Peruvian private equity firm Nexus Group has closed of its international institutional fund, NG Capital Partners I, at $320 million. This exceeded the planned $250 million fundraising target, and hit the hard cap of $320 for institutional limited partner commitments, the firm announced Thursday. Shearman & Sterling LLP served as legal counsel to Nexus Group. MVision Private Equity Advisors acted as the placement agent for NG Capital Partners I.
2 min read · 27 May 2011
Buyout shop Thomas H. Lee Partners has acquired Sword Insurance, a provider of software and services to the property and casualty insurance industry, from French-owned Sword Group. The deal is expected to close next month. Terms were not disclosed.
3 min read · 27 May 2011
Buyout shop Oak Hill Capital Partners will acquire cloud services company Intermedia.net Inc. Terms of the deal were not released. As part of the deal, Phil Koen, former chief executive of Savvis Inc., will join Intermedia as the new chairman and chief executive. Formed in 1995, Intermedia provides cloud-based business-class email services to small and medium-sized businesses. The transaction is expected to close during the second quarter. UPDATE: Aaron Hill, Jason Stack, Adam Chewning, Chris Fritz and Annie Wang of Stifel Nicolaus Wiesel provided financial advice to Intermedia.
5 min read · 26 May 2011
VinaCapital Vietnam Opportunity Fund Ltd. has acquired a minority stake in in Yen Viet Joint Stock Company, a Vietnamese consumer goods firm that sells edible bird's nest nutritional products. Terms of the deal were not released. VinaCapital is an investment management and real estate development firm in Vietnam. Formed in 2003, it has $1.7 billion in assets under management.
3 min read · 26 May 2011
3 min read · 26 May 2011
Private equity firm BC Partners sold a 9.5% stake in elder and dependent care company Medica to French real estate and healthcare investment company Batipart, Reuters reported. The deal was valued at 72.5 million euros ($102 million).
2 min read · 26 May 2011
Venture investors iNovia Capital, the Business Development Bank of Canada and BlackBerry Partners Fund have teamed up to launch a Vancouver-based accelerator program called GrowLab, the firms announced Thursday. Dubbed a “start-up boot camp” for entrepreneurs, participating companies can seal up to $25,000 in seed financing, four months of mentorship, free office space and the opportunity to pitch investors at the end of the program for follow-on funding.
3 min read · 26 May 2011
The Alberta Investment Management Corp. will spend as much as 700 million Canadian dollars ($715 million) on private equity acquisitions over the next year, and as much as 2 billion Canadian dollars over the next four years, Reuters reported. AimCo manages about 70 billion Canadian dollars in public pensions and other government funds for the oil-rich western Canadian province of Alberta.
3 min read · 26 May 2011
Apollo Global Management and Broadway Partners have offered more than $1.68 billion for Charter Hall’s U.S. real estate holdings, Reuters reported, citing a story from Bloomberg. AREA Property Partners, Boston Properties Inc. and Highwoods Properties Inc. also reportedly made separate offers for some or all of Charter Hall's 14 U.S. properties.
1 min read · 26 May 2011
GE Capital said Thursday that it would sell its 49.77% stake in Banco Colpatria to its current joint venture partner Mercantil Colpatria. Terms of the exit were not released. The deal is expected to close by June 30.
2 min read · 26 May 2011
