The Isle of Man Government has confirmed that it will be adopting tax information sharing arrangements with the UK which will follow closely the FATCA intergovernmental agreement currently being negotiated with the US. Chief Minister Allan Bell (pictured) says: “The nature of tax cooperation is changing and, as I made
Affiliates of Apollo Global Management are to acquire Aurum, a luxury jewellery retailer in the UK, which includes the Watches of Switzerland, Mappin & Webb and Goldsmiths brands within its portfolio. The acquisition is expected to close in the first quarter of 2013 and is subject to customary closing conditions.
High Road Capital Partners has completed the acquisition of Accurate Component Sales, the ninth platform company for its debut fund, High Road Capital Partners Fund I. Based in New Brighton, Minnesota, Accurate is a distributor of industrial fasteners, hardware and components to manufacturers in the upper Midwest. “Accurate’s consultative
Ongoing access to capital and financing, strengthened balance sheets and divestiture activity will continue to fuel deal activity in 2013, according to PwC US. An acceleration of deals taking place during the final months of 2012 may result in a lull in activity during the first quarter; however, these sound
Actis, the pan-emerging markets private equity firm, has completed a partial exit from XP Investimentos, the largest independent brokerage in Brazil. Actis is selling about half of its original stake to private equity firm General Atlantic. Actis invested USD58m in XP in November 2010. With Actis’s backing the company
Private equity firm PAI Partners has completed the purchase of a 78.6 per cent stake in Marcolin, an Italian eyewear manufacturer, in a proprietary primary LBO transaction in one of its core investment sectors. The purchase has been carried out by Cristallo, a company indirectly controlled by certain investment funds
Albion Ventures has sold its six cinema investments for approximately GBP12.5m. Funds managed or advised by Albion Ventures initially invested GBP1.2m alongside UK art-house cinema operator City Screen to develop the Cambridge Arts Picturehouse in 1999. Albion subsequently invested further funds to develop the Picturehouse at FACT in Liverpool in
Some of the biggest names in private equity are racing to set up shop in Southeast Asia, drawn by the region’s rapid economic development and abundance of natural resources, according to a report by The Boston Consulting Group. However, the report, Private Equity in Southeast Asia: Increasing Success, Rising Competition,
KPMG, the US audit, tax and advisory firm, is adding several new hires to its alternative investment funds (AIF) practice’s national team in Los Angeles and San Francisco. The practice is also making additional moves to boost experience and expertise in alternative investments in the firm’s West Coast offices. "KPMG
Following the Chancellor’s announcement that from 2014-15 tax relief will only apply to pension savings of up to GBP40,000 annually, and up to GBP1.25m over a lifetime, the Association of Investment Companies (AIC) has collated quotes from VCT managers who believe VCTs provide a tax effective alternative. Annabel Brodie-Smith, communications
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