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Siris Capital Completes Sale of Intralinks Holdings in $1.5B Deal
WINDSOR, Conn., Nov. 16, 2018 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today announced it has completed the acquisition of Intralinks Holdings, Inc. Intralinks is a leading financial technology provider for the global banking, deal making and capital markets communities. Intralinks facilitates strategic initiatives including mergers and acquisitions, capital raising and investor reporting by enabling and securing the flow of information. Intralinks also provides the leading investor communications platform for private equity and hedge fund professionals with the largest hosted community of general and limited partners for the alternative investments industry. Intralinks brings to SS&C over 800 employees globally and more than 4,000 clients including banks, alternative and blue chip corporate clients. “We are excited about the technology and expertise that Intralink’s brings to SS&C,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “Intralinks and SS&C share
Best Practices Guide for Marketing Reviews
1. Marketing and Advertising Rules Rule 206(4)-1 (the “Advertising Rule”) under the Investment Advisers Act of 1940 (the “Advisers Act”) prohibits the use of fraudulent or misleading advertising or marketing material. In order to ensure that marketing materials comply with the Investment Advisors Act’s anti-fraud rules and SEC no-action letters and guidance, investment advisors should have in place strong supervisory and compliance policies and procedures. Because the anti-fraud rules apply to all investment advisors, not just SEC registered advisors, it is important for all investment advisors to implement similar policies and procedures governing marketing materials. Under SEC Rule 156, private fund advertisements must not contain information that is materially misleading, depending on an evaluation of the context in which statements involving material facts are made. Marketing material must include any possible risks or limitations with equal prominence as possible benefits of products or services. It must not make exaggerated or
One Rock Portfolio Company to Acquire CastFutura S.p.A.
Itasca, IL — October 26, 2018 – Robertshaw, a global engineering and manufacturing company focused on controls and solutions for residential white goods and commercial appliances, announced today that it has signed a definitive agreement with Star Capital SGR and other shareholders to acquire 100%of CastFutura S.p.A., a leading provider of combustion, safety and ignition products for cooking and heating applications. Since its founding in 1969, CastFutura has built a strong reputation and track record for offering innovative and reliable products for gas systems including burners, thermocouples, spark plugs, igniters and switch harnesses. “As part of Robertshaw’s growth strategy, the acquisition of CastFutura expands our cooking presence in Europe, South America and the Middle East and reinforces Robertshaw’s commitment to our customers and to the markets that we serve,” said Mark L. Balcunas, CEO and President of Robertshaw. Marco Bonfigli, CEO of CastFutura, said “We are excited to be joining
NAIC to Honor Former Illinois Senate President Emil Jones Jr., Ariel’s John Rogers and Others at Conference
CHICAGO, October 24, 2018 – The National Association of Investment Companies (NAIC) announced today that former Illinois Senate President Emil Jones Jr. and John W. Rogers, Jr., Chairman, CEO & Chief Investment Officer of Ariel Investments, will be among those honored during the NAIC Annual Private Equity & Hedge Fund Conference, the largest gathering of diverse-owned private equity firms and hedge funds. Titled The Crossroads of Commerce and Capital, the conference will take place October 24–25, 2018. Demonstrating its commitment to diversity, William Blair will host the conference at its global headquarters in Chicago. The event will bring together leading general partners, chief investment officers, limited partners, and industry decision-makers for networking, identifying opportunities for collaborative investment, and the sharing of ideas. Capital allocators with approximately $1 trillion in assets to invest will be in attendance. The Hall of Fame Award will be presented to Mr. Jones for his efforts
Neuberger Berman Acquires Insurance-Linked Strategies Manager and Affiliated Reinsurer
New York, November 1, 2018 – Neuberger Berman has broadened its alternative investment platform through the acquisition of specialist asset manager Cartesian Re, which with its affiliate Iris Re, manages more than $1 billion in assets under management (AUM) focusing on the insurance-linked strategies (ILS) asset class. Cartesian Re was developed as a portfolio company of Cartesian Capital Group, which will work with Neuberger Berman to deliver ILS capabilities to clients globally. The addition of Cartesian Re illustrates Neuberger Berman’s continued focus on diversifying its alternative capabilities, particularly with strategies offering returns uncorrelated with financial markets. Cartesian Re will be renamed NB Insurance-Linked Strategies and its affiliated Bermuda reinsurer, Iris Re, will be renamed NB Reinsurance Ltd. Led by Managing Partner Peter Yu, Cartesian Capital Group is a global private equity firm with $3 billion in committed AUM. In 2009, Cartesian Capital Group founded Cartesian Re as an ILS manager
Pharos Capital Recapitalizes Post-Acute Care Provider Charter Health Care Group
DALLAS and NASHVILLE, Tenn., Oct. 30, 2018 /PRNewswire/ — Pharos Capital Group, LLC (“Pharos”), a private equity firm based in Dallas and Nashville, announced it has made a majority investment in Charter Health Care Group (“Charter”), a leading provider of post-acute care services based in Southern California. Founded in 2006 by industry veterans Fred Frank and Sabina Del Rosario, Charter offers a variety of post-acute care programs including hospice, home health, transitional care, and palliative care services. Terms of the transaction were not disclosed. The transaction forms the basis for Pharos’s post-acute care platform, which will focus on building and acquiring high-quality hospice and home health companies that manage healthcare needs across the post-acute care continuum while also working to improve the patient experience and lower the costs of care for those patients. “We are excited to establish a platform in the rapidly growing post-acute care segment of the healthcare
Clearlake Capital-Backed Wheel Pros Acquires ReadyLIFT
SANTA MONICA, CA and GREENWOOD VILLAGE, CO – October 29, 2018- Wheel Pros, a leading designer, marketer, and distributor of branded automotive aftermarket wheels, performance tires, and accessories, today announced that it has acquired ReadyLIFT, a leading designer and distributor of suspension, lift, and leveling kits. Financial terms of the transaction were not disclosed. ReadyLIFT designs, manufactures, and distributes suspension leveling products and lift kits for the truck, jeep, and sport utility vehicle markets. It also offers accessories through its AMI Styling brand, as well as value-branded suspension kits through its RuggedLift brand. Wheel Pros currently serves more than 10,000 retailers with a global network of 33 distribution centers spanning North America and Australia. Founded in 1995, Wheel Pros has a portfolio of 12 proprietary brands with more than 300 custom wheel styles, including some of the most recognized designs in the industry. “Suspension, lift, and leveling kits are a
Best Practices Guide for Solicitation of Investors
PRIVATE PLACEMENTS Advisors to private funds engage in the solicitation of the private placement of interests in a fund. Interests in private funds are not registered under U.S. or foreign securities laws because of the exemption offered by Rule 506 of Regulation D. Previously, private funds were prohibited by Rule 506 from publicly offering and conducting general advertising or general solicitation in offering and selling the private fund’s securities. In 2014 the JOBS Act directed the SEC to remove the prohibition on general solicitation provided that sales are limited to “accredited investors” that issuers have taken reasonable steps to verify. Investment advisors are permitted to engage in private or general solicitation with respect to private placement of interests in a fund. The type of solicitation used should be determined and maintained throughout the capital raise process. Private Solicitation Under the private solicitation rules, investment advisors are prohibited from soliciting investors
Wicks Group Portfolio Company Acquires IdentityForce Inc.
August 15, 2018 EZShield, a portfolio company of The Wicks Group (“Wicks”) and the leader in digital identity protection and resolution, today announced it has acquired IdentityForce, the #1 rated identity theft protection provider for businesses and consumers. The acquisition expands EZShield’s identity protection ecosystem by nearly 50 percent, providing partners in every industry, businesses of all sizes, and consumers with the most secure capabilities and rapid restoration services. The pervasiveness of cyber fraud incidents and data breaches is estimated to cost $6 trillion annually by 2021. “IdentityForce is a trusted, top-ranked leader in identity theft protection and their business is comprised of a highly customer-centric team of experts who are committed to combatting identity theft,” said Dale Dabbs, President and CEO of EZShield. “Whether it’s EZShield’s focus on exceptional customer service or robust cybersecurity tools, or IdentityForce’s award-winning mobile app and Social Media Identity Monitoring features, our companies bring
Palladium Equity Partners Acquires Kymera International
October 10th, 2018 New York and Raleigh, NC, October 11, 2018 – Palladium Equity Partners, LLC (along with its affiliates, “Palladium”), a private investment firm with over $2.5 billion in assets under management, today announced that one of its affiliated private equity funds has acquired Kymera International (ACuPowder International, ECKA Granules and SCM Metal Products, collectively, “Kymera” or the “Company”), a leading global specialty materials company, from Los Angeles-based private investment firm Platinum Equity. Terms of the transaction were not disclosed. Founded in the late 1800’s, the Kymera group of companies produces a variety of specialty materials, powders, pastes and granules used in a wide range of metallurgical, chemical and industrial processes. Many of the Company’s products are custom developed for specific customer applications in a variety of end-markets, including chemical, specialty auto, additive manufacturing, general industrial, mining, and aerospace, among others. The Company is headquartered in Research Triangle Park,