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New research from Luxoft, a global technology services and consulting partner, has revealed that Tier one, Tier two and Tier three investment banks are overconfident about the EU’s new Securities Financing Transactions Regulation (SFTR), which comes into force next April.
Almost all (99 per cent) senior compliance professionals responsible for implementing the regulation are confident they will meet the requirements, yet Luxoft’s Regulatory Outlook Report shows that this confidence may be misplaced.
Some 98 per cent of Tier one, Tier two and Tier three investment banks will be relying on systems and process infrastructure used for past regulations such
Barnes & Noble is to be acquired by funds advised by Elliott Advisors (UK) Limited (Elliott) for USD6.50 per share in an all-cash transaction valued at approximately USD683 million, including the assumption of debt.
Elliott’s acquisition of Barnes & Noble, the largest retail bookseller in the United States, follows its June 2018 acquisition of Waterstones, the largest retail bookseller in the United Kingdom. James Daunt, CEO of Waterstones, will assume also the role of CEO of Barnes & Noble following the completion of the transaction and will be based in New York.
The USD6.50 per share purchase price represents a
The first wave of middle-office outsourcing deals came on the heels of the the credit crisis in 2008. Given this timing, it should come as no surprise that the origin of these first generation deals was driven by cost savings. At the time, middle-office operations was viewed as a necessity but also a cost centre.
SANNE, a provider of alternative asset and corporate business services has appointed Malcolm Hassan as managing director of business development and marketing.
Based in SANNE’s London office, Hassan will oversee business development alongside brand & market positioning across its global platform.
Hassan will focus on achieving SANNE’S growth strategy of supporting the ambitions of fund managers with investment strategies that span the alternatives asset class through its professional services offering and jurisdictional reach.
With more than 23 years of industry experience, Malcolm joins SANNE from RBS where he was responsible for building and growing RBS’ Funds Banking business to be
Private equity firm The Riverside Company has invested in Champion Healthcare Technologies (Champion), a SaaS provider that enables hospitals to manage surgical implants throughout their life cycle – from receipt, inventory storage and usage to post-surgical tracking and reporting.
Champion is combining with HemaTerra Technologies (HemaTerra), a provider of SaaS-based solutions for independent and hospital-based blood collection centers and plasma collection centres. Riverside made an investment in HemaTerra earlier this year.
Champion’s industry-leading solutions are used by many of the largest and most sophisticated health systems in the US. Through deep integration with vendors, system-wide visibility into implants and analytics,
Hillhouse Capital Management is partnering with the management team from Scottish whisky producer Loch Lomond Group to acquire the business from Exponent Private Equity.
Since the original buyout of Loch Lomond from the Bulloch family in 2014, the company has invested significantly in growing its portfolio of brands, distillery and bottling infrastructure, global distribution platform, and management team. The business now generates about 70 per cent of its revenue from more than 100 international markets, versus less than 10 per cent at acquisition.
Loch Lomond has a rich heritage dating back to the early 19th century and is an
Fortino Capital Partners has invested in Maxxton, an all-in one software solution developed for vacation and short-term rental managers.
Maxxton, which employs 200 people, is headquartered in Middelburg, the Netherlands and has worldwide offices. Fortino Capital will assist the Maxxton management to further expand internationally and strengthen their current presence in vacation rentals, holidays parks and serviced apartments.
Maxxton is a software as a service (SaaS) solution to simplify the reservation processes for hospitality managers. Its enterprise resource planning (ERP) platform caters specifically to the needs of the accommodation rental sector. Maxxton automates time-consuming manual work, increases efficiency and reduces
CVC Capital Partners, through its CVC Fund VII and CVC Growth Partners, is to make a majority investment in New York-based technology firm Vitech Systems Group, a provider of cloud-based financial administration solutions.
Vitech is a global firm of over 1,200 professionals that serves many of the world’s leading pension, insurance and investment organisations. Vitech’s software, V3, is available as a cloud-based solution via Vitech’s AWS-based V3locity platform.
Frank Vitiello, Vitech’s CEO, says: “This exciting partnership with CVC brings us the capital, market access, international reach and institutional expertise we need in order to maintain our current growth trajectory
Goodwin’s Private Investment Funds team has advised Advent International on the successful completion of its fundraising for Advent International GPE IX Limited Partnership (GPE IX).
The fund reached its hard cap of USD17.5 billion (EUR15.6 billion) and surpassed the USD16 billion (EUR14.3 billion) target after six months in the market. Advent’s previous global fund, GPE VIII, closed on USD13 billion in 2016.
GPE IX will pursue the same proven strategy as Advent’s eight prior Global Private Equity funds, investing in buyout, corporate carve-out, public-to-private and growth equity transactions, primarily in Europe and North America and selectively in Asia and
Private Client Resources (PCR) has secured a ‘major’ investment from private equity firm Public Pension Capital (PPC) alongside company management.
PCR’s total-wealth aggregation utility specialises in delivering data covering 100 per cent of ultra-high net worth portfolios – including the hardest-to-aggregate illiquid and statement-based assets.
PPC’s investment will fund business growth and provide liquidity to shareholders, allowing PCR to invest in expanding sales, marketing, product development, its geographic footprint and investment in the company’s ground-breaking data sharing architecture.
“Two years ago, we set out to transform PCR from a respected provider of family-office reporting solutions into a broader
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