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MoneyFellows, an Egyptian fintech platforms, has first close of its Series B round with a $31 million investment led by CommerzVentures, Middle East Venture Partners (MEVP), and Arzan Venture Capital.
Invenfin, National Investment Company (NIC) as well as existing investors such as Partech, Sawari Ventures, 4DX and P1Ventures also participated in the round.
MoneyFellows is a mobile-based platform that digitises money circles or Rotating Savings and Credit Associations (ROSCAs) that are widely known as “Gameya” in Egypt and other Arab countries.
The round will allow MoneyFellows to accelerate its exponential growth by diversifying its portfolio of services and expanding their
Fortress Investment Group (Fortress) has been ranked as the second fastest-growing brand among 50 alternative investment managers included in the second edition of the Alts 50 report, published by Peregrine Communications.
The report provides a qualitative and quantitative assessment of the integrated marketing and communications activities of the world’s 50 largest alternative investment managers (measured by assets under management).
Fortress received the study’s second-highest score for Brand Momentum, which assesses how well firms have grown Brand Awareness over time. According to the report, “Of all the metrics used in [the] study, Brand Momentum is most closely aligned with ‘moving the
Broadridge Financial Solutions has launched a new end-to-end managed service solution to allow European asset managers to meeting their compliance obligations for the upcoming Sustainable Finance Disclosure Regulation (SFDR).
From 1 January, 2023, SFDR requires asset managers to consider and disclose in a consistent manner how ESG factors are adopted in their decision-making processes. For Articles 8 and 9 funds, this includes a Pre-contractual Disclosure (PCD), Periodic Disclosure (PD) and Website Disclosure (WD).
Additionally, starting 30 June, 2023, asset managers will also be required to produce a Principal Adverse Impact (PAI) statement to determine the impact of their investment
Nuveen, the investment manager of TIAA, is to acquire a controlling interest in Arcmont Asset Management, a European private debt investment manager with $21 billion in committed capital, in a deal reportedly worth over $1 billion.
KKR has completed the previously announced sale of Minnesota Rubber and Plastics (MRP), a provider of materials science-based elastomer and thermoplastic solutions, for a reported $1 billion in cash to Trelleborg Group (Trelleborg), a specialist in engineered polymer solutions.
All of MRP’s more than 1,450 employees across six countries and four US states, including hourly manufacturing production, technical and administrative employees, are receiving substantial cash payouts in connection with the closing as a result of the employee ownership plan implemented by KKR in 2018.
Payments vary based on tenure and employment status, with employees who joined MRP in late 2018
UBS Asset Management’s Real Estate & Private Markets (REPM) has acquired sewikom, a fibre-to-the-home (FTTH) operator in North Rhine-Westphalia.
The acquisition is a continuation of UBS Asset Management’s strategy of investing in German rural FTTH operators, following last year’s acquisition of Lünecom, which enables the business to deepen its construction expertise whilst also continuing its own successful fibrw network roll-out under new management.
UBS Asset Management will invest further capital in sewikom to allow it to continue the expansion of its fibre network and reach approximately 250,000 homes across the Hoxter and Lippe districts in Germany. UBS is acquiring
Copia Power (Copia) has completed a strategic merger with Birch Infrastructure’s (Birch) renewable energy business, building on a multi-year partnership between the two firms.
Copia is a renewable development platform formed in 2021 by global investment firm Carlyle (NASDAQ: CG) to develop and operate large-scale renewable energy projects and seek to play a significant role in the US energy transition. Copia believes that the integration strengthens the platform and reconnects a leadership team that has developed and constructed over 3.5 GW of renewable assets together.
As part of the integration, Ray Henger, former Chief Development Officer of sPower, a renewable
Jasper Ridge Partners, a firm providing customised investment solutions for families, foundations and global institutions, has appointed Greg Ruiz as a partner in its private equity practice.
Together with Rick Hayes, Jenny Chen and Jamie Scarbrough, Ruiz will help lead the team’s deep bench of investment talent and contribute to the ongoing expansion of its co-investment and direct private equity capabilities.
Ruiz comes to Jasper Ridge Partners from the California Public Employees’ Retirement System (CalPERS), the USA’s largest pension fund, where he led the Private Equity program focused on private equity investments across a broad range of strategies and geographies.
Grant Avenue Capital (Grant Avenue), a lower middle market healthcare-focused private equity firm, has appointed Brian Berkin as a managing director, effective immediately. Berkin will be responsible for sourcing and executing investments across Grant Avenue’s subsectors of focus, including Services, Devices, Pharma & Pharma Services, and HCIT.
A seasoned private equity professional with nearly 20 years of experience transacting across middle market healthcare, Berkin brings significant origination, due diligence, capital raising, and operations experience to Grant Avenue. Throughout the course of his career, he has worked hand-in-glove with management teams to successfully grow their businesses. At Grant Avenue, Berkin will help
Kedge Capital, the company which makes private equity and hedge fund investments on behalf of Ernesto Bertarelli, one of Switzerland’s richest men, and his family, is looking to attract other ultra-wealthy investors, according to a report by Bloomberg.
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