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Berkshire Partners, a Boston-based private equity firm, has signed a definitive agreement to make an equity investment in Grocery Outlet, a grocery retailer with over 135 stores in the Western US.
Terms of the transaction were not disclosed.
Headquartered in Berkeley, California, Grocery Outlet is a third-generation family-owned business that was founded in 1946 by Jim Read. Today the company is led by co-chief executive officers MacGregor Read and Eric Lindberg.
Grocery Outlet is able to offer brand name products up to 60 per cent below traditional retailers by purchasing discounted surplus inventory directly from more than 2,500 grocery manufacturers.
In an environment where efficient and cost-effective access to research is more important than ever, investment managers around the world are turning to TheMarkets.com for a comprehensive research and estimates platform designed to simplify and speed buy-side workflow.
TheMarkets.com offers a range of products designed to save asset managers time and money, providing high-quality equity and fixed-income research, alerts that also include filings and news headlines, and analysis of research activities and programmes. It also delivers estimates covering thousands of companies worldwide as well as applications that help clients use and manipulate estimates data, and broker relationship management tools.
The
DN Capital’s portfolio company Shazam, a mobile music discovery provider, has received an investment from Kleiner Perkins Caufield & Byers.
This investment is one of the few by KPCB into a European technology company. KPCB has assisted digital consumer businesses such as Google and Amazon.
Shazam says that 50 million people around the world have now used the service, an increase of 15 million users since February this year. The service is now live in more than 150 countries.
DN Capital has worked closely with Shazam through this period of growth, and has been a key supporter of
Some 84 per cent of institutional investment managers expect corporate earnings to increase in the coming quarter and 84 per cent believe that global growth will accelerate in the next six months, according to a poll by Northern Trust Global Advisors.
The NTGA survey showed the most optimistic economic expectations from investment managers since the quarterly poll was begun a year ago. But managers, still hesitant to call a buoyant V-shaped recovery, see potential fragility in the system.
Three-quarters (76 per cent) of survey respondents expect interest rates to hold steady, reflecting a view that central banks will be hesitant
Investor demand for Ucits funds continues to strengthen, with net Ucits sales of EUR36m in August, according to the European Fund and Asset Management Association.
From January to August 2009 total net sales of Ucits reached EUR128bn.
Long-term Ucits (excluding money market funds) increased their net sales to EUR32bn in August, reflecting net inflows into equity, bond and balanced funds.
Money market funds also attracted positive net inflows (EUR4bn) in August, albeit at a slower rate than in July (EUR11bn).
Special funds reserved for institutional investors continued to attract net inflows in August of EUR3bn.
Total assets of Ucits and
Asia Pacific’s population of high net worth individuals fell 14.2 per cent to 2.4 million in 2008 amid a global economic downturn and market volatility, according to a report from Merrill Lynch Wealth Management and Capgemini.
The combined wealth of the region’s high net worth individuals dropped 22.3 per cent to USD7.4trn.
Ultra-high net worths, or individuals with investable assets of at least USD30m, witnessed steeper wealth erosion with the number of ultra-HNWIs in Asia Pacific falling 29.6 per cent to 14,300 and their total wealth shrinking 35.1 per cent.
Growth in Asia Pacific’s HNWI population and wealth is
Venture capital firms Tamir Fishman Ventures, Carmel Ventures, The Challenge Fund II and Motorola Ventures are planning to sell their stake in CopperGate Communications, to Sigma Designs.
Both CopperGate and Sigma are US-based developers of system-on-a-chip semiconductors.
The total transaction is valued at USD160m.
The estimated amount of cash to be paid by Sigma on the closing date is approximately USD92m, plus the amount of cash and cash equivalents estimated to be held by CopperGate at the closing, net of CopperGate transaction expenses and debt outstanding at the closing.
In addition, Sigma will issue shares of its common stock to
Conning, a provider of asset management and consulting services to the insurance industry, has been acquired by funds managed by Aquiline Capital Partners, a New York-based private equity firm investing in the financial services sector.
“We are pleased to close this transaction with Aquiline. This is a very exciting time for the entire Conning team,” says Salvatore Correnti, chief executive of Conning. “We have received excellent response to our partnership from both clients and prospects. We look forward to enhancing and extending our relationships and services with current and future clients.”
Amarin has entered into a definitive agreement with several existing and new institutional and accredited investors for a USD70m private placement.
The private placement of units for USD70m consists of USD66.4m in cash proceeds and USD3.6m from the conversion of convertible bridge notes.
The financing was led by existing investor, Fountain Healthcare Partners, on behalf of funds affiliated with other existing investors Sofinnova Ventures, Orbimed Advisors and Longitude Capital. The new investor group was led by funds affiliated with Abingworth and included APG Asset Management, Great Point Partners, Tavistock Life Sciences and RA Capital.
In consideration for the USD66.4m received
SEI has signed ten new collective investment trust managers over the past eight months.
According to Cerulli Associates, CITs represented about USD733bn in employer-sponsored retirement plans, including defined benefit and defined contribution plan assets as of 30 June 2009.
SEI has specialised in the CIT market for more than 15 years, but has experienced even stronger growth as the adoption of CITs in the retirement space becomes more prevalent. Public policy and litigation has increased the scrutiny of retirement plan costs and fees, pushing plan sponsors toward lower-cost solutions such as CITs. Technology enhancements have also played a role in
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