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Venture capital funds globally reached their best post-2009 crisis period performance in Q4 2018, surpassing the previous best recorded one year earlier, according to eFront’s latest Quarterly Private Equity Performance report.
Performance of VC funds globally reached 1.531x in Q4 2018 – the highest level on record – before dipping back below 1.5x in the first quarter of this year.
2018 was the best ever year for VC performance, with high returns associated with low risk and shorter time-to-liquidity, as VC funds capitalised on a favourable exit environment.
Return dispersion in 2019 remains below the level seen in 2014 to
Sidley Austin has appointed Oren Gertner as a partner in the firm’s premier Investment Funds practic in New York. Gertner joins from Davis Polk & Wardwell LLP, where he was in the firm’s Corporate department, practicing in the Investment Management group.
“Over the past two years, Sidley has prioritised the growth and development of our private equity funds and other illiquid private funds capabilities, particularly within international money centres like New York,” says William D Kerr, global leader of Sidley’s Investment Funds practice and a member of the firm’s Executive Committee. “The arrival of Oren, who is an exemplary talent
By Elizabeth Pfeuti – Co-investments remain a theme in 2019, as both GPs and LPs increasingly see value in separate partnerships alongside commingled funds.
Earlier this year, the listed Standard Life Private Equity Trust announced it would allocate up to 20 per cent of its net asset value to these partnerships, kicking off with a stake in Midlands-based Mademoiselle Desserts alongside Europe-focused IK Investment Partners.
Institutional investors, too, such as pension and sovereign wealth funds, are getting in on the act. Some of the largest public pensions in the US, including the Teacher Retirement System of Texas, which announced this year
Vistra, a global trust, fund administration and corporate services provider, has launched its Economic Substance Services and Solutions, starting with the British Virgin Islands (BVI) Economic Substance Classification Questionnaire designed to help clients determine the classification of their BVI company as it applies to the substance legislation.
Developed by Vistra’s in-house legal team, the BVI Economic Substance Classification Questionnaire is an efficient and effective service for any BVI entity to gain clarity on their status, supported by detailed analysis and tailored solutions.
Simon Filmer, Global Lead, Company Formation, Vistra, says: “It is now mandatory for all BVI entities to comply
Tortoise has named Senior Managing Director Michelle Kelly Johnston as Chief Financial Officer (CFO).
Johnston, a member of Tortoise’s Executive Committee, will be responsible for business strategy & management, corporate finance (including capital allocation, M&A execution and financing), financial planning & analysis and financial reporting.
“We are delighted that Michelle has taken the CFO role to lead an important area of our business including strategic capital prioritisation and allocation for business decisions and growth initiatives,” says Tortoise Chief Executive Officer, Kevin Birzer. “Michelle’s strategic strengths, leadership across the firm and her business and financial acumen make her ideal for
Cairngorm Capital Partners’ second fund, Cairngorm Capital LP II, has acquired Millbrook Healthcare Limited (Millbrook), together with its subsidiaries, Ultimate Healthcare Limited and Consolor Limited.
The transaction marks Cairngorm Capital’s entry into the assisted living sector, a long-held objective for the firm, which was facilitated by the appointment of Dr Amit Thaper as Investment Director in April 2017. Dr Thaper, who practiced as an orthopaedic surgeon with the NHS for several years, will use his knowledge and expertise to help Millbrook to respond proactively to the challenges presented by an ageing population and to enhance service users’ experiences.
Established in
Switzerland-based financial data expert SIX is launching a new service covering over 30,000 Financial Instruments (Securities) in connection with Marijuana Related Businesses (MRB) following the success of their SIX Sanctioned Securities Monitoring Service.
The service comes at a time when many financial institutions grapple with the complex and changing legal landscape around marijuana. In the USA, for example, it is has been legalised in some states but is still criminal on the federal level. As a result, in some states MRB are able to raise money via the capital markets – enabling investors to access MRB-linked securities for the first
Foresight Group (Foresight) has invested a further GBP4 million of growth capital into portfolio company ONFAB to fund the acquisition of Lancashire based designer and manufacturer of clean air containment products, Envair Holdings Limited (Envair).
ONFAB produces flexible clean-air enclosures and consumables, designed and manufactured in-house from sites in Cheshire and Spain. Founded in 2005 by Oliver Nulty, ONFAB received investment from the GBP60 million Foresight Regional Investment LP fund in September 2017 to facilitate a majority buyout of the business. Since then, with an enlarged team and renewed focus on sales, margins and new products, it has grown by
Renaissance Capital, an emerging and frontier markets investment bank, has appointed Sofya A Donets, CFA as Director, Russia & CIS Economist.
Donets will be leading the firm’s macroeconomic analysis of Russia and CIS countries in the research department. She will be based in Moscow and report to Charles Robertson, Global Chief Economist.
Charles Robertson, Global Chief Economist, Renaissance Capital, says: “While most are focused on Arsenal, Real Madrid or Barcelona, Renaissance Capital has made the best transfer of the summer. We are delighted to welcome Sofya from the Central Bank of Russia to the Firm and to the research team. She
SANNE, a provider of alternative asset and corporate business services, has appointed a new director and head of business development for Mauritius and India. The move comes following SANNE’s announcement last year to expand the business and open an office in Mumbai, India.
Based in SANNE’s Mauritius office, Varounen Goinden will have a key role in developing and driving the business development strategy for Mauritius and India while continuing to deliver on SANNE’s expansion strategy in the region by generating new business leads and growing the brand.
With more than 12 years’ of industry experience, Goinden joins SANNE from the
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