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The Jersey Financial Services Commission (JFSC) has reported a sustained strong uptake in the Jersey Private Fund (JPF), with 100 structures being formed since its launch less than one year ago.
The 100th JPF was registered by the JFSC last week (2 March), underlining the interest in the product since it was launched in mid-March last year.
The latest addition to Jersey’s suite of fund structuring options, the JPF was introduced to provide institutional and professional investors with a more streamlined and fast-track regime with tailored ongoing regulatory requirements, under which funds for up to 50 investors could be
Hercules Capital has entered the commercial finance space through a strategic acquisition of Gibraltar Business Capital (Gibraltar), a provider of working capital to small and mid-market businesses via asset-based loan and factoring solutions.
Gibraltar will be held as a portfolio company of Hercules. Gibraltar will continue to operate as an independent senior secured asset-based lender to select small and mid-market businesses and operate under the Gibraltar Business Capital brand. Gibraltar and all its existing employees will remain at its headquarters in Northbrook (Chicago), Illinois. Gibraltar was formed in 2010 when Scott Winicour led the management buyout of Gibraltar Financial Corporation,
Tricida has entered into a USD100 million venture debt facility with Hercules Capital, a specialist in customising debt financing for companies in the life sciences and technology-related markets.
“This financing provides Tricida with significant financial flexibility as we continue the development of TRC101 for the treatment of metabolic acidosis in chronic kidney disease patients,” says Geoff Parker, chief financial officer of Tricida. “We are pleased to be working with the Hercules team which has a long history of supporting innovative life science companies.”
“Hercules is pleased to enter into this financing partnership with Tricida at this important stage as
NorthEdge Capital (NorthEdge) has completed the sale of Jigsaw24, a leading provider of IT solutions to the corporate, creative and education sectors, to private equity firm Alcuin Capital Partners.
Based in Nottingham, Jigsaw24 is a B2B reseller, integrator and managed service provider of Apple technology, Adobe and Avid software.
The company, which counts the likes of Barclays, Disney, Channel 4, BBC Sport and News UK among some its clients, has achieved strong sales growth of over 120 per cent (GBP125 million in the year to May 2017) under the stewardship of NorthEdge – while also benefitting from a 25-year
Private equity house Key Capital Partners (KCP), which specialises in the smaller buy-out market, is continuing to grow with the second appointment in a month at its Leeds office.
Amish Arya joins KCP as an investment executive having previously worked as a corporate finance executive at Garbutt and Elliott. Prior to that, he spent three years with Deloitte where he qualified as a Chartered Accountant.
KCP have completed four deals in the last twelve months investing circa GBP30m in a range of fast growing, ambitious businesses including the largest online construction materials retailer, CMO, and York based intolerance food
European mid-market private equity firm Idinvest Partners has appointed Guillaume Cavalin as Legal Director. He will report to Sylviane Guyonnet, Partner and COO at Idinvest Partners.
Cavalin will be involved in the structuring and the fundraising of investment vehicles in France and abroad, and will also supervise Idinvest Partners’ legal topics. His appointment highlights Idinvest’s continued international growth, with Guillaume’s practice extending to both French and foreign limited partners, including institutional investors, corporates and family offices. In addition, Guillaume will help implement Idinvest’s overseas projects.
Cavalin joins Idinvest Partners from his role as Senior Associate at Jones Day (Paris),
Mid-market private equity investor Equistone Partners Europe (Equistone) is to acquire a majority stake in Karavel-Promovacances Group and FRAM Group from LBO France.
This investment will be made alongside Alain de Mendonça and Folco Aloisi (founders of the Karavel-Promovacances Group), Cyrille Fradin (the Group’s Financial and Risk Director), as well as some additional FRAM and Karavel-Promovacances directors and employees. The deal will have no impact on the existing operational management of Karavel-Promovacances and FRAM.
Founded in 2000, Karavel-Promovacances is France’s leading online tourism group with more than 7 million unique visitors across all of its platforms. The Group owns
Timothy Graf, head of macro strategy for EMEA at State Street Global Markets; Antoine Lesné, head of EMEA strategy and research for SPDR ETFs; and Elliot Hentov, head of policy and research – official institutions for EMEA at State Street Global Advisors, offer their views on the Italian general election results…
Graf says: “After 2017 ultimately proved benign for Eurozone political risk, the unexpected strong performance of the Five Star Movement (M5S) brings these threats very much back to the forefront. Though M5S officials have toned down anti-euro rhetoric in recent months, the euro-scepticism within the bloc could ultimately re-introduce
Transparency Capital has launched a new platform which is aiming to provide private investors with access to major European private equity fund managers for just EUR150,000.
The concept of Transparency Capital SCA is to pool private investors’ demand by means of a bond issue in order to attain the minimum investment threshold required by the private equity funds. These private investors can then have access to the performances of the best funds. Furthermore, Transparency Capital charges annual management fees of only 0.7 per cent, thus allowing the subscriber to benefit from practically all the performance of the fund selected.
Kuwait-based Global Investment House (Global) has entered into an asset management agreement with a regional group to manage a portfolio worth USD90 million by its Special Situations Asset Management team.
Global is mandated to manage the diversified portfolio for wind-down while promoting value enhancement initiatives to attain the ultimate objective of maximising realisation proceeds over the course of the mandate.
Abdul Hamid Mihrez (pictured), CFA, Executive Vice President, Special Situations Asset Management, says: “We are excited to engage our new mandate since we began offering this service in 2013. The mandate marks the team’s continued efforts to grow this
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