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San Francisco Equity Partners (SFEP), a private equity firm exclusively focussed on expansion-stage companies in the consumer industry, has appointed Mary Kayser as Chief Financial Officer (CFO) and Chief Compliance Officer (CCO).
Kayser brings more than 20 years of finance, accounting, tax and operations experience to SFEP. She most recently served as CFO and Chief of Compliance at VMG Partners, a consumer-focussed private equity firm with more than USD2 billion in assets under management.
Kayser is a graduate of the University of Southern California.
Wynnchurch Capital has completed the acquisition of Midland Metal Mfg (Midland) and will combine the business with Anderson Metals (Anderson).
Midland is a distributor of fittings, valves, clamps and related products/accessories to a variety of industrial end-markets. Vince Hodes, the CEO of Midland, is investing alongside Wynnchurch and will become CEO of the combined company.
“We are excited to partner with Vince and his team to build on Midland’s legacy as a market leader. We share the same set of values Vince has instilled in the company’s culture and look forward to supporting the company’s growth plans,” says Greg
Independent fund administrator Centaur Fund Services has joined the North American Fund Administration Association (NAFAA), an association that represents the alternative investment fund administration industry.
“We are thrilled to have Centaur join our association.” says NAFAA founding director, Chris Meader (pictured). “November will see the launch of the NAFAA working groups whose initial focus will be to discuss and define best practices and standards in the industry. We are pleased to have a global firm such as Centaur collaborating with our existing members in promoting the best interests of the alternative fund administration industry.”
Des Johnson CEO of Centaur Fund
Pamlico Capital (Pamlico) has invested in TRG Screen, a provider of enterprise subscription management software.
Terms of the transaction have not been disclosed.
With Pamlico’s backing, TRG Screen will accelerate its investment in its unique portfolio of spend and usage capabilities, adding new solutions that bring breadth and depth to the subscription lifecycle, and continuing expansion into new expense categories and client segments.
TRG is partnering with Pamlico at an exciting time. Following several years of very strong growth, plus the acquisition of Priory Solutions in 2016 and Screen Group earlier this year, the Company has built a
By Arne Bolch, GSK Luxembourg – The 2016 Paris agreement on climate change as well as the United Nations 2030 Agenda for Sustainable Development and its Sustainable Development Goals may until recently not have been high on the agenda of asset management professionals. This may be about to change.
In the spirit of the agreement and the UN agenda, measures taken at European level have identified (or rather stated) a need for Europe’s financial system to (i) contribute to sustainable and inclusive [economic] growth as well as to (ii) strengthen financial stability by incorporating environmental, social and governance (ESG) factors
On 23 August 2018, Luxembourg’s regulator, the CSSF, published a Circular 18/698 which set out to codify the organisation, substance and authorisation of Luxembourg investment fund managers. Amongst others the Circular replaces Circular 12/546, which detailed the CSSF’s expectations for UCITS managers and also served as the benchmark for AIFMs under the AIFM Directive.
This approach to further clarify and summarise what is expected of a Luxembourg management company is helpful according to Daniela Klasen-Martin (pictured), Managing Director and Country Head, Crestbridge Luxembourg, a leading independent administration, management and corporate governance solutions business.
“The Circular is a summary of practices
Private equity is sitting astride a mountain of dry powder, which currently stands at USD1.14 trillion according to Preqin*. Fund raising has never been easier but with so much money floating around, valuations are being driven upwards.
This is placing enormous importance on private equity managers planning for exits. How can they be sure that the target company will continue to grow and generate an attractive earnings multiple at exit when the valuation is already high at entry?
“The multiples being asked for right now are exorbitant; it used to be common to pay 10 or 11X EBITDA but in
Since Brexit has become a reality, UK managers have been putting in place contingency to protect their businesses, creating opportunities for other European financial centres including Luxembourg. Once the UK leaves the EU next year neither the UCITS or AIFMD regimes will apply and UK entities will no longer be able to manage and market their funds in the EU.
The risk to losing access to the single market is unacceptable to the UK fund manager community and in that regard Luxembourg is a really viable alternative, according to James Burke (pictured), Head of Apex Europe, Apex Fund Services (Ireland).
By Kavitha Ramachandran – Brexit is a major political disruptor and, despite the uncertainties, it brings tremendous opportunities. London is a key financial centre and it is no surprise that while we wait for the final negotiations to fall in place, financial industry players have started taking action to create a presence on the Continent to stay competitive and continue to attract capital. As a result, the asset management industry is seeing a shift from the UK to the Continent which is creating opportunities for countries in the EU27.
Simultaneously, digitalisation is gaining pace due to changing investor profiles and demands, cost
Luxembourg’s Reserved AIF (RAIF) has completely changed the Grand Duchy’s alternatives marketplace, from a fund structuring perspective. Over the last three decades it has become the de facto onshore jurisdiction for UCITS funds, but this has started to change in the last few years.
According to EFAMA, total AUM in AIFs grew by 15.1 per cent year-on-year to reach EUR673 billion at the end of 2017, while UCITS’ assets increased by 11.9 per cent over the same period.
As PwC points out in its 2018 Barometer Report, assets held by both AIF and UCITS funds in Luxembourg reached EUR4.1 trillion
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