Salvatore Catania, who is leaving his operational role after 35 years with the company. Catania will become Special Advisor to the new CEO to ensure a smooth transition and will continue to be closely involved in the Group’s success.
Guillemot, who was named Chairman and CEO of Areva T&D and Member of the Executive Committee of Areva in January 2004 having previously held management positions with Michelin, Valeo and Peugeot-Citroen, will focus on leading the company’s recovery following several months
The Carlyle Group and Environmental Defense Fund have launched EcoValuScreen, a business review process that aims to enhance environmental management at potential investments.
The analytic tool was developed in partnership with The Payne Firm, an international environmental consultancy.
EcoValuScreen goes beyond the traditional focus of risk mitigation during the due diligence process by identifying opportunities for operational enhancements that will lead to better environmental and financial performance before making an investment.
This process will be used by Carlyle professionals to more effectively evaluate the operations of a target company, identify the most promising environmental management opportunities and incorporate them into
Icap, an inter-dealer broker and supplier of post-trade services, has received final regulatory approval and will complete the acquisition of the remaining 61.78 per cent of stock in TriOptima on 24 March 2010.
The acquisition was announced on 5 February 2010. A total initial payment of approximately SEK1,074m is payable in cash, which will be financed from Icap’s existing debt facilities.
TriOptima will join a number of other companies in Icap’s newly formed post trade risk division.
“Icap has been developing a post-trade risk and information business to provide innovative services that enable our customers to reduce their costs and
Ares Capital says all four independent proxy advisory firms have recommended that its stockholders vote in favour of the proposals for its pending merger with Allied Capital to be voted on at its special meeting of stockholders on 26 March 2010.
The proxy advisory firms issuing reports are RiskMetrics Group, Glass Lewis, Proxy Governance, and Egan-Jones Proxy Services.
The reports recommend a vote for the issuance of Ares Capital shares in connection with the merger as described in the joint proxy statement/prospectus.
The reports also recommend a vote for the adjournment of the Ares Capital special meeting, if necessary or
Brilla Group, a real estate private equity firm focused on acquiring luxury beachfront hotels and resorts in South Florida, the Caribbean and Mexico, has acquired Richard J Cotter & Associates, a boutique hotel consulting group.
The consulting group is led by veteran hotel asset manager, Richard J. Cotter, who joins Brilla as executive vice president of asset management.
"This acquisition along with the addition of Richard to our executive team adds tremendous value to our company and existing hotel portfolio. Over the past 18 months, we have aggressively taken advantage of market conditions to acquire more thaneight8 hotel projects, Richard
Starwood Capital Group, TPG Capital and Five Mile Capital Partners have reached an agreement to invest up to USD905m in Extended Stay Hotels as part of a recapitalisation plan that would allow the hotel chain to emerge from bankruptcy.
The proposal, which was filed with the US Bankruptcy Court, Southern District of New York, would allow Extended Stay, which would be valued at approximately USD3.9bn post-transaction, to emerge from bankruptcy with a stronger balance sheet, reduced debt load and significant cash reserves to invest in its properties and operations.
The Extended Stay board of directors has determined the offer is
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