NEW YORK, May 31, 2017 /PRNewswire/ -- The Silverfern Group, an investment management firm making direct investments in middle market private equity, real estate and private debt globally, provided an overview of its investments and the growth of the firm in 2016 at its 2017 Annual Meeting held in New York City. Silverfern, which invests on behalf of both institutional investors and a network of more than 65 of the world's largest and most sophisticated single family offices, made five new private equity and real estate platform investments, three follow-on investments, and also announced three investment exits.
"Silverfern's two large, global networks – our base of investors spanning five continents and 23 countries, and our network of more than 50 operating executives and local operating partners –again provided us with a flow of private, off-market information that created unique investment opportunities last year," said Clive Holmes, Silverfern's Co-Managing Partner and Chief Investment Officer. "We continue to add global diversification to our portfolio, while at all times remaining an informed, local investor."
"2016 proved to be extremely productive for Silverfern as we made five new platform investments, three follow-on investments, and achieved three investment exits globally," said Silverfern Co-Managing Partner Reeta Holmes at the gathering of the firm's investors. "The pace of our investments in middle market private equity, real estate and private debt globally has been accelerating, and we expect it will continue in 2017."
Silverfern's five new platform investments in 2016 were:
- Tempo RiverPark Apartments – Silverfern invested in the recapitalization of Tempo RiverPark Apartments, a new 235 unit Class-A apartment community located in Oxnard, California, in partnership with the developer, The Wolff Company. (January 2016.)
- APR Energy – Silverfern invested in the acquisition and take-private of APR Energy plc, a global leader in the provision of large scale temporary electric power generation solutions and the world's leading provider of fast-track, mobile turbine power, in partnership with Fairfax Financial Holdings Limited, ACON Investments, Albright Capital Management and members of APR management. (January 2016.)
- Continental Bakeries – Silverfern acquired Continental Bakeries, the largest European producer and distributor of private label baked goods, in partnership with Goldman Sachs Merchant Banking Division. (May 2016.)
- Broad River Power Holdings – Silverfern acquired this 878 MW dual-fuel, simple-cycle gas turbine electric power plant in Gaffney, South Carolina, in partnership with Arroyo Energy Investors. (September, 2016.)
- Waste Services Group – Silverfern acquired this Melbourne, Australia-based waste management company in partnership with The Riverside Company. (October 2016.)
Silverfern also made three follow-on investments in its existing portfolio companies in 2016, including:
- APR Energy – Silverfern completed a follow-on investment in Silverfern portfolio company APR Energy, in partnership with Fairfax Financial Holdings Limited and ACON Investments. (June 2016.)
- O-Tex Holdings, Inc. - Sanjel Assets – Silverfern completed a follow-on investment in support of the acquisition by Silverfern portfolio company O-Tex Holdings of the cementing assets of the Sanjel Corporation out of bankruptcy. The acquisition secured O-Tex's position as the largest independent provider of cementing services to the U.S. onshore oil and gas industry. (June 2016.)
- Sequitur Energy Resources - Permian Basin Reserves – Silverfern completed a follow-on investment in support of the acquisition by Silverfern portfolio company Sequitur Energy Resources of certain proved and developed oil and gas reserves in the Permian Basin in West Texas from EOG Resources. (June 2016.)
Rounding out its 2016/2017 investment activity, Silverfern announced three investment exits:
- Ladder Capital – Silverfern exited its successful second investment in Ladder Capital via the sale of publicly-listed securities. (December 2016.)
- Carlile Bancshares – Silverfern exited its successful investment in Carlile Bancshares via the sale of publicly-listed securities received in connection with Carlile's merger with Independent Bank Group (May 2017.)
- LocusPoint Networks – Silverfern announced the completion of the Federal Communications Commission's spectrum auction in April 2017 and the sale of the majority of its portfolio company LocusPoint Networks' assets to the U.S. Government in connection therewith (Announced.)
To date in 2017, Silverfern has additionally completed one new platform investment (the acquisition and take-private of Australian publicly-listed company SAI Global in partnership with Baring Private Equity Asia) in January 2017, and one follow-on investment (in Silverfern portfolio company Broad River Power Holdings in partnership with Arroyo Energy Investors) in March 2017.
Founded in 2001, Silverfern is amongst the few truly global middle-market, multi-asset class, investment management firms in the world today. Silverfern invests on behalf of both institutional investors and a global network of more than 65 of the world's largest and most sophisticated multi-billion-dollar single family offices, and has a global partnership with the Citibank Private Bank. Through its offices in New York, Amsterdam, Frankfurt and Sydney, Silverfern makes direct, co-control investments in middle market private equity, real estate, and private debt globally. Silverfern's investment strategy seeks to mitigate systemic risk in its portfolio by pursuing attractive risk-adjusted returns on a global basis, while at the same time seeking to manage local/market risk through its strategy to partner with non-traditional, local, investment partners on each of its investments. Additional information is available at www.silfern.com
Todd Fogarty or Aduke Thelwell
+ 1 212 521 4800
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SOURCE The Silverfern Group