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Beacons, a business platform for social media creators, has secured USD6 million in a seed funding round led by Andreessen Horowitz with participation from Li Jin’s Atelier Ventures, The Chainsmokers’ Mantis Fund, Night Ventures, Brazilian esports organisation LOUD and Crush Music.
The new capital will fuel the company’s rapid growth by accelerating product development and hiring.
Beacons already supports more than a quarter of a million creative brands, with over 3,000 new accounts established daily. Creators and organisations using Beacons for link-in-bio include: Sia, Russell Brand, Green Day, Katie Thurston (the next Bachelorette), and Barstool Sports.
While social platforms have
EY’s 2021 Global Private Equity Divestment Study, which was released last week, found that the pandemic has accelerated changes in attitudes to factors that are now affecting the valuation of businesses – in particular digitalisation and ESG metrics.
The report looked at how private equity is refining exit strategies for stronger valuations in a survey of more than 100 private equity executives globally. It revealed that 72 per cent of private equity executives say they expect to capture an ESG premium in businesses they are considering exiting, while 51 per cent of private equity firms regard AI as a critical value
Cerberus Capital Management, LP (Cerberus), a global specialist in alternative investing, has appointed Brian H Hook as Vice Chairman of Cerberus Global Investments, LLC, an affiliate of Cerberus focused on international business and investment strategies.
In this role, Hook will have a broad mandate across regions, asset classes, and sectors, working closely with Cerberus’ investment platforms, operations affiliates, and portfolio companies to drive long-term value.
“We are excited to welcome Brian to the Cerberus family,” says Stephen Feinberg, Cerberus Co-Founder and Co-Chief Executive Officer. “He is a proven leader who understands how to create and sustain shared value. His extensive
Adams Street Partners, LLC, a private markets investment management firm with approximately USD45 billion of assets under management, has appointed Yohan Hill as Director of ESG and Responsible Investing.
Adams Street is a long-time practitioner of responsible investing. The firm has been a signatory of the United Nations-supported Principles for Responsible Investment (PRI) since 2010, supports the Task Force on Climate-Related Financial Disclosures (TCFD), and actively integrates environmental, social and governance (ESG) considerations into its investment process.
Hill will develop strategies and solutions that bring further transparency to ESG risks and opportunities within Adams Street’s portfolios and investments. His expertise
Private equity firm Supernova Capital has fully acquired Player1 Events from GAME.
Craig Fletcher, the founder of Multiplay and the Insomnia Gaming Festival, will return to lead Insomnia operations following the acquisition. Fletcher will also join Supernova’s executive team and provide the driving force and entrepreneurial spirit behind Supernova’s future plans for live events and esports.
All existing P1E staff will be retained as part of the acquisition and will be potentially working on an Insomnia event in 2021 along with future events planned in the UK and internationally in 2022 and beyond.
Fletcher comments: “We’ve seen over the
Despite a challenging fundraising environment, the new Limited Partnership Fund Ordinance regulation (LPF) has the potential to make Hong Kong the preferred domicile for investment funds in Asia, especially once travel restrictions are lifted. As investors seek to broaden their portfolios, Asian funds can be a valuable source of diversification.
“We are very excited about the limited partnership fund structure. It gives the market additional flavour and we now have more options to offer our clients and prospects,” says Michael Pang, Executive Director, Head of North Asia Alternative Investments, Circle Partners, “The reaction and feedback from the community has been very
Hong Kong recently introduced regulatory reforms, policies and incentives to drive growth and increase Hong Kong’s attractiveness as a fund domicile. The newly adopted Limited Partnership Fund Ordinance (LPF) bill allows Hong Kong’s private equity firms to launch limited partnership funds. Already, there are signs that firms are taking advantage of the market to innovate.
As Asian investors demonstrate a growing appetite to allocate to alternative investment funds, Hong Kong is becoming more attractive to managers looking to make the most of the opportunity.
By A Paris – As the investment industry continues to face a low interest rate environment and the appetite for private capital persists, the Hong Kong asset management industry is well-placed to benefit from the drive to diversify and broaden allocations across Asia. And although some industry commentators point to further progress needed, the legislative changes and supportive environment being fostered represent a huge leap ahead in the jurisdiction’s competitiveness.
Last year saw Hong Kong introduce a number of legislative reforms, namely the introduction of the Limited Partnership Fund (LPF) regime, amendments to the existing Open-Ended Fund Company (OFC) regime and reforms
Kirkland & Ellis advised Hg on an innovative GBP455 million NAV financing of the portfolio of Hg Saturn, a 2018-vintage fund with GBP1.5 billion in commitments.
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