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Elaia Partners, a Paris-based venture capital firm, has held the initial closing of its new venture capital fund, Elaia Delta Fund, at EUR115 million.
This new investment vehicle pursues the fundamental drivers of Elaia Partners’ historical strategy targeting European early-stage digital opportunities based on high disruption and on deep technology.
Elaia Partners will focus on B2B or B2B2C business models demonstrating global ambitions.
Thanks to its increased fund size and optimised portfolio management model, Elaia Partners will be able to drive further its investment strategy by supporting its best performing investments through their successive fundraisings.
Xavier Lazarus,
- 03/05/2017
Citizens Financial Group has acquired Western Reserve Partners, a Cleveland-based merger and acquisition advisory firm dedicated to delivering a full range of financial advisory services with a focus on middle market clients.
The transaction follows the 2016 launch of Citizens Capital Markets, which added broker-dealer capabilities to the bank’s capital markets platform.
The acquisition will further strengthen Citizens’ ability to serve commercial clients by accelerating the build out of its M&A and financial advisory capabilities. This key and growing client need was highlighted in the bank’s recently published sixth annual nationwide Middle Market M&A Outlook, in which 73 per
- 03/05/2017
Direct lender Beechbrook Capital, which backs small and medium-sized businesses in the UK with a turnover of between GBP10 million and GBP100 million and EBITDA of more than GBP1 million, has opened its first regional office in Manchester.
The office, in Hardman Square, Spinningfields, will support the UK SME Credit fund, which provides finance to UK SMEs.
The Manchester office will be run by investment director Matt Kenny, who joined Beechbrook at the beginning of April. His previous roles include three years as an investment director with LDC, originating and leading mid-market private equity investments, and more than six
- 03/05/2017
- 03/05/2017
Pan-European private equity firm Agilitas has appointed Debojit Mukherjee as chief operating officer (COO) with immediate effect.
Debojit joins Agilitas after seven years at Change Capital Partners, where he was chief financial officer and prior to that head of operations.
Earlier career positions have included director of operations and financial controller at Carbon Capital Markets and IBD analyst at Barclays Capital.
Debojit qualified as a Chartered Accountant with Bright Grahame Murray.
Martin Calderbank, managing partner at Agilitas, says: “We are very pleased to welcome Debojit to Agilitas. His operational and organisational skills will be an invaluable asset
- 03/05/2017
- 03/05/2017
Moderne Ventures, a Chicago-based venture capital firm focused on early stage investments in technology companies, has closed its early stage venture investment fund with USD33 million in total commitments.
Launched in 2015 by Constance Freedman, Moderne identifies and invests in cutting-edge technology companies who have a shared purpose of modernising highly-regulated, multi-trillion dollar industries.
These markets represent 20 per cent of the US Gross Domestic Product (GDP) and spend billions of dollars annually on marketing, technology and business services.
Moderne provides its early stage investments with proprietary access and exposure to the Moderne Network – more than 400
- 03/05/2017
GBfoods has partnered with Helios Investment Partners, an Africa-focused private investment firm, to create one of Africa’s largest fast moving consumer goods (FMCG) businesses.
GBfoods Africa Holdco, a joint venture owned by GBfoods and Helios, has acquired assets from different African companies including leading brands such as Jumbo (bouillon), Gino and Pomo (tomato paste), and Jago (milk powder and mayonnaise), as well as Bama (mayonnaise) distribution rights for Africa.
This will result in a pan-African culinary products company with presence in over 30 African countries.
GBfoods chief executive, Ignasi Ricou, says: “GBfoods has a long history operating in
- 03/05/2017
European private equity firm Doughty Hanson has rebranded as DH Private Equity Partners.
The rebranding reflects the firm’s new broader ownership structure and sole focus on private equity, while providing strong links to Doughty Hanson’s heritage.
Dick Hanson, senior partner of DH Private Equity Partners, says: “Since the beginning of 2015, we have returned nearly EUR2 billion to investors, focused the business purely on private equity and restructured the firm around an aligned team, led by myself. It makes sense therefore to rebrand the firm for the future in a way that reflects the changes but preserves the strong
- 02/05/2017
The Goldman Sachs Asset Management (GSAM) Petershill programme has made a minority equity investment in technology-focused private equity Accel-KKR.
The investment by the Petershill programme is a passive, non-voting stake in Accel-KKR that represents less than 10 per cent of the economic interests of the firm.
Tom Barnds and Rob Palumbo, managing directors of Accel-KKR, say: “This investment follows a 15-year relationship between Accel-KKR and Goldman Sachs Asset Management under which Goldman Sachs Asset Management funds have invested across all three of Accel-KKR’s strategies – buyouts, growth capital and credit.”
Proceeds from the Petershill investment will be primarily
- 02/05/2017
Neuberger Berman has appointed Jonathan Bailey as head of environmental, social and governance (ESG) investing.
Bailey is based in New York and reports to Joseph Amato, president, Neuberger Berman.
In this role, Bailey will work with the firm’s investment teams and research departments to further incorporate ESG principles into the equities, fixed income and alternatives platforms. He will help portfolio managers consider ESG as part of their analytical approach to evaluating companies and markets. He will also chair the firm’s ESG Investment Advisory Committee.
“As a firm, we have a deep history in ESG investing, going back to
- 02/05/2017
The total value of private equity business in the international finance centre of Guernsey has surpassed GBP100 billion for the first time.
Figures from the Guernsey Financial Services Commission show that the net asset value of private equity funds under management and administration in the island grew by GBP25 billion over the course of 2016 to stand at GBP110.3 billion at the end of December.
Substantial launches during the course of last year by big ticket private equity promoters including Permira, Apax Partners, Cinven, Macquarie, Partners Group and Inflexion all contributed to the record-breaking high.
Guernsey Finance chief
- 02/05/2017
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