Golub Capital said Monday that it has provided a $67 million loan to PreCision Dermatology. The capital will be used to refinance PreCision Dermatology. Based in Cumberland, RI, PreCision Dermatology is a provider of skincare therapies. It is backed by Essex Woodlands Health Ventures, Frazier Healthcare Ventures, Longitude Capital Partners, Boston Millennia Partners, Novaquest Capital Management and Quaker Bioventures.
The Abraaj Group has realised its investment in Daniel O. Mercado Medical Center, a tertiary medical hospital based in the Philippines. Abraaj, through one of its Funds, invested in DMMC in September 2010 as the only institutional investor alongside the Mercado family.
Private equity firm JC Flowers has approached Britain's Lloyds Banking Group about a bid for the TSB business that was split from the part state-owned bank earlier this month, writes Reuters. Lloyds, which is now 32.7 percent-owned by the taxpayer after the government sold a 6 percent stake last week, has been working on a stock market listing for TSB next year.
BV Investment Partners has sold Butterfield Fulcrum to Mitsubishi UFJ Trust and Banking Corporation. The company provides full service fund administration including front, middle and back solutions to hedge funds, fund of funds, managed accounts, private equity and real estate funds.
Oyster Petroleum has acquired a package of licence interests located in the West of Shetlands basin from Ithaca Energy Limited. The company is backed by HitecVision, an investor specialising in buyouts and growth stage investments in the oil and gas industry.
CapMan is to sell 100% of its holdings in Nice Entertainment Group, a pan-Nordic TV content production group, to Modern Times Group, a Swedish entertainment broadcasting company. Financial details were not disclosed.
Italian carmaker Fiat has brought in a veteran of the 2009 U.S. autos sector bailout in a bid to break the deadlock in talks for it to buy out the minority investor in U.S. automaker Chrysler, a source told Reuters.
Print and digital marketing company Harte-Hanks has agreed to sell its Shoppers division to OpenGate Capital for approximately $22.5 million in cash. The transaction is expected to close before September 30, 2013. The Shoppers division is also comprised of PennySaver, a provider of print and digital marketing and advertising services.
GP Investments Ltd (GPIV33.SA: Quote, Profile, Research, Stock Buzz), the largest Latin American buyout firm, sold its remaining stake in Brazilian college operator Estácio Participações SA (ESTC3.SA: Quote, Profile, Research, Stock Buzz), pocketing five years of gains in one of the largest companies in the nation's thriving education industry, Reuters reported.
Private equity firm TPG Capital has invested approximately $108.6 million in Xinyuan Real Estate Co. Ropes & Gray advised TPG in the transaction. Based in Beijing, Xinyuan is a real estate developer.