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Star Mountain Capital has appointed Jack Le Roy, the former head of global software investor Thoma Bravo’s credit division, as a managing director.
Le Roy joined Thoma Bravo in 2017 to launch the credit business, having spent seven years at Summit Partners and the previous four at Guggenheim Partners.
Star Mountain currently manages more than $3 billion in assets, focused on the North American lower mid-market. Last August the company haled the final close of its latest SIBC fund targeting the US lower mid-market sector with more than $290 million in capital commitments.
The Virginia Retirement System (VRS) has made a total of $3.2 billion in new investment allocations across credit strategies, private equity and real assets between mid-April and mid-August, according to a report by AlternativesWatch.
Blue Ridge ESOP Associates (Blue Ridge), a portfolio company of Levine Leichtman Capital Partners (LLCP), has acquired substantially all of the tax benefits plan services (BPS) business of Crowe LLP.
The addition of the BPS business strengthens Blue Ridge’s position as an independent ESOP and 401(k) third party administration and recordkeeping firm.
The BPS business has built a track record of strong performance in employee stock ownership plan (ESOP) services and retirement plan services. Its nearly 30 employees currently serve over 400 clients and more than 500 plans that are expected to transition to Blue Ridge. The combination of the
Connection Capital, a specialist private client investment business, has hired Peter Knight as Head of its new co-investments team. Knight joins from Legal & General Capital where he worked as a Senior Investment Manager, covering private equity, private debt, housing and infrastructure transactions.
Prior to that he worked within the asset management division, managing strategic asset allocation and objective-driven funds for a range of client types before transitioning into the private assets division. He graduated from Durham University with a degree in Economics and is a CFA charterholder.
At Connection Capital, Knight will be responsible for leading and developing the
CIFC Asset Management (CIFC), an alternative credit specialist serving institutional investors globally with approximately $40 billion in assets under management, has strengthened its legal and compliance team with two senior appointments.
Asha Richards, who has served as CIFC’s deputy general counsel and in other legal related capacities since 2015, has been promoted to General Counsel, while Lily Wicker, former chief compliance officer and associate general counsel at Sound Point Capital Management, has joined CIFC as managing director, chief compliance officer and associate general counsel.
In connection with Wicker joining the firm, and as CIFC continues to expand its asset
Cherubic Ventures has held the final closing of its fifth fund at $110 million bringing the firm’s total committed capital under management to over $400 million, according to a report by Deal Street Asia.
Cherubic, a venture capital (VC) firm with operations in Silicon Valley and Greater China, will employ its existing investment approach for Fund V of looking to become the first investor to back up-and-coming US and Asian startups. Cherubic also actively sources deals from angel to pre-IPO funding stages with professionals stationed in San Francisco, Taipei, and Shanghai.
Over half of the new fund’s capital will be
Asia-Pacific asset owners increased their overall alternative asset allocation between October 2021 and March 2022 from 15.3% to 21.5%, according to a report by AsianInvestor, but private equity allocations fell over the same period.
Elaghmore, a UK-based private equity fund, has acquired one of Europe’s leading visual communication experts, Concept Group Limited (Concept), a provider distinctive sign and large format LED solutions using traditional, bespoke and digital signage.
Customers include some of the world’s largest Out of Home advertising companies, including Global Media Group, Open Media, and JCDecaux.
Birmingham-based Concept will become part of the Hexcite Group which Elaghmore created in 2019. The Hexcite Group provides specialist signage design, manufacturing, installation and vital aftercare services to leading retailers and brand owners The Hexcite Group includes Blaze Signs which has substantial signage manufacturing capability
LDC, a mid-market private equity firm, has made a significant minority investment in international warehouse safety, impact protection and storage equipment provider, IWS Group, to support a continued buy and build strategy.
IWS Group provides essential products and services to the global warehousing, logistics and material handling sectors. Through its growing family of companies, IWS Group provides its customers with a one-stop solution to make their sites safer, more efficient and environmentally sustainable.
The Group has a global customer base across multiple channels including operators, contractors, system integrators and resellers.
LDC is backing the existing management team, led
AVIA Capital has invested in Hadatap, Poalnd’s leading provider of radio frequency identification (RFID) technology, to fund research and development costs, increased production capacity and an expansion of sales in Poland and other European countries.
RFID uses readers to identify and track objects equipped with smart tags containing microchips. The technology allows companies such as wholesale and retail traders to streamline the process of monitoring inventories, improving efficiency and cutting costs. RFID is also used by public institutions such as courts and libraries.
Founded in 2006, Hadatap has implemented RFID solutions in more than 150 large and medium-sized companies and
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