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Insight

Novacap completes the acquisition of Rhodia’s analgesic activities

Novacap has completed the carve-out of Rhodia’s salicylic and acetaminophen businesses, with the support of its majority shareholder AXA Private Equity. These activities will become Novacyl, a newly created company within Novacap. Novacyl generates revenues of EUR100 million per year and employs approximately 360 people, with production sites located in

Why are listed vehicles so popular?

By Caroline Chan – Guernsey had 106 listed vehicles on the combined London Stock Exchange markets at the end of 2010, with listed closed-ended private equity, property and infrastructure funds particularly popular. The island had the highest number of London-listed vehicles of any offshore jurisdiction; its nearest competitor had 66.

New business reaffirms strength of island’s service providers

By Simon Gray – With the private equity industry yet to recover fully from the market convulsions of 2008 and 2009 and economic concerns still weighing heavily on investment decisions, the outlook is uncertain for service providers to the sector, who have seen new business flows slacken since the onset

Guernsey set to benefit from flight to quality

By Andrew Boyce – Several headline factors will shape the short- to medium-term future of the private equity sector. Funds that had reached the end of their investment periods before the financial crisis have been unwilling or unable to exit investments as a result of the consequential hit on values.

Does the AIFM Directive apply to private equity?

For more than two and a half years the private equity sector has been examining how the European Union’s Directive on Alternative Investment Fund Managers will affect their operations in areas such as remuneration, leverage and transparency. But Aztec Group general counsel James Bermingham (pictured) argues that the way the

Comfort in an uncertain environment

By Gavin Farrell – Guernsey has developed as a platform for the private equity world over the past two decades since it first stole a march on rival jurisdictions by offering a welcome to alternative investment products. In the intervening years the island has built up its experience and expertise

Guernsey maintains buoyancy amid industry’s stormy seas

By Simon Gray – From a jittery market environment plagued by investor fears over the creditworthiness of European sovereign debt, the solidity of banks and the possibility of double-dip recession to the uncertainty surrounding a raft of impending regulation on both sides of the Atlantic, the private equity industry is

New launch Atlon to focus on French mid-market buy-outs

A new fund, Atlon Capital Partners, has formed to focus on middle-market buyouts in France. The firm was launched in October by Thibaut de Chassey and Edouard Thomazeau, both previously partners at French mid-market firm AtriA Capital Partenaires. Alton Capital Partners will focus on companies with an enterprise value between

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US PE and VC investments see ninth consecutive quarter of positive returns

Private equity and venture capital funds in the US continued to generate positive returns for their investors during the quarter ending 30 June, 2011 — the ninth consecutive quarter of positive earnings for each asset class. Both asset classes also closed the door on the first half of 2011 with

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