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Enphase Energy, a provider of solar microinverter systems, has secured USD40m in funding with Bay Partners leading the equity financing.
The round of financing also includes participation from Horizon Technology Finance, Bridge Bank and existing investors Third Point Ventures, RockPort Capital Partners, Madrone Capital Partners and Applied Ventures.
"Enphase has captured significant market share in the inverter space in an extraordinarily short time frame. This financing will be used to fund our expansion plans and further strengthen our balance sheet," says Sanjeev Kumar, chief financial officer of Enphase Energy. "We are pleased to have the support of Bay Partners, Horizon
Law firm McDermott Will & Emery has appointed Matthew J. Rizzo as a partner based in the New York office.
Rizzo (pictured) focuses his practice on mergers and acquisitions, private equity, venture capital and restructurings, involving public and private companies across a wide range of industries.
“Matt Rizzo’s addition to our New York office is a further step in the strategic plan for McDermott’s transactions business unit, as we expand the firm’s capacities in mergers and acquisitions,” says David Goldman, partner in McDermott’s New York office and head of the corporate practice. “Our group had a banner year among global
The European mid-market was relatively subdued in 2009 both in terms of deal activity and fundraising, according to research by Acanthus.
Despite the slowdown and in the toughest of fundraising conditions, a creditable EUR7.9bn was raised by 41 European mid-market funds.
Acanthus saw longer fundraising periods reflecting the fundamental change in fundraising conditions for both general partners and limited partners such as fund of funds.
In 2009, LPs continued to experience serious liquidity issues as they lacked distributions from their investee funds and their existing commitments remain substantially uncalled.
Despite the challenges of fundraising and based on our recent
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
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