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A group of venture capital firms has completed the sale of its stakes in Proteolix, a biopharmaceutical company, to Onyx Pharmaceuticals.
The group is comprised of Nomura Phase4 Ventures, Westfield Capital Management, Advanced Technology Ventures, Delphi Ventures, Latterell Venture Partners, US Venture Partners and The Vertical Group .
Onyx is a biopharmaceutical company engaged in developing therapies that target the molecular mechanisms that cause cancer.
Under the terms of the acquisition agreement, Onyx will pay USD276m in cash upon the closing. In addition, Onyx will pay USD40mi in 2010 based on the achievement of a development milestone and up to
Liber Capital, a private equity firm specialising in beverage industry investments, has appointed Art Friedman to its senior management team as managing director.
Friedman was formerly president and chief executive officer of Gold Coast Distributors and has served on several industry advisory councils.
"Art’s experience and expertise will be invaluable as we work with beverage industry companies to help them transform their businesses," says Keri Aivazis, founding member and managing director of Liber Capital. "Art led Gold Coast Distributors as they raised their status from a regional player to one of the top ten distributors in the country, and he
Focus Financial Partners, a partnership of independent wealth management firms, has received a USD50m growth capital investment from Polaris Venture Partners and Summit Partners.
Polaris has contributed USD35m and Summit, Focus’ initial backer in January 2006, an additional USD15m.
Concurrent with the investment, Focus has extended and amended its bank credit facility with a USD30m accordion to further expand the capital structure.
Focus will use the capital to continue with acquisitions of quality wealth management firms. Focus is also dedicating additional resources to a variety of activities to support growth for partners including recruiting and sub acquisitions, expansion of services,
Institutions and financial advisers continue to view alternative investments optimistically, despite their questionable performance, correlation and liquidity during last year’s global downturn, according to a survey by Morningstar and Barron’s.
The majority of participants to the survey said they plan to increase allocations to alternatives, but with greater scrutiny and due diligence given to those investments.
More than 60 per cent of institutions and advisers believe that alternatives will be as important or more important than traditional investments over the next five years.
The majority of institutions and advisers expect alternatives to account for more ten per cent of their
Hermes Fund Managers has made a step forward in its development to become a multi specialist asset manager with the recruitment of a global equities team.
Joining from Fortis, the Boston-based team of six is led by Lode Devlaminck and John Chisholm and has an average of 19 years of investment experience.
The recruitment of the team will provide Hermes with the expertise to build a core active global equity business which will be structured as a specialist investment partnership.
Hermes will own the majority share but the partners and employees will have a stake in both the long-term profitability
Simon Coxeter, Director at Swisslake Capital Asia, discusses the importance of a multi-disciplinary approach to real estate investment.
For an investor’s allocation to real estate, what is most important in shaping returns across the market and economic cycle? Is it a thorough understanding of the underlying physical market, or is it the ability to invest shrewdly across asset classes and strategies?
Clearly, both are important, but the latter is still neglected by many investors, a phenomenon which in itself presents sophisticated allocators to real estate with the opportunity for superior returns.
This article examines the importance of a multi-disciplinary approach
Bain Capital has signed definitive agreement to acquire Citigroup’s controlling stake in Japan’s call centre operator, BellSystem24, in a tender offer valuing the company at approximately JPY100bn (USD1.1bn).
Bain Capital has received committed financing for the transaction from Japan’s largest banks – Sumitomo Mitsui Banking, The Bank of Tokyo-Mitsubishi UFJ and Mizuho Corporate Bank.
The transaction, upon completion, would be the largest buyout in Japan in nearly two years.
"BellSystem24 is the industry leader in the Japanese call centre market. We believe there is a significant opportunity to grow the business as companies continue to look for ways to not
CambridgeSoft has completed a private equity investment by Health Evolution Partners and a follow-on investment by Goldman Sachs.
CambridgeSoft is a supplier of discovery, collaboration, and knowledge management research IT enterprise solutions, desktop software, scientific databases and consulting services for the pharmaceutical, biotechnology, and chemical industries.
Health Evolution chairman David J. Brailer says: "Pharmaceutical and biotechnology companies increasingly rely on information technology to create new therapies. We are enthusiastic to be part of CambridgeSoft, the leader of that change."
In connection with the investment, Adam Grossman will represent Health Evolution Partners on the CambridgeSoft board of directors.
"I am delighted
Sun Capital Partners, a private investment firm specialising in leveraged buyouts and other investments in companies, has sold its affiliated portfolio company Timothy’s Coffees of the World to Green Mountain Coffee Roasters for approximately USD157m in cash, subject to adjustment.
Timothy’s is a supplier of specialty coffees to offices, hotels, grocery stores, retailers and food service establishment throughout Canada and the US.
Immediately prior to the purchase, Timothy’s sold its franchise restaurant operation to Bruegger’s Enterprises, another Sun Capital portfolio company which operates fast casual neighborhood bakery-cafes in 24 states. The restaurant operation includes 139 locations across Canada doing business
Future Capital Partners, the GBP6bn alternative investment boutique, has appointed Andrew Derrington to its business development team.
Derrington’s (pictured) role with FCP will primarily focus on building strong working relationships with both clients and intermediaries.
FCP’s investment opportunities are available to investors through financial institutions, wealth managers, IFAs and accountants, and Derrington will help to further develop FCP’s network of these intermediaries.
He will also play a significant role in business development and client liaison.
Derrington has over ten years’ experience within the investment arena, the last four of which has been spent within FCP’s specialist area of alternative
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