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Cross Atlantic Capital Partners has appointed William L. Rulon-Miller as partner and managing director.
In his new role, Rulon-Miller will work closely with the Cross Atlantic team in its management of the firm’s portfolio companies, investment evaluations, fund raising initiatives, as well as working with and providing guidance to the firm’s portfolio companies’ entrepreneurs and management teams.
Rulon-Miller brings over 33 years of investment banking experience to Cross Atlantic. Most recently he served at Janney Montgomery Scott in Philadelphia as co-head of the investment banking department.
“In addition to his exceptional breadth and depth of experience, Bill is quite familiar
Madison Capital Funding, a subsidiary of New York Life Investments focused on middle market private equity sponsors, has acquired a portfolio of investments representing 40 different borrowers.
The collective middle market commitments total over USD141m.
"Despite the consolidation trend in the industry and challenging market environment in which we operate, Madison Capital continues to actively pursue financing opportunities in the middle market," says Chris Williams, senior managing director at Madison Capital.
In addition to this portfolio acquisition, Madison Capital recently closed two new platform financing deals. The first was for Spire Capital Partners in its acquisition of ServerVault by its
Albion Ventures, a UK venture capital investor, has launched a D share offer for the Albion Development VCT.
The VCT’s aim is to provide investors with a regular and predictable source of income, combined with the prospect of long term capital growth.
Albion Ventures intends to achieve this by enabling investors to participate in a balanced portfolio of lower-risk, often asset-backed investments that provide a strong income stream combined with investment in a smaller number of higher-risk companies with greater growth prospects.
Investments are structured in such a way as to reduce the risks normally associated with investment in small
Low Carbon Accelerator has committed to make a further equity investment of GBP1,000,000 in ResponsiveLoad, trading as RLtec.
The commitment is part of an overall GBP5,790,000 funding round attracting two new investors with smart grid expertise, Naxos Capital Partners and the Carbon Trust Investment.
The funds will be drawn down in two tranches. The first tranche of GBP2,300,000, which completed today, includes an LCA investment of GBP397,003. The second tranche of GBP3,490,000 will be subject to the completion of certain commercial milestones.
LCA has previously invested an aggregate GBP2,353,500 in Rltec representing an 82.6 per cent equity stake. This
Funds holding a final close in quarter three 2009 raised aggregate capital of USD38bn, just 45 per cent of the USD84bn raised in quarter two 2009, according to a report by Preqin.
In comparison with the recent record breaking quarters seen in 2007, the drop is even more steep with Q3 2009 figures equivalent to just 18 per cent of the record USD208bn raised in Q2 2007.
The number and aggregate fundraising target of funds in market has dropped considerably over the course of the year, which Preqin says is due primarily to a slowdown in new fundraising launches, plus
Golden Meditech’s hospital subsidiary, Golden Meditech Hospital Group, has entered into an agreement to issue senior five per cent redeemable convertible notes due in 2014 with an aggregate principal amount of USD28m (HKD217m).
The monies raised will be used to accelerate business developments in China.
Under the agreement, Golden Meditech Hospital Group will issue 15,747 new shares to investors upon full conversion, valuing the entire group in excess of USD200m. Upon full conversion, the note holder will hold approximately 13.61 per cent of enlarged share capital of Golden Meditech Hospital Group, and Golden Meditech’s holdings will be diluted from current
Hellman & Friedman, a private equity investment firm based in San Francisco, has completed the closing of Hellman & Friedman Capital Partners VII, a USD8.8bn fund and the largest in the firm’s history.
With the closing of HFCP VII, Hellman & Friedman has raised over USD25bn of committed capital since its first partnership in 1987.
The firm has also completed a management transition plan that was previously announced to limited partners in mid-2008.
Philip Hammarskjold has been appointed chief executive officer, succeeding Brian Powers (pictured) who will become the firm’s chairman.
Patrick Healy has been named deputy chief executive and
American Capital, parent company of European Capital Financial Services, has closed its Frankfurt affiliate.
The closure of the Frankfurt office is in response to the global downturn in the private equity markets over the past two years.
The assets originated by the Frankfurt office of European Capital will continue to be owned by European Capital Limited and continue to be managed by the London branch of ECFS, headed by Nathalie Faure Beaulieu.
"We would like to thank Robert von Finckenstein, managing director Germany, and his team for their valuable contribution in building a significant Mezzanine franchise in the DACH region
Hodes Weill, a global advisory and principal investment business focused on the real estate private equity and private funds industry, has appointed Robert Levinson as principal, chief financial officer and chief administrative officer.
Previously, Levinson was the chief financial officer at Coventry Real Estate Advisors, a New York-based real estate private equity fund.
Prior to joining Coventry, he was a senior manager in the audit department at Ernst & Young Kenneth Leventhal, a public accounting firm focused on the real estate industry.
“We are pleased to welcome Rob to our team, and we expect to benefit significantly from his
Blue Belt Technologies, a Pittsburgh-based medical device company which develops surgical instruments for use in orthopaedic and neurosurgery procedures, has closed on a USD2.4m private equity series A round of financing.
The round was led by private investors and included the Pittsburgh Life Sciences Greenhouse and Innovation Works (Pittsburgh) and consisted of both new investments and the conversion of existing convertible notes.
"This investment will be used to finalise development and prepare for FDA submission of our core product, the Precision Freehand Sculptor, and will provide the resources necessary to prepare for full market release of our orthopaedic and neurosurgical
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