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Accountancy firm Anchin, Block & Anchin has appointed E. George Teixeira as a tax partner in its financial services group.
With the addition of Teixeira (pictured), Anchin has a roster of 54 partners who provide advisory services to clients representing all of the major industries in the Tri-state area.
Teixeira brings almost 20 years of experience servicing privately-held and public companies in the financial services industry, including investment partnerships, broker dealers and investment advisers.
He has been involved with some of the largest investment partnerships in the country, including funds of funds, and he provides assistance to those expanding their
Private equity firm Kirtland Capital Partners has completed the sale of its portfolio company PVC Container, the parent company of Novapak, to Castle Harlan’s Pretium Packaging.
During its ownership, Kirtland led PVC through a number of strategic and operating initiatives, including a transition to the Novapak name following the integration and rationalization of several of its business divisions, and a go private transaction achieved through a reverse stock split.
Novapak is a major producer of PET, PP, HDPE and in-line fluorinated HDPE containers for specialty chemical, personal care, healthcare, food, beverage, household and automotive applications.
The company is headquartered in
GCP Capital Partners, a private equity investment firm, has appointed Bob Deutsch as a managing director.
Deutsch will also be a member of the investment committee of Greenhill Capital Partners.
Deutsch joins GCP Capital with operating experience in the insurance industry. Previously, he served as a founder and the chief executive officer of Ironshore, an insurance company established with over USD1bn of equity capital, and a Greenhill Capital Partners portfolio company.
Prior to that, he was executive vice president and chief financial officer of CNA Financial. Before joining CNA, Deutsch was one of the founders of Executive Risk (now part
The California State Teachers’ Retirement System has expanded its relationship with Banc of America Merrill Lynch Capital Access Fund into underserved inner-city and rural markets.
Calstrs is committing USD100m to its fourth BAML fund since 2003, targeting underserved domestic markets.
Calstrs has the option of increasing its commitment to USD200m within four years.
“This fund extends new capital into traditionally underserved communities in the inner cities and rural areas, during a time when the capital that small businesses need in order to grow is in short supply,” says Calstrs chief investment officer Christopher J. Ailman (pictured). “These opportunities, we believe,
Private equity firm Advent International has agreed to acquire a majority stake in Centrul Medical Unirea, a chain of medical clinics in Romania, from the private equity company 3i and the founders of the business.
The value of the deal was undisclosed. The transaction is subject to Romanian Competition Council merger control approval.
CMU provides ambulatory and inpatient medical services through a network of 19 clinics (11 in Bucharest and eight clinics in four other large cities), the maternity Regina Maria, and a surgery unit.
CMU was founded in 1995 by Dr. Wargha Enayati, a German born cardiologist.
RW Capital Partners is aiming to raise USD50m of private capital with a new fund that will provide loans to small businesses who are struggling through the recession-induced credit crunch.
RW Capital’s fund could be matched by up to USD100m in committed funds upon successful completion of its application to be licensed by the Small Business Administration as a Small Business Investment Company.
RW Capital Partners is a minority-owned private equity firm led by former Lazard and GE Capital managers with more than 30 years of combined experience in private equity, commercial lending, and management of more than USD4bn of investor
Private equity and venture capital recovered some of the losses they had incurred in 2008 and early 2009 in the third quarter, with each asset class logging its best performance since 2007.
However, as in the previous quarter, public equity indices outperformed both, though for time horizons of three years and longer private equity and venture capital returns continued to be significantly better than those of public equities, according to Cambridge Associates, a provider of research and investment advice to institutional investors and private clients.
As measured by the Cambridge Associates’ Private Equity index, private equity returned 6.2 per cent
Huayuankou Economic Zone and Arc China have signed an agreement to form the Liaoning Huayuankou Investment Fund, which will be established through a joint investment totalling RMB1bn (approximately USD146m).
This is the first private equity fund in Dalian in partnership with the local government, and the primary focus will be on investment in the industrial economy.
Dalian has a registered population of over six million and is one of two biannual locations of Summer Davos.
The establishment of the fund marks a step in building a regional financial centre in Dalian and also makes progress on a specific initiative
Ronald Paterson, partner at international law firm Eversheds. comments on concern expressed by AIMA this week over the AIFM Directive.
The potential consequences of getting this directive wrong, range from the unthinkable – a trade war with the US – to the merely disastrous, such as a serious reduction in the investment opportunities and investment returns available to investing institutions in Europe, and/or a major exodus of fund management businesses and their revenues from the EU.
AIMA, together with other trade bodies such as the Association of Investment Company (AIC) and the British Private Equity &
The UK support services sector has witnessed an unrelenting volume of M&A transactions since the end of 2008 despite limited activity in most other sectors, according to research by Close Brothers Corporate Finance.
Since October 2008, at the start of the international banking crisis, the UK support services sector has seen 131 M&A transactions, with a cumulative value of over GBP8bn.
This level of M&A activity is set to continue as corporates remain active and private equity firms boost their interest and confidence in the sector, according to Close Brothers Corporate Finance.
The findings show that the strategic rationale for
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