PE HUB Second Opinion

In Second Opinion, Brussels remains on high alert as the subway and schools reopen, Google’s plan to accelerate the mobile web will go live early next year and even though the year is not over yet, 2015 is the hottest year in recorded history. Happy Thanksgiving!


Mirae buys Fairmont San Francisco Hotel for $450 mln

Mirae Asset Global Investments has acquired the Fairmont San Francisco Hotel for $450 million. The sellers included Oaktree Capital Management, Kingdom Holding Company and Woodridge Capital Partners. The hotel opened in 1907 and has 592 guest rooms and suites and over 55,000 square feet of conference and function space.


Vector Watch grabs $5 mln

Vector Watch, a wearable technology provider, has raised $5 million in funding. GECAD Group led the round with participation from other investors that included Catalyst Romania.

LPEQ appoints new CEO

LPEQ, the international association of listed private equity companies, has named Douwe Cosijn to succeed Andrea Lowe as CEO. The appointment becomes effective January 4, 2016. Cosijn is a former director of corporate affairs and head of investor relations at 3i.

Peak Rock buys Berner

Peak Rock Capital has acquired Berner Food & Beverage LLC, a maker of food products and beverages. No financial terms were disclosed.

SolarCity promotes Serra to president

Clean energy provider SolarCity Corp has promoted Tanguy Serra to president. Serra is a former vice president at TPG Capital. Also, current CFO Brad Buss is planning to retire in 2016. As previously reported by PE HUB, Silver Lake Kraftwerk agreed to invest $100 million in SolarCity.


Agility Fuel Systems taps ex-KPCB exec as CEO

Santa Ana, California-based Agility Fuel Systems, a maker of natural gas fuel systems for heavy duty vehicles in North America, has named Kathleen Ligocki as CEO. The appointment becomes effective December 3. Ligocki is a former operating partner at Kleiner Perkins Caufield & Byers.


PE HUB First Read

First Read kicks off the morning before Thanksgiving with news that Sony says it has now sold more than 30 million PlayStation 4s, Singapore is expected to add 37,600 millionaires a year through 2020 and Apple confirms it bought Faceshift, company behind Star Wars’ motion capture technology.

Passengers board a 42nd Street Shuttle subway train, wrapped with advertising for the Amazon series "The Man in the High Castle" in Manhattan, New York, November 24, 2015. REUTERS/Brendan McDermid

PE HUB Second Opinion

In Second Opinion, Fedex and TNT get the greenlight to merge, Canada’s plan to accept refugees reportedly excludes single men and Amazon decides that plastering New York City subways with Nazi symbols isn’t a good idea.


Abraaj exits Saham Finances

The Abraaj Group has sold its stake in African insurer Saham Finances. The buyers included Sanlam Group and Saham Group, the parent company of Saham Finances. No financial terms were disclosed.


Covata raises funding from Fidelity International

Covata has raised A$6.9 million in a private placement with Fidelity International. According to terms of the transaction, Covata will issue about 35 million shares of its company to Fidelity at A$0.20 per share. Based in Washington, D.C, Covata is a provider of data-centric security and end-to-end enterprise encryption solutions.


Greenhouse Software buys VC-backed Parklet

Greenhouse Software has acquired San Francisco-based Parklet, an employee onboarding and experience software company. Parklet’s backers included Storm Ventures, FundersClub and Greylock Ventures.

Alothon Group buys controlling stake in Grupo MPR

Alothon Group has acquired a controlling stake in Grupo MPR. No financial terms were disclosed. Grupo MPR is the owner of CNA, a Brazilian producer of alcohol-based cleaning products and related consumer goods and of Alcool Ferreira, a provider of industrial alcohol.


Harvest Power picks up $20 mln

Waltham, Massachusetts-based Harvest Power, a provider of organics management solutions, has raised $20 million in funding. True North Venture Partners, Industry Ventures and Generation Investment Management led the round. Also, Harvest has named Christian G. Kasper as CEO.


NewSpring provides $11 mln to SABG

NewSpring Capital has invested $11 million in Sock and Accessory Brands Global Inc. Headquartered in Advance, North Carolina, SABG is a hosiery and accessories design, product development and distribution company.