SCS Capital amasses $574 mln for fifth fund

SCS Capital Management has raised $574 million for its fifth fund, according to an updated SEC filing. No target was specified in the document. https://www.sec.gov/Archives/edgar/data/1697845/000173160318000008/xslFormDX01/primary_doc.xml

Grey Rock raises $232.5 mln for third fund

Grey Rock Energy Partners has closed its third oversubscribed fund at $232.5 million. The fund’s limited partners are repeat investors who previously participated in past Grey Rock funds. Thompson & Knight LLP served as formation counsel for the fund. No placement agent was used. The Dallas-based private equity firm acquires non-operated working interests in core unconventional basins. PRESS RELEASE DALLAS–(BUSINESS WIRE)–Grey Rock Energy Partners (“Grey Rock”) announced today that it recently held its first and only close of Grey Rock Energy Fund III (“Fund III”) which was oversubscribed with $232.5 million in capital commitments. The entirety of Fund III was raised through institutional investors; the majority are repeat investors who participated in prior Grey Rock funds. Grey Rock is a Dallas-based private equity firm with more than $450 million of assets and committed capital under management. The company acquires non-operated working interests in core unconventional basins, either by
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PSG wraps up third fund at $1.3 bln

Providence Strategic Growth Capital Partners LLC, an affiliate of Providence Equity Partners LLC, has closed its third oversubscribed fund at a hard cap of $1.3 billion. PSG Fund III’s limited partners include state pension funds, family offices and high-net worth individuals. The fund will focus on the software industry. In December 2016, PSG closed its second fund at $640 million. No performance data was available. So far, PSG Fund III has made a number of investments in companies that include EverCommerce, a service commerce platform; Jobcase, an employee-focused social media platform; and Patron Technology, a provider of customer relationship management, box office ticketing, fundraising, and email marketing technologies. Founded in 2014, PSG focuses on growth equity investments in lower-middle market software and technology-enabled service companies, mostly in North America.  

MetaProp wraps up second venture fund at $40 mln

MetaProp has closed its second venture fund at $40 million. MetaProp Ventures II will invest between $150,000 and $2 million in up to 40 new PropTech software, internet of things hardware and tech-enabled services startups. The fund’s limited partners include RXR, PGIM Real Estate, Cushman & Wakefield, CBRE, JLL Spark and Altus Group. PRESS RELEASE NEW YORK, NY — June 19, 2018 — MetaProp, the world’s premier early stage PropTech venture capital, advisory and acceleration firm, has closed its second venture capital fund, MetaProp Ventures II, LP at $40 million, more than 50 percent over-subscribed. MetaProp’s new fund will invest from $150,000 to $2 million in up to 40 new PropTech software, internet of things (“IoT”), hardware and tech-enabled services startups. Founded in 2015, MetaProp will continue its strategy of investing in the newest real estate technologies like 3D printing, blockchain, co-working/co-living, augmented reality and digital energy management across all
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PPM closes seventh co-investment fund at $648 mln

PPM America Capital Partners has closed its seventh private equity co-investment fund at $648 million. PPM American Private Equity Fund VII LP will focus on North American middle market buyout and growth opportunities. PRESS RELEASE CHICAGO–(BUSINESS WIRE)–PPM America, Inc.’s private equity arm, PPM America Capital Partners (collectively “PPM”), today announced the closing of its seventh co-investment fund, PPM America Private Equity Fund VII LP, with a 159% increase in size from its predecessor fund. The newly closed Fund is a part of PPM’s long-standing private equity program which primarily focuses on North American middle market buyout and growth opportunities. PPM’s private finance team was established in 1991; by 1996, the team expanded and developed into separate asset class teams focused on private equity, private debt, bank loans, and structured finance. PPM America Capital Partners was formed in 2000 and today consists of 10 investment professionals led by President Bruce
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Stone Canyon Industries to acquire ICS from Centerbridge

Stone Canyon Industries LLC has agreed to acquire Industrial Container Services, a provider of container solutions, container services and container management systems. No financial terms were disclosed. ICS is currently owned by Centerbridge Partners LP. PRESS RELEASE LOS ANGELES, June 14, 2018 /PRNewswire/ — Stone Canyon Industries LLC (“SCI”), through its subsidiary, BWAY Holding Company (“BWAY”), entered into a definitive agreement and plan of merger to acquire the parent holding company of Industrial Container Services (“ICS”), a leading provider of container solutions, container services, and container management systems. ICS is currently majority-owned by investment funds affiliated with Centerbridge Partners, L.P. (“Centerbridge”). BWAY is a leading global supplier of industrial rigid packaging products and services. The transaction, which is comprised of cash and stock consideration payable to ICS shareholders, has an enterprise value of approximately $1.0 billion. It is anticipated that on a pro forma basis, after giving effect
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Maranon backs Falfurrias Capital’s buyout of Tax Guard

Maranon Capital has provided a senior credit facility to back Falfurrias Capital Partners’ acquisition of Tax Guard. No financial terms were disclosed. Based in Boulder, Colorado, Tax Guard is a provider of data that helps give lenders insights into a client’s hidden tax liabilities. PRESS RELEASE CHICAGO–(BUSINESS WIRE)–Maranon Capital, L.P. today announced that it was Agent for a senior credit facility to support Falfurrias Capital Partners’ acquisition of Tax Guard. Headquartered in Boulder, Colorado, Tax Guard is the leading provider of proprietary data and services that help lenders accurately assess tax-related credit risk associated with potential borrowers. Tax Guard is the first company in the U.S. to give lenders real-time insights into a client’s hidden tax liabilities, information typically not available to lenders unless and until the IRS files a tax lien. For more information, visit www.Tax-Guard.com. About Maranon Capital Maranon Capital, L.P. is an
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PE HUB Second Opinion

New York’s attorney general is seeking to shut down President Trump’s charitable foundation, accusing the president of using the charity to advance his self-interests and boost his 2016 presidential campaign. Royal Caribbean Cruises Ltd is acquiring a majority stake in Silversea Cruises for about $1 billion. The Justice Department says that former FBI Director James Comey was “subordinate” in the Hillary Clinton email inquiry; however, the Justice Department also noted that there was no proof that political FBI bias affected the outcome. Under pressure from investors, Rolls-Royce will cut 4,600 jobs. Microsoft is developing its own cashierless store technology, says a report. Kentucky sues Walgreens for its role in the opioid crisis. The disgraced organizer of the Fyre Festival, who was charged last year with wire fraud in connection to the failed event, allegedly sold fake tickets while out on bail. European Commission names 52 experts to its AI advisory
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Atlanticus procures $100 mln debt financing

Atlanta-based Atlanticus Holdings Corp, a consumer finance company, has secured a $100 million revolving credit facility from Credit Suisse AG, Cayman Islands Branch. The closing of this revolving credit facility comes on the heels of Atlanticus securing a $90 million revolving credit facility from TowerBrook Capital Partners. PRESS RELEASE ATLANTA (PRWEB) JUNE 14, 2018 Atlanticus Holdings Corporation (NASDAQ: ATLC) (“Atlanticus”, “we”, “our” or “us”), a technology enabled consumer finance company, today announced the closing of a $100 million asset-backed, revolving credit facility with Credit Suisse AG, Cayman Islands Branch, a leading financial services provider. The new facility allows for a total of $190 million in committed debt capital (when combined with existing facilities) to fund our investments in Fortiva® branded general-purpose credit card receivables. The revolving credit facility follows the closing of our previous $90 million revolving credit facility with TowerBrook Capital Partners L.P. (“TowerBrook”), a transatlantic investment management firm,
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Teleperformance to buy Intelenet from Blackstone for $1 bln

Blackstone has agreed to sell Intelenet to Teleperformance for a consideration of $1 billion. The deal is expected to close by September 30, 2018. J.P. Morgan was financial adviser to Intelenet on the transaction. Headquartered in Mumbai, India, Intelenet is a provider of customer experience management, back-office, human resources, financial and administration services. PRESS RELEASE Teleperformance (Paris:TEP), the worldwide leader in outsourced omnichannel customer experience management, today announced that it has entered into a definitive agreement to acquire Intelenet from Blackstone (NYSE: BX), a leading global alternative asset manager. Intelenet is a major global provider of high-end omnichannel customer experience management, back-office, human resources and financial & administration services. The company has more than 110 blue chip clients worldwide, mostly in the English-speaking market, India and the Middle East. Intelenet primarily serves the Banking, Financial Services and Insurance sector (BFSI), as well as the travel, transport & accommodation, e-commerce,
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Life insurance startup Ethos rakes in $11.5 mln

San Francisco-based life insurance startup Ethos has raised $11.5 million in funding. Sequoia Capital led the round with participation from other investors that included Stanford University, Arrive, a subsidiary of Roc Nation, Robert Downey Jr.’s Downey Ventures, Kevin Durant’s Durant Company, Will Smith’s Smith Family Circle and Silicon Valley Bank. In addition to the funding, Roelof Botha, a partner at Sequoia Capital, has joined the Ethos board of directors. Source: Press Release

Mindstrong Health lands $15 mln Series B

Palo Alto, California-based Mindstrong Health, a healthcare company focused on measuring brain health, secured $15 million in Series B financing. The investors in this round included Bezos Expeditions, Decheng Capital, Optum Ventures, ARCH Venture Partners and Foresite Capital. Source: Press Release