Allocations
London-based alternative investment manager GMI (Global Maritime Investments) is planning a series of private equity partnerships focused on ship purchase and fleet management.
The move reflects a significant 10 to 15 per cent uptick in the prices of new vessels which have been flat for three years and GMI believes prices have a lot further to rise.
GMI, which has also offices in Athens, Cayman, Cyprus, Monaco and Singapore, was founded in late 2005 becoming the only manager to trade the volatility in global shipping rates by arbitraging the inherent mispricing in Forward Freight Agreements (FFAs) via the derivatives
Private equity leaders anticipate another year of moderate deal flow volume, according to the fifth annual PErspective Private Equity Study by BDO USA.
Coming off of a year when rising valuations limited fund managers’ ability to source and close deals, only 15 per cent of private equity fund managers – regardless of fund size – predict they will close more than five deals in 2014. That represents a drop from 2013, when 22 per cent of fund managers anticipated closing more than five deals.
Despite this bearish view, fund managers are hopeful that they will deploy more capital in
Peer-to-peer lending company Lending Works has closed a GBP3.5m seed funding round led by David Kyte, founder of The Kyte Group.
Kyte was a founder trader and former board member of the London International Financial Futures and Options Exchange (LIFFE), now known as NYSE Liffe and in 1985, he founded The Kyte Group, one of the world’s first algorithmic trading and clearing houses.
Kyte says: “The retail banking sector as we know it is fractured; so, as a financial services innovator-turned-investor, a P2P lender developing leading proprietary technology is a natural destination for my investments.
“Innovative technology is
European private equity transaction volumes bounced back in Q4 following a weak Q3, according to the European Private Equity Barometer, published by unquote” and SL Capital Partners.
A total of 326 deals were completed, the highest total since the final quarter of 2012, with the total value of EUR23.6bn up 40 per cent on the EUR16.9bn transacted in Q3.
This value uplift was largely driven by the buyout space, where mid-market deals led the way with volumes at a three-year high. These mid-market deals were the core growth driver during the year in Europe, representing 60 per cent
Japanese trading firm Mitsui has agreed to join The Russian Direct Investment Fund (RDIF) as investor in Cotton Way.
Cotton Way is a Russian commercial laundry and textile management company.
Mitsui will contribute to improve the operation and management of Cotton Way by introducing international best practices and offering experience and knowledge.
This transaction will be the first investment deriving from the Russian-Japanese Investment Platform (RJIP) which was created by RDIF, Vnesheconombank (VEB) and the Japan Bank for International Cooperation (JBIC) in 2013.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, says: “Mitsui’s investment in Cotton Way
Syntaxis Capital, a provider of mezzanine finance in Central Europe, has completed an investment in BIK Brokers, a Polish motor insurance broker.
The investment from Syntaxis will support an ambitious growth strategy for the Gdansk-based broker.
BIK is a commercial wholesale insurance broker in Poland. The company acts as an intermediary between its wide range of blue-chip clients (car fleet management firms, leasing companies, vehicle manufacturers or corporates) and insurance providers in Poland.
For its clients, BIK helps analyse, structure and secure third party liability insurance, CASCO cover and claims management, in addition to providing a range of
Private equity investment activity held steady for emerging markets in 2013, with deal volume gaining momentum in the last six months, according to the Emerging Markets Private Equity Association (EMPEA).
This investment activity led to an overall capital flow of USD24bn in emerging markets last year, representing 883 deals and a seven per cent decline in capital year-over-year from 2012.
While fundraising was down with only 150 funds raising USD36bn in 2013, a 19 per cent decline in total capital raised compared to 2012, the relatively constant deal volume indicates that private equity investors continue to find investable companies
Anergis has closed a financing round totalling CHF8m which was fully subscribed by existing investors and directors and co-led by Sunstone Capital, BioMedInvest and Renaissance PME/Vinci Capital.
Anergis will use the proceeds to further advance the clinical development of its lead product AllerT, a vaccine to treat birch pollen allergy, and to advance two additional vaccine candidates against house dust mite and ragweed allergies.
For AllerT, the funds will specifically allow the preparation of Phase III trials and the conduct of a long-term efficacy follow-up trial of patients who participated in the recently completed field-based Phase II study. The
Cash-rich Norwegian private equity firms are eyeing up potential North Sea acquisitions, encouraged by proven management teams and reasonable market prices, claims an energy expert.
Rosalie Chadwick, a partner in legal firm Pinsent Masons, believes the Scots-Nordic alliance will be strengthened in 2014, echoing a number of investments in recent months, but it won’t be one-way traffic.
“There is an increased confidence by Norwegian investors in UK oil and gas assets,” says Chadwick. “The appeal of strong and proven management teams, who are successfully working what are often difficult assets, set against reasonable market prices, is a big pull
Intervale Capital, an energy-focused private equity firm, has invested alongside a veteran management team to form Tier 1 Energy Solutions.
Tier 1 provides wireline and completion services and is headquartered in Edmonton, Alberta.
Tier 1 currently has field operations in Nisku and Grande Prairie and a sales office in Calgary. The company plans to expand its footprint to include the most active oil and gas producing regions in the Western Canadian Sedimentary Basin.
Kevin O'Dwyer serves as Tier 1's chief executive officer. He brings over 30 years of oilfield service experience to the company, and joins a team of
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12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
