The Bermuda Monetary Authority is advancing preparations to sign a cooperation agreement with Europe under the Alternative Investment Fund Managers Directive (AIFMD). The AIFMD is due to be implemented across Europe by 22 July 2013. The Authority has been in discussions with the European Securities and Markets Authority (ESMA), and
Private equity firm GMT Communications Partners’ portfolio company MeetingZone has completed its third bolt-on acquisition in 18 months. MeetingZone, the independent global audio/web conferencing and collaboration services provider, has acquired Atia Communications, the UK based provider of Unified Communications (UC) services and a Microsoft Lync 2010 accredited specialist. The
Electra Private Equity has reported an uplift in its diluted net asset value per share of 33p as a result of the successful IPO of UK motor insurer esure, its third largest investment at 30 September 2012. In 2010, Electra invested GBP30m (via the Tosca Penta Investments LP fund)
Aligned Asset Managers, a portfolio company of private equity firm GTCR, has named R Barney Walker as director of institutional investments. Walker will drive Aligned’s distribution and client service activities for its member firms. Walker will focus on implementing Aligned’s strategic marketing plan across all institutional and retail
A framework for incorporated cell companies in the insurance sector was created in the Cayman Islands on 25 March, when the Legislative Assembly passed an amendment to allow the registration of portfolio insurance companies (PICs) within segregated portfolio company insurers (SPCs). PICs offer four main advantages over existing SPCs,
While 86 per cent of respondents to a Northern Trust survey say they broadly understand the implications of the Alternative Investment Fund Manager Directive, close to 70 per cent feel their investors are not engaged in AIFMD considerations. “The AIFMD will ultimately affect every fund manager and their investors
Kazyna Capital Management (KCM) has gone live with eFront’s flagship solution for managing private equity investments, FrontInvest. This implementation marks the first foray for eFront into the alternative investment market in the Commonwealth of Independent States (CIS). A wholly-owned subsidiary of the Sovereign Wealth Fund of Kazakhstan, Samruk-Kazyna,
Chinese distressed debt and special situation investments specialist Shoreline Capital has closed its second fund at USD303m. The fund significantly surpassed the size of Shoreline’s first fund, which secured USD178.2m of commitments in 2008. The firm has already invested over one third of the new fund’s committed capital.
Argon Medical Devices, a portfolio company of private equity firm RoundTable Healthcare Partners, is to acquire the Interventional Products Business of Angiotech Pharmaceuticals. The Interventional Products Business manufactures and markets disposable and re-usable biopsy products for the diagnosis of cancer, drainage catheter products, and vascular interventional products. The
FPI Innovation Fund has attracted and arranged a co-investment of EUR10m into ANF Technology, the producer of NAFEN, the first ever superior-grade aluminium oxide nano fibre to be produced at commercially viable industrial volumes. FPI typically invests directly at the earliest stage in a company’s development, when risks are
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