Intralinks to create 'largest' deal-sourcing platform

PE Manager tracks third party service providers: Intralinks buys two of the three largest deal sourcing platforms; McGladrey creates private equity consulting role, and more.

• Cloud service and virtual data room provider, Intralinks, has acquired online deal sourcing platforms MergerID and PE-Nexus. Initially Intralinks will combine the two, creating the largest deal sourcing platform globally, according to PE-Nexus chief executive and co-founder, Anthony Hill, who will become director of the combined business. 

The next phase will be for Intralinks to then integrate that company into Intralinks IT infrastructure, Hill added. “The end goal here for everybody is to offer that illusive full life cycle solution to the deal process.”

The merged deal sourcing firm, which is yet to be named, will be subscription-based and charge no extra fees, according to Hill. In order for private equity firms to make use of the platform they must fill out an online application form. 

The model works using a “suitor matching algorithm” that matches the deal opportunity to the private equity company based on “live investment criteria”. 

• Regulatory consultancy firm, the Regulatory Fundamentals Group (RFG), has released FATCA Watch. FATCA Watch, which is delivered either through an online platform or as a Word document, helps firms work out how much exposure they have to the Foreign Account Tax Compliance Act (FATCA). FATCA requires non-US private equity firms to provide details of their US investors to US tax authorities.

• Trust, corporate and fund administration services provider, First Names Group, has agreed to acquire international trust business Basel Group. The acquisition will allow First Names Group to establish a presence in Luxembourg, according to a statement from the firm.

• Accounting and tax advisory firm, Smart Devine, has added Jack Warnock as managing director of its business advisory practice. Formerly of business consultancy, JW Strategic Advisors, Devine has experience advising on areas including: risk management, finance and operations, management due diligence and recruitment.

• McGladrey, assurance and tax consultants, has named David Noonan national director of private equity consulting. Previously of data communications firm itelligence, Noonan, will be based in Columbus for the newly created role.

• Apex Fund Services, a fund administration company, is offering free office facilities to fund managers looking to start a new fund. This service forms part of a new division, Apex Emerging Manager Incubation Services (EMIS).  Apex will also offer free advisory services helping start-up managers with fund structure, jurisdiction selection and administration.