Kohlberg Kravis Roberts has acquired a 24.9 percent stake in credit-oriented hedge fund BlackGold Capital Management. Financial details of the transaction were not disclosed. BlackGold specializes in energy and hard asset event-driven strategies while investing throughout the capital structure. KKR made the investment from its balance sheet and not through its funds.
TMF Group is to purchase KCS Limited from UCL Asia Partners. The business is a pan-Asian corporate services provider specialising in corporate accounting, corporate secretarial and payroll services.
Susquehanna Growth Equity has added Ben Weinberg to its team as a director. Prior to joining SGE, Weinberg was a principal at Element Partners where he was responsible for growth equity investments in technology and technology-enabled service companies serving industrial markets.
The Abraaj Group has acquired a majority stake in Polyclinique Taoufik. Based in Tunis, Clinique Taoufik is a private healthcare institution.
Beringea has backed Chargemaster, a provider of electric vehicle charging infrastructure. The investment will be used to strengthen Chargemaster’s position in the UK market and fund expansion into the European EV charging market.
Phlexglobal has been acquired by Bridgepoint Development Capital from Inflexion. UK-based Phlexglobal is a provider of technology-enabled document management solutions and other support services to the global clinical research market. The company has offices in Amersham, UK and Philadelphia, US and employs 230 people.
Canadian healthcare-focused private equity firm Persistence Capital Partners (PCP) has become a minority shareholder in Diagnos Inc (TSXV: ADK) following the completion of Diagnos' merger with Warnex Inc, a PCP portfolio company. PCP has assumed a 13.76 percent interest in Diagnos, which is a Brossard, Québec-based provider of data mining and consulting services and a designer of data analytics software for healthcare and natural resources industries. PCP also holds warrants to purchase common shares of the company. Based in Montréal, PCP is currently raising its second fund, Persistence Capital Partners II LP.
Canadian specialty finance firm Difference Capital Financial has objected to an announcement by portfolio company Benev Capital Inc (TSX-V: BEV) that it will buy royalties from Franworks Franchise Corp for about $103 million. Difference Capital said the announcement did not reflect the unanimous recommendation of the board of directors, as directors did not include its nominees. The firm also said it is "skeptical as to the fairness of the process" that led to the transaction. Benev has responded, saying the deal was finalized before recent board changes, was properly processed, and enjoys the support of other shareholders.
Z’Tejas Southwestern Grill, a portfolio company backed by KarpReilly, has hired Mastodon Ventures to advise on strategic alternatives, two sources said. This could include a sale, the sources said.
Z’Tejas Southwestern Grill, a portfolio company backed by KarpReilly, has hired Mastodon Ventures to advise on strategic alternatives, two sources said.