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Dare I Say It?
After debating whether or not I should attend this
year’s ACG Intergrowth conference, I decided to go for it and I am
glad I did. Although attendance was down slightly compared to last
year’s, the event was still packed. The network opportunities were
abundant. It was good to catch up with old friends and make news
ones—after all that’s what Intergrowth is all about. It almost
seemed like the Capital Connection could have been longer.
Read
More
June 9-11, 2009- There’s
never been a better time to learn about investing in
China…
The Association for Corporate Growth is
pleased to announce that the 3rd Annual China International Private
Equity Forum (CIPEF) will take place from June 9-11, 2009 in Tianjin,
China. CIPEF provides a unique opportunity to learn firsthand
about investing in China, network with over 4,500 global corporate
executives, and meet with over 1,000 senior level executives from
Chinese Growth companies, selected by ACG. At no extra cost,
attendees can exhibit at the Capital Connection, CIPEF’s featured
event. Please register soon. |
DEALS
AIG Pushes Asia Spinoff
Via IPO
The beleaguered insurer is expediting steps to put American
International Assurance Group on Hong Kong exchange.
Emptoris Buys Requisite
Technology
Emptoris, a portfolio company of Marlin Equity Partners, has purchased
three software units from Requisite Technology, formerly known as Click
Commerce. Emptoris is a contract management solutions service. The
acquisition expands Emptoris’ solution footprint. Financial terms
were not disclosed.
Rock Hill Buys
SouthWaste
Rock Hill Capital Group has completed the acquisition and
recapitalization of SouthWaste Services, Inc. The transaction was
financed with equity from Rock Hill Capital I, L.P. and existing
SouthWaste shareholders along with debt refinancing from Macquarie Bank
Limited and The 1818 SBIC Fund, L.P., a mezzanine fund managed by Brown
Brothers Harriman. SouthWaste, headquartered in Houston, is a provider
of non-hazardous liquid waste collection, processing and disposal
services. SouthWaste was founded in 2005 by a group of private
investors.
Riverside Expands Service
Offerings of Crisis Prevention Platform
Crisis Prevention Institute has added Dementia Care Specialists to its
offering. Dementia Care Specialists, based in Hillsborough, N.C., is a
training program that offers specific techniques to assess and work
safely with individuals with dementia to maximize
functionality.
Dementia Care Specialists has trained more than
5,000 professionals since its inception using company-developed
materials and techniques, via live on-site training as well as open
seminars.
The PFM Group Receives
Investment By ICV Capital
ICV Capital Partners has made an investment into The PFM Group, an
independent financial and investment advisor to state and local
governments and not for profit institutions with approximately $35
billion of assets under management. The investments is expected to
enhance the firm’s future growth and development. ICV
Capital’s equity investment is joined by that of the Michigan
Employees Retirement System Strategic Opportunity Fund LP. Debt
financing for the transaction was provided by two Pennsylvania community
banks, Susquehanna Bank of Lancaster and TriState Capital Bank of
Pittsburgh. Private Capital Research, LLC sourced this transaction and
acted as exclusive buy side advisor to ICV. Kirkland & Ellis served as
legal advisor to ICV. Ernst & Young acted as accounting due diligence
advisor to ICV.
DEALS
Stephens Launches Energy
Group
The firm hired six investment bankers from Energy Capital Solutions, and
will run a new office in Houston.
Windpoint Closes Fund
VII
According to reports, Wind Point Partners VII LP has raised $915 million
for its seventh fund, just shy of its $1 billion target. Wind Point
Partners VI LP, closed in September 2005 with $700 million in
commitments.
Bio Equity Risk
Management Launches Boston Office
Bio Equity Risk Management, a boutique healthcare investment firm,
opened its doors in Boston. The firm was founded by investment banking
veteran Joseph Siletto, who was previously a healthcare banker with
Cowen & Co. and Nessan Bermingham, who was most recently a partner at
Omega Funds, a direct secondary healthcare fund. Cheryl Lubin is working
as the firm’s special advisor; she previously was manager at Omega
Funds. The investment bank’s advisory board includes David Feigal,
of NDA Partners; Jean-Francois Formela, of Atlas Venture; Ian Garland,
CEO of biotech company Vernalis; Art Rosenthal, CEO of Cappella and Tim
Wilson.
KDB Launching PE
Fund
According to reports, state-run Korea Development Bank plans to set up a
private equity fund with other institutional investors to buy the
corporate assets of troubled South Korean conglomerates' non-core
business units to assist corporate restructuring in the country. The new
fund is expected to be KRW1 trillion ($800M USD), but plans to expand
the size with contributions from foreign investors and domestic
institutional investors. The fund is expected to be set up by June
2009.
PEOPLE
Skadden M&A Pros Bolt for
Kirkland
The defection of two top partners from the law firm puts the smaller,
peripheral player in position to grow.
Behrmam Hires Operating
Partner
Behrman Capital, a private equity investment firm based in New York and
San Francisco, has hired Robert Flaherty as an operating partner.
Flaherty will work with existing Behrman Capital portfolio companies to
build value as well as source and evaluate new acquisition platforms in
the healthcare space for the firm’s continued growth. Flaherty
served for over 17 years as president and CEO of Athena Diagnostics
before his retirement earlier this month. During his tenure he grew
Athena’s revenue from $3 million to $110 million and profits from
zero to $50 million.
Lazard Adds Healthcare,
Consumer MDs
Lazard Middle Market added a pair of managing directors to its ranks.
Alexander Chefetz, a consumer products banker, comes to Lazard in New
York after spending 10 years at Thomas Weisel Partners where he was a
managing director, co-head of the consumer investment banking group and
a founding partner of the firm. His expertise covers M&A, private
placements, PIPEs and IPOs. Douglas Brown will also join Lazard,
covering healthcare. Brown joins Lazard in Charlotte; he previously
worked for Wachovia Securities’ healthcare banking group for the
last eight years.
Windjammer Promotes
Two
Windjammer Capital Investors has promoted John Donahue to principal and
Chris Allen to vice president. Both men are located in Windjammer’s
Waltham, Massachusetts office. Prior to joining Windjammer in 2001,
Donahue worked at Robertson Stephens, Inc. and in the Leveraged Finance
Group at BankBoston. Allen joined Windjammer in 2007 after graduating
with an M.B.A. from Harvard Business School.
Deutsche Hires Merrill
Airline Banking Pro
Deutsche Bank hired Michael Masterson, a former Merrill Lynch airline
banker, as its co-head of Americas transportation and infrastructure,
according to an internal memo obtained by MergersUnleashed.com sister
publication IDD on Thursday. At Merrill, Masterson was head of airlines
and aicraft leasing investment banking for the Americas. He was at
Merrill since 1997, where he was involved with M&A and capital-raising
for airlines, railroads and trucking companies. At Deutsche, Masterson
will be a managing director. He will co-head the German banking giant's
transportation and infrastructure effort with Craig Fuehrer.
Greenhill Hires Trio from
Dresdner
Greenhill & Co. hired energy banker Vittorio Perona to spearhead the
firm’s European energy and utilities team out of London. Perona,
who joins Greenhill as a managing director, previously led the global
power, natural resources and chemical group at Dresdner Kleinwort.
Perona served as a managing director with Dresdner Kleinwort for the
past six years both in London and in Brazil.
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