Use of Add-On Acquisitions in PE Is Likely to Continue
JD Supra: Mergers
MAY 30, 2024
Over the past several years, sponsors have increasingly relied on add-on acquisitions to increase the value of their portfolio company investments.
Online wholesaler Boxed acquired after filing for bankruptcy
TechCrunch: M&A
AUGUST 18, 2023
announced this morning its acquisition of Boxed.com and “other intellectual property portfolios and affiliates” in an all-cash transaction. In 2021, Boxed completed a reverse merger, acquiring Seven Oaks Acquisition in a $900 million SPAC deal in order to begin trading on the NYSE under the ticker symbol BOXD.
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DigitalOcean acquires cloud computing startup Paperspace for $111M in cash
TechCrunch: M&A
JULY 6, 2023
“We’re excited to expand our portfolio tailored to the world’s small- and medium-sized (SMBs) businesses and startups with simplified AI and machine learning offerings,” Spruill said in a press release. ” Paperspace was co-founded in 2014 by Daniel Kobran and Dillon Erb, graduates of the University of Michigan. .”
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Hopin, the struggling virtual conference unicorn, sells events and engagement units to RingCentral
TechCrunch: M&A
AUGUST 2, 2023
Coming off of a huge couple of years of business during the pandemic, in 2021, it was valued at nearly $7.7 Hopin has not raised any further money since 2021, and between then and now it has gone through multiple rounds of layoffs affecting hundreds of employees. Its customer list features Slack, VMware, UPS, Pepsi and many more.
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Madison Dearborn and Tornante Company sell TDS Gift Cards to Ziff Davis
PE Hub
FEBRUARY 22, 2024
The portfolio also included the Topps trading cards and collectibles business, which was sold to Fanatics in December 2021, and Bazooka Candy Brands, which was sold Apax Partners this past October. The post Madison Dearborn and Tornante Company sell TDS Gift Cards to Ziff Davis appeared first on PE Hub.
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Socure acquires identity verification startup Berbix for $70M
TechCrunch: M&A
JUNE 27, 2023
billion valuation during the heady fundraising days of late 2021 (and $100 million earlier in 2021), today announced that it has acquired identity verification service Berbix for $70 million in cash and stock transactions. Socure , the identity verification service that raised a massive $450 million Series E round at a $4.5
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Union Investment’s trading head Hock steps away from role to pursue digital asset aspirations
The TRADE
AUGUST 30, 2023
Hock has long been an advocate for institutional adoption of digital assets, confirming at TradeTech Europe 2021 that Union was exploring “the token economy” of which crypto was a part. Hock declined to comment.
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Thor Equities Group Completes Sale of Prime Logistics Asset in Chicago
Global Newswire by Notified: M&A
SEPTEMBER 22, 2023
22, 2023 (GLOBE NEWSWIRE) -- Thor Equities Group, a global leader in urban real estate development, leasing and management, today announced the sale of North I-55, a portfolio comprised of two industrial facilities including a 33,000 square-foot truck terminal and an 8.5-acre after acquiring it for $11.25M in 2021. Chicago, IL, Sept.
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IBM acquires Apptio from Vista for $4.6B in cash to double down on hybrid cloud services
TechCrunch: M&A
JUNE 26, 2023
“We are so excited to be joining IBM and combining our industry leading offerings with IBM’s global presence and strong portfolio across AIOps, automation and hybrid cloud offerings.” The first of these is that it underscores the ongoing consolidation around services for managing cloud deployments.
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VCT investment rose by 8% last year to £664m
Growth Business
AUGUST 23, 2023
However, VCTs shovelling in new cash into early-stage companies wasn’t necessarily a sign of confidence – rather a measure to keep portfolio companies abreast of inflation at nearly 9 per cent. Total sales of VCT supported companies totalled £18.2bn in 2022, growth of 54 per cent versus 2021. per cent.
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HKEX’s chief executive to step down with new succession plans in place
The TRADE
DECEMBER 15, 2023
Having held the role since May 2021, Aguzin will be replaced by Bonnie Yiting Chan, who will assume the role on 24 May 2024 for a term of three years. Before joining HKEX, she was a partner of Davis Polk & Wardwell from 2010 to 2019, where she oversaw a wide portfolio of clients in Hong Kong and across Asia.
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Kepler’s Ellipsis AM set to acquire Rothschild AM convertible bond business
The TRADE
APRIL 5, 2024
As part of the deal two Rothschild portfolio managers – Cristina Jarrin and Mikael Dauvert – will move to Ellipsis AM. Ellipsis AM’s convertible team currently comprises of four portfolio managers, with each one performing the role of trader alongside acting as portfolio manager.
5 senior UK tech jobs available this week
Growth Business
FEBRUARY 21, 2024
During 2020 and 2021, the sector saw growth of 42% and forecasts estimate that the industry’s value could be worth £2 trillion by 2032. In 2022, Britain’s tech industry was worth more than double that of Germany’s – and was almost five times larger than France and Sweden.
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4 fast-growing fintechs hiring now
Growth Business
JUNE 7, 2023
During 2021, Britain’s fintech industry attracted a record £9.5bn in investment – nearly half of all investments in Europe. per cent this year and achieved unicorn status in September 2021, having raised £61m in funding. Its lending portfolio of £4.7bn also continues to grow. View all open roles at GoCardless, here. #4
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Greening the Bottom Line: M&A Heats the Race for Sustainable Innovation
Sun Acquisitions
DECEMBER 16, 2024
For example, a renewable energy company looking to expand its portfolio might acquire a startup specializing in geothermal energy. In 2021, Siemens Mobility acquired a leading electric bus charging solutions manufacturer. M&A provides a shortcut for companies to acquire the missing puzzle piece.
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People Moves Monday: UBS, MEAG, Northern Trust Asset Management and more…
The TRADE
JUNE 24, 2024
Before joining MEAG in 2021, George worked at the multi-family office Novethos and previously held positions at various banks and private banks. He joined Northern Trust in 2007 and has since worked in senior roles across portfolio management, client management and sales.
Stoplight Accelerates SmartBear APIs, M&A
The Deal
SEPTEMBER 7, 2023
builds on its portfolio of technology for application programming interfaces, or APIs, a critical part of software development that lets applications talk to each other. For example, the 2021 purchase of BugSnag Inc. With the acquisition of Stoplight Inc. , SmartBear Software Inc. 22 purchase. “How are we going to manage them?
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Growth Equity: The Child Prodigy of Private Equity and Venture Capital, or an Artifact of Easy Money?
Mergers and Inquisitions
MARCH 13, 2024
Others would counter that growth equity’s rapid ascent was mostly due to the easy money that persisted between 2008 and 2021. Many of these firms use debt to fund deals, and they complete bolt-on acquisitions for portfolio companies. Most of these firms started out doing early-stage VC deals and still invest across all company stages.
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10 hottest insurtech startups in the UK
Growth Business
JANUARY 15, 2024
Founded in 2020 and located in Exeter, the start-up digitises commercial property portfolios and displays the risks a location offers. In 2021, it raised £400,000 in pre-seed funding. #10 The startup was founded in 2021 and offers products including employers’ liability, D&O and public liability.
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BNY and BlackRock collaborate on front-to-back mandate with AIA
The TRADE
JULY 12, 2024
The partnership was then extended in 2021 to give clients greater freedom of choice around middle-office services.
Ninety One trader to join Morgan Stanley
The TRADE
JULY 25, 2024
Nickalls joined Ninety One in 2013 as a client operations analyst, moving into a portfolio implementation role in 2015 and taking up his current role as fixed income trader in 2018. He was recognised as a Rising Star of Trading and Execution at Leaders in Trading in 2021.
Beyond the Data: No let-up on buy-side frustrations over EMS integration
The TRADE
JULY 4, 2024
The survey profiles buy-side respondents with hands-on experience of trading technology – a mix of traders, portfolio managers and technology personnel. In essence, there’s all to play for as providers continue to up their game and avoid falling behind the pack, with integration a potential key differentiator going forward.
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Behind the Buyouts: Solomon’s Leonhardt on Consumer M&A Resurgence
The Deal
OCTOBER 17, 2023
Direct-to-consumer businesses, darlings of the investor community in 2021, saw their techlike valuations plummet. portfolio company Birkenstock GmbH & Co. Inflation, supply chain disruptions and the rising cost of debt stopped consumer companies in their tracks last year. KG having an underwhelming start.
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How to Start a Venture Capital Firm – and Why You Probably Shouldn’t
Mergers and Inquisitions
JUNE 19, 2024
Before doing anything else, you must decide on your fund size and team size, which depend on your strategy and the number of portfolio companies you plan to invest in. To keep things simple, let’s assume that you want a portfolio of 25 startups and you plan to invest in seed rounds for an average of $2 million per startup.
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Cboe’s Natan Tiefenbrun takes on newly expanded role as president of North American and European equities
The TRADE
NOVEMBER 8, 2023
Tiefenbrun has held various roles across the industry, including leading the agency equities trading services across EMEA at Bank of America Merril Lynch before moving to Cboe in 2021 as head of European equities.
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Banking fraud cases grow to 13,530 in FY23, amount halved to Rs 30,252 cr
Business Standard - FInance
MAY 30, 2023
However, in terms of value, frauds have been reported primarily in the loan portfolio (advances category). A total of 9,097 frauds had taken place in 2021-22 involving Rs 59,819 crore. Frauds occurred predominantly in the category of digital payments (card/internet), in terms of number, said Reserve Bank's Annual Report 2022-23.
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The Collapse of Silicon Valley Bank: The Start of Great Financial Crisis 2.0?
Mergers and Inquisitions
MARCH 13, 2023
SVB’s deposits grew from ~$62 billion at the end of 2019 to $173 billion at the end of 2022, and its loan-to-deposit ratio went completely out of whack: Tech startups were flush with cash due to a ridiculous fundraising environment in 2020 – 2021, and they put the money they raised in the bank. billion loss on a $21 billion portfolio.
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Retail boost is driving volumes off-exchange, Liquidnet finds
The TRADE
JULY 6, 2023
Retail traders typically follow equity performance closely – a trend dating back to 2021. Despite retail flows not necessarily adding much in terms of available liquidity, Liquidnet noted that book depth, lower correlations and reduced volatility had improved for traders and portfolio managers. billion worth of purchasing.
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How the Growth of Private Credit is Impacting Private Equity
OfficeHours
AUGUST 25, 2023
For example, banks suffered from numerous hung deals in the 2021-2022 timeframe (Citrix, Twitter, and many others), which limited the flexibility banks had to underwrite new financings. During this time, deal activity remained limited, but private credit emerged to finance a smaller number of new deals. Are you preparing for the buyside?
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Keeping an aircraft carrier nimble in times of turbulence
The TRADE
OCTOBER 31, 2024
Raymond joined LGIM as its head of credit trading in 2019 when the asset manager was undergoing the process of splitting up its portfolio management and trading capabilities. Chicago is a very small community and so I knew most of the portfolio managers and management at LGIM America before I came over.
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Growth Business publishes UK VC directory
Growth Business
JUNE 22, 2023
This was a 7 per cent drop from 2021’s total equity figure, but more than any other year. One in five VC-backed companies go bust – New study finds 45 per cent of European VC portfolio companies underachieve, one in five go bust and one in 10 produce tenfold returns There are promising signs, though.
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UOB goes live as clearing member for LCH
The TRADE
OCTOBER 3, 2023
We will also benefit from LCH’s world class risk management solutions and the capital and margin efficiencies that it will enable across our rates and FX clearing activity.”
Trader of the Year Hedge Fund: Conversant Capital’s David Alfred
The TRADE
JANUARY 22, 2025
I was there through 2015, then Bank of America, before I joined Conversant Capital in early 2021. There’s a very healthy dialogue at all times at both the portfolio-level and the position-level. I started my career at Bear Stearns in 2001, then migrated to Credit Suisse in 2008. What workflows are ripe for more automation?
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How AI could elevate financial advisor performance
Accenture Capital Markets
OCTOBER 5, 2022
AI allows for the delivery of customized portfolios and client touchpoints at exactly the right time in the client’s life, in ways that human advisors would not be able to achieve on their own. Insights on advice were taken from the Wealth Management Consumer Report: The New State of Advice , published by Accenture in 2021.
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Covid-19 Impact on US Private Capital Raising Activity in 2020
InvestmentBank.com
MAY 26, 2021
Though to a significantly lesser degree than in the early months of COVID, look into the rest of 2021 and beyond features continued uncertainty in the debt market. Analysts are at odds about what to expect in the short- and long-term of 2021 and beyond. Retrieved March 14, 2021 from [link] [3] Middle Market Update Q2 2020 (2020).
“Dumb Money” Review: A Worthy Addition to the Classic Finance Movie Roster?
Mergers and Inquisitions
OCTOBER 4, 2023
And that is exactly what happened when I watched Dumb Money , the movie about the GameStop short squeeze in 2021 , the other day. I wrote about the GameStop short squeeze back when it happened in February 2021, and it turned into the most popular article of the year. I wrote many articles about it.
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Adroit Trading Technologies receives $15 million capital injection to scale distribution and development
The TRADE
FEBRUARY 6, 2024
Adroit’s offering is a single point of access, cross-asset, all-in-one tool for traders and portfolio managers active in cash and derivatives markets (often across tangled global account structures). Founded by Jaglan in 2014 focused on OTC solutions, Adroit has since expanded into EMS and achieved profitability in 2016.
Trading 59
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People Moves Monday: Goldman Sachs Asset Management, Liquidnet, Trumid and more…
The TRADE
FEBRUARY 26, 2024
He most recently served as global head of ETF product, having initially joined Goldman Sachs Asset Management back in 2017 to build out the US fund strategist model portfolio business. Ryan O’Connor left Goldman Sachs Asset Management and is set to join ETF provider Global X ETFs as chief executive on 8 April.
Christoph Hock accepts Lifetime Achievement Award at Leaders in Trading 2023
The TRADE
NOVEMBER 9, 2023
In 2015, the European asset manager unified its trading teams under one multi-asset trading desk as part of a strategic review, aimed at executing a greater percentage of orders sent by portfolio managers.
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Erste AM joins Clearwater Analytics’ buy-side community to drive business growth
The TRADE
MAY 14, 2024
Meanwhile, Clearwater PRISM is a data management and client reporting platform for firms that want a comprehensive view of their portfolios across multiple platforms and all asset types, according to the firm. “We Erste AM is a Central and Eastern European asset manager with €81.4
2024 Investment & Market Updates: How to Reverse a Painful Year with AI Hype and a Frenzied 2-Month Rally
Mergers and Inquisitions
JANUARY 3, 2024
My portfolio did “OK” (up 10% for the year), but it greatly underperformed the S&P 500 , which was up 24%. On the other hand, I was only down 9% in 2022 vs. a 19% drop for the S&P, so both the index and my portfolio are now back to “early 2022” numbers. I had way too much in cash (sometimes 20% or more!)
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Where to find fintech investment
Growth Business
NOVEMBER 23, 2023
Form Ventures Form uniquely supports its portfolio start-ups to understand and navigate public policy FPE Capital Businesses must demonstrate the following: a capable management team, strong presence in large markets, rapid growth potential, disruptive products or services and defensible growth margins with recurring revenues.
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How Merchant Banks Help Businesses Grow and Succeed
Razorpay
AUGUST 9, 2023
Portfolio Management Merchant banking companies provide portfolio management services to high -net-worth individuals and corporate investors. These services include a selection of securities, portfolio monitoring and review, advice on the rationalization of portfolios, and tax planning.
Banking 52
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Market Insights: Global Automotive Deal Volume Declines, Macro Challenges Continue – First Half 2023 Recap
Focus Investment Banking
JULY 28, 2023
In terms of quarterly performance, Q1 2023 mirrored the trends seen in Q4 2022, while Q2 2023 showed signs of improvement, albeit at a slower pace compared to 2021. After a record-breaking year in 2021, M&A activity remained relatively strong by historical standards during the first half of 2022.
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