Actis takes majority stake in Kenyan wind power project


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Actis has acquired a majority stake in Kipeto Energy Ltd, a Kenyan wind power project. No financial terms were disclosed. Craftskills Wind Energy International acquired the remaining 12 percent stake. Overseas Private Investment Corporation provided the senior debt.

PRESS RELEASE

Date: 18 December 2018, Nairobi: Kipeto Energy Ltd (“Kipeto”) today announced it has reached financial close following the acquisition by leading growth markets investor Actis of the respective equity interests of IFC, a member of the World Bank Group and African Infrastructure Investment Managers’ (“AIIM”), a member of Old Mutual Alternative Investments.

The project is now funded by equity from Actis (88%) and Kenyan company Craftskills Wind Energy International (12%) alongside senior debt from the Overseas Private Investment Corporation (“OPIC”), the US Government’s development finance institution.
Once operational, Kipeto, located in Kajiado county, as the country’s second largest wind farm will supply 100MW of clean energy to the national

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Hentsu scores funding


This post is by Iris Dorbian from PE Hub Blog: Buyout Deals


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Hentsu, a provider of public cloud technology to hedge funds and asset managers, has raised an undisclosed amount of funding. The lead investor was Credit Suisse Asset Management’s NEXT Investors. Falconwood Corporation and Raptor Group Holdings also participated in the financing.

PRESS RELEASE

New York, October 11, 2018 – Hentsū, a leading provider of fully managed cloud-based online solutions for hedge funds and asset managers, announced today an investment round led by Credit Suisse Asset Management’s NEXT Investors. Additional investors include the Falconwood Corporation, an investment banking firm backed by the family office of Dr. Henry Jarecki, and Raptor Group Holdings, a private investment company backed by the family office of Jim Pallotta.

The investment primarily will be used to drive the expansion of Hentsū’s product offering and sales and marketing efforts.

Founded in 2015 in London, Hentsū is a unique provider of cloud-based solutions to the hedge fund

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Credit Suisse taps veteran Eric Varvel as global head of asset management


This post is by Eamon Murphy from PE Hub Blog: Human Resources


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Credit Suisse announced the addition of Eric Varvel to its international wealth management division, effective June 1, 2016. Varvel will succeed Bob Jain as global head of asset management, reporting to Iqbal Khan, CEO of international wealth management. A twenty-five year veteran of Credit Suisse, Varvel has held several senior roles at the company, including in the Asia Pacific region.

Press Release

Eric Varvel will join the International Wealth Management (IWM) division as Global Head of Asset Management, effective June 1, 2016, succeeding Bob Jain. He will report to Iqbal Khan, CEO of International Wealth Management, and he will be a member of IWM’s Management Committee. Eric Varvel will be based in New York and spend a significant portion of his time in Switzerland and in various emerging markets, including in the Asia Pacific region, to drive forward the further development of our global Asset Management franchise.

Iqbal Khan, CEO of International Wealth

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Third Kind, Andreessen Horowitz, and Allen & Company invest $2 mln in CodeCombat


This post is by Eamon Murphy from PE Hub Blog: Venture Capital Deals


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Third Kind Venture Capital, Andreessen Horowitz, and Allen & Company together invested $2 million in CodeCombat, a computer science learning platform. The seed round funding will help CodeCombat finish its new education program for classroom use.

Press Release

CodeCombat, which offers the most engaging platform for helping kids learn computer science (CS), announced today that it has closed a $2M seed round of funding from Third Kind Venture Capital, Andreessen Horowitz and Allen & Company. The funding was primarily to help CodeCombat finish its new classroom offering, which launches today after extensive beta testing by more than 25,000 students in grades 3-12.

CodeCombat was designed to make learning to code as easy as playing a game. The only CS learning tool that has students typing real code from day one, CodeCombat enables teachers without any CS background to teach a course on coding.

“Until now, CS classes have been

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CodeCombat raises $2 mln from Third Kind, Andreessen, Allen


This post is by Mark Boslet from PE Hub Blog: Venture Capital Deals


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CodeCombat said it raised a $2 million seed round of funding from Third Kind Venture Capital, Andreessen Horowitz and Allen & Company. The company today launched its game-based classroom product designed to help students learn computer science and coding.

PRESS RELEASE

CodeCombat Raises $2M Seed Round, Launches New Game-Based Platform To Help Students Learn Computer Science and Coding

Investors include Third Kind Venture Capital, Andreessen Horowitz and Allen & Company
San Francisco, Calif. – May 2, 2016 – CodeCombat, which offers the most engaging platform for helping kids learn computer science (CS), announced today that it has closed a $2M seed round of funding from Third Kind Venture Capital, Andreessen Horowitz and Allen & Company. The funding was primarily to help CodeCombat finish its new classroom offering, which launches today after extensive beta testing by more than 25,000 students in grades 3-12.

CodeCombat was designed to make learning to code

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Millendo Therapeutics snags $62 mln Series B


This post is by Iris Dorbian from PE Hub Blog: Venture Capital Deals


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Ann Arbor, Michigan-based Millendo Therapeutics (formerly known as Atterocor Inc), a biopharmaceutical company focused on treating orphan and specialty endocrine diseases, has raised $62 million in Series B funding. New Enterprise Associates Inc led the round. Other investors included Roche Venture Fund, Adams Street Partners, Altitude Life Science Ventures, Longwood Fund, Renaissance Venture Capital Fund, Frazier Healthcare Partners, Osage University Partners and 5AM Ventures.

PRESS RELEASE

ANN ARBOR, Mich.–(BUSINESS WIRE)–Millendo Therapeutics, Inc., today announced that it has entered into an exclusive license agreement with AstraZeneca for the worldwide development and commercialization rights to AZD4901, a product candidate for the treatment of polycystic ovary syndrome (PCOS), the most common endocrine disease in women. The Company will develop the compound as MLE4901. In addition, Millendo has secured a $62 million Series B investment led by New Enterprise Associates, Inc. Previously known as Atterocor, Inc., Millendo is a biopharmaceutical company

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Credit Suisse’s (CS) CEO Brady Dougan on Q2 2014 Results – Earnings Call Transcript


This post is by SeekingAlpha.com from Transcripts from Seeking Alpha


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    <p>Credit Suisse Group (NYSE:<a href='http://seekingalpha.com/symbol/cs' title='Credit Suisse Group AG'>CS</a>)</p> <p>Q2 2014 Earnings Conference Call</p> <p>July 22, 2014 02:30 ET</p> <p/> <p>

Executives

Christian Stark – IR

Brady Dougan – CEO

David Mathers – CFO

Analysts

Daniele Brupbacher

Kinner Lakhani – Citi

Michael Helsby – Bank of America

Fiona Swaffield – RBC

Stefan Stalmann – Autonomous U.S.

Jeremy Sigee – Barclays

Christopher Wheeler – Mediobanca

Jernej Omahen – Goldman Sachs

Dirk Becker – Kepler Cheuvreux

Andrew Lim – Societe Generale

Andrew Simpson – Bank of America

Presentation

Christian Stark

Good morning and welcome to our second quarter results call. Before we begin, let me remind you to take note of the important disclaimer on slide 2, including the statements on non-GAAP measures and Basel III disclosures. I now turn it over to Brady Dougan, our CEO.

Brady Dougan

Great. Thank you very much Christian. Welcome everybody and thanks for joining our second quarter 2014 earnings call. I’m joined

                                                                                                                                                                                                                                                                                                                                                                             <br/><a href='http://seekingalpha.com/article/2329635-credit-suisses-cs-ceo-brady-dougan-on-q2-2014-results-earnings-call-transcript?source=feed'>Complete Story &raquo;</a>

DLJ Merchant Banking Partners spins out from Credit Suisse


This post is by Angela Sormani from PE Hub Blog: Buyout Deals


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DLJ Merchant Banking Partners, Credit Suisse‘s mid-market leveraged buyout business, has spun off into an independent advisory firm, aPriori Capital Partners, established by the existing DLJ MBP management team led by Colin Taylor and Susan Schnabel. aPriori Capital will manage the DLJ Merchant Banking Partners III, L.P. and DLJ Merchant Banking Partners IV, L.P. private equity funds (together with related vehicles, the MBP Funds), collectively representing approximately $2 billion of value across 22 portfolio companies as of December 31, 2013.

PRESS RELEASE

Credit Suisse today announced that DLJ Merchant Banking Partners (“DLJ MBP”), the bank’s mid-market leveraged buyout business, has spun off into an independent advisory firm, aPriori Capital Partners L.P. (“aPriori Capital”), established by the existing DLJ MBP management team led by Colin Taylor and Susan Schnabel.

aPriori Capital will manage the DLJ Merchant Banking Partners III, L.P. and DLJ Merchant Banking Partners IV, L.P. private equity funds (together with related vehicles, the “MBP Funds”), collectively representing approximately $2 billion of value across 22 portfolio companies as of December 31, 2013. Colin Taylor and Susan Schnabel, Co-Heads of DLJ MBP, will continue to manage the MBP Funds and lead aPriori Capital. All other investment professionals comprising the DLJ MBP management team are joining aPriori. As the new general partner and investment manager of the MBP Funds, aPriori is expected to be a strong platform for the DLJ MBP team to manage and maximize the value of the MBP Funds as well as raise capital in the future. The new firm will continue to operate from offices in New York, Los Angeles and London.

Nicole Arnaboldi, Vice Chairman of Credit Suisse’s Asset Management business, said, “We are pleased to have completed this spin-off and are grateful for the efforts and performance of the team over many years at DLJ and Credit Suisse. We wish aPriori Capital much success in the future.”

“The team is excited by the opportunity to establish an independent fund advisory business and a new platform for the future. We appreciate the strong support we have received from our investors throughout this transition and in particular would like to thank Credit Suisse for their partnership and support over the past 14 years,” said Colin Taylor and Susan Schnabel, Co-Heads of aPriori Capital.

This spin-off is part of Credit Suisse’s previously announced divestment plans.

Credit Suisse AG
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). As an integrated bank, Credit Suisse is able to offer clients its expertise in the areas of private banking, investment banking and asset management from a single source. Credit Suisse provides specialist advisory services, comprehensive solutions and innovative products to companies, institutional clients and high net worth private clients worldwide, and also to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 46,000 people. The registered shares (CSGN) of Credit Suisse’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

aPriori Capital Partners
aPriori Capital Partners is a leveraged buyout fund advisor that completed its spin-out from Credit Suisse on 31 March 2014. Formerly known as DLJ Merchant Banking Partners, the firm is focused on mid-market opportunities in the US and Europe and manages the DLJ Merchant Banking Partners III, L.P. and DLJ Merchant Banking Partners IV, L.P. private equity funds. These funds collectively represent approximately $2 billion of value across 22 portfolio companies as of December 31, 2013. The firm is headed by former DLJ Merchant Banking co-heads Colin Taylor and Susan Schnabel and operates from offices in New York, Los Angeles and London.

Cautionary statement regarding forward-looking information
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, in the future we, and others on our behalf, may make statements that constitute forward-looking statements. Such forward-looking statements may include, without limitation, statements relating to the following:

•our plans, objectives or goals;
•our future economic performance or prospects;
•the potential effect on our future performance of certain contingencies; and
•assumptions underlying any such statements.
Words such as “believes,” “anticipates,” “expects,” “intends” and “plans” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. We do not intend to update these forward-looking statements except as may be required by applicable securities laws. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include:

•the ability to maintain sufficient liquidity and access capital markets;
•market and interest rate fluctuations and interest rate levels;
•the strength of the global economy in general and the strength of the economies of the countries in which we conduct our operations, in particular the risk of continued slow economic recovery or downturn in the US or other developed countries in 2012 and beyond;
•the direct and indirect impacts of continuing deterioration or slow recovery in residential and commercial real estate markets;
•adverse rating actions by credit rating agencies in respect of sovereign issuers, structured credit products or other credit-related exposures;
•the ability to achieve our strategic objectives, including improved performance, reduced risks, lower costs, and more efficient use of capital;
•the ability of counterparties to meet their obligations to us;
•the effects of, and changes in, fiscal, monetary, trade and tax policies, and currency fluctuations;
•political and social developments, including war, civil unrest or terrorist activity;
•the possibility of foreign exchange controls, expropriation, nationalization or confiscation of assets in countries in which we conduct our operations;
•operational factors such as systems failure, human error, or the failure to implement procedures properly;
•actions taken by regulators with respect to our business and practices in one or more of the countries in which we conduct our operations;
•the effects of changes in laws, regulations or accounting policies or practices;
•competition in geographic and business areas in which we conduct our operations;
•the ability to retain and recruit qualified personnel;
•the ability to maintain our reputation and promote our brand;
•the ability to increase market share and control expenses;
•technological changes;
•the timely development and acceptance of our new products and services and the perceived overall value of these products and services by users;
•acquisitions, including the ability to integrate acquired businesses successfully, and divestitures, including the ability to sell non-core assets;
•the adverse resolution of litigation and other contingencies;
•the ability to achieve our cost efficiency goals and cost targets; and
•our success at managing the risks involved in the foregoing.
We caution you that the foregoing list of important factors is not exclusive. When evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties and events, as well as the information set forth in our Annual Report 2012 under “Risk factors” in the Appendix.