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Chase Coleman’s technology-focused investment manager Tiger Global is exploring options to cash in a part of its $40 billion portfolio of privately held companies through secondary market sales, according to a report by Bloomberg.
HSBC’s purchase of Silicon Valley Bank’s UK arm and government attempts to foster innovation outside the capital are drawing greater attention to the country’s VC ecosystem
With the number of IPOs down globally and London losing high-profile listings to the US, trade sales and the secondary market will be key this year
There has been a marked shift in the UK away from larger buyouts into the mid-market. Despite an overall decline in private equity last year, deal activity here is showing resilience
Pantheon, a specialist global private markets investor, has held the final close of its latest private credit secondary offering, Pantheon Credit Opportunities Fund II program, having secured $590 million in commitments from investors, exceeding the initial target size.
Funds affiliated with Crosspoint Capital Partners have agreed to pay $667 million to acquire all of the issued and outstanding common shares of Absolute Software, a provider of “self-healing, intelligent security solutions”.
Under the terms of the deal, Absolute shareholders will receive $11.50 per Common Share in cash on completion of the acquisition, corresponding to an enterprise value of approximately $870 million, inncluding debt.
The cash consideration represents a premium of 34% and 38% to the closing price and 30-day volume-weighted average price, respectively, of the Common Shares on the Nasdaq on 10 May, 2023.
A new ranking of the performance of private equity firms in growth capital investments shows a strong dominance of US companies, with Japan, Vietnam, Hong Kong, and India also featuring in the top 20. A total of 12 out of 20 top companies are from the US.
Neither European nor UK-based growth capital players made it onto the list of worldwide firms in the first edition of the HEC Paris-DowJones Growth Capital Performance Ranking of Growth Capital Funds, an addition to the HEC Paris – DowJones Private Equity Rankings series.
The three top companies are US-based Ampersand Capital Partners
Private investment major KKR is to increase its majority holding in Seiyu, a nationwide supermarket chain in Japan, by acquiring Rakuten’s stake in the business. The deal sees KKR up its stake from from 65% to 85%.
KKR and Rakuten, together with Seiyu’s third shareholder, Walmart, have collaborated to support the company’s growth since KKR and Rakuten first invested in the business in 2021. Support initiatives have included improving product quality, user experiences, and store operations, and renovating and refurbishing stores.
KKR is making its investment from its Asian Fund IV. Further details of the investment have not been disclosed.
Mediterrania Capital Partners, a private equity firm focused on growth investments for SMEs and mid-cap companies in North Africa and Sub-Saharan countries, has acquired a stake in Moroccan pharmaceutical company Laprophan through its fund MC IV, alongside Germany’s development finance institution DEG, Proparco and FMO.
Founded in 1949 by Abderrahim Bennis, Laprophan distributes its own branded products and imported finished products from large international laboratories, providing patients and healthcare professionals with a wide range of medical drugs covering over 40 specialties. Laprophan also exports products to more than 30 countries across Africa and the Middle East and is an internationally
HarbourVest Partners has appointed Javier Rodriguez as a managing director and head of client operations to oversee integration of the firm’s client experience, investment accounting, treasury, portfolio analytics, and performance measurement teams.
Rodriguez joins HarbourVest from Goldman Sachs & Co, where he spent almost 20 years in various roles throughout APAC, EMEA, and the Americas. Most recently he was a managing director, and head of RIA custody operations and client experience. In that role, Rodriguez was responsible for executing a multi-year scale and product roadmap, reducing operational costs, and improving the client experience through the deployment of new technologies and
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