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Month: July 2020

HKW Closes Third Fresh Direct Add-On

Fresh Direct Produce, a distributor of fresh, ethnic, tropical, organic, and specialty produce and a portfolio company of HKW, has acquired Mike and Mike’s Organics. Mike and Mike’s is a non-grower distributor of organic fruits

Charlesbank’s New Credit Fund Hits Hard Cap

Charlesbank Capital Partners has held a $700 million, oversubscribed, and hard cap closing of Charlesbank Credit Opportunities Fund II LP. The new fund’s original target was $500 million. Fund II has more than 30 institutional

Why the Covid-19 pandemic is exposing corporate fraud

It is at times of economic stress that wrongdoing most often comes to light – we should expect plenty more to come

European real estate returns take a hit in the first quarter amid Covid-19

The performance of unlisted funds in the first quarter was the lowest since the last quarter of 2012, data by Inrev reveals

KKR to buy Global Atlantic Financial Group for around $4bn

The private equity giant would boost assets under management and give itself a stronger hold in the insurance sector

Tikehau strikes first Italian deal from energy transition fund

The investment in Euro Group Laminations was made by Tikehau’s T2 Energy Transition Fund, which has raised €500m as of December last year

Silver Lake to acquire French HR software provider

Based in Aix-en-Provence, Silae was founded in 2010 and offers cloud-based payroll and HR software to more than 550,000 businesses in France

CP Indo tests interest for $308m refi

Charoen Pokphand Indonesia is gauging appetite among a select few existing lenders for a new $307.9m-equivalent dual-currency loan.

CMS readies $2.1bn rights issues

China Merchants Securities is planning to tap the Mainland and Hong Kong markets for a pair of rights issues that will raise a combined Rmb14.99bn ($2.13bn).

BMW sails through market volatility, seals second ABS

BMW Automotive Finance bagged Rmb8bn ($1.14bn) from a three tranche auto loan ABS transaction on Tuesday. The deal was priced tightly despite difficult market conditions in China.

Bohai Bank to price billion-dollar-plus HK IPO low

China Bohai Bank is set to price its Hong Kong IPO around the bottom of the marketed range on Thursday to net HK$13.7bn ($1.77bn), according to a source close to the deal.

BoCom Leasing takes $800m from fixed, FRN combo

Bank of Communications Financial Leasing Co priced a $800m dual-tranche deal on Tuesday. While it initially wanted to sell just a floating rate note, it added a fixed rate portion too due to investor interest.

Metrobank returns to dollars after 14 years

Metropolitan Bank & Trust Co followed fellow Philippine bank BDO Unibank offshore this week, raising $500m on Tuesday.

China bonds: transparency push a clear win

The Shanghai Clearing House’s decision to give bond issuers insight into the holders of their debt is a smart move. China has enough regulation; what it lacks is information.

Greentown uses bond to slash refi risks

Greentown China Holdings netted $300m from a bond on Tuesday to pay off notes that are due this year.

ICTSI wades into market for second dollar bond of the summer

International Container Terminal Services (ICTSI), a Philippine port company, made a quick return to the debt market on Tuesday, selling a $300m perpetual bond just weeks after securing a $400m trade.

TCL benefits from SBLC for $300m debut

TCL Technology Group Co sold its maiden dollar bond on Tuesday, getting a 10 times oversubscribed book at its peak thanks to a standby letter of credit (SBLC) from Bank of China.

Oddo BHF Private Equity Secondaries Fund closes on €358m

Oddo BHF Private Equity has closed its secondaries fund on €358m, exceeding its initial €300m target.

DACH fundraising update: H2 2020 pipeline

Although the coronavirus pandemic has set back plans for many GPs, a number of mid-market and small-cap buyout vehicles are on the road in the DACH region, along with several venture capital funds. Harriet Matthews

Succession plan revealed at Levine Leichtman as veteran co-founders prepare for future

Levine Leichtman Capital Partners has revealed its succession plan as co-founders Arthur Levine and Lauren Leichtman look to the next generation of leaders, 36 years after launching the firm.

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