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Elysian Capital has held a first close of its third fund, having raised 90 per cent of the fund’s target of GBP 300 million in three months, since officially launching the fund.
The final close is expected to be completed in the next couple of months from investors already well advanced in the process, according to the lower mid-market firm.
Elysian Capital’s third fund has received commitments from existing as well as new investors from Europe and the US. The Elysian team continues to invest in their own funds, having contributed GBP67 million across its three funds to date.
With
Middle market private equity firm Wynnchurch Capital has appointed Michael Salgat as a Managing Director focused on operations and portfolio management, and Jerry Gao as a Senior Associate.Prior to joining Wynnchurch, Salgat was an Operating Partner with New State Capital Partners focused on financial leadership at portfolio companies. Salgat began his career as an Investment Banker at Candlewood Partners and Donnelly Penman & Partners. He later served as Chief Financial Officer at Sipi Metals Corp and Vice President of Strategy and Finance at Tecumseh Products Company. Salgat earned his BS in Finance at John Carroll University. Gao recently completed his
Carey Olsen has promoted corporate lawyer David Taylor to the partnership, with effect from 1 July 2020.Taylor’s practice in the Jersey corporate group covers a broad area of Jersey corporate and finance law, with a particular focus on M&A and restructuring transactions in the private equity, corporate real estate and equity capital markets sectors.
Recent notable transactions that Taylor has worked on include advising on the sale of Lloyds Bank International’s Channel Islands wealth management and funds business; advising European private equity investor Bridgepoint on the complex cross-border sale of Estera; and acting for Stride Gaming plc in its
Cloud services technology firm Babble has acquired business telecoms provider Lake Technologies. The transaction, which was funded by mid-market private equity investor LDC, marks the fourth deal completed by the rapidly growing business, after it was backed by the private equity firm in 2017.Lake Technologies has provided business telephony and network services to its customers for over 26 years, who will now be able to take advantage of Babble’s ability to offer the most agile and efficient cloud-based solutions to organisations, allowing them to adapt to the changing world of work.
Babble has thrived since it was private equity
British Patient Capital, a subsidiary of the British Business Bank, has made a cornerstone commitment to Kennet’s fifth fund as it announces its EUR223 million (USD250 million) close.
Innovate Finance, the industry body representing the FinTech sector in the UK, has warned that the sector is facing a “significant” funding gap as a result of the Covid-19 crisis – with smaller companies coming under growing pressure.
Meyer Bergman, a private equity real estate investment manager, has acquired a majority interest in a large residential portfolio with assets in Frankfurt and Greater Frankfurt.The majority of the newly acquired portfolio, which consists of 800 residential and 125 commercial units spread over 60 properties, is concentrated in the centre of Frankfurt, where Meyer Bergman is looking to unlock the value of the portfolio through active asset management. This is part of the firm’s strategy of extracting and creating value in micro-markets by identifying cities, regions and sectors that have strong market fundamentals.
The transaction marks Meyer Bergman’s first
LP communication can never be underestimated but in light of the market impact caused by Covid-19, GPs can ill afford to risk any communication disconnect. With so much volatility, the way in which GPs are able to effectively report to investors, even if the news is not positive, can go a long way towards distinguishing between the good, the bad and the ugly. Thanks to technology, managers are finding it easier to share information safely and provide valuable insights into the performance of their PE portfolios – and in doing so, reinforce the GP/LP trust-based relationship.
In this webinar, produced in
INVL Baltic Sea Growth Fund, a private equity investment fund in the Baltic region, has completed the acquisition of a controlling stake (52.81 per cent) in Eco Baltia, an environmental management group for plastic recycling and waste collection in the Baltics. The deal sees the European Bank for Reconstruction and Development (EBRD) retain their 30.51 per cent stake in Eco Baltia and Maris Simanovičs, Chairman of the Management board of SIA Eco Baltia grupa, retain a 16.68 per cent stake (via Penvi Investment Ltd). Both parties have subsequently entered into a shareholders’ agreement with the Fund.
Vytautas Plunksnis, Partner at the
Funds advised by KLAR Partners (KLAR) have completed the acquisition of Empower Group’s subsidiary Empower IM Oy, which combines the Group’s software and BPO activities for smart grids, energy market services, smart energy metering and utilities (Energy Intelligence Division or EID). The completion of the transaction took place on 30 June 2020.
The Energy Intelligence business carried out by Empower IM Oy provides mission-critical software and BPO services for smart grids, energy market functions, smart energy metering and utilities. The company combines a fast-growing Customer Information System SaaS solution and other business applications, which are vital components of the smart meter-to-cash
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