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By George Ralph, RFA – According to Microsoft and 451 Research, most organisations are working with four cloud vendors, at least. Many firms are utilising public cloud services from the biggies like Amazon and Microsoft, but also want, or need more discrete services to house some applications, and for these services, will opt for private clouds. Today’s firms want applications that bring them business benefits, and if they need to bring on board other cloud services to house them, or to cope with the workload, that’s what they do. Our customers want infrastructure that just works as it should. They
Abacus Group has secured a minority investment from WestView Capital Partners. Drake Star Partners acted as an exclusive financial advisor to Abacus Group on this transaction.
Founded in 2008, Abacus Group has successfully served the hedge fund and financial institution market by providing superior technology, expertise, and service.
Abacus Group provides three main products and services – AbacusFLEX, a professionally managed hosted IT solution covering all the primary needs of a modern financial services firm including state-of-the-art security and compliance functionality; Application Hosting, a fully redundant and secured managed infrastructure allowing clients to host any application in the cloud;
Koger, a financial services technology company and provider of the NTAS platform for fund administration and compliance, has received the ISO 9001: 2015 quality management certification.
Koger’s certification means the company meets a comprehensive quality standard that covers all of its processes and operations.
A quality management system that can be integrated into any business, ISO 9001 ensures the business delivers a consistent level of quality to its customers by having well-defined and regularly-reviewed processes and procedures. Koger’s certification states that the company has “implemented and maintains a quality management system for the design and managed development of fund
NES Financial, a Silicon Valley FinTech company providing technology-enabled solutions for efficient back- and middle-office administration of complex financial transactions, has hired Michael Richards, formerly of State Street Corporation, as Senior Vice President in charge of Fund Accounting.
Richards joins NES Financial after nearly 18 years at State Street, where he worked in hedge fund and private equity fund administration within the firm’s Alternative Investment Solutions division. There, he was responsible for a large global team servicing top institutional fund sponsors and LP customers, with a broad spectrum of alternative investment product types.
His background in alternative fund administration
BGF has invested a further GBP7.3 million in AdEPT Telecom (AdEPT). Headquartered in Tunbridge Wells and listed on AIM, AdEPT is a provider of unified communications and IT managed services.
The new funding, alongside an existing debt facility, will support the acquisition of Atomwide Limited, a well-established UK based specialist provider of IT services to the education sector. The acquisition of Atomwide further extends AdEPT’s ability to provide a full suite of specialised IT and telecoms products to public sector customers, and will position AdEPT as the leading IT provider to schools across London, supporting around two million users.
The
Brightstone Venture Capital has held the first closing of a new venture capital fund focused on early stage technology and life-science businesses, primarily in Minnesota but also across the US.
The new venture fund, BVC2, formally accepted its first limited partners last week and has made its first investment. The fund has received over USD25 million in fund commitments thus far, primarily from existing limited partners in its previous fund and will have a hard cap total size of USD100 million.
The new BVC2 venture fund also closed its first investment in a Boston-based cloud storage platform called Wasabi, a
Shashi S and David AA Ross of Viteos Fund Services reflect on the ILPA reporting initiative and propose technological solutions…
Increased investor appetite for private equity thanks to outperformance is encouraging institutionalisation of the industry. Against this backdrop the Institutional Limited Partners Association’s (ILPA) reporting template is gaining steam as it aims to deliver standardisation.
However, the absence of an integrated blend of technology with services stymies private equity’s uptake of technology and digitisation in this area, without the right combination the widespread implementation of the new template is likely to be slow.
The industry needs help with this hefty undertaking.
London-based private equity firm Limerston Capital has held the final closing of its debut fund Limerston Capital Partners I with commitments above its GBP200 million target.
The Fund has attracted the support of leading pension funds, endowments and fund of funds with investor geographies covering the United States, Europe and Asia Pacific. In addition, the Limerston team is one of the largest investors in the Fund, demonstrating its close alignment of interests.
The Fund expects to continue to pursue control investments in mid-market companies in the UK with an EBITDA of between GBP4 million and GBP10 million and to
Gangsu Gangtai Holding (Group) Co Ltd, a Chinese group listed on the Shanghai Stock Exchange, has closed its acquisition of 85 per cent stake in Buccellati Holding Italia, which was previously held by Clessidra and the Buccellati family.
The transaction is based on an Equity Value of EUR230 million for 100 per cent of the company.
Buccellati, founded in Milan in 1919, is one of the most prestigious Italian high-end jewellery brands renowned all over the world for its craftsmanship, design and originality. Buccellati jewels are globally admired, not only for their design, but also for the distinctive engraving
Lovell Minnick Partners, a private equity firm specialising in the financial and business services sectors, has appointed Roumi Zlateva as a Vice President.
Zlateva, who will assist with the firm’s evaluation of new investment opportunities, due diligence and transaction structuring, brings broad experience in principal investing and corporate advisory work to her new position at Lovell Minnick. Most recently, she served as Director in the Financial Institutions Group at UBS Securities, providing strategic advice and transaction support to clients in the specialty finance sector.
“Roumi’s skills and experience in corporate advisory, origination and structuring are highly complementary to Lovell
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