UK / Ireland
TA exits Merian to Jupiter for £370m
Merian had AUM of ТЃ22.4bn as at 31 December 2019 and reported EBITDA of ТЃ92.8m for 2018
TCV leads $500m round for Revolut at $6bn valuation
TCV is currently investing from its TCV X fund, which closed on $3bn and invests $75-150m
Wells Fargo in $28m series-B for Elliptic
WFSC joins a group of existing investors that committed to the round in September 2019
CVC et al. re-up in Pension Insurance Corp via £750m capital raise
CVC Strategic Opportunities I deploys ТЃ130.6m for a 17.4% shareholding
ECI scores 3.7x on ATG sale to TA
Mobeus also fully realises its investment, having backed ATG since 2008
AnaCap to acquire Wealthtime
Mill will join as CEO, with Denning and Easton installed as chief operating officer and finance director respectively
ABN Amro Ventures in $80m round for Fenergo at $800m valuation
ABN Amro Ventures and strategic investor DXC take a 10% stake in the company
Q4 Barometer: Continued buyout bonanza tops record-breaking year
Private equity investors completed 807 deals in Q4 2019, tipping the year into record-breaking territory
KKR closes Global Impact Fund on $1.3bn
Fund targets lower-mid-market companies in the Americas, Europe and Asia, which contribute to sustainable development
August Equity Partners V closes on £300m, acquires Air IT
Fund held a first close in December 2019 on almost ТЃ200m and closed on its hard-cap of ТЃ300m
ICG mid-market fund makes first investment with Pageant deal
Sale price discussed in negotiations was ТЃ100-150m, according to a report by Betaville
Simpson joins Campbell Lutyens as general counsel
Kate Simpson has previous experience with Proskauer Rose and was also a partner at Kirkland & Ellis
Angel CoFund appoints Octopus's Whitehead and Cole
Alliott Cole of Octopus Venture will retain his role as CEO of the venture capital firm
Verdane acquires Eden portfolio
Deal is the first in the UK from Verdane Capital's tenth fund, which closed on SEK 6bn in January 2019
Temasek takes minority stake in FNZ
FNZ expects to benefit from the LP's presence in Asia, as it plans to grow its business there
Lakestar leads $20m for Impala
Founded in 2016, Impala is a London-based company that builds APIs to connect with hotel systems
Mobeus sells Biosite to Assa Abloy
Unquote understands the deal value is ТЃ25-50m and that the company is EBITDA positive
Bayside promotes Scotland to co-head of special situations debt
Andrew Scotland will take his position alongside HIG Bayside co-head and managing director Duncan Priston
Charterhouse-backed Tarsus acquires Unfiltered Experience
GP's tenth fund acquired Tarsus in 2019 in a deal that valued its equity at ТЃ552m
ESO takes minority stake in Arcus
Second transaction completed from ESO's seventh institutional special opportunities fund
Squire Patton Boggs hires three in PE team
Squire Patton Boggs' UK private equity team is led by corporate partner Paul Mann
Mercer closes Private Investment Partners V on $2.7bn
PIP V consists of a US vehicle for US investors and a Luxembourg vehicle for non-US investors
Direct lenders eye secondaries market for first-gen funds
Several European direct lenders are speaking to secondaries advisers about running processes on older vintage funds
CBPE exits ABI Holiday Homes
For the year ending in August 2018, ABI reported operating profit of ТЃ15.5m from revenues of ТЃ117.8m