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Senate Democrats have a provision in forthcoming US climate and tax legislation that would allow the carried rate interest loophole to be closed or at least narrowed, according to a report the New York Times.
Carlyle is to acquire a controlling stake in Ocmis Group (Ocmis), a manufacturer of advanced irrigation systems for the agricultural market, partnering with historical shareholders including the Montorsi family and the management team.
Equity for the investment will be provided by Carlyle Europe Partners V (CEP V), a €6.4bn fund investing in European opportunities across a range of sectors and industries.
Founded in 1970 and headquartered in Castelvetro di Modena, Italy, Ocmis designs, manufactures and sells a comprehensive range of technologically advanced sprinkling irrigation solutions and related accessories for use in the agricultural sector.
Carlyle will seek to continue
The Carlyle Group Inc is making changes in its executive leadership team. Chief executive officer Kewsong Lee’s five-year employment agreement is coming to a close at the end of 2022 and both the company’s board of directors and Lee have mutually agreed that the time is right to initiate a search for a new CEO for the global investment firm.
Lee has stepped down with immediate effect but will be available as needed to assist in a transition during the months ahead. The Board has appointed William Conway, co-founder, current non-executive co-chairman of the Board, and former co-CEO, to serve
Europe’s largest impact fund, the Nordic-born Summa Equity (Summa), is opening an office in Palo Alto this summer, its first outside of Europe. Th opening follows just a few months after Summa announced the launch of a USD2.4 billion impact fund.
Summa partners Tommi Unkuri, Gustavo Salem and Nick Roelofs will lead US operations, and they will be joined by a number of Summa staff, including investment director Anna Ryrberg. The new office is Summa’s fourth; beyond the Stockholm and Oslo offices, Summa opened an office in Munich in 2022.
Summa will be prioritising companies in healthcare, as exponential technological
Warburg Pincus, has agreed to invest $250 million in Montana Renewables (MRL), a renewable fuels business and subsidiary of Calumet Specialty Products Partners (Calumet) in the form of a participating preferred equity security. The investment values MRL at a pre-commissioning enterprise value of $2.25 billion.
The preferred equity investment is not interest-bearing and carries certain minimum return thresholds. In connection with the investment, Warburg Pincus will have a representative on MRL’s four-member board of managers.
Calumet also announced that Stonebriar Commercial Finance (Stonebriar) has invested an additional $350 million through a pair of sale and leaseback contracts on top of its
OMERS Private Equity is to acquire Pueblo Mechanical & Controls (Pueblo), a mechanical services provider, from Huron Capital Partners. Financial details have not been disclosed.
Founded in 2001, Pueblo provides HVAC and plumbing installation, retrofit and repair services to customers in education, municipal, and healthcare end markets. OMERS Private Equity will provide resources and expertise to further accelerate the Company’s growth and support its strategic expansion through M&A.
Weil Gotshal & Manges LLP acted as legal counsel for OMERS Private Equity and Solomon Partners served as financial advisor.
Fortes Partners Limited, a multi-disciplinary staffing group backed by Omni Partners, a London based alternative investment management firm, has acquired legal and secretarial staffing specialist DMJ Recruitment.
Founded in 2007, DMJ Recruitment is one of the largest London-based independent staffing businesses placing legal professionals and company secretaries in private practice and in-house roles.
Through Omni’s ownership, the business will operate as a brand within Fortes and extend its focus into other adjacent professional services areas, such as technology, accountancy and finance. The move aims to strengthen the portfolio of companies within Fortes whilst supporting the business’ expansion and growth.
Operating
Spanish private equity firm Queka Real Partners has acquired Valencian company Factory Colchón, a retailer specialised in mattresses and rest products.
Founded in 2004, Factory Colchón is a leading Spanish company in the design and distribution of sleep products. The Company sells through its shops and its own e-commerce channels. Factory markets its own brands, including Viscolchón, Viscoair, Viscolchón Salud, Viscosoja, GelMax and Cool Fresh.
Queka is a Spanish private equity firm that combines more than 50 years of experience investing in private capital, partnering with entrepreneurs and management teams in order to implement a solid development and sustainable growth
Xpansiv, a market-infrastructure platform for environmental commodities, is to acquire Evolution Markets, a brokerage firm in global carbon, renewable, and energy markets.
Raven360, a specialist in customer journey acceleration solutions, has closed an $8 million Series B funding round led by new investors Technology Venture Partners and Allos Ventures. Existing investors Nauta Capital and NXT Ventures also participated in the round.
Raven360 accelerates the customer decision-making process for enterprises by helping marketers develop and deploy buyer journey content within Digital Academies, which leads to faster purchasing decisions.
Raven360 will use this latest round of funding to expand its sales and marketing resources and make strategic go-to-market investments. Additionally, the company will enhance the platform’s UX/UI, and integrate machine-learning and AI capabilities to
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