£110m equity fundraising on the London Stock Exchange
About the client:
Empiric Student Property plc is an internally managed real estate investment trust (“REIT”) investing in modern, direct-let, premium student accommodation, both standing and development assets, with assets in prime central locations in top university cities and towns in the UK.
About the transaction:
This fundraise was conducted for a specific portfolio of assets in London, which will add in excess of 1,000 beds to the wider Empiric portfolio.
The fundraise was a single Prospectus issue comprising a Placing, an Open Offer, Offer for Subscription, and Intermediaries Offer
Initial £2.4 million investment by Cherry AB at a £10 million valuation
About the client:
Highlight Games creates unique virtual sports content from major European football matches under multi-year rights packages
About the transaction:
Cherry AB, the Nasdaq-listed online gaming operator, acquired 25 per cent of Highlight Games Limited, together with an option to acquire a further 26 percent.
Cherry’s investment is the third round of funding secured from three separate investors by Akur for Highlight Games during 2016 and 2017.
Tim Green, Chief Executive of Highlight Games said: “We are delighted to welcome Cherry as a significant strategic investor in Highlight Games. I would like to thank Akur for working alongside us in introducing Cherry and structuring this transaction, as well as bringing our earlier investors on board. We have seen real benefits from our long-term partnership with Akur and look forward to growing the business together in the coming years.”
£350m equity fundraising on the London Stock Exchange
About the client:
Tritax Big Box is the leader in UK Big Box real estate investment and is the first listed entity to give pure exposure to the Big Box asset class in the UK – advised by Akur since 2012
About the transaction:
Significantly over-subscribed, the fundraise was increased from a target of £200m to the hard cap of £350m, at which level there was significant further demand.
BBOX focuses on large scale logistics assets let to blue chip clients, providing scale and automation to major on-line retailers.
Ace2Three is a leading online skill based gaming platform in India, serving over 8 million customers
About the transaction:
Sale of a majority equity stake in Head Infotech Pvt Ltd, the operator of Ace2Three.com, to funds managed by Clairvest Group Inc (TSX:CVG), a Toronto-based private equity house.
Akur Capital ran an extensive process to identify and deliver a successful exit for a majority of shareholders. Akur secured a 20x exit multiple for Matrix Partners India, one of its most successful investments to date.
The consideration of $74m represents one of the largest ever transactions in the online gaming space in India.
Deepak Gullapalli, Chief Executive of Head Infotech said: “Clairvest brings much more than capital to this deal: it brings a wealth of experience in building companies of our size as well as expertise in the gaming space. We are grateful to the Akur team for their work in bringing this complex, cross-border deal together. We have been particularly impressed by their international gaming network, sector knowledge and commitment to the transaction.”
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