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Hogan Lovells has advised Monzo, a UK digital, mobile-only bank, on its biggest ever crowdfunding round. Monzo has just published a prospectus in connection with a GBP20 million raise from its existing customers.
This follows the close of GBP85 million of funding in October this year from General Catalyst, Accel and existing investors, on which Taylor Wessing advised.
The Hogan Lovells team was co-led by London Corporate Partners Richard Diffenthal and Daniel Simons, working alongside Monzo relationship Partner Jon Chertkow, assisted by Nagham Al-Turaihi and Peter Finch. The Taylor Wessing team was led by corporate technology specialists, Adrian Rainey
Private investment firm Atar Capital has completed the acquisition of Microcel Corporation, a distributor of technology products in Canada, partnering with Rick Henry, Founder of Microcel.
Henry will remain a shareholder and will continue as Microcel’s President and CEO. The transaction was officially closed on Monday 19 November 2018.
“We are excited to partner with Rick and the Microcel team on this transaction. We see tremendous opportunity in Canada’s growing retail and e-commerce markets,” says Cyrus Nikou, Founder and Managing Partner at Atar Capital. “Microcel’s best-in-class portfolio of brands within the Canadian consumer electronics space, complimented by Atar’s direct-to-consumer,
Duff & Phelps has appointed Nadine Stuttle as a managing director in the Legal Management Consulting Practice (LMC), based in Zurich.
Stuttle brings over 18 years of experience advising intellectual property (IP) and legal clients on technology implementation, global IP management and operational improvements. She will draw on this expertise to lead and expand the LMC practice in Switzerland and EMEA.
Hassan El Asraoui, Managing Director and Global Head of the Legal Management Consulting practice at Duff & Phelps, says: “As legal and compliance business environments evolve, clients strive to increase efficiency and demonstrate measurable value, and they look
NWT, a Mauritius-based full service fund administration firm that forms part of the AXYS group of companies, has selected the Pacific Fund System’s PFS-PAXUS fund administration system for its third-party fund admin business operations.
PFS-PAXUS offers a complete back-office fund accounting, portfolio valuation, fund pricing and transfer agency administrative solution that includes regulatory reporting, on a single, fully integrated system that satisfies the needs of the most sophisticated fund administrators.
NWT provides a full array of fund administration services for both open and closed-ended collective investment schemes including hedge funds, private equity investment vehicles and venture capital funds.
Hermes Investment Management, the USD46.9 billion manager, has appointed Nachu Chockalingam as Senior Emerging Market Debt Portfolio Manager.
Based in London, Chockalingam reports into Fraser Lundie, Co-Head of Credit. She will help manage the performance and risk of existing emerging market allocations across all liquid credit strategies. This includes the Hermes Unconstrained Credit Fund, which was launched in May 2018 and has since raised USD386 million. The fund invests across the global liquid credit spectrum, which includes emerging market debt, along with investment grade, high yield, convertibles, asset-backed securities and loans.
Chockalingam joined Hermes from Jupiter, where she worked
Lotus Clinical Research (Lotus) of Pasadena, California, has entered into a private equity partnership with DFW Capital Partners and has added Jeffrey Kinell and Kurt Brykman to its board of directors in conjunction with the investment.
Kinell was previously the CEO of Bracket Global, a leader in the clinical trials technology space, and CEO of CRI Lifetree, a leader in clinical trials for special populations (subsequently acquired by PRA). Brykman was previously a divisional president of PAREXEL International, the third-largest CRO worldwide, and COO of Medpace, a specialty CRO which provides expertise in executing scientifically challenging trials.
Lotus is an internationally
Palatine Private Equity has completed the secondary buyout of CET UK, a specialist provider of infrastructure and property assurance services.
Palatine has taken a majority stake in the company, which employs over 470 staff and was established in 1989 in Castle Donington. The deal was supported by debt and working capital facilities from Clydesdale and Yorkshire Bank Acquisition Finance and Beechbook Capital.
The property assurance arm of the business provides specialist claim response, property risk investigation and issue mitigation services for the UK insurance claims sector. CET’s infrastructure division operates from a nationwide network of regional offices and UKAS
SteelEye, a compliance technology and data analytics firm, has completed a GBP2.9 million fundraise extension led by capital markets venture capital firm, Illuminate Financial, bringing the total seed funds raised to GBP5.7 million.
The funding will help drive the expansion of SteelEye’s products and services and its ability to serve a growing client base during a time of rapid regulatory change.
SteelEye’s innovative cloud based solutions helps clients to solve compliance challenges for MiFID II, MAR, EMIR, Dodd Frank and other international regulatory obligations. SteelEye brings together order, trade, market and reference data along with communications (electronic and
Independent fund research company, Monterey Insight, has confirmed the Aztec Group is the leading fund administrator in Jersey for the third consecutive year, administering USD126.0 billion net assets and 181 funds.
The annual Monterey Report provides a comprehensive analysis of the Jersey funds industry and its service providers by giving an insight on both the number of funds advised and the total assets under management. It revealed 2018 was another strong performance for the island, as fund assets administered in Jersey increased to USD391.7 billion at the end of June 2018, a 20.9 per cent increase on 2017. Aztec Group
According to the Monterey Fund Report 2018, Mourant has once again maintained its leading position as the go-to legal adviser in Jersey’s funds industry, advising on over 46 per cent of all funds by market share of assets.
The firm, which has held the dominant position in Jersey for 19 consecutive years, advised on 791 funds in the last year with an overall value of USD361 billion and leads on all major tables, including 13 of the 18 categories. The report also highlighted that fund assets serviced in Jersey overall had risen to USD411.1 billion at the end of June
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