Allocations
Investment fund Project Innovation has exited from another Chinese credit-finance project with a gross internal rate of return (IRR) of 28.19 per cent.
Project Innovation was structured by the BRJ China Credit Fund Limited and launched last year by ADAM’s Hong Kong-based investment manager Adamas Asset Management (HK) Limited, which invested GBP800,000 in the fund.
ADAM chairman John Croft, says: “In line with the strategic repositioning of the company, we are continuing to plan the orderly disposal of our existing asset portfolio to generate cash for investment in high-yield corporate lending in Greater China, where a large number of
Fundraising for private infrastructure funds has remained strong in 2014 to date, with the 14 funds closing on an aggregate USD8.5bn in Q3 2014 bringing the total raised throughout the year to USD27bn, a small increase on the USD23bn raised over the same period last year. However, capital is further concentrated among a smaller selection of managers, with the number of funds to close falling. Just 28 funds have closed in the first three quarters of this year, compared to 41 in the same period in 2013.
Please click here to download the Preqin Quarterly Update: Infrastructure, Q3 2014
The third quarter of 2014 saw 199 private equity funds reach a final close, raising USD80bn in aggregate capital, representing 21% fewer vehicles and a significant 44% decrease in capital commitments compared to the previous quarter. However, the relatively low number of funds means that the average fund size of USD402m is particularly high. Investors seem to be more inclined to commit capital to the larger, more established private equity fund managers, and these statistics serve as evidence of continuation of the trend seen in the fundraising market last year.
Please click here to download the Preqin Quarterly Update: Private Equity,
Funds advised by CVC Capital Partners have acquired Paroc Group from its existing institutional shareholder group for an enterprise value of approximately EUR700 million.
Headquartered in Helsinki, Paroc is a producer of stone wool insulation in the Nordic and Baltic regions, producing building insulation and technical insulation for the residential and commercial construction markets, as well as various industrial applications. The group has approximately 2,100 employees and a pan-European sales presence, supported by nine production facilities in Finland, Sweden, Lithuania, Poland and Russia.
In a five-year period under the ownership of its current shareholder group, Paroc has grown its
Carey Olsen's financial and corporate and investment funds work in the Channel Islands, the Cayman Islands and the British Virgin Islands has been recognised in the 2015 International Financial Law Review 1000 (IFLR1000) guide.
The new results come just after the firm gained tier 1 rankings across all of its Channel Island practice areas in The UK Legal 500.
The IFLR1000 is a guide to the world’s leading financial law firms and is based on independent research which includes interviews with the featured firms, client and competitor feedback and market analysis from the past 12 months.
For the
Law firm HowardKennedyFsi has advised Christian Nellemann, chief executive and founder of XLN, following the decision by private equity firm ECI Partners to sell its stake in XLN to its management team.
XLN is a provider of fixed line and mobile telephony, broadband, energy and card processing services to small and micro businesses across the UK.
XLN’s management team is financing the purchase through vehicles managed or advised by GSO Capital Partners, a division of the Blackstone Group.
Paul Glassberg, a partner in HowardKennedyFsi’s corporate team, says: “I have been advising Christian for a number of years and
Samchully Asset Management has acquired a 34 per cent interest in Cardinal Gas Services (CGS), located in Ohio’s Utica Shale play, from TOTAL E&P USA and EV Energy Partners, who owned 25 per cent and nine per cent of CGS, respectively.
The total purchase price of USD544 million (USD612 million including purchase price adjustments) is comprised of 100 per cent cash. For purposes of the acquisition, Samchully AMC has established a special purpose vehicle that is owned by a new fund, with investors comprised of Korean pension funds and E1, a Korean strategic investor.
CGS is a wet gas
JZ Capital Partners Limited (JZCP) is to sell its equity interest in Milestone Aviation Group to GE Capital Aviation Services.
JZCP first invested in Milestone Aviation in September 2010, investing a total of USD15.1 million to date.
JZCP is expected to receive a total of USD40 million from the sale, representing an estimated multiple of equity Invested of 2.8x and an IRR of 36 per cent.
Milestone Aviation is the world’s largest helicopter leasing company headquartered in Dublin, Ireland. The company is focused on leasing helicopters to the oil and gas, and mining industries, as well as to
Deutsche Asset & Wealth Management’s DB Private Equity has held the first and final close of its Secondary Opportunities Fund III (SOF III) at the USD1.655 billion hard cap.
SOF III is dedicated to acquiring a diversified set of private equity fund interests and assets in the secondary market globally.
Carlo Pirzio-Biroli, global head of DB Private Equity and co-head of DB PE Secondary Funds, says: “We are very pleased to have received support from an impressive roster of institutional and private clients globally. In line with our proven value investing approach, we expect to deploy capital consistently across
Singaporean venture capital firm Infocomm Investments has launched in London and is extending its USD200 million fund to European tech start-ups.
At a launch event held at Central London’s Southbank Centre, the chairman of Infocomm Investments and executive deputy chairman of Infocomm Development Authority of Singapore, Steve Leonard, announced the fund’s first investment in Europe into the FinTech accelerator, Startupbootcamp FinTech.
Leonard says: “There are many smart cities around the world, but Singapore is building itself into a smart nation. This means we want to use exciting new technologies to better serve citizens of all ages and companies of all
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12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
