Managers
State Street Corporation’s GX Private Equity Index(PEI), a benchmark for comparative analysis of private equity performance, saw an overall return of -1.37 per cent in Q3 2015, it’s first fall in three years.
“The third quarter marks an abrupt end to an uninterrupted, 12-quarter streak of positive returns, the longest winning streak in the 20-year history of our Index,” says Will Kinlaw, senior vice president of State Street Global Exchange. “With growing uncertainty about the global economy and a big spike in public capital market volatility over the past six months, it’s no surprise that the private equity market is
Chubb has created a new Private Equity Practice to provide specialised insurance solutions to US and Canadian private equity firms and their portfolio companies.
Seth Gillston, the Executive Vice President who previously had been named to lead the practice, will manage a team of underwriters with deep industry knowledge and M&A expertise. The team will deliver a broad suite of products and services in the following areas: Primary Casualty (guaranteed cost and loss sensitive); Foreign Casualty; Excess Casualty; Middle Market Package (with global capabilities that can be tailored to industry segments); Property and Specialty; Environmental; Professional Liability; Management Liability; Surety;
BGF (Business Growth Fund) has exited its investment in Plastique, a manufacturer of thermoformed plastic and pulp packaging after the company was acquired by TEQ, an Illinois-based thermoformed packaging company and subsidiary of NYSE-listed ESCO Technologies, for an undisclosed sum.
Minority shareholder BGF invested GBP5 million in Plastique in July 2014. The company designs and manufactures packaging for customers in the personal care, household products, pharmaceutical, food and broader retail markets. With BGF’s support, Plastique became the first European manufacturer of smooth surfaced thermoformed pulp packaging.
Headquartered in Tunbridge Wells, Plastique invested BGF’s capital to build its thermoformed pulp
The Novo 2 Fund, which is managed by Tikehau IM, has finalised its participation in a Euro PP private placement for the Laboratoire Français du Fractionnement et des Biotechnologies (LFB). The Fund invested EUR25 million in this EUR124 million unlisted bond issue maturing in 2023.
LFB, a public-sector corporation, was established in 1994 and is now wholly owned by the French state. It develops, manufactures and sells biomedicines to treat serious and often rare diseases in the fields of immunology, hemostasis, prenatal disorders and intensive care.
As the French leader and number six player worldwide in plasma-derived medicines, LFB
Chinese venture capital firm Qiming Venture Partners (Qiming) has held the closing of Fund V, its fifth US Dollar venture capital fund with USD648 million in commitments.
This fund continues Qiming's strategy of funding innovations through outstanding Chinese entrepreneurs in the Information Technology, Internet and Consumer (Intersumer), Healthcare, and Cleantech sectors. Qiming's assets under management now is USD2.5 billion after its debut in 2006.
Qiming's portfolio includes over 160 investments distributed among its targeted sectors. Qiming Venture Partners invests in early-stage and expansion-stage deals, with over 50% of its investments in early stage companies.
Qiming takes great pride
Noerr has advised the French Pernod Ricard Group on the agreement of a strategic partnership with Black Forest Distillers.
The second largest spirits and wines group worldwide has taken over a strategic majority in the Black Forest company and will, in future, cooperate with the manufacturer of the well-known Monkey 47 Schwarzwald Dry Gin, a valued worldwide premium brand.
A Noerr team led by corporate lawyer Christoph Spiering advised Pernod Ricard on the agreement of the partnership. The case covered both the legal and tax aspects of the transaction. Since the takeover of Seagram by Pernod Ricard and Diageo,
The Institutional Limited Partners Association (ILPA) has launched the Fee Reporting Template, which builds upon ILPA’s reporting guidelines first issued in 2011 and is the first deliverable of the ILPA’s Fee Transparency Initiative launched in May 2015.
The Template marks the industry’s first attempt to unify and codify the presentation of fees, expenses and carried interest information by fund managers to Limited Partners (LPs).
Consultation on the Template has been ongoing since September 2015 and ILPA is pleased to announce broad- based support and input from more than 120 individuals and organisations, including nearly 50 global LP groups, and
Idinvest Partners is making an investment in Secret Escapes, the exclusive members only travel club.
Following the USD60 million Series C fundraising closed by the company during the summer of 2015, Idinvest Partners has decided to join some of the most successful international venture firms (including Google Ventures, Octopus Ventures, Index Ventures,) by taking a minority stake in the company. As a result, Guillaume Durao, Investment Director at Idinvest Partners will be joining Secret Escapes’ board of directors as an observer.
Secret Escapes joins Onfido on the list of successful London-based startups recently backed by Idinvest Partners. Historically associated to
Golding Capital Partners (GCP) has closed 2015 with another record by raising almost EUR850 million new capital for GCP investment programmes, outstripping the previous record set in 2014 by almost 10 per cent.
The successful fundraising is further testimony to GCP's leading position in the European market for private equity, private debt and infrastructure investment programmes. Strong growth was also driven by new investors, with 35 per cent of the commitments in 2015 coming from first-time investors. GCP successfully expanded its private debt portfolio with commitments of EUR413 million for the fund Golding Private Debt SICAV VIII (SICAV VIII), enabling
A stronger euro helped boost second quarter 2015 returns as measured in US dollars in private equity and venture capital funds investing primarily outside the US. Funds focusing on ex US developed markets outperformed those targeting emerging markets – a result that was the reverse of the outcome for public market equities, according to Cambridge Associates.
The Cambridge Associates LLC Global ex US Developed Markets Private Equity and Venture Capital Index returned 7.6 per cent for the quarter ending 30 June, 2015, as measured in US dollars. Its public market counterpart, the MSCI EAFE, rose just 0.6 per cent over
Events
12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
