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KKR is to acquire CoolIT Systems, a provider of scalable liquid cooling solutions for demanding computing environments. The investment will support the CoolIT’s ability to scale and serve its global customers across the data centre market.
Dextra Partners, a multi-strategy private equity firm focused on the middle market, has hired five new team members across several functions. The new team members all previously worked together with Dextra’s six founding partners at their prior firm, GoldPoint Partners.
They new recruits are: Richard Hung – Principal, Investments; Alexander Krostich – Senior Associate, Investments; Gabriella Paradiso – Senior Associate, Investor Relations & ESG; Danielle Rounick – Director, Investor Relations & Business Development; and Leonidas Vasilakos – Vice President, Investments.
Following the announcement of its formation earlier this year, Dextra has $2.7 billion in investable capital from a select group
HV Capital, an early-stage and growth venture capital investor has held the final close of HV Capital Fund IX at €710m, making it the largest fund ever raised by the firm. The fund will invest in ‘technology disruptors’ across all growth phases.
A $12.7 billion venture capital fund set up by New York-based hedge fund Tiger Global Management in October 2021 to support tech startups, has been hit hard by a decline in tech sector valuations with the fund suffering a 20% net loss as of December last year, according to reports.
Troy Broderick has been promoted to be the new chief operating officer of Goldman Sachs Group’s global mergers and acquisitions business, according to report by Reuters citing an internal memo as confirming the appointment.
Global Private equity firm Carlyle and Indian billionaire Azim Premji’s investment unit are both in talks to acquire a stake worth around $150 million in TVS Credit Services, an arm of scooter and motorcycle maker TVS Motors, according to a report by Reuters.
The report cites unnamed sources as confirming that the two are in competition to acquire a 20% holding in the the business, which has a valuation of around $612 million.
TVS Credit traditionally offers loans for two-wheel vehicles and used cars, supporting the business of its parent company, but recently expanded into personal, consumer loans and pre-approved
Investindustrial has held the final close of Investindustrial Growth III above its target at €1.1 billion. The fund will continue the strategy employed by Investindustrial’s previous two funds of making majority investments in European lower mid-market companies with strong internationalisation potential.
Investments will predominantly focus on companies headquartered in Italy, Spain, Portugal or Switzerland.
The fund completed its first investment in Arterex, a global, buy-and-build opportunity in the manufacturing of specialty medical compounds and devices, in Q4 2022.
Investindustrial’s previous two funds have cumulatively invested more than €1.0 billion across 13 platform investments and a further 35 add-on acquisitions, having
US private equity firms stepped up their acquisitions of UK businesses by 35% last year, from 134 acquisitions in 2021/22, to 181 in 2022/23, according to new research released by international law firm, Mayer Brown.
UK company valuations had already been relatively depressed in comparison to other European nations, following concerns over Brexit, but the fall in sterling following the last October’s Kwarteng budget, made them even more attractive to US investors.
Paul Rosen, Partner at Mayer Brown, says: “US PE houses still see the fall in sterling as an opportunity to try to acquire high quality assets in
Sullivan Street Partners, a UK-based mid-market private equity investor, is to acquire diagnostic services business Tracerco, alongside longstanding Sullivan Street investor, Scottish family office Souter Investments, from London Stock Exchange-listed firm Johnson Matthey for c£55 million.
The deal is expected to complete in the second half of 2023.
Tracerco is a global business providing specialised detection, diagnostic, and measurement solutions, operating out of sites in 16 countries to service over 50 jurisdictions. Tracerco uses innovative proprietary technologies developed in the UK and Intellectual Property in both nucleonics and chemical tracing.
Sullivan Street brings extensive carve-out and operational expertise
Laub Capital, a distressed asset investment fund with a focus on investment in European non-performing loans, has appointed Andrea Novak as chief financial officer based in the firm’s Budapest office.
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