Practice Fusion has closed a USD23 million Series B round of financing led by Founders Fund, with participation from Artis Capital Management and Glynn Capital Management, as well as returning investors Morgenthaler Ventures and Felicis Ventures. The round brings the company's total funding to USD30 million.
West End law firm Howard Kennedy has acted as legal adviser and sponsor in 62% of all Venture Capital Trusts (VCTs) launched in the VCT season 2010/11, reaffirming its position as a leading VCT legal adviser and sponsor.
Portfolio Advisors has announced the final closing of its global diversified private equity fund-of-funds, Portfolio Advisors Private Equity Fund VI (PAPEF VI), with total commitments of USD1.103 billion. Limited partners include private and public pension plans, university endowments, private foundations, insurance companies, family offices and high net worth individuals. More than 80% of the total limited partner commitments to the Fund came from investors who had previously invested in one or more PA-sponsored funds.
Carey Olsen has just completed the UK’s first ever listing of a closed-ended real estate mezzanine finance fund on the London Stock Exchange (LSE) in a GBP50 million deal.
SNR Denton advises Standard Chartered Private Equity in USD75m mezzanine investment in Hassan Mohammed Jawad & Sons BSC
SNR Denton advised Standard Chartered Private Equity Limited, the private equity arm of Standard Chartered Bank, in its closing of a USD75 million mezzanine investment in Hassan Mohammed Jawad & Sons BSC, a family-owned private company based in Bahrain.
Affine Systems has closed a USD5 million round of venture capital Series B financing led by Crosslink Capital, with continued support from existing investor Highland Capital Partners. Affine has received a total of USD8 million in funding since 2007.
Doughty Hanson portfolio company Norit has entered into a definitive agreement to sell its Clean Process Technologies (CPT) division to Pentair (NYSE: PNR) for EUR503 million.
Funds advised by Apax Partners (Apax) have entered into definitive agreements to acquire Epicor Software Corporation (NASDAQ: EPIC), a leading provider of enterprise business software solutions for the midmarket and divisions of Global 1000 companies, and Activant Solutions, Inc, a leading technology provider of business management software solutions for mid-market retail and wholesale distribution businesses. The combined transaction is valued at approximately USD2 billion.
Sovereign Capital, the UK private equity Buy & Build specialist, has acquired Careline Homecare Limited (Careline) – the market-leading domiciliary care provider in Newcastle – by portfolio company City & County Healthcare Group (“City & County”). This is City & County’s fifth bolt-on acquisition since Sovereign’s investment in 2009.
A new pan-Channel Island law firm, Collas Crill, opened its doors this week following the merger of Jersey firm Crill Canavan and Guernsey’s Collas Day.