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Drawbridge, a cybersecurity software and services firm specialising in the needs of hedge fund and private equity managers, has appointed Nick Pastoressa as its new chief product & technology officer to oversee the company’s technology strategy and platform evolution, and lead both the product and technology teams.
US private equity firm KKR & Co Inc is on the verge of making a second non-binding offer to acquire debt-laden telecoms group Telecom Italia’s fixed-line network, according to a report by Reuters.
Eurazeo CEO Virginie Morgon, is to depart the company, along with general secretary Nicolas Huet and mid-large buyout head Marc Frappier, in April, following the appointment of a new executive board at the French listed investment company, according to a report by unquote.com.
Oakley Capital, a pan-European, mid-market private equity investor, has closed Oakley Capital V at its hard cap of €2.85 billion, exceeding its €2.5 billion target. Fund V, which is almost double the size of its predecessor fund, attracted strong support from new and existing investors.
Carlyle Group and Louis Bacon, founder and CEO of hedge fund firm Moore Capital Management, are to sell commodity trader Traxys to a group of investors led by high-frequency trading firm Optiver, according to a report by Bloomberg.
Dutch firm Optiver is a specialist market maker in liquid electronic markets including exchange-traded funds, while Traxys is a mid-sized physical trader with a focus on metals like rare earths, cobalt and tin. According to Traxys’ chief executive officer Mark Kristoff, the deal could see the company partner with Optiver to develop new derivatives markets for those niche metals.
The deal, which
The value of Australian venture capital investments fell by around a third in 2022, mirroring slumps in listed global technology companies and venture markets, according to a report by Bloomberg.
Zachary Jacobs has joined Kramer Levin’s New York office as a partner in the firm’s Private Equity practice. The firm has added six prominent lateral partners in key practice areas since the beginning of 2023.
Jacobs represents clients in public and private acquisitions, divestitures, and joint ventures, focusing on representing private equity funds and their portfolio companies in a wide range of industries, including health care, life sciences, chemicals and manufacturing.
Jacobs joins Kramer Levin from Morrison Cohen, where he was a partner. He began his career at Sullivan & Cromwell.
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.
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