Intermediate Capital Group portfolio company Pageant Media has acquired hedge fund database Eurekahedge for $8m.
This is Pageant's first deal since February 2020 when majority control was acquired by ICG, valuing the publisher at an estimated £145m – representing a multiple of 15x EBITDA.
The acquisition is expected to enhance the publisher's focus on alternative asset managers.
The vendor is Mizuho Bank, which acquired the company in 2011. It paid three times the amount it is now selling it for, according to Flash & Flames. In the original deal, the company's founder retained 5% of shares.
Based in Hong Kong, Eurekahedge has annual revenues of $5m and an operating profit of around $1m. The company, which was founded in 2001, offers a database of information on hedge funds and offers the Eurekahedge fund indices.
Pageant Media – Charlie Kerr (CEO, founder).
Second vehicle will be larger than its predecessor, which closed on €843m in March 2010
Dieter von Holtzbrinck Ventures (DvH Ventures) has announced the launch of its first Digital Health fund, which has held a first close on €60m.
Sale ends a three-year holding period for Astorg, which acquired a 75% stake in the company from Xenon PE
Acquisition of Germany-based x-ray equipment and software was backed by senior debt from ApoBank