Allocations
OFI InfraVia’s European fund II (InfraVia II), its second European infrastructure fund, has acquired Outokumpu’s electricity distribution network located on the Tornio site in Finland.
With the transaction, a number of Outokumpu employees are transferring to RIG (Röyttä Industrial Grid), a new industrial electricity distribution company established by InfraVia II and which will continue to operate the network.
“RIG is an excellent electricity distribution asset with a strong contractual framework and an attractive investment profile, which aligns perfectly with our investment strategy in midcap infrastructure assets supporting solid industrial partners,” says Vincent Levita, founder and chief executive of OFI
JTC Group has acquired Anson Fund Managers Limited (AFML), the fund administration business of the Anson Group, which is based in Guernsey and represents GBP11.5bn in funds under administration.
AFML specialises in providing a wide range of support services to companies and funds. Its clients include trading companies, open ended and closed ended funds and unit trusts, investment companies and limited partnerships, many of which are listed on stock exchanges such as the London Stock Exchange, Euronext and AIM.
In addition to working for many London listed companies including FTSE 350 members, AFML also acts for a third of
U-Boat Worx has partnered with Exa Limited, a company owned by entrepreneur Tan Sri Lim Kok Thay who spearheads the Asian conglomerate Genting Group.
The partnership is aimed at advancing U-Boat Worx’ growth path in the coming years, which includes increased production capacity, reduction of delivery times, and improvement of global support.
“This is an innovative product that offers the unique experience of deep-sea exploration and ocean diving without getting into scuba gear. I am impressed that U-Boat Worx’ team has established the company as the market leader in the field of manned submersibles, notwithstanding the adverse economic environment,”
Private investors Francis Louvard and Gregory Ingram have acquired just under 90 per cent of the shares in KGAL.
The firm is a specialist in fund and asset management and is headquartered in Grünwald, near Munich.
The current owners, Commerzbank, Bayerische Landesbank, Haspa Finanzholding and Sal. Oppenheim, retain a stake of around 10 per cent.
CMS Hasche Sigle advised the two investors on all legal aspects of the purchase via a team led by Dr Peter von Borch and Richard Mitterhuber.
The KGAL Group is an asset manager for tangible assets, specialising in real estate, infrastructure, aircraft
The Russian Direct Investment Fund (RDIF) and Baring Vostok Private Equity Fund V (BVPEF V) have made a joint investment of USD48m into newly issued shares of Tigers Realm Coal (TIG).
TIG has coking coal assets in the Chukotka province in Russia’s Far East.
RDIF will invest a total of USD14.9m with BVPEF V contributing USD33m. Additionally, the current shareholders of TIG will have the right to invest up to USD8.7m.
Following completion, RDIF will become an 11 per cent shareholder in TIG.
The funds will be used by TIG to complete a Bankable Feasibility Study (BFS)
Syntaxis Capital, a provider of mezzanine finance in Central Europe, has boosted its responsible investment credentials with the appointment of Rupert Coull, an expert in environmental, social and governance (ESG) principles.
Coull will take on central responsibility for all elements of the firm’s ESG policy, as Syntaxis furthers its commitment to responsible investment.
Coull joins the firm with more than a decade’s experience in finance. Having initially qualified as a barrister, he spent eight years in investment banking, working for firms such as Cazenove and Merrill Lynch. Most recently he ran a large private equity portfolio at a pension
Strong momentum in the merger and acquisition (M&A) market during the second half of 2013 is expected to continue into 2014, according to PwC US.
Improved stability and early signs of growth in other key global markets have contributed to an increasing level of business confidence and sharpening focus on finding opportunities for growth, setting the stage for positive M&A momentum, according to PwC’s year-end M&A outlook.
PwC notes that the average monthly deal volume continued to pick up through the latter part of 2013. According to data compiled by Thomson Reuters and analysed by PwC, average monthly deal
Cleary Gottlieb is representing the buyer group, consisting of Dr Wanchun Hou, chairman of the board of directors, and Qiang Li, chief executive officer, in the going-private transaction of Trunkbow International Holdings Limited.
The merger agreement was executed and announced on 10 December 2013.
The merger will be financed by cash equity financing provided by the buyer group and the rollover of existing equity in the company beneficially owned by the buyer group. The closing is expected to take place around the end of first quarter of 2014, subject to the approval of shareholders and other customary closing conditions.
SunTrust Banks is to sell the company's asset management subsidiary, RidgeWorth Capital Management, to RidgeWorth employees and an investor group led by a private equity fund managed by Lightyear Capital.
"Lightyear Capital is an experienced partner that will help RidgeWorth build on its success in growing third-party assets, and we look forward to continuing our relationship with RidgeWorth as an independent asset management business," says Mark A Chancy, wholesale banking executive at SunTrust.
SunTrust will continue to offer a wide variety of asset management solutions to help its institutional and individual clients with their investment needs.
The sale
Ardian has acquired Bank of America Merrill Lynch's interest as financial sponsor of F2i, a specialist in strategic infrastructure investments in Italy.
The deal, which bolsters Ardian’s collaboration with F2i, was closed yesterday in Milan.
Ardian (formerly AXA Private Equity), through its secondary fund expertise, has acquired units in the F2i Fund (First Fund) with a total commitment of EUR150m. As part of the transaction, Ardian will also acquire 9.9 per cent of the F2i SGR’s share capital, becoming a sponsor for F2i. Ardian will also hold a seat on F2i’s board.
The deal furthers F2i’s investment in
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