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searched for: investingUS bank BBH reels in former IBM CFO as senior adviser for PE investments
Category: United States | Publishing date: 03 Dec 2009Banking firm Brown Brothers Harriman & Co has brought in Douglas Maine, the former CFO of the global computer, technology and IT consulting giant IBM, as a senior adviser to the firm. Maine will work with the investment management division, focusing on private equity investing as well as helping with BBH’s M&A advisory business.
European VC firm Creandum promotes Cassel to general partner
Category: Sweden | Publishing date: 02 Dec 2009Creandum, a venture capital firm investing in the Nordic region, has promoted Fredrik Cassel to general partner.
Accounting diligence pays off when investing in PIPEs
Category: Leading Edge | Publishing date: 02 Dec 2009Sales of PIPEs (private investments in public entities) have gained momentum in the last two years as corporations seek capital without adding leverage. While some PIPEs involve the private sale of new or existing common shares, private equity firms and other investors often prefer investments that can offer upside returns and downside protection. These instruments are typically in the form of debt or convertible preferred stock. Terms may include penalty payments if the issuer fails to register the underlying common shares by a specified date, beneficial provisions with respect to pricing and seniority, and sweeteners that allow investors to buy additional shares at a discount to market. While attractive to investors, such terms can create hurdles for issuers.
Kuwaiti conglomerate sues Carlyle over debt fund collapse
Category: United States | Publishing date: 01 Dec 2009US private equity giant Carlyle is being sued by a Kuwaiti conglomerate which lost $50m in the collapse of the firm’s Carlyle Capital Corp debt fund. According to the Financial Times, the National Industries Group has alleged that Carlyle misrepresented the safety of the fund, which collapsed in March 2008 despite investing primarily in government-backed and AAA-rated mortgage securities.
Connecticut Innovations brings in new managing director
Category: United States | Publishing date: 01 Dec 2009Connecticut Innovations (CI), a semi-public organisation that provides strategic capital and operational insight for energy, biotech, IT and photonics industries, has appointed a new managing director of investments, David Wurzer. His responsibilities will include sourcing and analysing investment opportunities, investing in entrepreneurial high-tech ventures and providing advice to CI’s portfolio companies.
Electra to target distressed sellers after a defensive investment year
Category: Private Equity News | Publishing date: 01 Dec 2009UK listed private equity firm Electra has said that it is back targeting distressed assets after a year spent protecting its portfolio. The firm announced on Tuesday that its net share value had fallen 4.5 per cent to £17.02 (€18.69) per share for the year ending 30 September 2009.
The Global Venture Capital and Private Equity Country Attractiveness Index, by IESE Business School
Category: Surveys | Publishing date: 01 Dec 2009For the first time, a broad international index has been created that measures countries’ attractiveness to investors in venture capital and private equity limited partnerships. A total of 66 countries spanning six continents were included in the survey.
Founder of Allegis Capital Bob Ackerman on corporate venture issues and the move away from mega VC funds
Category: Features | Publishing date: 01 Dec 2009Bob Ackerman, founder of Silicon Valley firm Allegis Capital and board member of The Entrepreneur’s Foundation recently spoke with AltAssets to discuss venture capital issues. In this second part of our conversation, Bob discusses how corporations have stepped back from funding their own innovation, why it makes sense for venture capital firms to have healthy working relationships with corporations, and which types of venture capital firms will succeed and which will fail during this unprecedented period of transition.
Baring Private Equity Asia exits Yingde via IPO
Category: Private Equity News | Publishing date: 30 Nov 2009Baring Private Equity Asia portfolio business Yingde Gases Group Company, a Chinese industrial gas supplier, has completed an IPO, listing on the Hong Kong Stock Exchange.
Spring Capital Asia holds first close on $151m
Category: Hong Kong | Publishing date: 30 Nov 2009Spring Capital Asia, a private equity firm investing exclusively in China and Hong Kong, has held the first closing of Spring Capital Asia Fund on $151m. The vehicle is targeting $200m to $250m.
Go4Venture's Monthly European Technology Venture Capital Bulletin - October 2009
Category: Knowledge Bank | Publishing date: 30 Nov 2009We tracked 32 transactions for a total of €168m in investment in our October 2009 Headline Transaction Index (HTI). This is 24 per cent lower than the €222m recorded across 35 deals in the same month last year.
UK pension funds cut private equity allocation in half
Category: Private Equity News | Publishing date: 27 Nov 2009UK pension funds have cut their allocation to private equity and venture capital investments by more than half in the last year, according to a recent survey by the National Association of Pension Funds.
Global Environment Fund invests $46m in Indian renewable energy producer Greenko
Category: India | Publishing date: 26 Nov 2009Global Environment Fund (GEF), a private equity fund dedicated to cleantech investments in emerging markets, has invested $46.3m in Greenko in Hyderabad, India.
The new buy-out: how the financial crisis is changing private equity
Category: Knowledge Bank | Publishing date: 25 Nov 2009In late 2008, Leon Black declared, "traditional private equity is dead," and signaled that his firm, Apollo Management, would seek investment returns in the credit markets during the coming years. For Black, who has a successful track record in distressed debt investments, the debt market offered an obvious opportunity after plunging to its lowest trading levels in history in the wake of the financial crisis. Also, his prediction of a moratorium on large-scale "traditional" leveraged buyouts has largely been fulfilled. But the events of the past year have shown that private equity is not dead. It is, however, meaningfully different. It has evolved to adapt to the new economic environment, or new world, created by the financial crisis.
Fund of funds TD Capital spins out, rebrands as Northleaf Capital Partners
Category: Canada | Publishing date: 25 Nov 2009The private equity fund of funds arm of Canada’s TD Bank Financial Group, TD Capital Private Equity Investors, has spun out and rebranded as Northleaf Capital Partners.
Apax’s Richard Wilson to chair EVCA
Category: People News | Publishing date: 24 Nov 2009Apax partner Richard Wilson has been named as the latest chairman of the European Venture Capital Association, the key trade body for private equity and venture capital on the continent. He replaces Jonathan Russell of 3i.
Private equity, brand equity – a study of the relevance of brand in the private equity industry
Category: Leading Edge | Publishing date: 24 Nov 2009BackBay Communications, a public relations and marketing firm, recently conducted the BackBay Communications Private Equity Brand Survey. The goal of this study was to examine the importance of private equity firms developing and maintaining a positive brand. The company was curious about whether industry participants felt a strong brand was important. With which audiences it is most vital for general partners to have positive brand recognition. How private equity brands are built and maintained. And which private equity firms the industry believes have the strongest brands.
Apollo tunes in to India with $100m DishTV investment
Category: Private Equity News | Publishing date: 23 Nov 2009US private equity giant Apollo has made its first investment in India, taking an 11 per cent stake in direct-to-home television company DishTV. The firm will inject $100m of global depository receipts, valuing the company at just under $1bn.
UK PE firm Kelso Place sells i2S Group’s controls division to Carrier Corporation
Category: Private Equity News | Publishing date: 20 Nov 2009Kelso Place Asset Management portfolio company i2S Group has sold its controls division to Carrier Corporation, a unit of United Technologies Corporation. i2S provides integrated building control and data communication systems, largely for commercial office buildings and data centres.
Carlyle makes $60m of Chinese investments
Category: Private Equity News | Publishing date: 19 Nov 2009US private equity firm Carlyle has invested over $60m in three Chinese companies, four months after the close of its fourth Asian growth fund. The three companies are reportedly Nantong Rainbow Heavy Industry, a supplier of ship components and large marine steel structures, agricultural company China Agritech, and online travel services company iTour.
Chelsio Communications gets $17m venture funding
Category: United States | Publishing date: 18 Nov 2009Chelsio Communications Inc has completed a $17m round of financing. Chelsio supplies ten gigabit ethernet adapters, application-specific integrated circuits, and storage solutions which it claims make it the leader in the convergence of networking, storage and clustering interconnects.
NBGI Private Equity serves up £13m MBI of Pasta King
Category: United Kingdom | Publishing date: 18 Nov 2009NBGI Private Equity (NBGI), a private equity firm investing in small and medium-sized UK-based companies, backed a £13m (€14.6m) management buy-in of Pasta King.
Founder of Allegis Capital Bob Ackerman on the over-capitalisation of cleantech
Category: Features | Publishing date: 18 Nov 2009Bob Ackerman, founder of Silicon Valley firm Allegis Capital and board member of The Entrepreneur's Foundation, recently spoke with AltAssets to discuss venture capital issues. In this first part of our conversation, Bob exposes the hype surrounding cleantech, the bubble that is currently growing around the sector and the dangers of blindly throwing capital at such investments without fully understanding them.
Spark Capital leads $15.5m round for IPWireless
Category: United States | Publishing date: 18 Nov 2009Boston-based venture firm Spark Capital has led a $15.5m series A round of funding for IPWireless, a company dedicated to finding next generation wireless solutions, including silicon, software, and network infrastructure all based on 3GPP standards.
Polaris, Summit back wealth management firm with $50m growth investment
Category: Private Equity News | Publishing date: 17 Nov 2009Focus Financial Partners, a partnership of independent wealth management firms, has secured $50m in growth capital from Polaris Venture Partners and Summit Partners. Polaris contributed $35m and Summit Partners, Focus’ initial backer in January 2006, the additional $15m.
Stem cell company Fate Therapeutics in $30m venture round
Category: United States | Publishing date: 16 Nov 2009Fate Therapeutics Inc, a stem cell biology company, has completed a $30m series B financing led by OVP Venture Partners. Joining OVP was a syndicate of corporate investors, including Astellas Venture Management, Genzyme Ventures and a third undisclosed corporate investor.
The meaning of risk, writes Acrostic CEO Ray Maxwell
Category: Features | Publishing date: 16 Nov 2009As a member of the Monty Python generation, when discussions on investments turns to risk I’m reminded of Eric Idle’s Galaxy Song written for the film The Meaning of Life where he informs us that life is fragile and that we exist on a lump of rock in an infinite universe.
Looking to the future: telecoms investment opportunities for 2010
Category: Telecoms | Publishing date: 13 Nov 2009This report produced by Onda Analytics examines upcoming investment opportunities in the telecoms market that are critical for investors looking to put money to work in this sector. From digital dividend auctions in Europe to privatisations in Africa, a wide range of opportunities are covered.
Investor Profile: Sipilä Samuli, Managing Director, Pohjola Private Equity Funds
Category: LP Profiles | Publishing date: 12 Nov 2009Sipilä Samuli on investing in the European lower mid-market, on the value of fund placement agents and on investors’ nous for putting money into funds now for attractive vintages.
The angel investor market in H1 2009, according to the Center for Venture Research
Category: Surveys | Publishing date: 12 Nov 2009This report summary, courtesy of the Center for Venture Research at the University of New Hampshire, offers an overview the US angel investment market for the first half of 2009. During this period angel investment experienced a considerable decline in investment dollars from last year but exhibited a slight increase in the number of deals done.
