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Private equity firm Equity Resource Investments has raised over USD37m for its latest real estate private equity fund.
Equity Resource Fund 2009 will invest in all classes of real estate, primarily through acquisition of fractional equity interests, direct real estate investments, joint venture participations, merger transactions, and other opportunistic investments on a high value, risk-adjusted basis, primarily in the US.
“We strongly believe that times of financial distress represent exceptional opportunities to make investments,” says Eggert Dagbjartsson, managing director of ERI. “Having dry powder when capital is scarce allows ERI investors access to attractive transactions in superior properties.”
Fund 2009
TA Associates, a growth private equity firm, has made a minority investment of USD45m in Micromax Informatics, a mobile handset provider in India.
Founded in 2000 as a telecom equipment distributor, Micromax entered the mobile handset market in April 2008.
Micromax is now the third largest handset provider in India, as measured by volume.
The handsets are sold through more than 45,000 retail points in 120 cities across the country. Micromax is headquartered in New Delhi.
“As a fast-growing, profitable company in a growth industry, Micromax ideally fits TA’s investment profile,” says Naveen Wadhera, director, TA Associates Advisory, who will
Global Investment House has obtained approval from its shareholders to transfer its principal investment assets and real estate investment properties to the Global Macro Fund and Real Estate Holdco respectively.
Both the Global Macro Fund and the Real Estate Holdco are wholly owned subsidiaries of Global.
The shareholders’ approval was also sought to pledge the above-mentioned principal investment assets and real estate investment properties in favour of the company’s financiers in accordance with the terms of the company’s debt restructuring agreements. The shareholders granted their approval to all items of the ordinary general meeting agenda.
As part of the restructuring
The Riverside Company, a private equity firm investing in companies with enterprise values of under EUR150m, has promoted Karsten Langer and Juan Barnechea within its European organisation.
Langer, who joined Riverside in 2006, will become the transacting partner for Benelux and France.
Previously, Langer served as origination partner with Riverside for three years, where he was responsible for the creation and leadership of a pan-European origination team overseeing more than 1,200 deals annually.
In addition, Langer has played a critical role in the development of Riverside’s European team and the spread of the Riverside brand across Europe.
Barnechea will now
Private equity firm The Carlyle Group has signed a memorandum of understanding with the Beijing Municipal Bureau of Financial Work on the formation of an RMB-denominated fund in Beijing.
The Carlyle Asia Partners RMB Fund will be registered in Beijing and the Beijing Municipal Government will provide full support to the fund.
Once established, the fund will invest alongside Carlyle Asia Partners and pursue independent investments in larger growth companies.
The fund will be entitled to preferential treatment from the Beijing Municipal Government, in accordance with its development policies for the city’s finance and equity investment industry.
Daniel A. D’Aniello,
JHP Group, one of the UK’s largest private sector providers of vocational education, skills training and employability programmes, has been bought by its management team in a transaction backed by private equity firm LDC and Yorkshire Bank.
Founded by Hugh Pitman in 1983, Coventry-based JHP operates a national network of 57 centres as well as delivering training in employees’ workplaces nationwide.
The business services more than 3,000 clients, from small and medium sized companies to major organisations such as the Ministry of Defence, RBS Insurance, Royal & Sun Alliance and Barclays. .
Led by chief executive officer Jim Chambers, its
The Malta Financial Services Authority has published guidelines regarding the redomiciliation of offshore funds to Malta under the Companies Act, Continuation of Companies Regulations, 2002.
The guidelines specify the documentation required from fund promoters and outline the way the process is handled by the authorisation unit and the registry of companies at the MFSA.
They are available for downloading from the MFSA’s website (www.mfsa.com.mt) under the heading Securities/Guide to Regulation.
Companies including insurance and securities firms have been using Malta’s redomiciliation legislation since it came into force in 2002 largely because the process allows companies to retain the
Maranon Capital has led a USD19.5m mezzanine debt investment to support the recapitalization of PathGroup and its subsidiaries in a transaction initiated by Primus Capital Funds.
Maranon has also provided USD10m of revolving credit and term debt as a participant in a senior credit facility.
PathGroup and its subsidiaries provide a diagnostic laboratory services including anatomic, esoteric and clinical testing as well as administrative services.
“Maranon was an excellent financing partner,” says Phil Molner (pictured), a managing director at private equity firm Primus. “They delivered a commitment for all the mezzanine required to complete the transaction and were flexible
The office of the National Development and Reform Commission of China approved applications for the record from 13 venture investment management enterprises in December 2009, including Qianxin Culture & Investment Management.
This is the third batch of enterprises receiving approval for the record from the NDRC following CDH Investments (Tianjin) and Hony Capital (Tianjin) getting approval in June 2008 and seven venture investment management enterprises, including CCB Healthcare Investment Management (Tianjin), getting approval in April 2009.
There were a total of 22 enterprises getting approval for the record, including 16 equity investment fund management enterprises the NDRC implemented and tried
First Republic Bank, a provider of private banking and wealth management services, has added Julie Schneider, a senior banker with experience working with private equity and venture capital clients, to its Palo Alto office.
Schneider, who has more than 22 years of banking experience in the San Francisco Bay Area, has been named senior commercial lender in First Republic’s business banking group.
She will work with a team of bankers dedicated to venture capital, private equity, real estate funds and investment management clients at the bank’s offices in Palo Alto, San Francisco, Los Angeles, Boston, and New York.
“Julie Schneider
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