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iCapital, a global fintech platform focused on access and efficiency in alternative investing for the asset and wealth management industries, is to acquire UBS Fund Advisor, UBS’s legacy proprietary US alternative investment manager and the feeder fund platform it manages.
Venture capital (VC) and private equity leaders are expecting a sub-Saharan African economic boom with GDP growth beating International Monetary Fund forecasts this year and next year, new research for blockchain-based mobile network operator World Mobile shows.
The IMF is predicting sub-Saharan Africa’s economy will expand by 3.7% this year and 4% next year and warns that the impact of Russia’s invasion of Ukraine and the global shock to oil and food prices is affecting the region, which is recovering from the after-effects of the Covid-19 pandemic and US interest rate rises.
However, the senior VC and private equity executives
Sango Capital (Sango), an Africa-focused investment firm, is to acquire a controlling stake in SOTIPAPIER, a paper packaging manufacturer in Tunisia from entities controlled by SPE Capital.
In addition to acquiring a majority stake, Sango intends to proceed with a tender offer process in accordance with the regulations of Tunisia’s Financial Market Council. Completion of the transaction remains subject to certain conditions precedent in relation to requisite clearances and approvals from the relevant Tunisian authorities.
Sango’s investment will support Sotipapier’s experienced management team in the execution of its long-term strategic plans that will further enhance the company’s capacity and product
The Riverside Company, a global private equity investor focused on the smaller end of the middle market, has acquired the backflow and gauge divisions of Heffernan Enterprises, Inc (Water Metrics) as the ninth add-on to its fire and life safety platform, Performance Systems Integration (PSI).
Based in Portland, Oregon, PSI is a single source provider of fire and life safety services in the Pacific Northwest, Mountain West and Northern California regions. The company provides customers with fire and life safety services including system inspection, service and monitoring, equipment and first-aid sales and cylinder repairs as well as installations for new
Perwyn has appointed Liam Coleman as an associate. Coleman will be based in Perwyn’s London office and will work primarily in the firm’s private equity team. This is the fifth hire Perwyn has made this year as the business continues to expand its operations in both London and Europe.
Coleman joins Perwyn from Bank of America Securities, where he began his career in 2019 within the UK & Ireland Investment Banking team. In his role at Bank of America Securities, Coleman worked on a number of high profile transactions, including Kerry Group’s $1.0 billion acquisition of Niacet and the Issa
LLR Partners has promoted Ryan Goldenberg, Michael Pantilione and Zack Sigal to partner. The trio has a combined 30-plus years as members of the LLR team.
Goldenberg has helped build LLR’s fintech and payments investment practice since joining in 2016. His current and former boards include Archer, Celero Commerce, DaySmart, Midigator, ParkHub and PCS Retirement, and he previously worked with eOriginal. Prior to joining LLR, Goldenberg was a vice president at Houlihan Lokey in the Private Growth Equity Capital practice. Previously, he served as an associate at Updata Partners and Kamylon Capital. Ryan began his career at Houlihan Lokey, assisting
Zitara, a physics and machine-learning powered battery management software company, has closed a $12 million Series A round led by Energy Impact Partners (EIP). Existing investors NextView Ventures, Collaborative Fund, and Trucks VC also participated in the round.
Based in San Francisco, Zitara builds cloud and embedded software for optimising the safety, reliability, and lifetime of battery-powered assets.
Zitara integrates seamlessly across a broad range of battery applications including stationary storage, micromobility, electric vehicles, consumer electronics, and satellites – for both manufacturers and operators of assets.
BPOC, a pure-play healthcare investor, has formed a new partnership with experienced pharmaceutical executive, Mark Scullion, to build a clinical research site platform serving the pharmaceutical market.
Scullion has spent more than 15 years in the clinical research industry and brings a unique understanding of the site selection process and value needs of pharmaceutical sponsors. He was most recently the Global Head of Trial Monitoring for Novartis AG, and also previously held leadership roles at Syneos Health and IQVIA, where he developed novel approaches to clinical trial design and execution. At Novartis Scullion led a group of clinical professionals delivering
Blackford Capital (Blackford), a lower middle market private equity firm, has exited its investment in Quality Aluminum Products (QAP) through a sale to Gibraltar Industries, Inc. (Gibraltar), a publicly-traded manufacturer and provider of products and services for the renewable energy, residential, agtech and infrastructure markets.
Acquired by Blackford Capital in January 2016, QAP manufactures aluminium and steel products including soffit, fascia, trim coil, rain carrying products and aluminium siding, and serves wholesale markets in the Midwest, Northeast and South.
Audax Private Equity (Audax) has completed the sale of WellSpring Consumer Healthcare (WellSpring) to Avista Capital Partners.
Established in 1999 and headquartered in Sarasota, Florida, WellSpring is a marketer of over-the-counter brands primarily in the skin care and gastrointestinal care categories. WellSpring’s product portfolio includes long-standing brands such as Bactine, Bonine, Emetrol, Glaxal Base, FDS, Micatin, Gelusil, Barriere, and K-Lyte. The Company sells to retailers and consumers through a network of distribution partners and direct salespeople.
Since being acquired by Audax in 2017, WellSpring has undergone a period of transformation and growth, including expansion of the company’s product offerings in
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