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By Dr Andy Sloan (pictured), Guernsey Finance – Guernsey has been identified as an ‘emerging global contender’ in green finance. In a climate currently led by the global commitments made at the United Nations COP 21 conference in 2015, Guernsey has identified green issues as a key strategic objective.
The island is rapidly becoming the “go to” international finance centre for green finance. The introduction by the regulator, the Guernsey Financial Services Commission, of the world’s first regulated green fund product, the “Guernsey Green Fund” puts us at the forefront of green finance development.
The objective of the GGF is
By Andrew Carey, Locate Guernsey – Guernsey makes no excuses for wanting to attract fund managers to the island and evolve into more than simply an alternative funds jurisdiction. It is an explicit position for us, as opposed to a “nice to have”.
Guernsey does have high-quality managers already operating from the island, with names including Cinven, Permira and Terra Firma, and is also working closely with the Guernsey Investment Fund Association to try to increase that number. The size of the manager community is already quite significant, with funds one of the best performing sectors in the island’s well-rounded
Law firm Paul Hastings is advising Monaco Telecom on its agreement with MTN to acquire the entire issued share capital of MTN Cyprus, for net sale proceeds of EUR260 million.
MTN Cyprus is the fastest growing mobile and fixed operator in Cyprus with more than 400,000 customers and 2017 revenues of EUR123 million.
Monaco Telecom is majority owned by NJJ, the investment vehicle of Xavier Niel, one of France’s most prominent business leaders and an investor in telecommunications and technology ventures for 25 years.
Paul Hastings has previously advised NJJ on its EUR3.5bn acquisition of a majority stake in
Private equity firm TA Associates has completed a minority investment in Prudent Corporate Advisory Services (Prudent), an independent distributor of mutual fund and other wealth products in India.
Financial terms of the transaction have not been disclosed.
Founded in 2001, Prudent provides personal and corporate investment planning services through the distribution of mutual funds, bonds, broking and insurance products. The company operates through its network of over 10,000 Independent Financial Advisors (IFAs). Prudent provides its IFA partners with training and development services, technology platforms to grow and manage their client-base, back-office services, and sales and marketing support. The company
An affiliate of private equity firm HIG Capital (HIG) has sold Kondor Limited, a specialist provider of category management solutions for audio and mobile accessory products into the retail and mobile network channels in the UK and Europe, to DCC Technology.
Terms of the transaction have not been disclosed.
Headquartered in Dorset, England, Kondor distributes audio and mobile accessory products to a broad range of e-tail, retail and mobile operator customers. HIG invested in Kondor in 2014, and has since overseen a full reorganisation of the business. HIG worked in partnership with Kondor to professionalise back office systems, develop
Henkel has signed an agreement to acquire Aislantes Nacionales, a specialist in the Chilean tile adhesive and building materials market.
Aislantes Nacionales is a privately-owned company specialised in manufacturing and marketing a wide variety of products in the building materials market. The portfolio includes ceramic tile installation systems, mortars for finishing floors and walls, elastic sealants and insulation systems. In the fiscal year 2017, Aislantes Nacionales SA generated sales of about EUR80 million. The company is based in Santiago de Chile and employs around 220 people at a local production site.
The transaction is in line with Henkel’s strategy
Gide has advised Renault on the renewal of its strategic partnership with OYAK in Turkey, extending their joint venture relationship.
The agreements signed on 26 June 2018 regulate the new terms of the joint venture relationship, including the manufacturing by OYAK-Renault of Renault and Dacia vehicles, their parts and spare parts, as well as their commercialisation by MAİS on the Turkish market.
The agreements bring no change to the shareholding structure of the joint venture companies: Renault still holds 51 per cent and OYAK 49 per cent of the share capital of manufacturing entity OYAK-Renault, while OYAK holds 51
Steven Cameron, Pensions Director at Aegon, comments on the FCA’s Investment Platform Market Study Interim Report…
We welcome the FCA’s largely positive Investment Platform Market Study findings and the proportionate and targeted set of remedies it is now considering. Platforms continue to rapidly replace traditional life companies at the heart of financial services and we are pleased the FCA has found competition is working well for most platform customers.
As in most areas of financial services, advisers play a key role in supporting customer decision marking and we welcome the distinction between advised and D2C platforms and the remedies
Blackstone’s Strategic Capital Group and Goldman Sachs Asset Management’s Petershill program have acquired a minority stake in Francisco Partners, a technology-focused private equity firm.
The investment provides Francisco Partners with balance-sheet capital to continue to develop its strong platform while increasing commitments to its own funds, and strengthening its alignment with limited partners. Terms of the transaction were not disclosed.
Dipanjan “DJ” Deb, Co-founder and CEO of Francisco Partners, says: “Since our inception, we have always prided ourselves on the strength of our relationships. We have the opportunity to work with great management teams who create solutions across all
Coinsilium Group Limited, a financer of early-stage blockchain technology companies, has appointed Malcolm Burne as a project advisor to TerraStream, its Gibraltar-registered wholly-owned subsidiary, with immediate effect.
Burne has a long-standing career in financial markets in the UK, Australia and Canada including directorships of a number of listed mining companies. He has led various successful natural resource ventures and has also built Ambrian Capital Plc into London’s premier natural resource broker at the time. He is currently Founder Chairman of Golden Prospect Precious Metals, a closed-end fund, and advisor to Altus Strategies and Arlington Group Asset Management.
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