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Hanover Investors has raised £150 million for its third private equity investment fund, which has a target of £300 million and will focus on acquisition opportunities in small cap public markets. Fund III is expected to hold its final close by June 2023.
Carlyle Group has completed its search for a successor to chief executive officer Kewson Lee, who abruptly resigned from the private investment firm back in August last year, with the appointment of former Goldman Sachs executive Harvey Schwartz to the role, according to a report by the Financial Times.
QAD, a business software provider and a portfolio company of Thoma Bravo since being taken private by the software investment specialist for $2 billion in 2021, is to acquire employee productivity platform Redzone in a deal worth around $1 billion, according to a report by Reuters.
Founded in 2013, Redzone offers enterprise software solutions primarily for the manufacturing industry, and according to QAD is on course to achieve an annual revenue rate of $100 million.
The deal will help QAD, which provides cloud-based planning and resources solutions software to manufacturing companies, expand its footprint across different sectors within the manufacturing industry.
Healthcare investment firm Patient Square Capital, has closed its inaugural fund with approximately $3.9 billion in total capital commitments, surpassing its $3 billion target, which the firm says makes it the largest first-time private equity fund ever raised, and the largest fund ever raised by a dedicated health-care-focused private equity, growth equity, or venture capital firm.
Funds managed by global investment firm Carlyle and private equity firm Stellex Capital Management are to sell Titan Acquisition Holdings, a bi-coastal specialist in ship repair services and marine and heavy complex fabrication, to an affiliate of Lone Star Funds.
The transaction is expected to close in 2023 subject to customary closing conditions, including certain governmental approvals. Financial terms of the deal have not been disclosed.
Titan comprises Vigor Industrial LLC, an infrastructure, defence, and maritime services company based in Portland, Oregon; MHI Holdings LLC, a ship repair, maintenance, and other ship husbandry services company based in Norfolk, Virginia;
Just Climate, a climate-led investment business established by impact firm Generation Investment Management, is close to reaching the $1 billion fundraising target set for its first fund – a growth equity strategy focused on industrial decarbonisation – according to a report by Pensions & Investments Online.
The report cites unnamed sources as revealing that the fund will look to take minority stakes in asset-heavy businesses and hold those assets for between three and five years, with a final close expected later this year at its $1 billion target.
Last week, Just Climate announced its first three investments. According to a
Huatai International Private Equity Fund, Huatai Securities’ Greater China-focussed private equity investment platform, has completed an investment in Jiangsu Shekoy Semiconductor New Material Co. Ltd, taking total funding in the business in this latest round to RMB1.745 billion (£213.5m).
Ara Partners, a private equity firm that specialises in industrial decarbonisation investments, has acquired a majority interest in Wattstor, a provider of automated carbon reduction and electricity cost-saving technology for small and medium-sized enterprises (SMEs) and mid-market industrial and commercial (I&C) end users.
janom, Wattstor’s main existing investor, is to retain a minority holding in the business.
Headquartered in the UK and Czech Republic, Wattstor currently operates sites in the UK, Czech Republic, Slovakia, Croatia and Poland, and will use the new funding to increase its European foothold, launch its Energy-as-a-Service (EaaS) finance offering, boost R&D, and expand the team
MBK Partners, a private equity firm focused on investments in North Asia, has acquired Unimat Retirement Community Co, a Japan-based provider of elderly care services, in a deal worth over $300 million, according to a report by Reuters.
The number of M&A deals targeting UK financial advisers and wealth managers has risen 11% from 398 to a record high of 440 in the past year, according to new data from international law firm Mayer Brown, with the increase being driven in large part by private-equity-backed ‘consolidators’.
These firms have been very active in acquiring smaller IFAs over recent years as they seek to build major ‘platform’ businesses in what Mayer Brown describes as a ‘highly fragmented’ sector.
Mayer Brown says consolidation can deliver significant economies of scale and allow PE-backed firms to invest more heavily in technology and
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