Gateley in Hotbed deal
Birmingham law firm Gateley has advised two investment companies on a joint venture acquisition of private investor network Hotbed.
Private client investment company Connection Capital and Riverside Capital Group, a property investment and asset management business, will take over the monitoring of Milton Keynes-based Hotbed's investment portfolio.
Hotbed's private equity and property portfolio teams are to join the two businesses and all investment activity will be made under the Connection Capital banner.
Tom Durrant, corporate partner in Gateley's Birmingham office led the deal, along with corporate solicitors James Dyson, Tom Rush and Jenna Ostrowski.
"Private equity investors continue to play a vitally important role in developing businesses in this challenging market and as the economy improves we expect to see significant increases in this type of activity," Durrant said.
"The Hotbed acquisition puts both Connection Capital and Riverside in a really strong position to make new investments in the future."
Connection Capital launched in 2010 to help individuals build a broad portfolio of direct private equity investments and since then has brought in more than 280 investors with a net worth of more than £3bn.
Riverside Capital has been involved in more than £380m worth of acquisitions, disposals and re-financing across the UK and Channel Islands and currently has in excess of £418m of assets under management.
