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The Riverside Company, a global private investment firm focused on the smaller end of the middle market, has held the final close of the Riverside Value Fund I (RVF I), at its target of $350 million in capital commitments.
Tim Franks, the head of KKR & Co’s private equity business in the UK and Ireland, has decided to quit just months after the firm closed it latest European buyout fund with $8bn in capital commitments, according to report by Bloomberg.
Gen II Fund Services (Gen II), an independent private capital fund administrator, is to acquire Crestbridge, a European provider of private capital fund administration solutions. Terms of the transaction, which is subject to customary regulatory approvals, have not been disclosed.
RCP Advisors, a sponsor of private equity funds-of-funds, secondary funds, and co-investment funds focused on North American lower middle market buyouts, has held the final close of the RCP Secondary Opportunity Fund IV with $797m in capital commitments, ahead of its $500m target.
Cordillera Investment Partners, an investment management firm focused on investments in niche, non-correlated assets, has closed Cordillera Investment Fund III with $443m of commitments from institutional allocators.
Pan-European private equity firm Squircle Capital has appointed Delfin Rueda as Managing Director of Finance. Rueda has more than 30 years of experience in major financial institutions, including consulting, financial services, insurance, as we all PE and VC.
Suffolk Technologies, an institutional venture capital firm affiliated with $5bn US construction firm Suffolk, has closed its inaugural fund, the Suffolk Technologies Fund I, with $110m in capital commitments.
According to Suffolk Technologies, the fund will invest in early-to-growth stage companies across construction technology (contech) and property technology (proptech) that are “creating solutions for safer, more sustainable and efficient construction”.
In turn, these businesses will address issues such as the national lack of affordable housing, high rates of emissions from construction and real estate projects and the increased need for efficient infrastructure investment as a result of the Infrastructure Investment
Audax Private Equity has closed two new funds – Audax Private Equity Fund VII and Audax Private Equity Origins Fund I in excess of their respective fundraising targets with $5.25bn and $774m in commitments, respectively.
Global private equity and venture capital deal value and volume continued their downward trend in June, with total deal value for the month slipping 59.3 per cent year on year to $27bn from $66.4bn in the same period a year ago, according to a report by The Business Times.
The report cites S&P Global Market Intelligence data as also revealing the the number of deals recorded in June fell by 44.9 per cent to 847, from 1,536 in same period last year.
The highest monthly deal value was seen in the US and Canada – $13.4bn across 301 transactions –
Global credit investment manager Marathon Asset Management has held the final close of the Marathon Secured Private Strategies Fund III, the third vintage of its closed-end asset-based lending strategy, at $1.7bn.
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