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HarbourVest Global Private Equity, a closed-end investment company listed on Euronext Amsterdam, has reported a 3.3 per cent rise in net asset value over the six months to 31 July 2009.
As at 31 July 2009, HVPE’s NAV was USD652.0m or USD7.86 per share. This represents an increase of USD0.25 per share, or 3.3 per cent over the six months from 31 January 2009 (USD7.61).
Of the USD0.25 increase in NAV per share, USD0.02 resulted from HarbourVest US fund of funds, USD0.11 from HarbourVest non-US fund of funds, USD0.06 from HarbourVest direct funds, and USD0.22 from unrealised foreign currency movement.
Quantum Energy Capital has held its final closing at USD2.5bn for Quantum Energy Partners V, a private equity fund dedicated to the energy industry.
Founded in 1998, Quantum has more than USD5.7bn of assets under management. Champlain Advisors acted as placement agent.
Quantum remains committed to the same investment strategy it has refined since its founding, targeting investment opportunities between USD100m and USD400m with proven management teams and whose companies have sustainable advantages within well-defined segments or strategies in the energy industry.
Quantum primarily focuses on the oil and gas upstream, midstream and power sectors, but considers opportunities across the
eBureau, a provider of predictive scoring and information services for online advertisers, has closed a USD10m round of series C financing led by venture capital firm Tenaya Capital.
Existing series A and B investors Split Rock Partners and Redpoint Ventures also participated in the financing round.
"Our investment demonstrates confidence in eBureau’s management team, the direction the company is taking and the opportunity at hand," says Ben Boyer (pictured), managing director of Tenaya Capital. "We are impressed with the growth in eBureau’s business and believe that, with its real-time predictive analytics technology, the company is exceptionally well-positioned to help online
CarryQuote a provider of integrated desktop and mobile financial information solutions, has signed its reseller agreement in the US with EmergingTraders.com, an alternative investment management company.
The partnership enables EmergingTraders.com to offer a branded version of the CarryQuote solution to its universe of managed futures traders and investors, and expands CarryQuote’s domestic presence.
The CarryQuote solution provides real-time pricing data, actionable analytics, and personalised alerts through an integrated mobile and online interface.
By offering a branded, white-label application for investors, EmergingTraders.com can increase its number of customer touch-points and generate greater visibility among its user base of more than 10,000
TiE-Arizona, the local chapter of the global association of entrepreneurs, will host a venture capital event that brings together entrepreneurs with top investors on 6 October.
This is the ninth year that TiE-Arizona has held the event. Local entrepreneurs are invited to attend and meet top venture capitalists from the nearby communities of Silicon Valley, Southern California, Utah and Colorado.
The six funds represented all invest in early stage enterprises and have either invested in Arizona or will actively look at Arizona companies in which to invest.
"This event has historically been one of the best forums in Arizona for
PrimeFundSolutions has received approval of its Luxembourg licence applications by the Luxembourg regulator CSSF and by the Luxembourg Minister of Finance.
The license allows PrimeFundSolutions to provide banking, custody and fund administration activities to Luxembourg regulated hedge funds and fund of hedge funds.
Erik Jens, chief executive of PrimeFundSolutions, says: “From a strategic perspective, having a local Luxembourg presence is considered essential for PrimeFundSolutions as this will provide us with a strong foundation for future growth in a regulated market and further strengthens our core business around the globe. As a sizeable alternative fund market and a well regulated jurisdiction,
Evolution Capital Partners, a Cleveland, Ohio-based private equity firm, has made an equity investment in American Eagle Mortgage, the fifth platform investment in Evolution’s current fund.
AEM, based in Lorain, Ohio, is a mortgage lender providing loans in Ohio, Kentucky and Florida. It is a FHA/VA approved lender, specialising in first time home buyer solutions.
"We are very impressed by American Eagle’s talented management team. They have proven to be a significant player in what has become a very volatile market. We look forward to partnering with management to continue to build on and expand American Eagle’s product offering," says
Sina, an online media company and mobile value-added service provider for China and global Chinese communities, has entered into a definitive agreement for a private equity placement of its ordinary shares with New-Wave Investment.
New-Wave is a British Virgin Islands company established and controlled by Charles Chao, Sina’s chief executive officer, and other members of Sina’s management.
At the closing, Sina will receive gross proceeds of USD180m, and New-Wave will receive approximately 5.6 million ordinary shares in Sina.
The closing of the financing is subject to customary conditions. The shares issued to New-Wave will be subject to a six month
The majority of private equity executives expect economic conditions to keep deal activity and debt availability relatively low until the end of 2010, according to a survey by KPMG.
Some 55 per cent of executives surveyed at the Dow Jones Private Equity Analyst Conference in New York said deal flow will remain low as buyers and sellers grapple with the effects of the economy, financing and other market issues.
Only 15 per cent of the respondents said they expected good quality deals of all sizes and sectors during the coming year, the KPMG survey found.
"Uncertainty continues to shackle the
Ben Merger Sub and Ben Holdings, corporations owned by funds advised by Apax Partners and formed for the purpose of acquiring Bankrate, have completed the merger of Ben Merger Sub with and into Bankrate, with Bankrate surviving.
On 22 July 2009, Bankrate announced that it had entered into a definitive agreement to be acquired and taken private by funds advised by Apax Partners, a global private equity firm with over USD35bn in funds under advice.
The agreement called for Bankrate shareholders to receive USD28.50 per share payable net to the holder in cash, without interest and less any applicable holding
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