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Global funds services and solutions provider Ocorian has appointed Paul Spendiff as head of business development, global funds as it continues to expand its support for international fund managers.
Warburg Pincus has joined a growing list of investment firms looking to target local currency investment opportunities in China through its first ever yuan-denominated fund, which is targeting a RMB3 billion ($439 million) fundraise, according to a report by Reuters.
Carlyle Group’s proposed Cotiviti Inc deal, has attracted offers of support from Apollo Global Management, HPS Investment Partners and Blackstone to provide a $5.5 billion loan – the largest buyout financing ever arranged by private credit firms – to help finance the acquisition of the healthcare technology firm, according to a report by Bloomberg.
NextPower UK ESG a solar infrastructure fund, which is backed by the UK government’s new national infrastructure bank, has held its third close with £595 million (€675m) in capital commitments, according to a report by Investment & Pensions Europe.
International Mexican restaurant group Zambrero has secured an investment from pan-European private capital manager Metric Capital Partners, with the firm taking a minority stake in the business alongside one other investor for a cumulative investment of approximately £143 million.
The transaction represents the first ever external capital taken by Zambrero.
Founded in 2005, Zambrero has more than 245 quick-service restaurants across the globe and is now the largest Mexican restaurant group in Australia and the eighth largest in the world. Zambrero has opened five restaurants to date in the UK off the back of its rollout in Ireland.
Zambrero
Thomas H Lee Partners, a private equity firm investing in middle-market growth companies, has appointed former Willis Towers Watson CEO John Haley as an executive partner in the firm’s Financial Technology and Services investment group.
AIFs and UCITS saw net outflows of €278 billion in 2022, compared to net inflows of €888 billion in 2021, according to the latest monthly Investment Fund Industry Fact Sheet Net from the European Fund and Asset Management Association (EFAMA). Assets of European investment funds meanwhile, declined by 12.4%, to drop below the €20 trillion threshold.
According to EFAMA’s data, UCITS suffered net outflows of €175 billion in 2022, the first annual decline since 2011.
Net sales of AIFs, meanwhile turned negative for the first time ever (€101 billion). EFAMA says this was due to the decision taken by several pension
Fund and corporate services provider ZEDRA, has completed the integration and rebrand of Atlas Fund Services, which it acquired in November 2022, to ZEDRA. The new ZEDRA team in Charlotte, North Carolina and Curaçao will service both seasoned and emerging managers of hedge and private equity funds based in the US and throughout Latin America.
A new era in private credit awaits as returns approach levels typically seen in buyout, according to new research by Adams Street Partners. “Over the past year or so, private credit has shed its reputation as private equity’s boring sibling,” says Jeff Diehl (pictured), Managing Partner and Head of Investments at the firm, adding that in the current climate, a high-quality private credit fund has the potential to produce a 14-15% gross IRR, mostly realized through quarterly cash distributions.
Finastra, a London-based fintech owned by technology focused private investment firm Vista Equity Partners, is exploring a possible sale of its banking unit in a deal that could be worth as much as $7 billion, according to a report by Reuters.
The report cites several unnamed sources as confirming that Finastra is working with a financial adviser as it examines options for the business which provides universal banking software allowing banks and credit unions to run core processes.
According to the report, the business currently generates about $1.7 billion in revenue and roughly $500 million of earnings before interest, tax,
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