Managers
Some fund managers are passing up European investment opportunities in a bid to steer clear of the Alternative Investment Fund Managers Directive (AIFMD), according to a panel of experts at the Guernsey Funds Forum 2015.
The event was held in London last week and attracted more than 500 attendees to listen to keynote speaker Guy Hands and two panel sessions. The first of those was titled ‘meeting the needs of European private equity’, including a focus on Base Erosion and Profit Shifting (BEPS) and the Alternative Investment Fund Managers Directive (AIFMD).
Tim Hames (pictured), Director General of the British Private
Glilot Capital Partners, an Israel-based venture capital fund investing in early-stage enterprise software start-ups, has held the closing of a USD77 million fund, Glilot II.
The firm’s second fund was raised on the successful track record of the firm's first fund, Glilot I, which has had three exits to date and distributed significant profits to its investors since its inception less than four years ago.
Glilot I, was founded in 2011 by Kobi Samboursky and Arik Kleinstein, was a $30 million fund that invested in eight companies. Among its investments are Aorato (acquired by Microsoft), Insightera (acquired by Marketo) and
CIT Corporate Finance served as Administrative Agent on a USD40 million senior secured asset-based revolving credit facility for TowerBrook Capital Partners, a private equity firm.
The financing was used to facilitate the acquisition of a majority stake in J.Jill, a vertically integrated, multi-channel retailer of women’s apparel, accessories and footwear, from an affiliate of Arcapita Bank BSC, an international investment firm. Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT.
The J.Jill brand and focused product is designed for women who lead rich, full lives and is recognised for style, comfort and quality. With a strong
The Depository Trust & Clearing Corporation (DTCC) has launched a new capability within its Wealth Management Services (WMS) business to streamline the processing of internal account transfers for alternative investments.
With DTCC’s Alternative Investment Products (AIP) service, market participants can now fully automate account transfers for non-traded real estate investment trusts (REITs) and business development corporations (BDCs). This allows broker/dealers to systematically manage the complex activities required to re-register accounts and internally transfer investors’ shares between closing and opening accounts, as needed.
Currently, account transfer transactions are largely manual operational processes – incurring paper trails, multiple registrations and numerous inter-departmental
Horizon Technology Finance Corporation has closed a USD7.5 million venture loan to SilkRoad Technology, a provider of cloud-based talent management solutions. SilkRoad will use the funds for working capital purposes.
"SilkRoad, a provider of innovative human resources management software, is an exciting addition to our diversified venture loan portfolio," says Gerald A Michaud, President of Horizon. "SilkRoad's product offerings assist companies with a variety of mission critical human resource needs. With our growth capital, SilkRoad has bolstered its liquidity to contribute to its encouraging growth outlook."
John Shackleton, President and CEO of SilkRoad, says: "We appreciate the support and financing
Moorfield Group has completed the acquisition of the mixed-use Riverlights scheme in Derby for GBP16.5 million, representing a yield of 10 per cent. The asset has been bought out of administration.
Extending to 199,008 sq ft including four upper floors, Derby Riverlights comprises a combination of retail and leisure units ranging from 3,600 to 8,000 sq ft, alongside two hotels occupied by Holiday Inn and Hampton by Hilton, and a Genting Casino.
Built in 2010, Derby Riverlights is located on the eastern edge of Derby city centre, adjacent to the intu Derby shopping centre and Riverside Gardens, and acts
Vistara Capital Partners has raised CAD80 million for its inaugural fund, well in excess of its initial CAD50 million minimum target, and within an 80 day period of commencing fundraising. Vistara is targeting an overall fund size of CAD100 million.
Vistara has been co-founded and will be managed by two well respected and seasoned technology and finance executives with over four decades of collective relevant experience: Fabio Banducci, most recently as CEO of Peer 1 Hosting where he led its turnaround and growth over 8-1/2 years through to exit for CAD650 million in 2013; and Randy Garg, most recently as
Private equity firms should go back to the future to deliver on investor demands for Alpha returns, according to Guy Hands.
Hands, Chairman and Chief Investment Officer of Terra Firma Capital Partners Limited, gave the keynote speech to a 500-strong audience at the Guernsey Funds Forum 2015 in London last week.
He said that the private equity industry is now split into two segments: the semi-public, listed companies such as Blackstone, Carlisle, CVC and Apax who represent about 85% of the money raised; and the remainder, which raises about 15% of the money but actually comprises the vast number of
The Pembani Remgro Infrastructure Fund has held a successful first closing at USD 245million. In addition, the fund has received a further commitment equal to 20 per cent of the fund size, capped at USD100 million, from the Overseas Private Investment Corporation (OPIC).
The formal fundraising process commenced in May 2014, with the aim of achieving final close during 2015 at a target fund size of USD500 million. Apart from initial seed capital commitments made by Remgro and Phuthuma Nhleko as cornerstone investors, the fund has been anchored by a significant investment from CDC Group plc and received commitments from
Enterprise Therapeutics, a drug discovery company focused on new therapeutics for respiratory diseases, has secured an additional GBP2.4m (USD3.6m) in Series-A financing.
The funds are comprised of GBP2m by new investor, Imperial Innovations and GBP0.4m increase by founding investor Epidarex Capital, bringing the total Series-A round to GBP4m. The proceeds will consolidate and accelerate the drug discovery and target identification programs initiated by Enterprise Therapeutics earlier in 2015. The company is based at the Sussex Innovation Centre, University of Sussex.
Enterprise Therapeutics’ focus is the discovery of novel disease modifying medications that target key drivers of respiratory
Events
12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
