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Month: September 2020

Stellex Closes Big Fund, Opens New Office

Stellex Capital Management has closed Stellex Capital Partners II LP with total commitments of more than $1.77 billion and exceeding the fund’s original $1.25 billion target. Stellex closed its debut fund in July 2017 with

Berkshire Launches El Dorado Foods

Berkshire Partners has partnered with food executive Javier Vélez-Bautista to form El Dorado Foods. Mr. Vélez-Bautista now becomes the CEO of El Dorado and the new platform will be active acquiring Latin-inspired food and beverage

Benford Closes First Fund

Benford Capital Partners has held a final closing of its inaugural private equity investment fund, Benford Capital Partners Fund I LP. The new fund closed with total limited partner commitments of $130 million, markedly above

AUA Enter Pet Products Sector

AUA Private Equity has acquired the Rhode Island Textile Company, dba Westminster Pet Products, a developer and marketer of pet treats, chews, and supplies. Westminster’s private label and branded products, sold under the RUFFIN’ IT

No V-shaped recovery in sight for Europe’s banks, says Fitch

Loan losses will keep rising as governments stop propping up borrowers and the economic devastation becomes clear

Wirecard sells UK card tech unit in fallout from corporate scandal

A spokesperson for Wirecard said it expects job losses among its 80 UK staff

Apax nets over fivefold return from €1.3bn Idealista sale

The Spanish online real estate listings platform was sold to EQT

VC investor Sequoia launches a Chinese hedge fund

Sequoia Capital Equity Partners fund starts with initial capital of more than $300m from investors

Linyi LGFV sells maiden $300m bond

Chinese local government financing vehicle (LGFV) Linyi City Construction Investment Group Co raised $300m from its inaugural transaction against a weaker market backdrop.

Asia people news in brief: September 10, 2020

Minsheng appoints new syndicate head — MUFG hires in Vietnam

Advent to commit CHF 415m in Dufry rights offering

Advent International is to commit CHF 415m in a rights offering to be issued by listed Switzerland-headquartered travel retailer Dufry to existing shareholders.

Advent to back Swiss travel retailer Dufry

The US-based private equity firm has committed to buy shares worth up to CHF415 million at CHF28.50 each

Bridgepoint sells Miya to Afin Infrastructure

Bridgepoint has sold water efficiency specialist Miya to Antin Infrastructure Partners.

China Renaissance Holdings hits RMB40bn of PE assets through final close of latest US-dollar fund

China Renaissance Holdings has raised more than $600m for the final close of its Huaxing Growth Capital USD Fund III.

QuadSAT raises €2m in pre-series-A round led by Seraphim

Danish drone startup QuadSAT has raised €2m in a pre-series-A investment round led by space-technology investor Seraphim Capital.

Levine Leichtman brings in Kohlberg & Co’s Jeon as director amid string of promotions

Levine Leichtman Capital Partners has named Tannaz Chapman as its newest managing director among a string of promotions at the firm.

Anthemis venture fund to hold final close before H2 2021

Anthemis Insurance Venture Growth Fund I (AIVGF I) is expected to hold a final close before the end of H2 2021.

Hg-backed Visma acquires Cash Software

Visma – a Norway-based cloud software company backed by Hg, Warburg Pincus and TPG, among others – has acquired Dutch accounting software company Cash Software.

Pandemic fails to shackle European alternatives as AUM reaches €2tn for first time

European alternatives funds have reached €2tn of assets under management for the first time despite a dampening of activity amid the coronavirus pandemic.

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