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Southridge, an investment firm providing capital to publicly listed companies, has closed a private equity agreement via an affiliated fund for up to USD20m in equity financing for Covenant Group of China.
"Southridge is very pleased to provide equity capital financing for this market leader in seeking investment opportunities with companies in the Peoples Republic of China," says Stephen Hicks, founding principal of Southridge.
Covenant’s core strategy is to invest in growth companies headquartered in China using its business experience in both the US and China as well as its experience in the US capital markets.
Covenant provides these companies
Castle Harlan, a New York private equity investment firm, has completed the acquisition of Pretium Packaging, a manufacturer of custom-designed specialty plastic containers for the food, pharmaceutical, personal care and household markets.
In conjunction with the closing of the transaction, Pretium has acquired PVC Container, the parent of Novapak, which also makes specialty plastic containers.
The total transaction is valued at approximately USD200m.
Castle Harlan says the combined company, which carries the Pretium name, has annual sales of approximately USD240m and 14 manufacturing plants in the US and Canada serving more than 500 customers.
Pretium was sold by founder Keith
Perella Weinberg Partners has appointed Michael J. Dickman as a partner in its corporate advisory group.
Based in New York, Dickman will be reunited with London-based partner Robert Maguire and a growing team of advisory professionals covering global energy sector clients.
The addition of Dickman expands the firm’s coverage of the energy industry.
Dickman has over 20 years of energy-related investment banking experience at Morgan Stanley where he was most recently a managing director and co-head of the global energy group.
Joseph Perella, chairman and chief executive officer of Perella Weinberg Partners, says: “Mike’s deep industry knowledge greatly augments our
Monomoy Capital Partners, a New York private equity fund, has acquired Casual Living USA from its family owners.
Terms of the transaction were not disclosed.
Monomoy will consolidate business operations of Casual Living into its Boston Apparel Group platform, a catalogue and internet retailer of women’s value-priced apparel and accessories under the Chadwicks and metrostyle brands.
Boston Apparel operates a warehouse and distribution centre in Taunton, Massachusetts and is headquartered in West Bridgewater, Massachusetts.
Currently based in Tampa, Florida, Casual Living markets “casuals with a twist” to women between the ages of 45 and 60 with an average household income
Germany1 Acquisition, the holding company of AEG Power Solutions, plans to migrate its country of residence from the Isle of Guernsey to Luxembourg and to change its name to 3W Power Holdings.
These actions are designed to clarify its status and further promote the development of the business.
The company will use 3WP as its ticker symbol on Euronext Amsterdam for the shares, and 3WPW for the warrants.
The first of two shareholder meetings will be called to start the process.
Thomas Middelhoff has been appointed to the board of directors of the company effective immediately. Pursuant to the
Actis, an emerging markets private equity firm, has invested USD50m to acquire a substantial minority stake in Integreon, a provider of legal support, research and business services to law firms, financial institutions and corporations.
As part of this investment, JM Trivedi, Actis’s head of South Asia, and Gautham Radhakrishnan, a director at Actis, will join Integreon’s board of directors.
Actis has invested alongside Ayala, the oldest conglomerate in the Philippines, which initially invested in Integreon in 2006 through LiveIt Investments, its business process outsourcing holding company. Ayala will continue to hold a majority stake in Integreon.
With Actis’s investment, Integreon
SEI has been selected by Fred Alger Management to provide operations outsourcing services for the firm’s separately managed account business.
The deal is the latest in a series of recent high profile client wins for SEI in the separately managed account industry.
Under the agreement, SEI will provide Alger with a fully outsourced, customized solution centered on delivering automated business processes, account administration, reconciliation, and reporting.
"We know what it takes to run an efficient operating environment and SEI was the only provider we trusted to do so for us. SEI has continually proven itself as the leader in the
Viewfinity, a provider of systems and privilege management via cloud computing, has received USD9m in B-round funding from Giza Venture Capital, JK&B Capital and Longworth Venture Partners.
Viewfinity has also expanded its advisory team with the appointment of board members Greg Butterfield and Nilanjana Bhowmik.
Butterfield, former chief executive and chairman of Altiris, was involved in the growth and mergers/acquisitions of WordPerfect to Novell, Vinca to Legato, Altiris to Symantec and Omniture to Adobe.
"Viewfinity is in an ideal position to address the viable place in the market for systems management that can be addressed in a cloud-based model," Butterfield
2tor, a provider of online education services to universities, has closed USD22m in series B financing led by new investor Highland Capital Partners along with existing partners Redpoint Ventures, Novak Biddle Venture Partners and City Light Capital.
The company will use the funding to increase resources dedicated to developing new online programmes with additional university partners.
In conjunction with the financing, Paul Maeder of Highland will join 2tor’s board of directors.
“2tor is already proving that online education can be excellent and we have only just scratched the surface. We are delighted to welcome Highland to our team, who along
Redpoint Ventures has closed Redpoint IV, a USD400m early stage venture capital fund.
Redpoint IV will be used to back entrepreneurs and companies that will help in the social and mobile internet, cloud computing and clean technology spaces.
In the past six months, Redpoint entrepreneurs have realised liquidity totalling nearly USD2bn in aggregate market value, including the IPO of Fortinet and the acquisitions of LifeSize, WiChorus, Networks in Motion and Kazeon.
Additionally, portfolio companies Calix and Solyndra have filed for their IPO.
"This latest Redpoint fund will help entrepreneurs fulfil their dreams in a world of promising opportunity, and signals
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