AlpInvest Partners' AlpInvest Secondaries Program has reached $4.2 billion, including AlpInvest Secondaries Fund V closing at its hard cap of $750 million. The ASP is a dedicated secondaries program that has acquired positions in existing private equity funds and interests in privately held companies since 2012.
3 min read · 16 October 2013
EDG Partners, their affiliates, and co-investors have sold Gemino Healthcare Finance to Solar Senior Capital. The transaction, with Houlihan Lokey as financial advisor and Jones Day as legal advisor, represents a successful exit for investors and management, who have been retained under the new ownership to continue managing the Gemino platform.
2 min read · 16 October 2013
TPG has acquired PointPark Properties from Arcapita, an international investment company. As part of the transaction, the investors will also commit additional capital to strengthen P3's balance sheet and to provide support for future growth.
4 min read · 16 October 2013
State Street Corporation has appointed José Almeida, chairman, president and chief executive officer of Covidien, to its board of directors. Almeida currently serves on the board of directors of Advanced Medical Technology Association, Partners in Health, a non-profit healthcare organization aimed at bringing medical care to those most in need globally and is a member of the Business Roundtable.
2 min read · 16 October 2013
GI Partners, a Bay Area-based multi-strategy private equity investment manager, has acquired a three-story 620,000 square foot LEED certified data center and crisis command center located in close proximity to Dallas Fort Worth International Airport. The investment was made through DataCore, a real estate fund managed by GI Partners.
3 min read · 16 October 2013
Duff & Phelps, a financial advisory and investment banking firm has appointed David Lu as managing director and head of the firm’s investment banking practice in China. Lu and his team, who will be based in Shanghai, join Duff & Phelps from Cowen Group where, most recently, he served as head of Asia investment banking. At Duff & Phelps, Lu will focus on providing advisory services related to mergers & acquisitions, fairness opinions, going-private transactions, private market capital raising transactions and financial restructuring in China.
2 min read · 16 October 2013
Japan’s SBI Holdings and the Netherlands Development Finance Company have announced the formal launch of the SBI-FMO Emerging Asia Financial Sector Fund. The fund will invest in promising financial sector opportunities in emerging Asia (with a focus on India, Sri Lanka, Bangladesh, Indonesia, Philippines, Thailand, Cambodia and Vietnam) and will be managed by SBI Ven Capital, Singapore.
2 min read · 16 October 2013
FF&P Private Equity, the direct investment arm of Fleming Family & Partners, has announced the sale of OB10 to Tungsten Corporation. The transaction sees FF&P investors and co-investors realise 70% of their holdings in cash and convert the remainder into Tungsten Corporation shares which will be listed on the AIM market. FF&P Private Equity investors and co-investors will yield returns of up to 3.4x on their investments.
3 min read · 16 October 2013
Investec Specialist Bank has appointed Alexandre Neiss to its corporate lending business. Reporting to Callum Bell, head of specialist corporate capital, Alexandre will play a key part in originating, structuring and arranging finance solutions for financial sponsors and corporate clients.
2 min read · 16 October 2013
The Guidelines Monitoring Group, a body established to review the private equity industry’s conformity with the Walker Guidelines, has appointed Nick Land as chairman and Glyn Parry as an independent member of the group. Land is a non-executive director on the boards of the Financial Reporting Council, Vodafone Group, Alliance Boots, BBA Aviation and the Ashmore Group. Parry is the director of group financial control at BT Group with executive responsibility for the group’s financial reporting obligations.
3 min read · 16 October 2013
