Allocations
Palatine Private Equity-backed holiday park group Verdant Leisure has acquired its seventh leisure park.
Crosslaw Caravan Park in the Scottish Borders is the third holiday park purchase in the last nine months for the bespoke leisure park operator.
The park will be renamed Coldingham Bay Leisure Park with immediate effect and it brings Verdant Leisure’s portfolio to seven parks across southern Scotland and North East England.
This latest acquisition continues the company’s growth strategy to create a strong regional group with significant scale. Verdant Leisure is keen to add further parks to its offering during 2017.
Located
Shard Capital Partners has held the first closing of the Suir Valley Venture Fund of Suir Valley Funds ICAV, the first Irish focused venture capital fund in Ireland that uses a regulated fund with a fully regulated Alternative Investment Fund Manager (AIFM).
The fund invests in early stage software companies in the financial technology, augmented reality, virtual reality and internet of things sectors.
The fund’s first close has been funded via commitments of up to EUR20 million from Enterprise Ireland, the Irish Government Agency, and Shard Capital.
UK based Shard Capital will be managing the fund in Ireland
Cloud solutions provider (CSP) Cloud Direct has acquired Connect Support Services, following hot on the heels of its January acquisition of AOG Group, a Microsoft gold partner for hosting and communications.
In previous months, Cloud Direct acquired Redblade in July 2016, ihotdesk in December 2015 and Datel Business Systems in June 2015.
The acquisition of Connect Support Services further strengthens Cloud Direct’s customer services and technical support capabilities. As a gold Microsoft CSP partner, the acquisition bolsters Cloud Direct’s offerings around Microsoft Azure, Office 365 and hosted desktop.
Brett Raynes, founder and CEO of Cloud Direct, says: “Connect Support Services brings great people with a
One of First Allied Securities’ affiliated independent financial advisory firms, Lifestyle Financial Advisors, has completed the merger of the Laura A Nagle independent advisory practice into its organisation.
Nagle, a 35-year industry veteran, has joined Lifestyle with more than USD167 million in client assets, as of 31 October 2016.
First Allied, an affiliate of Cetera Financial Group, a network of independent firms, assisted in facilitating the transaction in support of Michael A Wegner, CWS, founder, president and CEO of Lifestyle.
Kevin Keefe, president and chief executive officer of First Allied, says: “First Allied is very pleased to have
Palamon Capital Partners has completed the sale of SARquavitae, an elderly care provider in Spain for EUR550 million.
Palamon sold SARquavitae’s operating business to GeriaVi, which holds Geriatros, another leading player in the Spanish elderly care market, and is a subsidiary of DomusVi (a PAI Partners portfolio company) for EUR440 million.
SARquavitae’s property companies were sold to Eurosic Lagune, a third party real estate investor, in a separate transaction prior to the sale. Both sales have together generated a combined investment return of 3.0x for Palamon.
SARquavitae is the largest elderly care services provider in Spain, operating 88 facilities
Mid Europa Partners is to sell Alpha Medical, provider of laboratory testing services in the Czech Republic and Slovakia, to Unilabs.
The transaction, which is subject to customary clearance by local competition authorities, and is expected to close in Q2 2017, represents the largest healthcare transaction in Central Europe since 2008.
It is also the largest private equity exit in the Czech and Slovak markets since Mid Europa’s sale of its stake in T- Mobile CZ in 2014.
Matthew Strassberg, co-managing partner of Mid Europa, who founded and leads Mid Europa’s healthcare sector practice, says: “It has been
Private equity firm Lovell Minnick Partners is to acquire a majority stake in Foreside Financial Group, a provider of a variety of regulatory compliance and distribution solutions to clients in the investment management industry.
Financial terms of the private transaction have not been disclosed.
Established in 2005 and based in Portland, Maine, Foreside is led by chief executive officer Richard Berthy and president Dave Whitaker, who will remain shareholders and continue in their current management roles.
Foreside delivers outsourced services to investment advisers and broker dealers, including the financial products they manage or distribute. Servicing over USD800 billion
Proper fund governance has long been championed by leading offshore law firm Conyers Dill & Pearman, which for the last decade has encouraged its hedge fund clients to hold at least annual directors meetings. Initially this was met with some resistance according to Robert Briant (pictured), Partner and head of Conyers’ BVI office, who confirms that such resistance has softened over the last few years.
“Even though there is no requirement in the BVI for the directors to meet annually, they do meet and are happy to meet when we suggest it. So that is a positive change. Some funds
Circle Partners is an independent fund administrator with offices in the BVI, Cayman Islands, and across the EU, the Americas and Hong Kong.
"We've seen a lot of growth in new BVI fund vehicles over the last 12 months – both the Incubator Fund and the more popular Approved Fund," reflects Peter Jakubicka (pictured), Business Development Manager at Circle Partners. "These vehicles have been the main driver of business for us in the BVI and we've seen continued interest in the first few weeks of January this year; this is partly due to the fact that Cayman has not introduced
"We see the funds industry as continuing to contribute to the overall offering of financial services. There remains good interest in the BVI product and we envisage that will continue," asserts Glenford Malone, Director, Investment Business Division, BVI Financial Services Commission, when asked to comment on the growth of the BVI's funds industry.
Like every fund jurisdiction, the estimated 40 per cent drop in new fund launches in the hedge fund industry last year negatively impacted the BVI. And as the costs of running a hedge fund business increase, some are choosing to call it a day and revert to
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12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
