Daily Review

 

CITIC Capital is raising a new $2b investment fund.

 

Pension Fund LACERA commits $100m to Lilly Asia's fifth biosciences fund.

 

SERgroup is a European Enterprise Content Management solutions software company based in Bonn, Germany. Underlining their commitment to continuity, the selling shareholders will retain a significant minority stake in SER. Further details were not disclosed. The transaction has been approved by the relevant antitrust authorities.

 

Kurt-Werner Sikora, spokesman for SER‘s management board, said: "Carlyle will be an excellent partner for the continued development of SER, and the new management appointments represent the next step in our succession planning. Carlyle's success in the software sector means the team will bring relevant expertise to the company."

 

FC Internazionale Milano and LionRock Capital reached an agreement with International Sports Capital HK to acquire their 31% shares in the Club. Thus, LionRock Capital becomes the new minority shareholder in Inter. Financial terms were not disclosed.

 

"We are very optimistic about the business development prospects of all sports-related activities and with over 110 years of history and global influence in the football area, FC Internazionale Milano has exciting future development potential. LionRock Capital will fully support Inter's key objective to make the Club one of the world's top football clubs both on and off the pitch," said Daniel Kar Keung Tseung, Founder and Managing Director of LionRock Capital.

Cairngorm Capital Partners' subsidiary, MJ Wilson Group acquired Support Instrumentation. This will accelerate MJ Wilson's strategic ambitions for growth and strengthen its position within the process and instrumentation market. Financial terms were not disclosed.

 

This transaction is highly complementary and strategically important. It offers MJ Wilson the opportunity to increase market share, strengthen its presence in the South East and broaden the industries that it serves, allowing it to scale its business and expand customers' experience. Steve Hopkins, SIL's founder and managing director, will remain with the business, working with MJ Wilson's Managing Director, Rob Beveridge.

 

This investment was led by Amit Thaper, Investment Director at Cairngorm Capital, who explained, "The acquisition of SIL is highly strategic for M J Wilson, and provides access to key brands within the process and instrumentation industry. We are delighted to partner with Steve Hopkins and continue to invest in technically focused MRO distribution businesses as we scale our national group."

 

MJ Wilson and Cairngorm Capital were advised on this transaction by Mazars and Browne Jacobson. KBS Corporate and Gateley advised SIL shareholders.

Transporeon Group, a leading global cloud-based business network for industrial logistics, today announced that Hg has entered into a definitive agreement to acquire a majority interest in the company from existing investor TPG Capital, the private equity platform of global alternative asset firm TPG. Terms of the transaction are not being disclosed.

 

"In Transporeon we saw an opportunity to partner with a strong management team to invest in a company that was well-positioned to emerge as a leader in the rapidly growing supply chain technology space, a sector that we've been closely following for many years," said Malte Janzarik, Partner at TPG Capital. "It has been a pleasure working with the entire Transporeon team and we wish them all the best for the future."

"Staples, which is owned by the private-equity firm Sycamore Partners, will establish a firewall separating Staples' business-to-business sales operations from Essendant's wholesale business," the regulator said in a statement.

 

Barclays, Morgan Stanley and Kirkland & Ellis advise Sycamore and Staples. Citigroup and Skadden Arps Slate Meagher & Flom advise Essendant.

The buyout firm's fundraising hit its "hard cap" limit for Thoma Bravo Fund XIII, with commitments from investors exceeding the maximum size set for the fund.

 

"It was as quick fundraising as we've had for the last four funds. We launched the fund in March and after six months we were oversubscribed," Orlando Bravo, firm's managing partner, said in an interview.

 

CITIC Capital, the flagship investment arm of Chinese financial conglomerate CITIC Group, is raising a new $2bn fund to bolster its ability to do more deals, its chairman and chief executive said. The investment firm is also raising a separate fund that will invest in distressed assets in China, mainly in the real estate sector, for which details and target size haven't been firmed up yet.

"We have started a new fund this year which will close sometime soon. So we will have ample dry powder to do new deals," Zhang YiChen said.