Crescent Financial Partners has purchased a minority stake in IT Trading’s proprietary quantitative trading software for USD3.2m. The software, which has been under development for nearly a decade, employs a statistical arbitrage trading model. “In the finance world, arbitrage is commonly known as the practice of taking advantage of a
John DelPonti has joined the valuation and financial risk management practice of Navigant Capital Advisors, a wholly owned subsidiary of Navigant Consulting, as a managing director in the Washington, DC office. DelPonti will focus on providing strategy, operations and risk management services to mortgage banking clients. “The mortgage industry is
Ridgemont Equity Partners, a middle market buyout and growth equity firm, has signed a definitive agreement for a majority investment in Unite Private Networks, a provider of high-bandwidth, fibre-based communications networks. The financial terms of the transaction were not disclosed. Unite Private Networks specialises in providing high-capacity data communications networks
Private equity firm Origo Partners has acquired a 16.5 per cent stake in Unipower Battery for an aggregate amount of USD4.3m. Unipower is a new venture established to provide lithium-ion batteries and related materials to China’s burgeoning electric vehicle market. The company is in the process of being spun out
Channel Islands law firm Carey Olsen has advised a new Jersey fund, GCP Infrastructure Investments, on its listing on the Main Market of the London Stock Exchange. The fund has been created by Gravis Capital Partners, an investment advisory firm currently managing assets with a principal value in excess of
J.P. Morgan has been appointed depositary bank by the India-based producer of synthetic, cotton and blended yarns, Jindal Cotex. It follows the company’s recent USD38.5m global depositary receipt listing on the Luxembourg Stock Exchange. “We are extremely pleased to have launched our GDR offering in Europe,” says Sandeep Jindal,
Mitchell Hartley Advisers, an independent investment banking advisory firm, has appointed Jeffrey C. Bechtel as managing member. Bechtel joins as the firm’s third principal, along with Keith Mitchell and Roger Hartley. Previously, Bechtel was senior vice president at Jefferies’ financial institutions group, leading the firm’s asset management investment banking efforts
Law firm Sidley Austin has appointed Alyssa A. Grikscheit as a partner in the Latin America and investment funds, advisers and derivatives practices. She will be based in the New York office and will focus on cross-border transactions and alternative investment funds. Grikscheit has significant experience representing clients in Latin
The Alternative Investment Management Association is to engage with US policymakers and supervisors over the implementation of the Dodd-Frank Act. Aima has set out several key areas of focus ahead of September meetings with US policymakers and supervisors regarding the Act. These include the registration of hedge fund managers and
Private equity firm TA Associates has made a minority investment in Dr Lal PathLabs, one of India’s largest chains of pathology laboratories, by purchasing half of Sequoia Capital’s stake. Sequoia Capital has been an investor in Dr Lal PathLabs since 2005. Dr Lal PathLabs was founded in New Delhi in
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