Custom House Global Fund Services, a provider of financial services to the alternative investment sector, has opened a New York office and expanded its business development team. Custom House now has seven global locations, over USD40bn of assets under administration and 200 staff. Joining Custom House in New York is
HSBC Securities Services (HSS) has made key appointments in sales for North America and Europe. Kevin Skorzewski joins as head of sales for North America. In this new role, Skorzewski will be responsible for building out HSBC’s securities services franchise in the region and will focus on serving the complex
Funds managed by IK Investment Partners have entered into an agreement with the Norwegian foundation Det Norske Veritas (DNV) to acquire its subsidiary DNV Petroleum Services (DNVPS). Financial details for the transaction have not been disclosed. Founded by the Norwegian foundation DNV in 1981, DNVPS is a provider
Law firm Paul Hastings represented Hansol Paper in its acquisition of Schades Group from Capidea Kapital, a Danish private equity fund. Schades is a European supplier of thermal paper rolls and self-adhesive labels for specialty applications, which has production and sales subsidiaries in Denmark, Germany, the UK, France, Finland,
Opsona Therapeutics has raised an additional EUR3m (USD4m) in a second closing of its previously announced series C equity financing from new investor Omnes Capital. The extension brings the total raised by Opsona in this series C financing to EUR36m (USD48.6m). On 25 April 2013, Opsona raised EUR33m (USD43m)
LNK Partners, a private equity firm focused on investing in the consumer/retail sector, has teamed with management to acquire Fitness Connection, a low-price, high-value chain of health clubs. The size of LNK’s investment and other terms were not disclosed. Fitness Connection’s strategy combines value pricing of USD9.95 to
Private equity firm The Sterling Group’s affiliated investment fund, Sterling Group Partners III, has completed the acquisition of ROM Corporation and Specialty Manufacturing Inc (SMI). The businesses have been combined through its holding company, Safe Fleet Acquisition Corp. The investment is Sterling’s fifth investment in its third fund, a
ACTIVE Network is to be acquired by private equity firm Vista Equity Partners in an all cash transaction valued at approximately USD1.05bn. Under the terms of the agreement Vista will commence a tender offer to acquire all of the outstanding shares of ACTIVE’s common stock for USD14.50 per share
The European Securities and Markets Authority (ESMA) has published final guidelines on the reporting obligations for alternative investment fund managers (AIFMs). ESMA’s guidelines, which relate to the Alternative Investment Fund Managers Directive (AIFMD), will require AIFMs – including hedge funds, private equity and real estate funds – to regularly
PowerbyProxi, developer of a wireless power system, has received USD4m in funding from Samsung Ventures Investment Corporation (SVIC). Michael Pachos from SVIC joins PowerbyProxi’s board. This brings the total value of the company’s Series C financing to over USD9m following an announcement earlier this year that PowerbyProxi had
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