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Boston-based investment firm Berkshire Partners has appointed Blake Gottesman and Sam Spirn as Managing Directors effective 1 January, 2018. They join the 22 current Managing Directors of Berkshire in managing the firm and its affiliated investment funds.
The firm’s 24 Managing Directors have an average tenure of 17 years with the firm.
Gottesman originally joined Berkshire in 2007 as a Summer Associate and returned to Berkshire in 2009 after graduating from business school. Gottesman has extensive experience with Berkshire’s consumer products and retail, communications, and industrial companies. Prior to joining Berkshire, Gottesman served as Deputy Chief of Staff at the
The total value of funds business in Guernsey grew by approximately GBP20 billion over the 12 months to the end of the third quarter of this year.
Figures from the Guernsey Financial Services Commission (GFSC) show that, at the end of September 2017, the net asset value of all funds under management and administration in Guernsey stood at GBP269 billion – an 8 per cent increase on September 2016. The figures also confirm two consecutive years of growth, with the net asset value of funds growing by nearly GBP25 billion between Q3 2015 and Q3 2016.
The annual increase was
By Nick Bayley (pictured), Duff & Phelps – It’s 3 January 2018. Hallelujah! Christmas has been and gone. The festive cheer over for another year. But there’s one more gift welcoming everyone as they head back to their offices: MiFID II has officially come into effect.
What now you ask? What should you focus in on as a matter of priority, as your funds business prepares for life under this new regime?
Regulators don’t like talking about regulatory forbearance but there has already been a certain amount of this with respect to MiFID II. That said, there are certain regulatory
BioNTech AG, a biotechnology company pioneering individualised cancer immunotherapy, has completed a USD 270 million Series A round of financing. The Company previously completed a seed round fundraising in 2008.
The Series A round was led by the Redmile Group and joined by Janus Henderson Investors, Invus, Fidelity Management & Research Company and several European family offices. The Struengmann Family Office, an existing investor in BioNTech, also participated in the capital raise.
BioNTech will use the capital to further advance its clinical pipeline of individualized immunotherapies covering a number of new approaches including mRNA and CAR-T / T-Cell receptors for
Shore Capital Partners (Shore Capital) has sold The Stepping Stones Group (SSG) to Five Arrows Capital Partners (Five Arrows), with Shore Capital retaining a minority stake.
The Stepping Stones Group is a provider of therapy and education solutions to children with special needs and autism in educational settings. Led by CEO Anthony Rintala, SSG has approximately 900 clinicians providing services to over 300 school districts and 42,000 children across more than 20 states in the US.
Five Arrows Capital Partners is the North American corporate private equity business of Rothschild Merchant Banking (“RMB”), the investment arm of Rothschild &
Edison Partners, a growth equity investment firm, has led a new USD42 million growth investment in digital personal finance platform MoneyLion. The company will use the funds to expand its product line.
Edison invested USD15 million of the USD42 million follow-on investment. In total, Edison has now invested USD27 million in MoneyLion and the company has raised over USD67 million in equity financing. MoneyLion has experienced nearly 100 percent compound annual growth since Edison’s initial investment in November 2016.
Financially underserved consumers spend an unthinkable USD173 billion annually to manage their day-to-day financial lives, including USD97 billion on short-term credit
The last couple of years have been a period of recovery for the EU. Since Q2 2016, GDP growth has been on an upward trajectory, having risen by 2.3 per cent year-on-year, according to Eurostat. That is even stronger than the US, which, by comparison, grew by 2.2 per cent.
A rising tide lifts all boats and in that respect, Italy has seen rising valuations and multiples, but it is fair to say that the country is still slightly lagging behind its EU neighbours including Germany and France.
Not that this is a bad thing. Indeed, for private equity
Following on from the GP survey it produced earlier this year, SEI once again partnered with Preqin, this time to garner the views of investors to understand how they approaching alternative asset investing.
Equity investments made through the ENVESTORS investor network have surpassed GBP100 million in value.
To date, ENVESTORS has facilitated investments in 212 companies, with multiple funding rounds resulting in over 810 deals in those businesses. The average investment secured by these companies was around GBP475,000, with investors making an average investment of GBP40,000.
The company that secured the investment that broke ENVESTORS’ GBP100m threshold is CARELINELIVE, a cloud-based management platform for the domiciliary (home care) industry. CARELINELIVE successfully raised GBP330,000, the maximum funding required to support its platform. CARELINELIVE enables a care agency to run their entire business from
Willkie Farr & Gallagher has appointed Brant K Brown ,an associate general counsel at the Financial Industry Regulatory Authority, Inc. (FINRA), as counsel in the firm’s Washington office.
Brown’s hire is the latest regulatory addition to the firm’s Washington office in recent months, following former Chairman (and Director of the Office of Enforcement) of the Federal Energy Regulatory Commission Norman C. Bay and former Acting General Counsel and Deputy General Counsel for the Department of the Treasury Priya R. Aiyar, who joined the firm in September.
“Brant’s strong reputation and experience bring added depth to our team of asset management
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