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Omnes Capital announces the final closing of its Capenergie 3 fund for a total amount of EUR245 million. The third-generation fund, dedicated to European renewable energy infrastructure investments, has exceeded its target size of EUR200 million.
Omnes Capital received support from its historic investor base as well as new French and foreign institutional investors, such as the European Investment Bank (first EIB equity investment made within the context of the European Juncker plan), La Banque Postale, CRPN, Le Fonds de Réserve des Retraites, Ircantec, PRO BTP, SWEN Capital Partners and several Crédit Agricole Group entities.
Capenergie 3 follows in
Permira Debt Managers’s (PDM) direct lending funds Permira Credit Solutions II (PCS2) and Permira Credit Solutions III (PCS3) are acting as sole senior secured lenders to finance the acquisition of Dunlop Aircraft Tyres, a UK headquartered aircraft tire company, by Liberty Hall Capital Partners.
The acquisition is supported by long term senior debt provided and arranged by PCS2 and PCS3 as well as a revolving credit line provided by Royal Bank of Scotland.
Dunlop is the only pure-play specialist aircraft tyre manufacturer in the world. Headquartered in Birmingham, UK, Dunlop operates three facilities located in Birmingham, Mocksville, NC, and
Private equity investment firm Sverica Capital Management, along with Ross Beattie and Gerry Lawless, has acquired iWave Information Systems (iWave) from Jamie Hill of Charlottetown PEI.
This acquisition marks Sverica’s third investment made from its fourth fund. iWave is a Software as a Service (SaaS) company that offers fundraising intelligence to healthcare, education, and non-profit organisations.
Based in Charlottetown, Prince Edward Island, Canada, iWave provides access to data and proprietary analytics to help prospect researchers, fundraisers, and other development professionals determine which donor prospects to ask, how much to ask for, and when to ask. For the past five
Luxembourg is one of the world’s leading onshore domiciles where, over the last 30 years, it has become the default option for managers wishing to establish UCITS funds. It is, by size, the world’s second largest fund centre after the US, and, from a funds expertise perspective, offers managers everything they need; not just for UCITS funds but also unregulated or regulated alternative fund structures under AIFMD.
Through February 2017, total Assets under Management (AuM) for Luxembourg funds had risen 13.6 per cent year-on-year to EUR3.86 trillion, according to the latest statistics by the Association of the Luxembourg Fund Industry.
Typically there are three options for managing external money: using managed accounts, setting up a dedicated fund structure or launching a fund on a regulated fund platform.
The latter is best thought of as a halfway house option and is particularly suitable to those launching with EUR10 to EUR30 million in AUM, or even less. The beauty of the fund platform is not only does it provide efficient speed to market, it allows fund managers to concentrate on what they are good at, operating with a lean team that helps to keep management company costs to a minimum.
The Lawson
MPL Management (Luxembourg) SA is a third-party `Super Management Company’ providing fund governance, operational support and oversight to both UCITS funds and AIFs. It is part of MPL Group, founded by William Jones in 2006, who has, over the past 26 years, helped set up more than 100 funds in his career.
In 2008, Jones decided upon Luxembourg as his preferred European base for directorship services. At the time, he had no specific interest in setting up a management company.
“The premise I operate from – and why I refer to MPL as the `anti-ManCo’ ManCo – is that the
Regulatory reporting has become a critical component of running an alternative investment fund. This requires well-developed data sourcing and data management processes to help ensure that fund managers remain compliant.
Until a few years ago, there were no formal regulatory reporting requirements on the part of alternative investment managers. Following the financial crisis in 2008, the European Union tried to figure out a reporting mechanism to obtain a clear handle on the size of the alternative investments industry, and the degree of counterparty exposure that exists.
The European Union subsequently introduced the AIFM Directive, within which Annex IV reporting can
When setting up as a new hedge fund manager, one of the most important relationships to establish is that of the prime broker. With banks facing regulatory pressures in the form of Basel 3, many are re-appraising their client book to ensure that they are getting a suitable return on investment for the balance sheet they provide. Consequently, the first point for start-ups to focus on is to articulate what they will be doing with the fund they are planning to launch.
“They should have a well developed outline of the investment strategy, investment process and the type of portfolio
Across most EU jurisdictions, either the management company or the AIF needs to be licensed and requires some form of approval process. The Netherlands, however, is the exception to the rule. Under its light regime, neither needs to be licensed or supervised at all. This makes it a fast, efficient and cost-effective option for start-up managers.
Provided the manager runs an AIF with less than EUR100 million in AUM, he can avoid licensing and apply for an exemption, although he will be subject to certain registration and reporting obligations. For example, the manager must include a selling restriction in a
Malta hosts a wide range of service providers, all of whom are well versed in structuring and supporting alternative investment funds, fund administration, risk management and so on. According to the MFSA’s statistics for Q1 2017, Malta had 26 recognised fund administrators, 115 Category 2 investment services groups, and 153 Company Service Providers.
From a fund launch perspective, a total of 21 Professional Investment Funds (PIFs) were licensed and three Notified Alternative Investment Funds (NAIFs).
“Overall, for the past 12 months fund formations in Malta have been strong,” says Nicholas Warren, Manager, Corporate Services, Chetcuti Cauchi Advocates. “We’ve seen
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