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Rotunda Capital Partners (Rotunda) has closed Rotunda Capital Partners Fund III with $405 million in total capital commitments.
The Fund was oversubscribed above its initial target of $295 million.
Fund III received capital commitments from a diverse set of investors, including public pensions, corporate pensions, insurance companies, healthcare companies, multi-manager funds, consultants, and family offices. Rotunda is especially thankful for the continued support by way of fund commitments from several former Rotunda portfolio company executives and family-founders with whom we have partnered in the past.
Mill Point Capital, a private equity firm focused on control-oriented investments in the industrials, business services and IT services sectors, has sold KKSP Precision Machining LLC (KKSP), North American manufacturer of precision metal components, to Pine Grove Holdings (Pine Grove), an executive-led operations and investment firm focused on companies with high engineering content.
Mill Point will maintain a minority stake in the business going forward.
Since its 2017 acquisition by Mill Point Capital, KKSP has experienced tremendous success through the enhancement of technical capabilities, strategic M&A and rapid expansion into the Northeastern United States region and catalog components market.
Lindsay Goldberg, a family and founder-focused private equity firm, is to invest in MMS Holdings (MMS), a data-focused contract research organisation (CRO), alongside MMS Founder and CEO, Dr Uma Sharma, who will maintain a significant ownership interest.
Mid-market private equity firm LDC has made a significant minority investment in Cellhire, a global provider of mobile Voice and Data and Internet of Things (IoT) communications services.
Headquartered in York, Cellhire offers high-speed and secure ways for businesses and partners to stay connected worldwide. It has built key partnerships with UK mobile network operators (MNOs) Vodafone, O2 and EE through long established ISP agreements. Internationally it has developed partnerships with more than 40 MNOs and rolled out its first Full MVNO on the Orange network in France. Recently it has worked with China Unicom at the Beijing Winter Olympics
Foresight Group (Foresight), a sustainable infrastructure and private equity investment manager, has selected the Eden Project (Eden) as its new sustainability partner.
Eden will advise Foresight on enhancing biodiversity across its portfolio with an initial focus on its infrastructure and forestry assets.
The partnership will provide Foresight with a framework for implementing a nature recovery programme and will enable Foresight to further develop its nature recovery statement – anticipated to be released later this year. This will provide a blueprint for Foresight’s assets and will demonstrate how businesses can contribute to nature recovery efforts.
The UK is considered
Eurazeo is selling its remaining 51% stake in Trader Interactive, a platform of branded marketplaces in the United States providing digital marketing solutions and services across the commercial truck, recreational vehicle, power sports and equipment industries, to carsales, an Australia-based online automotive advertising platform with a growing presence in Latin America and Asia.
This transaction follows the acquisition by carsales in August 2021 of 49% of Trader Interactive.
carsales, which operates several marketplaces across both the automotive and specialty vehicle segments, brings to Trader its extensive knowledge in building and developing scaled online marketplaces.
Under this agreement, Trader
The economic slowdown should act as a warning sign for firms promoting private markets to their clients, with regulatory processes likely to be placed under greater scrutiny as investors explore divestment options, says fintech Delio.
The lower liquidity of private markets means it is much more difficult for investors to divest if they become unhappy with the investments they have made. This is more likely to happen if they find their income or assets squeezed in other areas, something that is already happening as other costs continue to rise and inflation hits levels not seen in 40 years.
The democratisation
Creator Ventures, a new venture capital firm focused on investing in early-stage consumer-internet companies advancing how people interact, has held the close of its first fund at $20 million.
The fund will invest in category-defining startups, often alongside celebrities and creators from music, sport, television, social, and more.
Creator Ventures was born from the Creative Investment Club, a syndicate fund established in 2019 to invest in startups across consumer-social, consumer-technology and the creator economy. The syndicate enabled celebrities and creators to back startups from Pre-Seed to Series A. This syndicate fund shared deals exclusively with large-scale content creators, athletes, actors
Conversion Capital, an early-stage venture firm, has closed its oversubscribed and largest fund to date – the $122 million Fund III backed by institutions, family offices, and over a dozen founders.
The new capital will fuel Conversion Capital’s investment into 25-30 pre-seed to Series A fintech companies building software, cloud infrastructure, and data technologies. Since 2015, Conversion Capital has funded more than 60 startups, leveraging deep domain expertise and a global network of early adopters to help unlock early growth and go-to-market channels for founders. The firm has begun deploying capital from the new fund across the fintech landscape and
Clearlake Capital Group (Clearlake) has completed its acquisition of Intertape Polymer Group, a global provider of protective packaging solutions.
The acquisition was previously announced on 8 March, 2022, and approved by IPG shareholders on 11 May, 2022. Under the terms of the agreement, Clearlake has acquired the outstanding shares of IPG common stock for CAD40.50 per share in cash. As a result of the transaction, IPG is now a privately held company, and shares of IPG common stock are no longer listed on the public market.
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