Managers
Yann Ranchere (pictured), Partner at Anthemis, discusses why 2016 could see game changing challengers enter the banking sector…
2016 will see a strong competition in the core banking space. In Europe especially, a crop of new banks and alternative banks will push strongly in the market. European digital banks such as Fidor are expanding beyond their core market. The UK regulator’s push to lower the barrier to entry to become a bank will come to reality with Atom Bank and Tandem establishing themselves.
Alternative solutions based on prepaid born in various European countries are also expanding beyond borders, with
Law firm Proskauer has represented longtime client Icahn Enterprises in its tender offer to acquire The Pep Boys – Manny, Moe and Jack in an all-cash transaction for USD18.50 per share, or approximately USD1.031 billion in aggregate equity value.
The transaction, which has been unanimously approved by the boards of directors of both companies, is expected to close in the first quarter of 2016.
Icahn Enterprises, a master limited partnership, is a diversified holding company with 10 primary business segments: investment, automotive, energy, metals, railcar, gaming, mining, food packaging, real estate and home fashion.
Pep Boys, one of
Africa focused Private Equity firm, 54 Capital Ltd, has invested USD42 million into Addis Pharmaceutical Factory (APF), an Ethiopian pharmaceutical manufacturer.
An initial investment of USD30 million, with the option to invest a further USD12 million, will be used to increase national and international reach through improved production capacity and product portfolio, and to obtain WHO certification.
The pharmaceutical sector in Ethiopia, while currently dominated by imports, is seen by the Ethiopian Government as a major sector for development, and is expected to grow at circa 15 per cent per annum over the next three years to reach a
Searchlight Capital Partners has held the final close of Searchlight Capital II with total committed capital of over USD1.9 billion.
Erol Uzumeri, a Founding Partner of Searchlight, says: “We are very grateful for the support of our existing and new investors from around the globe. We remain committed to creating value within our partner companies by providing thoughtful strategic direction and flexible capital. Our transatlantic platform, fully integrated team, and differentiated investment mandate allow Searchlight to capitalise on a wide range of global opportunities across multiple industries.”
Latham & Watkins LLP served as legal counsel to the Fund and
One Medical Passport has closed a USD4 million Series A investment from FCA Venture Partners, a Nashville-based venture capital firm focused on healthcare IT.
One Medical Passport’s online software is used by over two million patients and 700 medical facilities annually throughout the US and its customers include many of the top healthcare management companies. The solution enhances the involvement of patients in their own care before, during and after surgery and medical procedures and improves the communication and collaboration between patients, doctors, and medical facilities. The funds will be used to fuel the company’s aggressive growth plans as it
Appleby Fiduciary Business (AFB) has completed its management buyout backed by private equity firm Bridgepoint from the Appleby Group. With immediate effect, AFB and the Appleby law firm are now two independent businesses.
Farah Ballands, who will lead the AFB team as Chief Executive Officer, says: “AFB has grown significantly over the years with over 350 staff located across nine offshore jurisdictions. With Bridgepoint’s expertise and support we look forward to building on this success and investing in new infrastructure to give our clients an unrivalled standard of service.
“The Appleby Group has provided us with a solid foundation
Mergermarket Group has acquired Creditflux, a provider of intelligence, analysis, data and events covering CLO and credit fund pricing, investments, trading and returns.
The acquisition accelerates the global expansion of Mergermarket Group’s extensive real-time fixed income intelligence and data provision.
The company’s Debtwire and Xtract Research products already deliver insight and analytics on corporate high yield, distressed and restructuring situations.
“We are very excited to fortify the growth story of our global fixed income division with the acquisition of Creditflux, a highly regarded and trusted source of CLO and credit fund intelligence and data,” says Hamilton Matthews, (pictured)
Nasdaq and the Tel-Aviv Stock Exchange (TASE) are to form a jointly-operated venture to support private growth companies in Israel.
The venture, which will operate out of Tel Aviv, will offer various benefits to private companies including strategic counselling and mentoring, exclusive networking, a secondary market for liquidity events and debt financing services. The private market will have an independent management team chosen by both exchanges. Further details of the venture will be announced during first half of 2016.
In addition, Tel-Aviv Stock Exchange has entered into an agreement to deploy Nasdaq's Genium INET technology for trading across a variety of asset classes including equities, derivatives, bonds,
Affiliated Managers Group has acquired an equity interest in Baring Private Equity Asia. Baring Asia’s senior partners will continue to hold a majority of the equity of the business and, consistent with AMG’s partnership approach, direct its day-to-day operations.
Based in Hong Kong, Baring Asia is the largest dedicated Asian private equity firm, and advises funds with total assets under management of over US$8 billion. Founded by Jean Eric Salata in 1997, Baring Asia’s investment philosophy is deeply rooted in the principles of capital preservation and diversified portfolio construction. Through its pan-Asian investment platform spanning offices in Hong Kong, Shanghai,
Law firm Howard Kennedy and its regulated London Stock Exchange sponsor, Howard Kennedy Corporate Services advised Albion Ventures on the launch of its 2015/16 prospectus top up offers.
Albion VCTs has launched top up offers for its six VCTs to raise an additional GBP25.5 million, with an over allotment facility of a further GBP10.5 million. Top up offers have been announced for: Albion Development VCT; Albion Enterprise VCT; Albion Technology and General VCT; Albion Venture Capital Trust; Crown Place VCT; and Kings Arms Yard.
The Howard Kennedy team was led by partner Keith Lassman, with support from senior associate Matthew
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