Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 301

Posts Tagged ‘capital’

Aviation Capital Group Joins Tokyo Century

Posted by fidest press agency su giovedì, 12 settembre 2019

Aviation Capital Group LLC (ACG) announced today that its majority shareholder, Pacific Life Insurance Company, has entered into an agreement where Tokyo Century Corporation will acquire from Pacific Life all of its outstanding interest in ACG. Tokyo Century initially acquired from Pacific Life a 20% interest in ACG in 2017 and has since contributed additional equity capital to ACG, increasing its ownership to 24.5%, to help accelerate its business expansion.
“Tokyo Century has been a valuable partner since 2017 and this acquisition of the remainder of ACG demonstrates a commitment to the growth and success of the ACG platform and the aircraft leasing industry,” said Khanh T. Tran, ACG’s president & CEO. “The ACG team is enthusiastic and looking forward to being part of the Tokyo Century family as we expand and continue to provide best-in-class global aircraft leasing, financing, and trading services.” The transaction is expected to close in the fourth quarter of 2019.Tokyo Century is publicly-held and listed on the Tokyo Stock Exchange. Its core lines of business include Equipment Leasing, Mobility & Fleet Management, Specialty Financing, and International Business with a global network in 37 countries and regions. More information can be found at:

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Alternative Behavior Strategies Receives Funding from Morgan Stanley Expansion Capital

Posted by fidest press agency su giovedì, 22 agosto 2019

Alternative Behavior Strategies (ABS), a leading provider of services to children with autism spectrum disorders, announced today it has received funding from private equity platform Morgan Stanley Expansion Capital along with Petra Capital Partners, investing in the next stage of ABS’ growth. The funding amount was not disclosed. Autism is one of the fastest growing developmental disorders. One in 40 children in the U.S. has been identified with autism spectrum disorder (ASD), according to the December 2018 issue of Pediatrics.i This is an increase from a study conducted in 2014 by the Centers for Disease Control and Prevention (CDC) that estimated about 1 in 59 children in the U.S. were identified with ASD.ii
ABS provides therapy which is based on Applied Behavior Analysis (ABA), a successful evidence-based treatment for children with autism. Earlier this year, ABS rolled out its ABS Virtual Office, the first smart phone-based platform to connect autism behavioral therapists to the information and knowledge they need—wherever they are—to enhance services and promote clinical excellence and advancement. Because ABS therapists spend as much as 80 percent of their time in the field providing therapy, the platform gives them real-time access to electronic clinical records, as well as to the collective wisdom of the company while treating a child, when this information is most vital.This fall, ABS will open its first comprehensive community-based center to provide adapted playgrounds and intensive therapy in all day sessions, so that working parents can bring their children for the day. This center is based in the Salt Lake City, Utah, area, with additional centers planned for other regions.

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Purdue University Global Hosts Commencement in Nation’s Capital

Posted by fidest press agency su martedì, 13 agosto 2019

Purdue University Global, a public nonprofit online institution of higher education, conferred degrees to nearly 700 graduates during an August 10 ceremony at DAR Constitution Hall in Washington, D.C., recognizing them for their academic achievements and celebrating their success. Based in Indianapolis, Purdue University Global expands Purdue University’s land-grant mission by providing access to higher education for millions of working adults, highly personalized to their needs and flexibly scheduled to fit their lives via online courses. Nearly 9,000 Purdue University Global students will earn degrees this year.During the ceremony, Dr. Vandenbosch conferred degrees to graduates who traveled to attend from 46 states, as well as several foreign countries, including Bermuda, Bahamas, Haiti, United Kingdom and Qatar. The ceremony was broadcast on Facebook Live for graduates and family members unable to be there in person.In her remarks, Dr. Vandenbosch said, “Graduates, your accomplishments are commendable and I have only one piece of advice for you: BE KIND. Be kind to yourself, to your friends and family, and to everyone else you encounter.” Dr. Vandenbosch noted that Purdue Global students are primarily adult learners and pointed to some of the ways that makes them distinctive. More than 28 percent of the student body is affiliated with the military, including active duty, veterans and their family members. She also said that 52 percent of Purdue Global students are the first in their family to pursue a higher education degree, and that 63 percent have a child or other dependent. Graduate and undergraduate degrees were awarded from the schools of Business and Information Technology, Education, Health Sciences, Nursing, and the College of Social and Behavioral Sciences. Additionally, degrees were conferred to graduates of Concord Law School at Purdue University Global, the nation’s first fully online law school.

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Two Six Capital Advises Baring Private Equity Asia on Acquisition of Acuon Capital

Posted by fidest press agency su mercoledì, 7 agosto 2019

Two Six Capital, a technology-enabled firm that has pioneered data science for private equity, today announced that it advised Baring Private Equity Asia (“BPEA”), one of the largest and most established private alternative investment firms in Asia, on the acquisition of Acuon Capital, a South Korea-based consumer finance and leasing company.
To harness the power of data science, Two Six Capital combines large scale engineering, statistics and machine learning to analyze revenue data and customer patterns. The firm’s goal is to help private equity investors unmask the intrinsic value of their prospective and current portfolio companies.“As is the case with each of our investments in the increasingly competitive Asian market, it is critical to conduct a thorough and in-depth due diligence process in advance of executing an investment,” said Han Chul Kim, a Managing Director at BPEA. “In seeking to ensure we were investing in a quality company with strong growth potential, Two Six helped us discover several areas within Acuon’s business model that we believe will provide value-creation opportunities. Two Six leveraged their technology to generate valuable insights from Acuon Capital’s loan tapes in a compressed timeframe, undertaking due diligence in regard to credit quality and potential impact of economic cycles.” “There has been limited technology innovation in the private equity industry since the advent of the Microsoft Excel spreadsheet,” said Sajjad Jaffer, Co-founder and Managing Partner at Two Six Capital. “Built on decades of research from Wharton, our large data technology platform has ushered in a new wave of innovation. With over 50% of Two Six Capital’s deal flow sourced outside the United States, Asia has emerged as the fastest growing market for our firm. BPEA has shown that it is at the forefront of embracing data analytics in its investment process, and we were honored to embed our data science and engineering capabilities within BPEA’s impressive private equity team.”

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Amulet Capital Forms US Digestive Health

Posted by fidest press agency su sabato, 8 giugno 2019

Amulet Capital Partners, LP (“Amulet”), a healthcare private equity investment firm based in Greenwich, Connecticut, today announced the formation of US Digestive Health (“US Digestive Health”), a practice management services organization established to support the expansion of leading gastroenterology care across the U.S. As part of the formation, US Digestive Health will provide the three largest GI practices in Pennsylvania, including Regional GI (“RGI”), Digestive Disease Associates (“DDA”), and Main Line Gastroenterology Associates (“MLGA”), with business management and administrative resources, health system contacts and enhanced technology solutions.Terms of the transaction were not disclosed.
Based in Exton, PA, the combined platform of the three practices will have 15 office locations, 7 Ambulatory Services Centers (ASCs) and 88 providers. Jerry Tillinger, an industry executive with 25 years of physician group management experience and CEO of a 300+ provider physician group, will serve as CEO of US Digestive Health. Dr. Scott Hayworth, CEO of Caremount Medical, a 600+ provider multi-specialty physician group based in NY, will serve as US Digestive Health’s non-executive Board Chairman.
Gastroenterology is the 2nd largest internal medicine sub-specialty and covers a wide away of highly prevalent disorders and diseases focused on the digestive system including the esophagus, stomach, small intestine, large intestine and rectum. Hepatology, a sub-sector of gastroenterology, focuses on diseases and disorders of the liver, gallbladder, biliary tree, and pancreas. Colorectal Cancer (CRC) is currently the fourth most common cancer and the second leading cause of cancer deaths. However, advances in colonoscopy-based CRC screening have been very effective in detecting this cancer early, leading to declines in incidence and mortality. The American Cancer Society recently lowered the recommended CRC screening age to 45 from 50, greatly expanding the addressable market for CRC Screening and Prevention services. In addition, growth in several common chronic GI disorders is expected to continue across all age groups, resulting in an increased need for GI disease management.Amulet Capital Partners was advised by Skadden, Arps, Slate, Meagher & Flom and Sheppard, Mullin, Richter & Hampton in the transaction.
Amulet Capital Partners, LP is a healthcare private equity investment firm based in Greenwich, CT. Amulet seeks to achieve long-term capital appreciation through privately negotiated investments in companies. Amulet Capital Partners focuses on those segments it believes have the most attractive long-term fundamentals with a target investment size generally between $25 million to $150 million. Amulet Capital Partners’ investment team has approximately 50 years of private equity experience. For additional information, please visit

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Aimmune to Present at RBC Capital Markets Global Healthcare Conference

Posted by fidest press agency su sabato, 18 Mag 2019

Aimmune Therapeutics, Inc. (Nasdaq: AIMT), a biopharmaceutical company developing treatments for life-threatening food allergies, today announced that its Chief Financial Officer, Eric Bjerkholt, will present at the RBC Capital Markets Global Healthcare Conference on Tuesday, May 21, 2019, at 2:35 p.m. E.T. in New York City.
A live webcast of the presentation will be accessible on the Events page under the Investor Relations section of the Aimmune website at A replay will also be available following the webcast.Aimmune Therapeutics, Inc., is a biopharmaceutical company developing oral treatments for life-threatening food allergies. The company’s Characterized Oral Desensitization ImmunoTherapy (CODIT™) approach is intended to provide meaningful levels of protection against allergic reactions resulting from exposure to food allergens by desensitizing patients with defined, precise amounts of key allergens. Aimmune’s first investigational biologic product, AR101, is being developed as a treatment to reduce the frequency and severity and adverse events, including anaphylaxis, following exposure to peanut. The BLA for AR101 is under review by the FDA, which in 2015 granted AR101 Breakthrough Therapy Designation for the desensitization of peanut-allergic patients 4 to 17 years of age. Aimmune expects to file for marketing approval of AR101 in Europe in mid-2019. Aimmune has filed an IND application for its second product, AR201 for the treatment of egg allergy, and intends to start a randomized phase 2 clinical trial in mid-2019. For more information, please see

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8S Capital Holdings Announces Voluntary Conditional Cash Offer for 800 Super Holdings

Posted by fidest press agency su martedì, 7 Mag 2019

8S Capital Holdings Pte. Ltd. (the “Offeror”) today announced its intention to make a voluntary conditional cash offer (the “Offer”) for all the issued and paid-up ordinary shares (the “Shares”) of 800 Super Holdings Limited (SGX: 5TG) (“800 Super” or the “Company”) other than those Shares held by the Offeror as at the date of the Offer (the “Offer Shares”).
Lee Koh Yong, a Director of the Offeror, commented, “The Offer represents an opportunity for shareholders to realise their entire investment in the Shares at a premium to historical trading prices. It also provides shareholders with a means for a clean cash exit that would otherwise not be available given the low trading liquidity of the Shares. At the same time, privatising will enable 800 Super to save on expenses relating to the maintenance of a listed status and allow the Company to focus its resources on operational matters amidst the competitive business landscape.” Lee Koh Yong is also the Executive Chairman of 800 Super.The Offer will be conditional upon the Offeror having received not less than 90% of the total number of issued Shares as at the close of the Offer3. As at the date of this announcement, Lee Koh Yong and five of his siblings (collectively, the “Lee Family Members”), as well as a vehicle wholly-owned by the Lee Family Members (“YSI”), who together hold approximately 77.6% of the Shares, have provided irrevocable undertakings to accept the Offer and roll all of their Shares into the Offeror by subscribing for ordinary shares in the Offeror4 (the “Subscription”). Following the Subscription, the Lee Family Members and YSI will own all of the ordinary shares of the Offeror5.If the Offeror succeeds in garnering acceptances exceeding 90% of the total number of issued Shares, it intends to delist the Company.Leading global investment firm KKR intends to fund the Offer by providing a hybrid combination of debt and structured equity financing to the Offeror, primarily from pools of capital including KKR’s Private Credit Opportunities II fund and proprietary investment vehicles.Lee Cheng Chye, a Director of the Offeror, said, “Our family welcomes the financing solution provided by KKR. The innovative structure of the deal enables us to continue owning the Company and we look forward to go on working with the Company’s existing management team and employees in partnership with KKR.” Lee Cheng Chye is also an Executive Director and the Chief Executive Officer of 800 Super.
Ashish Shastry, Member & CEO of KKR Southeast Asia, said, “KKR’s primary goal in this region is to work with great entrepreneurs and the founding families of homegrown businesses. We are very flexible on the type of support we provide — in this case, the Lee family required a credit-oriented solution, but we are also working with family groups by making majority or minority equity investments. We are looking forward to doing more with the Lee family and other great entrepreneurial families in Singapore and across Southeast Asia.”An offer document setting out the terms and conditions of the Offer and enclosing the relevant form(s) of acceptance will be despatched to shareholders not earlier than 14 days and not later than 21 days from today.RHB Securities Singapore Pte. Ltd. (“RHBSEC”) is the financial adviser to the Offeror in connection with the Offer, while WongPartnership LLP is the legal adviser to the Offeror in connection with the Offer.

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Clubspeed Acquired by Nadavon Capital Partners

Posted by fidest press agency su mercoledì, 17 aprile 2019

Nadavon Capital Partners has increased its investment in Clubspeed, the leading global software solution for go karting tracks, race tracks, trampoline parks, and family entertainment centers, where it will acquire a majority stake. Nadavon’s Chief Executive Officer Romir Bosu will serve as Clubspeed’s CEO.Clubspeed was the first to develop software serving a variety of family entertainment centers, offering an innovative gamification and automated marketing solution that drives increased sales with their customers. It has since expanded to serve adjacent businesses within the industry, helping business owners manage their operations more efficiently. Clubspeed’s online booking engine, secure payments, mobile app, jump tracker and customer management tools are examples of why it’s the leader in the industry.Nadavon Capital Partners originally invested in Clubspeed in April 2017, and an opportunity recently arose to increase that investment. “Clubspeed is a thriving business with a solid foundation, and a great company with global reach,” says Bosu. “It made sense to invest more now, as we continue to add new customers and expand in the family entertainment industry.” “I’ve spent 14 years building this company one customer at a time,” says Eric Novakovich, founder of Clubspeed, who will be taking over the role of Chief Strategy Officer. “Romir has a successful track record of growing and scaling software companies, most recently with Compushare and Paylease, and he provides expertise that will launch the next chapter of our growth plan.” Bringing in his competence to take the lead of Clubspeed’s business strategy, Bosu’s focus will be to continue developing the company’s venue management products to deliver value to customers, with a clear vision to scale and expand in existing and new markets around the world.He continues, “Clubspeed’s mission has always been to deliver innovation to customers to help grow their businesses, and I am excited for the opportunity to play a larger role in that innovation.”

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Platinum Equity to Acquire Spanish Seafood Provider Iberconsa From Portobello Capital

Posted by fidest press agency su domenica, 10 marzo 2019

LOS ANGELES, (GLOBE NEWSWIRE) Platinum Equity today announced the signing of a definitive agreement to acquire a majority stake in Grupo Ibérica de Congelados, S.A. (“Iberconsa”) from Portobello Capital and affiliates of the company’s founding families. The sellers and members of the Iberconsa management team will be minority investors alongside Platinum Equity. Financial terms were not disclosed. The transaction is expected to close in Q2 2019.Headquartered in Vigo, Spain, Iberconsa is a global provider of frozen seafood products, including hake, Argentine red shrimp and squid. The company is vertically integrated across the full value chain, including wild catch, processing, commercialization and distribution.Iberconsa maintains an owned fleet of 45 vessels, five processing plants and four cold storage distribution facilities. Iberconsa’s fleet operates primarily in Argentina, Namibia and South Africa, and the company’s products are sold in more than 60 countries.Iberconsa CEO Alberto Freire will continue to lead the business following the transfer of ownership.Platinum Equity’s proposed acquisition of Iberconsa is the latest example of the firm’s increasing momentum in Europe. Last year Platinum Equity completed the $2.1 billion acquisition of Zug, Switzerland and Chesterbrook, PA-based blood glucose monitoring company LifeScan from Johnson & Johnson. The firm also acquired Wyndham’s European vacation rental business for $1.3 billion.Platinum Equity sold Exterion Media to British media and entertainment group Global in November 2018, and sold Paris-based Worldwide Flight Services to Cerberus Capital Management, L.P. in October 2018 in a transaction valued at approximately €1.2 billion.Lazard and Deloitte are serving as financial advisors to Platinum Equity on the acquisition of Iberconsa. Latham & Watkins is serving as Platinum Equity’s legal advisor on the transaction.Nomura and Ernst & Young (“E&Y”) are serving as financial advisors to the sellers. E&Y is also serving as the sellers’ legal advisor on the transaction.

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H.I.G. Capital Announces the Sale of ACG Materials

Posted by fidest press agency su lunedì, 10 dicembre 2018

H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with $30 billion of equity capital under management, is pleased to announce the sale of its portfolio company, ACG Materials (“ACG” or the “Company”) for approximately $315 million, to Arcosa, Inc. (NYSE: ACA) (“Arcosa”), a manufacturer of infrastructure-related products and services.
ACG Materials, based in Norman, Oklahoma, mines, processes, and distributes industrial minerals and aggregates including gypsum, anhydrite, limestone, sand, gravel, basalt and downstream food, pharmaceutical, prill and plaster products across a diverse set of end markets including building products, energy, infrastructure, and agriculture.H.I.G. recapitalized the Company in December 2012, and through the completion of nine acquisitions and the development of six greenfield mines, subsequently grew ACG from five mines and two production facilities in Oklahoma into a highly diversified operator of 24 mines and 5 production facilities across 9 states and provinces. During H.I.G.’s ownership, the Company also made significant investments in management, IT infrastructure, sales & marketing, manufacturing capabilities, and capacity.Paul Harrington, ACG’s CEO, said, “H.I.G. has been a great partner, as they have been very supportive helping to transform ACG into a professionally managed, diversified, national platform with exciting growth potential. We are excited to continue this next chapter with Arcosa, whose platform and resources will help us realize the considerable opportunities ahead.”Keval Patel, Managing Director at H.I.G. Capital, commented, “It has been a pleasure working with Paul and the ACG management team. Their strategic vision and consistent execution has resulted in an outstanding investment outcome for management and shareholders, including the Company’s founder Russ Harrison. We are confident that ACG will continue to build on its record of success and impressive growth under the Arcosa umbrella.”

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Mobius Capital Partners Appoints Northern Trust to Support UK Investment Trust and Luxembourg SICAV

Posted by fidest press agency su domenica, 9 dicembre 2018

Northern Trust (Nasdaq: NTRS) today announced that it has been selected by Mobius Capital Partners, the emerging and frontier markets investment manager, to provide a range of asset servicing and Integrated Trading Solutions to support the firm’s London-listed Mobius Investment Trust (MMIT.L) and Luxembourg Société d’Investissement à Capital Variable (SICAV), the Mobius Emerging Markets Fund. Dr. Mark Mobius, founder partner of Mobius Capital Partners said, “Northern Trust has worked closely with us for a number of months as we launched two separate vehicles accessing our single governance orientated strategy. Together, we have built a collaborative relationship, leveraging their innovative consultative solutions. Northern Trust’s Integrated Trading Solutions delivers an immediate capability to address some of the significant challenges that MiFID II is posing to asset managers.” Northern Trust will provide depositary, custody, fund accounting and foreign exchange (FX) services to the investment trust, and fund administration to the SICAV. Investors in both vehicles will benefit from Northern Trust’s recently launched Integrated Trading Solutions, an advanced front-to-back office outsourced trading service. “Mobius Capital Partners has successfully launched both a closed and open-ended fund this year and we’re thrilled to be working with an asset manager that has such a strong commitment to improving Environmental Social Governance standards in emerging and frontier markets,” said Clive Bellows, head of Global Fund Services for Europe, Middle East and Africa (EMEA) at Northern Trust. “We work with and support our clients with a range of solutions to suit their individual needs and requirements. Mobius Capital Partners will benefit from Northern Trust’s wealth of experience, leading technology applications, regulatory, compliance and middle office support.” “To remain competitive in today’s increasingly regulated environment, asset managers need to drive efficiency at all points within the trade lifecycle,” said Guy Gibson, head of Institutional Brokerage for EMEA & Asia-Pacific at Northern Trust. “By outsourcing their end-to-end trading needs to Northern Trust, Mobius Capital Partners will reduce the cost of execution, reduce risk and improve regulatory compliance.” Institutional Brokerage is part of Northern Trust Capital Markets which provides foreign exchange, securities lending and transition management services. It forms part of Northern Trust’s Corporate & Institutional Services business – a leading provider of asset servicing, fund administration and middle office solutions to institutional asset managers and asset owners around the globe.

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Kerala Floods Likely to Have Limited Impact on Rated Insurers’ Capital, But May Add to Performance Issues

Posted by fidest press agency su martedì, 18 settembre 2018

A.M. Best does not expect flooding in the Indian state of Kerala to have a significant impact on the balance sheet strength of rated Indian non-life insurers; however, the losses may add to the unfavorable underwriting performance that A.M. Best has flagged as a negative rating factor for some of these insurers.In a new Best’s Briefing, titled, “Kerala Floods: Limited Impact on Rated Insurers’ Capital, May Add to Performance Issues,” A.M. Best notes that Kerala represents a significantly smaller portion of the Indian non-life market and A.M. Best rated insurers’ overall gross premiums. Additionally, insurance penetration in India is low and insurance penetration in Kerala is estimated to be below the national average.The cumulative rainfall this year during the 2018 summer monsoon period in Kerala was significantly higher than normal, and together with the release of waters from dams, created severe flooding in the region. A.M. Best expects fire and motor to be the most impacted lines of business. Motor own damage is one of the leading sources of business, accounting for 30% of gross premiums in the state. Four large insurers, which wrote an estimated 70% of Kerala’s gross non-life premiums in 2017, are likely to absorb the majority of claims. The affected insurers rated by A.M. Best are expected to have adequate reinsurance protection, with deductibles that are small percentages of their premium base and capital sizes. A.M. Best will continue to closely monitor developments at its rated insurers as more information becomes available on the ultimate gross and net impact of the floods on their profitability.

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H.I.G. Capital Announces the Sale of KidsFoundation

Posted by fidest press agency su domenica, 22 luglio 2018

H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with more than €21 billion of equity capital under management, announced today that one of its affiliates has entered a definitive agreement to sell the KidsFoundation Group (“KidsFoundation”), the Dutch market leader in childcare services, to Onex Corporation (“Onex”)(TSX:ONEX). Terms were not disclosed.Headquartered in Almere, the Netherlands, KidsFoundation provides high-quality childcare to nearly 30,000 children between the ages of six weeks and 12 years. H.I.G. created KidsFoundation in 2014 through the acquisition of assets from the estate of Estro Group. During H.I.G.’s ownership, the company has developed strongly with significant capital invested by H.I.G. to create a high-quality childcare offering. H.I.G. worked with KidsFoundation management to optimise the footprint of the company by exiting loss-making locations, introduce new IT systems to drive operational improvement and develop an internal M&A capability. H.I.G. supported the company with capital to undertake a number of bolt-on acquisitions in the past year and to pursue a wider pipeline of inorganic growth opportunities. The business is now the largest provider of childcare in the Netherlands receiving strong advocacy ratings from staff and parents.

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Brevet Capital Management Appoints Vikram Sodhi as Chief Financial Officer

Posted by fidest press agency su giovedì, 12 luglio 2018

Brevet Capital Management, LLC (together with its related parties, “Brevet”), an investment management firm focused on creating customized, value-adding financing solutions, today announced the appointment of Vikram Sodhi as Chief Financial Officer.Mr. Sodhi joins Brevet from PricewaterhouseCoopers LLP (“PwC”) where he was a Partner in the Banking and Capital Markets Assurance practice providing assurance and advisory services. In his 24 years at PwC, he served financial institutions across banking, capital markets, and alternative asset management. Mr. Sodhi received a Master of Business Administration from Columbia Business School and a Master of Arts in Mathematics of Finance from Columbia University Graduate School of Arts and Sciences and is a NYS licensed CPA.Douglas Monticciolo, Chief Executive Officer, Chief Investment Officer, and Founder of Brevet commented, “We are excited to have an executive of Vik’s caliber and experience join Brevet. We are confident that he will be a strong addition to our leadership team and drive the continued institutionalization of Brevet for the benefit of our investors.”“I am thrilled to join the Brevet team at this exciting time,” commented Mr. Sodhi. “Brevet has demonstrated an unwavering commitment to providing a unique value proposition for its borrowers and investors, and I look forward to furthering the firm’s growth and evolution.”

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H.I.G. Capital Invests in Logistics Assets in Denmark

Posted by fidest press agency su sabato, 7 aprile 2018

H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with over €20 billion of equity capital under management, announced today that one of its affiliates has recently completed the acquisition of a 48,000sqm logistics portfolio in Denmark. Terms were not disclosed.H.I.G. continues to add to its sizeable holdings of real estate assets across Europe, consisting of both equity as well as debt investments, with a particular focus on its target market of value-added small/midcap opportunities.Riccardo Dallolio, Managing Director and Head of H.I.G. Europe Realty Partners in London, commented: “The Nordic real estate markets represent a key part of our European value-add strategy and we continue to actively look at opportunities in the small/midcap sector in these countries across the capital structure.” Fredrik Steinum, Director at H.I.G. Europe Realty Partners in London, added: “The transaction demonstrates our ability to leverage our strong network and track record in the Nordic markets to acquire high quality assets with significant value-add potential.”

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Exactech Shareholders Approve Merger Agreement with TPG Capital

Posted by fidest press agency su mercoledì, 14 febbraio 2018

Exactech (Nasdaq: EXAC), a leading developer and producer of orthopaedic implant devices and surgical instrumentation for extremities and large joints, today announced that at a Special Meeting of Shareholders held earlier today, Exactech’s shareholders approved the previously announced merger agreement with TPG Capital and certain of its affiliates, and approved the other two proposals described in Exactech’s proxy statement relating to today’s meeting.Approximately 94.5% of voting Exactech shareholders cast their votes in favor of the merger, representing approximately 73.7% of Exactech’s outstanding common stock as of the record date for the special shareholder meeting. The final results will be available on a Current Report on Form 8-K, to be filed later this week by the company.Upon completion of the transaction, Exactech shareholders will receive an amount in cash equal to $49.25 per share of Exactech common stock. The transaction remains subject to customary closing conditions and is expected to close on or around February 14, 2018, at which time Exactech will become a private company and its common stock will no longer trade on the NASDAQ. In addition, the company’s common stock will cease to be registered under Section 12 of the Securities Exchange Act of 1934, as amended.

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Enfoca Completes General Partner-Led Secondary Transaction and Raises New Capital

Posted by fidest press agency su sabato, 13 gennaio 2018

Lima_Peru_01Lima. Enfoca, a leading private equity fund manager based in Lima, Peru, today announced the completion of a General Partner-led secondary transaction in which a new investment fund managed by Enfoca purchased exposure to the portfolio companies of three Enfoca-managed funds by providing a liquidity option to the existing Limited Partners (LPs). The new fund also obtained commitments for new capital to develop the portfolio.Canada Pension Plan Investment Board (CPPIB), which made a capital commitment of US$380 million, and Goldman Sachs Asset Management LP’s Vintage Funds (GSAM) led the transaction. The three largest Peruvian pension funds, Integra, Prima and Profuturo, which have invested with Enfoca since 2007, are also committing new capital to the fund after taking advantage of this opportunity to obtain partial liquidity for their existing investments with Enfoca. In aggregate, the transaction represents a total capital commitment of over US$950 million and sets a new benchmark for General Partner-led liquidity alternatives in the LatAm private equity market.
Through a competitive bidding process, the transaction provided Enfoca’s existing LPs with a liquidity option with attractive returns on their original investments. The transaction gives the new LPs the opportunity to invest in a unique high-growth portfolio of Peruvian mid-market companies and also provides Enfoca with access to capital for new investments and continued growth of the portfolio, as well as an extended duration to realize the portfolio’s potential. Enfoca will serve as the General Partner of the new fund and will manage the portfolio post-closing.“We are pleased to deliver liquidity for our existing LPs with attractive returns in a landmark transaction for the LatAm private equity market, while introducing CPPIB, a sophisticated global institutional investor, and GSAM, a successful global private equity investor, to our fund. The significant unrealized value in the portfolio provides our new investors with unique access to sectors in the Peruvian market and the Andean region that have experienced rapid growth,” said Jesús Zamora, Co-Founder and Chief Executive Officer of Enfoca. “This sizable transaction supported by our new investors represents an important milestone for Enfoca and provides our portfolio with greater flexibility and access to capital,” said Jorge Basadre, Co-Founder of Enfoca. “We thank those LPs who are exiting our fund for their support over the years and look forward to working closely with our new and continuing investors as we grow our businesses in the future.” “CPPIB is delighted to partner with Enfoca and GSAM in this direct secondary transaction, which allows us to benefit from their deep market expertise and track record in Peru,” said Michael Woolhouse, Managing Director, Head of Secondaries & Co-Investments, CPPIB. “Through this transaction, CPPIB will gain further access to this growing market and increase its overall investment in Latin America, one of our strategic focus regions.”Steve Lessar, co-head of Goldman Sachs Asset Management’s Vintage Funds, said, “We are pleased to be partnering with Enfoca and CPPIB to invest in a portfolio of market-leading, consumer-oriented companies with meaningful growth prospects driven by a strong Peruvian economy. We have been impressed with Enfoca’s investment strategy and look forward to investing additional capital to support the growth of these portfolio companies.”Park Hill Group LLC served as financial advisor and Davis Polk & Wardwell LLP and Payet, Rey, Cauvi, Pérez Abogados served as legal advisors to Enfoca.

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LightBay Capital Raises $615 Million for Debut Private Equity Fund

Posted by fidest press agency su venerdì, 5 gennaio 2018

Natali a New York (2)New York. LightBay Capital (“LightBay”), a Los Angeles-based private equity firm focused on middle-market opportunities, today announced that it has successfully completed fundraising for its inaugural institutional fund, LightBay Investment Partners LP (the “Fund”), with total committed capital of $615 million. The oversubscribed Fund, which LightBay officially began marketing in April 2017, exceeded its target of $450 million with commitments from a diverse investor group, which includes leading family offices, foundations, fund of funds, insurers, pension plans, and LightBay professionals.
LightBay is led by cofounders Nav Rahemtulla and Adam Stein, who were original members of Ares Management’s private equity group (“Ares”) where they invested together for over 15 years. Prior to forming LightBay, Messrs. Rahemtulla and Stein led Ares’ Healthcare and Consumer & Retail industry groups, respectively. LightBay invests in growing businesses primarily in the consumer, healthcare, and business services sectors. The Fund’s flexible investment strategy incorporates leveraged buy-outs, shared-control opportunities, and special situations, targeting investments between $25 million and $150 million.
“We could not be more pleased with the composition of our investor base and are grateful for their strong level of support and confidence in LightBay,” said Mr. Rahemtulla. “Adam and I are thrilled to continue our partnership with so many institutions who have been with us our entire careers. Together with our new limited partners, we look forward to enjoying continued success.”Mr. Stein added, “The flexibility of our capital base enables us to invest in high-quality companies in all market environments, and our strategy is well suited to take advantage of the disruption occurring across the consumer, healthcare, and business services sectors. We have built a terrific team with experience in business development, investing, and driving operational excellence, and are eager to partner with talented management teams and create meaningful value for our investors.” UBS Private Funds Group acted as advisor and exclusive placement agent for LightBay. Kirkland & Ellis LLP served as legal counsel to LightBay.

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Affiliate of Sun Capital Partners to Sell Aclara

Posted by fidest press agency su mercoledì, 27 dicembre 2017

Sun Capital Partners, Inc. (“Sun Capital”), a leading private investment firm specializing in leveraged buyouts and investments in market-leading companies, today announced that an affiliate has signed a definitive agreement to sell Aclara Technologies LLC (“Aclara” or “the Company”), a leading global provider of smart infrastructure solutions for utilities, to Hubbell Power Systems, Inc., a wholly-owned subsidiary of Hubbell Incorporated (NYSE: HUBB). The agreement establishes a purchase price of $1.1 billion for the Company. Headquartered in St. Louis, Aclara is a worldwide supplier of smart meters and other field devices, advanced metering infrastructure and software and services to more than 800 water, gas, and electric utilities. Aclara enables utilities to predict and respond to conditions, leverage their distribution networks effectively, and engage with their customers.“We’re extremely proud that we were able to grow and transform Aclara by applying our deep experience in building market-leading businesses from corporate carve-outs,” said Marc Leder, Co-CEO at Sun Capital. “During our investment period, we were able to invest in and improve the business while also quadrupling EBITDA. We are confident Aclara is poised for continuing success under its new owner.”
Sun Capital launched Aclara as an independent business when its affiliate acquired the Company from a corporate parent in 2014. Since then, Aclara has grown and improved its market position through a series of operational enhancements, as well as four add-on acquisitions of complementary businesses that were also carve-outs from corporate parents.“Aclara is a great example of how we apply the Sun Transformation System to build companies and create value,” said Daniel Florian, Managing Director at Sun Capital. “At Aclara, we were able to build a world-class management team led by Allan Connolly, improve procurement, and, most importantly, make significant investments in R&D. Development of new products and capabilities increased Aclara’s addressable market five-fold, and resulted in a robust backlog of contracted sales of approximately $1 billion.”Sun Capital has strong experience in industrial businesses through current and recent affiliated portfolio companies including Robertshaw, a leading design, engineering and manufacturing company that sells critical components and control systems used to regulate all major functions of white good appliances, and ThermaSys Corporation, a manufacturer and supplier of engineered copper, brass and aluminum heat exchanger components and assemblies.

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Zilliqa and FBG Capital Announce Strategic Partnership

Posted by fidest press agency su martedì, 14 novembre 2017

singapore-marinaSingapore. Zilliqa, a high-speed blockchain platform from researchers at the National University of Singapore, has today announced a strategic partnership with FBG Capital, one of the world’s leading digital asset management firms. The firm will be investing into the project and Zhuo Shuoji, founding partner of FBG and a veteran cryptocurrency trader, will be joining Zilliqa as an advisor to help guide commercial and financial industry adoption of the new blockchain platform.Zilliqa was created by researchers at the National University of Singapore to solve the issue of scalability of blockchains, one of the most pressing problems facing the technology today. The new platform they have developed is based upon the technology of sharding that was originally proposed by the research team in an academic paper in 2015.“Zilliqa is an example of pure innovation being applied towards providing a solution to critical business challenges,” said Zhuo Shuoji, Founding Partner of FBG Capital. “We are excited to work with their top-notch team and help them build the next generation of high-throughput blockchain applications.”“Having the expertise of Zhuo Shuoji and FBG Capital guiding us truly an honor,” said Xinshu Dong, CEO of Zilliqa. “We are confident that our technology combined with our amazing team and advisors will drive the adoption of our platform towards providing solutions to everyday business and consumer applications.”
Zilliqa has already built a working platform and has recently announced that their internal testnet has reached a peak throughput of 2,488 transactions per second (TX/s). For perspective, if Zilliqa were fully functional on the same number of computer nodes as Ethereum (~22,000) their transaction rate would be over 15,000 TX/s, nearly double the average of VISA, the largest electronic payment network in the world.
Zhuo Shuoji will be joining banking tech leaders Alexander Lipton and Stuart Prior as well as blockchain innovators Loi Luu and Aquinas Hobor as advisors on the project. The original scientific research for the project was done in the laboratory of Dr. Prateek Saxena, who is now Chief Scientific Officer with Zilliqa. Earlier projects and ventures that emerged from Dr. Saxena’s research group include KyberNetwork, TrueBit, SmartPool, and Anquan Capital.Zilliqa plans to release their source code and a public testnet in December 2017. The public release of their protocol will enable the public and developers to participate in testing its functionality, performance, and robustness, and to start designing the next generation of blockchain applications that can be developed on the platform.The company has stated that they will soon announce details of their public token generation event with their early contribution phase being currently underway.

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