Chris Witkowsky
Wellspring Capital Management has acquired Swift Worldwide Resources, which supplies skilled manpower resources to the global oil and gas industry, from Gresham Private Equity. Swift's management team invested alongside Wellspring in the transaction. Financial details were not disclosed.
The University of Pittsburgh Office of Finance has formed a fund in the name of senior investment analyst Adam Obsenica that will support a student or recent graduate interested in finance, with funds going toward internships, tuition, conferences or other activities.
As we dance our way into the weekend, Second Opinion leaves you with news of the Lego Movie on its way, the overwhelming benefits of naps and friction building in the economic relationship between China and Brazil.
The Russian Direct Investment Fund has partnered with the Caisse des Dépôts International (CDC International) to launch the Russia-France Investment Fund. The fund will seek investments across a broad range of sectors and asset classes, including equity and debt securities, infrastructure and real estate in Russia and France.
OrbiMed has closed its OrbiMed Private Investments V with just over $735 million, including $36 million from the GP. Fund V will invest in all stages and sectors of the healthcare industry, with a focus on biopharmaceutical, medical device and diagnostics companies in North American and Europe.
European Capital Limited and American Capital received proceeds of $118.5 million from exiting their investment in Qioptiq, a global specialist in the photonics industry serving the commercial, defense and aerospace markets. The exit represents a 1.7x money multiple on their investment. The exit comes as Qioptiq's major shareholder, Arle Capital Partners, has sold 100 percent of its shares to Excelitas Technologies.
The Abraaj Group has sold Tunisian pharmaceutical company Opalia Pharma S.A. to Recordati, an international pharmaceutical company listed on the Italian stock exchange. Abraaj invested in Opalia in 2009 and the deal marks the firm's first realization in the Tunisian market.
Sheridan Legacy Group, a Chicago-based middle-market firm, has acquired Progenicare, which provides autologous stem cell therapies to orthopedic surgeons and hospitals in the western U.S, through a growth equity recapitalization.
As our week comes to a close, First Read brings you reports of a solar boom in Japan, concern over a bubble developing in the U.S. stock market and what happened when Cisco lost a $1 billion deal with Amazon.
Waterton Global Resource Management is approaching a second close on $600 million for its second mining and metals fund, which is targeting $750 million.