Allocations
With around a week to go before the deadline for authorisation, some 47 per cent of alternative investment fund managers have still not filed under the Alternative Investment Fund Management Directive (AIFMD).
That’s according to a snapshot survey, commissioned by Alceda and Kepler Partners, which was completed at the end of June.
Some 56 alternative fund managers, with in excess of USD300 billion under management, participated in the survey, representing firms in Europe, Asia-Pacific and the US.
Authorisation under the AIFMD means hedge fund and private equity fund managers will be subject to a host of new requirements,
APG Asset Management and Aquila Capital have formed a partnership to invest a targeted EUR500 million in the acquisition and development of European hydropower plants.
APG has commissioned Hamburg-based Aquila Capital to establish an investment vehicle dedicated to hydropower infrastructure, which aims to make investments in operational plants and develop new projects across Europe.
APG will commit EUR250 million to the venture. Considering the capability to make use of debt financing, the total enterprise value of the investments is projected to amount to up to EUR500 million.
Aquila Capital will provide the operational management of the hydropower assets as well as portfolio management services to the partnership.
Hydropower has a much higher efficiency ratio (i.e. ratio
Generali has launched a Luxembourg-based asset management company to focus on UCITS and alternative investment vehicles domiciled in Luxembourg.
Generali Investments Luxembourg will support the global business activities of Generali Investments Europe, the main asset manager of Generali Group with approximately EUR350 billion of assets under management.
The new company has been established through the partial demerger of a joint venture with Banca Generali.
Santo Borsellino, CEO of Generali Investments Europe, says: “The launch of Generali Investments Luxembourg is an important pillar of our strategy to expand our third-party business, allowing Generali Investments Europe to best serve and
Beringea, the growth capital investor that manages the ProVen Venture Capital Trusts, has invested GBP3 million in Chargemaster, a provider of electric vehicle (EV) charging infrastructure.
The investment will be used to strengthen Chargemaster’s position in the UK market and fund further expansion into the European EV charging market.
Since its founding in 2008, Chargemaster has quickly grown to become the largest supplier of EV equipment and infrastructure in the UK with more than 10,000 public and commercial charging points installed across the country. The company is also a key player in the European EV market, with over 4,000
Herbert Smith Freehills' London private equity team has advised Antin Infrastructure Partners on the acquisition of BG Group's majority stake in the Central Area Transmission System (CATS) gas pipeline in the North Sea.
The deal is the first for Antin’s recently closed Fund II.
Under the terms of the acquisition agreement, Antin now owns a 62.78 per cent interest in CATS. The consideration is up to GBP562 million (including a potential deferred amount of GBP39 million) and the deal closed on 10 July 2014.
CATS comprises a fixed-riser platform linked to the Everest oil and gas platform, a 404-kilometre,
The market for initial public offerings (IPOs) finished on a strong note late in the second quarter of 2014, recording the highest quarterly deal volume since the fourth quarter of 2007.
Interest in new equity issues is expected to remain healthy heading into the third quarter, driven by continued investor demand for growth and a strong equities market environment, according to IPO Watch, a PwC US quarterly survey of IPOs listed on US stock exchanges.
According to PwC, there were 89 public company debuts in the second quarter of 2014, representing USD21.5 billion in proceeds raised. On an annual
Investcorp is to acquire SPGPrints Group from funds managed by Bencis Capital Partners for an enterprise value of EUR240 million.
The deal is subject to clearance from the relevant competition authorities.
Established in 1947, SPGPrints is a provider of integrated solutions for rotary screen and digital printing for textiles and graphic applications, and a manufacturer of precision metal components for a broad range of applications.
Headquartered in Boxmeer, the Netherlands, the company is represented in more than 100 countries worldwide and in 2013 generated revenue of EUR214 million, a large share of which was from emerging markets.
Tikehau Investment Management and Salvepar, the listed holding company specialising in minority investments, have signed the Charter of the Six Principles for Responsible Investment (UN PRI).
The charter was convened at the initiative of the UN Secretary General and coordinated by the United Nations Environment Programme Finance Initiative (UNEP FI) and by the United Nations Global Compact.
The following six principles of the charter aim to convince the financial sector to invest further in a sustainable development policy:
• Incorporate environmental, social and corporate governance (ESG) issues into investment analysis and decision-making processes;
• Be active owners
Audax Group has acquired Wheel Pros, a designer, marketer and distributor of branded aftermarket wheels, from Platinum Equity.
Headquartered in Denver, Colorado, the company also distributes performance tyres and accessories.
Geoffrey Rehnert, co-CEO of Audax Group, says: “Wheel Pros is a market leader in the automotive aftermarket industry. We look forward to partnering with Randy White, Jody Groce and the Wheel Pros team to grow the business organically and through strategic add-on acquisitions.”
Randy White, CEO of Wheel Pros, says: “We are excited to continue growing the business organically and by leveraging Audax’ expertise in identifying and integrating
M&A activity targeting the UK stood at GBP37.5bn in the first half of 2014, representing the lowest half-year value since H1 2010 (GBP37bn) and a 12.5 per cent drop from H1 2013 (GBP42.9bn), according to MergerMarket.
Only one mega-deal (valued above USD5bn) has been announced in the region so far this year – the GBP8.6bn acquisition of the Oncology division of GlaxoSmithKline by its German peer Novartis.
The lack of large transactions in the country pulled the UK M&A value down this semester.
However, the second quarter of 2014 witnessed a stark improvement compared to the previous quarter
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