By Ugo M Giordano, partner and Sofia De Cristofaro, senior associate, Paul Hastings – The Alternative Investment Funds Managers Directive (the “AIFMD”) and the level 2 delegated Regulation No. 231/2013/EU entered into force on 22 July 20131, but the legal framework for the full transposition of the AIFMD in Italy
Scronce & Associates is a new private equity group that invests in small to mid-size privately owned entrepreneurial companies located in the southeast US with revenues from USD1m to USD15m that are in transition and need both financial and business support. Tim Scronce (pictured), president/chief executive of Scronce &
Private equity and venture capital funds based in the US kicked off the first quarter of 2013 with positive, single-digit returns that were higher than the previous period. In the midst of a strong first quarter for public equities, however, both alternative asset classes underperformed the public markets, according
Scotland’s largest independent brewery BrewDog has officially broken its own crowdfunding record, raising GBP3m in two months through selling shares to beer fans with its “Equity for Punks” scheme. The record-breaking start to the campaign takes the brewery three quarters of the way to reaching its GBP4m target in
Nokia Corporation is to sell its Devices & Services business and licence its patents to Microsoft for EUR5.44 billion in cash, payable at closing. Nokia expects to book a gain on sale of approximately EUR3.2 billion, and expects the transaction to be significantly accretive to earnings. The transaction is expected
A consortium of private investors has submitted an application to Avtodor SC to take part in the tender for the construction of a section of the M11 toll road, which will run between Moscow and St. Petersburg. The consortium comprises the Russian Direct Investment Fund (RDIF), Macquarie Russia and
International investment operation Prestige and specialist investment advisor Methexis Capital have launched the Commercial Finance Opportunities (CFO), a fund specialising in secured lending to private companies, in the UK. The arrival of CFO follows quickly on the announcement on 12 August of the purchase by Prestige Fund Management of a
The further deterioration in the Syrian situation adds to the upside risk for oil prices, says Gary Dugan, Chief Investment Officer, Asia and Middle East at Coutts… Increasingly vocal international allegations that the Syrian government has used chemical weapons, and the start of UN inspections on Monday, may foreshadow a
London-based consulting and outsourcing firm HedgeStart has questioned the readiness of hedge and private equity fund managers for the proposed changes to the taxation of limited liability partnerships. In May, HMRC issued a consultation document aimed at curbing, as they saw it, the tax reduction schemes used by alternative asset managers.
Lucas Wurfbain, Fund Manager, Insparo Asset Management calls for African investors to focus on Africa… Fair and open trade between the BRICS countries and Africa is a necessity, however we feel that any desire to increase “correlation” to the BRICS markets in general, especially at this juncture, is not in
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