Allocations
Hedge fund launches are under the spotlight in this extract from the Preqin Quarterly Update: Hedge Funds, Q3 2015.
Alternative mutual funds saw a significant rise in their share of new fund launches in Q3 2015. These structures accounted for 13 per cent of the new launches monitored by Preqin’s Hedge Fund Analyst, a 10 percentage point increase on the previous quarter (Fig 1). Their European equivalent, UCITS vehicles, also accounted for 13 per cent of fund launches in Q3 2015, an increase from 9 per cent in Q2 2015. Single-manager hedge funds maintained their dominance: these funds
This extract from the Preqin Quarterly Update: Real Estate, Q3 2015 examines current closed-end private real estate funds in market, looking at target capital, primary geographic focus, time spent on the road and a sample of the largest funds currently fundraising.
The number of closed-end private real estate funds in market has increased slightly since Q2, with 463 vehicles currently seeking USD160 billion in capital (Fig 1). The make-up of funds in market at the start of Q4 2015 remains relatively consistent, with the majority of funds in market and aggregate target capital focused primarily on North America (Fig 2).
Private equity firm GTCR has closed the previously announced sale of AssuredPartners to Apax Partners.
Founded in 2011, AssuredPartners is the an independent P&C insurance brokerage with offices in over 30 states, the District of Columbia and London. Through Assured’s network of agencies, the Company provides property and casualty and employee benefits insurance brokerage services to commercial enterprises and individuals.
In executing the Leaders Strategy, GTCR partnered with long-time insurance brokerage industry leaders Jim Henderson and Tom Riley to form AssuredPartners in 2011. Henderson and Riley had over 50-years of combined experience in the insurance brokerage industry, with specific experience
Luxembourg's funds industry is marching ahead as Europe's leading funds domicile if figures released by the Association of the Luxembourg Funds Industry (ALFI) are anything to go by. According to ALFI, March saw the Grand Duchy enjoy record net sales and a growth of AUM.
Total assets now total EUR3.53 trillion, a 3.55 per cent increase for the month and a 13.89 per cent increase since the start of the year. In addition, net sales topped EUR49.92 billion.
Over the last 12 months, Lux-domiciled funds have seen their net assets grow more than 30 per cent. The low interest rate
Eze Software Group is to acquire TKS Solutions, a specialty software provider of shareholder and partnership accounting tools. The value of the deal, which is expected to close next month, has not been disclosed.
TKS Solutions’ core product, known as Penny It Works, will add partnership and shareholder reporting capabilities to the existing portfolio accounting and portfolio management tools in Eze Software Investment Suite. Top asset managers and fund administrators leverage Penny to calculate fees and generate statements for any type of fund in a controlled and auditable environment. The TKS suite also contains a fee calculator that will calculate
Worthy, the online marketplace for pre-owned luxury goods, has raised USD8 million in a Series B funding round led by Carmel Ventures (Carmel Ventures), a member of the Viola Group.
As part of the investment, Carmel's co-founder, Shlomo Dovrat, joined Worthy's board of directors. Other investors in the current round include previous investors such as Meir Barel, the founder of Star Ventures, and Eddy Shalev, a Worthy board member and the founder of Genesis Ventures. Proceeds of the funding round will be used to expand its marketplace presence across the US as well as towards product innovation. Worthy, founded in
Private equity firm Thoma Bravo has completed itsacquisition of DigiCert, a global SSL Certification Authority (CA) and the leading provider of trusted certificate management solutions.
Prior investor TA Associates and DigiCert management and employees will remain significant shareholders in the business.
DigiCert provides digital certificates to over 115,000 customers in more than 180 countries, and is one of the few CAs dedicated solely to advancing PKI-based solutions for enterprises and networked devices.
“As the internet economy continues its exponential growth, certificate management technology will play an increasingly prominent role in securing and verifying information across digital channels,” said Seth Boro,
Scepter Partners is proposing to to acquire 100 per cent of Santos Limited, an independent oil and gas company in Australia, at AUD6.88 (USD4.97) per share in cash.
If implemented, the offer, which values Santos at AUD7.1 billion (USD5.1bn), would provide shareholders with a 26 per cent premium over the closing price of Santos shares on 19 October – the last trading day before the proposal was submitted.
The offer also provides a 38 per cent premium to Santos’ 1-month volume weighted average (VWAP) price up to 19 October, and 40 per cent premium to the VWAP since 21 August
The Intralinks Deal Flow Predictor (DFP), an indicator of future mergers and acquisitions (M&A) announcements, forecasts modest growth for the volume of global M&A deals announced through the first quarter of 2016.
M&A volumes are predicted to increase by about seven per cent through the first quarter of 2016 compared to 2015. The sectors predicted to have the most growth are consumer, healthcare, high-technology, and real estate, while the energy & power, industrials, and telecom sectors will see a decrease.
“2016 is shaping up to have a modest, but good start for global M&A deal announcements, coming off of what
The last quarter’s private equity fundraising is analysed in this extract from the Preqin Quarterly Update: Private Equity, Q3 2015.
With the third quarter of the year typically slow for fundraising, it is surprising to see Q3 2015 as the best quarter in 2015 so far in terms of aggregate capital raised. There were 178 funds that reached a final close, securing an aggregate USD137 billion (Fig 1). The number of funds raised, however, has seen a sharp drop from the previous quarter, causing a marked rise in the average private equity fund size.
Buyout funds in particular collected
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