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UCITS and AIFs recorded net sales of EUR28 billion in Q2 2018, a significant decrease on the EUR222 billion of sales seen in Q1, according to the latest European Fund and Asset Management Association (EFAMA) Quarterly Statistical Release for the European investment funds industry.
Multi-asset funds and other funds registered net inflows of EUR25 billion and EUR30 billion, respectively. Equity, bond and money market funds, meanwhile recorded net outflows of EUR0.3 billion, EUR7 billion and EUR19 billion, respectively.
UCITS registered net sales of EUR15 billion in Q2 2018, compared to EUR171 billion in Q1, with long-term UCITS (UCITS excluding money market funds)
Global law firm K&L Gates has appointed James Cross as a partner in the private equity and corporate practice of its London office.
Cross joins K&L Gates from Reed Smith LLP, where he co-founded and served as the coordinator of the firm’s dedicated London private equity practice.
Cross’ broad international corporate practice spans a range of industry sectors with a particular focus on private equity. He has extensive experience acting both for investors and management, including on buy-outs, auction sales, secondary investments, restructurings, and acquisitions. Cross assists clients on domestic and cross-border matters, with particular experience advising Chinese and
Ropes & Gray has advised Oberland Capital on the successful closing of its second royalty and credit opportunities fund, Oberland Capital Healthcare II, which announced that it closed at its hard cap of USD800 million in capital commitments on 6 September.
Fund II will target investments between USD20 million and USD150 million with a focus on commercial stage or near-commercial stage biopharmaceutical, medical device and diagnostic companies and royalty-bearing products. Investors in Fund II include public and corporate pension plans, financial institutions, foundations and endowments located in the United States, Europe and the Middle East.
Founded in 2013, Oberland
O’Melveny has represented Solace Capital Partners in acquiring a majority interest in Fabcon Holding Corporation, a manufacturer of precast, pre-stressed concrete wall panels, from Platinum Equity, which acquired Fabcon in 2016.
Fnancial terms of the deal have not been disclosed.
Fabcon’s structural precast wall panels are used primarily in the construction of warehouses and distribution centres as well as mixed-use office, industrial, data centres and retail facilities. Fabcon serves the eastern half of the US through its four strategically located manufacturing facilities in Minnesota, Ohio, Pennsylvania and Kansas.
Solace Capital Partners is a private investment firm focused on
AltaReturn, a provider of integrated software solutions for the private equity, venture capital, real estate and family office communities, has launched a new version of its Business Intelligence (BI) solution.
By integrating with Microsoft’s Power BI solution, AltaReturn has brought to the private markets a set of tools for GPs to understand every aspect of their business. From the deal team to investor relations to the back office, every function or role can take advantage of Microsoft Power BI’s analytical tools built right into AltaReturn’s Portfolio Monitoring, CRM and Accounting solutions.
“AltaReturn’s Business Intelligence solution helps us analyse data
Grasshopper Solar, a Canada-based solar energy company, has made a USD80 million investment in Setouchi Koken’s Iizuka Solar Plant located in Fukuoka, Japan.
This 21.6MW ground mount project will utilise 65,455 solar panels, generate 26,136 MWh of clean energy and offset 19,451 tons of carbon emissions per annum.
The Iizuka Power Plant will be developed by Setouchi and its Japanese partners with construction commencing in Q4 2018, and is expected to achieve commercial operation by Q3 of 2020. This project, once completed, will participate in the country’s Feed-in Tariff program with a 20-year JPY36/kWh contract awarded by METI (Ministry of
Private equity and venture capital managers have struggled to keep pace with the bull market in public equities over the last decade, and the level of outperformance for is on the decline, according to new fund performance data for Q4 2017 released by PitchBook.
This lacklustre performance is more exaggerated for VC funds, with even top-quartile VC funds frequently failing to beat the market.
PitchBook’s standalone performance measurement product PitchBook Benchmarks uses public market equivalent (PME) metrics to assess the historical performance of PE and VC funds relative to public equities.
“The S&P 500 has posted gains
Strata Fund Solutions (Strata), a fund service administrator for venture capital, private equity and other alternative asset managers and allocators, has closed a significant growth equity investment from FTV Capital.
Strata will continue investing in technology, product and client-centric service enhancements to deliver highly customised client solutions. Jared Broadbent, Darren Benson and Nathan Rees, Strata’s co-founders and managing partners, will continue their leadership of Strata and remain significant shareholders in the company. As part of the transaction, FTV Capital managing partner Brad Bernstein and partner Kyle Griswold will join the founders on the company’s board of directors. StepStone Group, a
Funds managed by Ares EIF, Ares Management’s power and infrastructure strategy, have closed on the acquisition of substantially all of the assets and business interests of Paradigm Energy Partners from an affiliate of Stonepeak Infrastructure Partners.
The Paradigm assets will be combined with Ares EIF’s adjacent Van Hook Gathering System, which it acquired in 2015, to form a premier regional midstream platform serving the core of the Williston Basin in North Dakota, with additional reach into the prolific Eagle Ford Shale in South Texas. The combined entity, which will continue to be known as Paradigm, will continue to be operated
An affiliate of private equity firm HIG Capital (HIG) has acquired Recochem from an affiliate of Swander Pace Capital, in partnership with Recochem management. Terms of the transaction have not been disclosed.
Founded in 1951 and headquartered in Montreal, Quebec, Canada, Recochem is a global leader in manufacturing, marketing and distributing aftermarket transportation and household fluids. The Company’s product portfolio spans branded, private label and bulk offerings and includes coolant, windshield wash fluid, diesel exhaust fluid and a broad range of household fluids and industrial chemicals. The Company generates approximately USD500 million Canadian Dollars (“CAD”) of net sales annually, serving
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