Chris Witkowsky
Varonis Systems, a data security software business backed by Accel Partners, Evergreen Venture Partners, PItango Venture Capital and EMC Corp., has filed for an initial public offering. Varonis plans to list on the Nasdaq. Morgan Stanley, Barclays, Jefferies and RBC Capital Markets will be joint book runners for the offering, and Needham & Company will be co-manager.
J. Michael Evans, a vice chairman and global head of growth markets at Goldman Sachs, has decided to retire at year's end after more than two decades. Evans will become a senior director after his retirement. Evans joined Goldman Sachs in 1993 in the investment banking division in London and was named partner in 1994.
Finnish institution The State Pension Fund (VERS), which has about €16 billion of assets under management, is searching for a fund of funds to which it can commit about €100 million to invest in emerging markets private equity managers, according to documents provided to sister publication peHUB by the system.
The AIFMD, a complex regulatory regime that regulates fund managers’ ability to raise money from limited partners in Europe, may prove to be a huge obstacle to both US GPs and European LPs.
Power Capital Holdings has formed a firm focused on the global power sector called Power Capital Partners. The firm has been launched in partnership with Hunt Power Capital Partners, owned by Hunt Consolidated, a part of a group of companies managed by the Ray L. Hunt family. Power Capital Partners' executive management team includes Jeffrey Stein, Mitchell Posner and Jeff Hunter.
Fenway Partners-backed Preferred Freezer Services has entered a joint venture to build and operate cold chain logistics businesses throughout China. The company, which builds temperature controlled warehouses, has formed the joint venture with Sinotrans Limited, a logistics service provider in China, affiliates of Yang Ming Transport Corporation, a Taiwanese global cargo services provider and the Yida Group, an urban design and real property developer.
The Russia-China Investment Fund, a private equity equity fund focusing on investments related to the rise of the middle class in Russia, China and former countries of the Soviet Union, has acquired a stake in a forestry company in Russia's far east. The investment, for a 42 percent stake, will help develop the largest "center for deep wood processing" in the region.
To close out a brisk autumn week, First Read explores New Jersey Senator-elect and noted private equity fan Cory Booker's new role, America's increasing unwillingness to pay off its debt and China's strong economic growth.
The Blackstone Group has raised a total of $4 billion for its tactical opportunities business after collecting an additional $703 million during the quarter.
The Riverside Company has merged its portfolio company Alchemy Systems, which provides training for food industry employees, with Catalyst Awareness, which produces employee awareness communications programs for retailers. Deerpath provided financing for the transaction, Jones Day served as Riverside’s legal counsel, Deloitte advised Riverside on financial due diligence and West Monroe Partners advised on technology diligence.