Tuesday, 28 April 2015
Last updated 1 hour ago
Jun 23 2006 | 7:30pm ET
Bank of Ireland Group and Paul Capital Partners have established a joint venture that will provide private equity funds-of-funds products and services to institutional investors. The joint venture will be called Paul Capital Top Tier Investments.
The joint venture will consist of Paul Capital's existing funds-of-funds business, including personnel, investment resources and facilities. Paul Capital will own 35% of the firm, while Bank of Ireland Group will pay $25 million for a 50% share of the company, which can be increased to 70% no earlier than 2008. Bank of Ireland will also pay $5 million in respect of interests in existing funds-of-funds. Key executives will own the remaining equity.
"One of the exciting aspects of the new partnership is that it will provide us with greater resources and enhanced distribution to expand our private equity funds-of-funds offerings in sectors like middle-market buyout, emerging markets, and co-investment vehicles across the private equity asset class, as well as other offerings" said David York, managing director and ceo of Paul Capital Top Tier Investments.
The new venture will be led by York and Paul Capital founder Philip Paul, who will serve as chairman.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…