Financials
Palamon, Corsair in £165m dividend recap for Currencies Direct
GPs reportedly mandated William Blair in December 2020 to explore strategic options
Main Capital acquires Foconis
GP plans to support add-ons for the financial services software platform as part of its growth
VCs in $170m round for trading platform Bitpanda
According to Unquote Data, the round is the largest ever recorded for an Austrian company
Ion, GIC launch €1.86bn takeover for Cerved
Cerved will be de-listed from the Italian stock exchange if the offer is successful
FSI et al. sell Cedacri to Ion for €1.5bn
FSI intends to reinvest in Cedacri as a minority shareholder, doubling the capital deployed in 2017
Quantifying PE's appetite for recurring revenue models
Buyouts in sectors where recurring revenue models are predominant went from 8% of European volume in 2010 to 22% in 2021 to date
Inflexion invests in DR&P Group
GP is acquiring a majority stake in the insurance broker via Inflexion Enterprise Fund V
Synova scores 4.5x on sale of Fairstone to TA
UK-based IFA consolidation platform is the first exit for Synova's third fund
IK, ICG to acquire minority stake in Norwegian firm Formue
Deal reportedly values the company at €292m
OCI invests £13m in Dexters
OCI's liquid resources that are available for future deployment are estimated to be £176m
IK, Luxempart invest in Eurazeo's IM Global Partner
Eurazeo will remain the controlling shareholder in the business and continue to actively support the company
Moore Strategic Ventures, Rovida et al. in $120m round for Blockchain.com
Company has raised $190m since being founded in 2011
Hellman & Friedman sells Finanzcheck to VC-backed Smava
Acquisition of the consumer finance platform is financed by Smava's VC investors, including Earlybird
Tikehau launches SPAC to invest in financial services sector
Tikehau sponsors the vehicle in partnership with Financière Agache, Jean-Pierre Mustier and Diego De Giorgi
Sovereign's Acolin bolts on Fundbase
Swiss fund service platform is planning further add-ons in key European financial centres
Epiris-backed James Hay to take Nucleus private for £145m
James Hay is using financing made up of equity drawn down from the Epiris Funds and debt from Ares
AnaCap sells Equa Bank to Raiffeisen Bank
GP says the digital bank had grown its deposit base and loan book by more than 12x and achieved 36x growth in revenues
Oaktree invests £200m in RedCat
It is expected that the company will raise an additional £300m in debt, according to the Daily Telegraph
Fasanara Capital leads $48m round for Scalapay
Baleen Capital and Italian family office Ithaca Investments also take part in the investment
Cathay et al. in €49m series-B for Alma
Company intends to use the fresh capital to consolidate its presence in the French market and expand across Europe
Pollen Street and QIC invest £200m in Markerstudy
Deal marks the third investment in the insurance sector and Pollen Street's second investment from PSC IV
Carlyle-backed Hurst Point acquires Hawksmoor
Hurst Point Group was established in 2019 to facilitate investment by Carlyle in UK wealth management
Livingbridge sells Broadstone to ICG
Broadstone generated EBITDA of £646,000 from revenues of £9.5m in the year ending on 30 June 2019
Inflexion exits Bollington Wilson to trade
GP formed the company by merging two insurance brokers in 2017, investing via Inflexion Buyout IV