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Euronext has expanded its ‘Federal model’ with the acquisition of 100 per cent of the shares and voting rights of The Irish Stock Exchange (ISE) for EUR137 million.
The acquisition is in line with Euronext’s long term strategy, and sees Ireland become its sixth core European country. Euronext intends to position ISE as centre of excellence for the Group in the listing of debt, funds and ETFs.
Stéphane Boujnah (pictured), Chief Executive Officer and Chairman of the Managing Board of Euronext, says: “The Irish Stock Exchange joining Euronext represents a major milestone in the expansion of Euronext’s federal model since its IPO.
Ardian, an independent private investment company, has entered into exclusivity with some family shareholders and Tikehau Capital to acquire a controlling stake into Les Dérivés Résiniques et Terpéniques (DRT).
The proposed transaction values DRT at approximately EUR1 billion and is fully supported by DRT’s management team which will remain in place and is headed by its CEO Laurent Labatut. This transaction would be a further step in the company’s development path as many individual shareholders and Tikehau Capital have decided to reinvest part of their proceeds alongside Ardian.
Created in 1932 and headquartered in Dax (France), DRT is a global
Lightyear Capital, a private equity firm focused on financial services investing, has held the final close of its fourth private equity fund, Lightyear Fund IV, with more than USD950 million in capital commitments, with an additional USD75 million raised in a related co-investment vehicle.
Fund IV received commitments from US and foreign institutional investors, including public and private pension plans, insurance companies, fund of funds, and high net worth individuals. Since inception, Lightyear has raised approximately USD3.6 billion of private equity capital.
Fund IV, the largest fund raised by Lightyear to date, will be invested primarily in control investments
Mubadala Investment Company, an Abu Dhabi Government owned company, has acquired Verno Capital’s private equity advisory unit to strengthen its internal investment and asset management capability across Russia and the CIS region.
The transaction sees a number of Verno employees transfer to Mubadala, who will now have a complete focus on Mubadala’s Russian portfolio and investment pipeline. This comes as Mubadala seeks to grow its Russia investment portfolio across multiple sectors.
Mubadala has been a major shareholder and investor in Verno Capital since 2010, deploying capital across Verno’s funds as well as using its investment advisory unit’s services to support
Praesidian Capital, a provider of senior and subordinated capital for small and mid-sized businesses, has led a USD12.0 million mezzanine debt investment and a USD0.3 million equity co-investment to support the acquisition of Remedy Health Media (Remedy) by Topspin Partners (Topspin).
Headquartered in New York, NY, Remedy is a leading digital health platform specialising in inspirational, video-based storytelling and award-winning digital brands. The Company’s portfolio of brands includes HealthCentral, TheBody, TheBodyPro, BerkeleyWellness, and Healthcommunities. Its largest property, HealthCentral, has become a primary destination for inspirational multimedia patient stories – under the Live Bold, Live Now initiative – that connects Remedy’s
RPC and The British Private Equity and Venture Capital Association (BVCA) have launched a new guide on private equity fund restructurings to bring clarity to this complex area.
RPC has produced the guide for fund sponsors, investors and investment professionals, going through potential scenarios that could require a private equity or similarly structured investment fund to restructure and what needs to be done.
The guide covers several issues including: Brexit; adverse fund economics; investor defaults; and manager distress.
The guide also details the liabilities and defences for asset managers when faced with litigation, as well as certain recent
Sidley Austin has appointed Alexander Temel and William Schwab as partners in the firm’s Boston office. They are members of Sidley’s global Private Equity practice. Both were formerly with Latham & Watkins.
“We are excited to have attracted top talent like Alex and Bill as we continue to expand our private equity capabilities both here in Boston and globally,” says Robert Buhlman, managing partner of Sidley’s Boston office. “Private equity and related transactional work have been part of the strategy for expanding the Boston office since its inception. We believe having Alex and Bill on the ground working with our
Maples Fund Services, an independent global fund services provider and division of MaplesFS, has appointed Brendan Tyne as Head of Business Development for North America.
Tyne brings over 20 years of experience in the asset management industry. He was most recently the Managing Director of the North American business of a global private equity and real estate fund administrator. Prior to that, he held various sales and relationship management positions, focusing on capital raising and managing institutional and high net worth client relationships for hedge fund and fund-of-funds managers. He received a Bachelors of Arts in International Affairs from Lafayette
Alternative assets under management reached a record USD7.7 trillion in 2017, according to a new survey by BNY Mellon, and look set to increase further with over half of respondents expecting allocations to alternatives to increase in the next 12 months, up from 39 per cent in 2016.
Private equity has the highest share of institutions’ alternative asset allocations and highest levels of outperformance (36 per cent of respondents said results were better than expected). But the rising stars are real estate and private debt, whose share of allocation continues to grow.
After a period of disappointing returns, nearly
Polaris Investment Advisory AG (Polaris), Zurich, has appointed Dr Hanspeter Bader, Baldomero Falcones, Dr Thomas Friese and Matthias Knab as Members of its Senior Advisory Board.
“We are delighted to have gained such renowned and globally-networked experts for our company. With this step, we are substantiating our claim of having in-depth expertise and an extensive network in all areas of alternative investments,” says Rolf Dreiseidler, Managing Partner of Polaris.
Bader is regarded as a proven expert in private equity. He worked for Unigestion for 17 years, most recently in the position of Head of Private Equity/Private Assets. Friese most
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