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Outsourcing has not only become an accepted practice among hedge fund managers, it has become a necessity as funds large and small seek out ways to control their costs, manage their internal resources more effectively, and overcome the ever growing challenge of regulatory compliance.
Perhaps more than ever before, hedge fund managers recognise that as cloud technology makes huge strides forward it makes more sense to focus on their core activities of investing and raising capital, appointing a trusted outsourced provider to manage the raft of non-core activities that investors do not want managers to be preoccupied with.
Indeed, while
KKR has held the final closing of KKR Americas XII Fund, a USD13.9 billion fund focused on opportunistic investments in private equity-related transactions primarily in the US, Canada and Mexico.
KKR will be investing nearly USD1.4 billion in capital alongside investors through the firm’s balance sheet and employee commitments.
“As we mark this important milestone in our Americas private equity business and close our 12th flagship private equity fund, we are grateful to our investors, both old and new, for their continued confidence in us. In today’s increasingly complex world, we are pleased that they share our enthusiasm for
Steak restaurant group Flat Iron has received a GBP10 million significant minority investment from Piper, in a deal advised by global investment bank GCA Altium.
Founded in 2012 by entrepreneur Charlie Carroll as a pop-up above a London pub, Flat Iron now has four sites in the capital (Soho, Tottenham Court Road, Covent Garden and Shoreditch), with two further restaurants due to open later this year in Golborne Road and King’s Cross.
The business offers a simple and modern take on the traditional steakhouse, serving its signature flat iron steak for just GBP10. The mix of quality and affordability
Aurelius Equity Opportunities generated consolidated revenues of EUR2,892.3 million based on initial provisional annual figures in fiscal 2016, an increase of 44 per cent compared to the prior year’s revenue of EUR2,013.3 million.
The annualised consolidated revenues increased to EUR3,066.3 million.
Overall, Aurelius Equity Opportunities achieved EBITDA for the combined group of EUR148.4 million (2015: EUR266.1 million). The decrease can be largely attributed to the lower income from the reversal of negative goodwill from capital consolidation ("bargain purchase") compared to the prior year.
Operating EBITDA reached EUR114.0 million (2015: EUR123.2 million) despite the acquisition of yet unprofitable and
Private equity firm TA Associates has acquired a minority equity interest in Interswitch, an Africa-focused integrated digital payments and commerce company.
Financial terms of the transaction were not disclosed.
Helios Investment Partners will remain the majority shareholder of Interswitch.
Founded in 2002, Interswitch is active across the entire payments value chain. A recognised leader in the payments space in Nigeria, the company owns and operates the country’s principal domestic debit card scheme, Verve, as well as serves as a third-party transaction processor for many of Nigeria’s largest banks. In addition, the company offers a number of B2B electronic payment services to public and private sector organisations and businesses, including government entities, hospitals,
Monroe Capital has acted as sole lead arranger and administrative agent on the funding of a USD100 million senior credit facility to support the acquisition of Echelon Group (a d/b/a of MedLien Manager) and future growth of its successor Echelon Medical Capital, a portfolio company of DRB Financial Solutions.
In addition, the credit facility also supports the continued growth of its affiliated company, US Claims.
Based in South Florida, DRB is a diversified, multi-asset specialty finance company providing liquidity solutions to individuals and businesses across several niche areas including structured settlements, litigation finance, bankruptcy trade claims, and commission advances.
ZEDRA, a specialist in trust, corporate and fund services, has widened the scope of its client offering with the appointment of Bridget Barker as executive director funds and corporate.
Barker (pictured) will participate in key networking events, global panel discussions and spokesperson opportunities.
Barker joins ZEDRA from city law firm Macfarlanes with almost 36 years’ experience and is one of only three Senior Statesmen for private equity funds listed in the Chambers Legal Directory, 2017. Her experience in legal issues, particularly related to fund raising in the areas of private equity and real estate, is extensive.
Barker has
Independent Growth Finance (IGF), a commercial finance provider for SMEs, has delivered a GBP1.95 million combined invoice finance and asset based lending line for Pearl Automotive, a supplier to the automotive aftermarket.
The funding delivered by IGF will help to consolidate and grow Pearl Automotive’s existing business, and allow the firm to invest in new machinery to make the processes more efficient within its Essex headquarters.
Pearl Automotive has over 40 years’ expertise in supplying the automotive aftermarket with more than 7,500 lines, including fitted and workshop consumables, servicing and display stands. The firm supplies customers throughout the global
The number of Jersey-registered fund managers marketing into Europe through national private placement regimes (NPPRs) under the Alternative Investment Fund Managers Directive (AIFMD) continued to rise during 2016, according to the latest figures from the Jersey Financial Services Commission (JFSC).
As at December 2016, 127 alternative investment fund managers (AIFMs) had been authorised in Jersey to market into Europe through NPPRs, up more than one fifth (22 per cent) compared to December 2015.
Over the same period, the total number of Jersey alternative investment funds (AIFs) being marketed into Europe through NPPRs also increased significantly to stand at 254,
TVS Rico Supply Chain Services has acquired a majority stake in SPC International from Beringea, adding repair and parts supply to the company’s end to end supply chain services.
Beringea will retain a 5 per cent stake in SPC International, an Uxbridge UK based company which has grown significantly since its establishment in 1989 and has annual turnover of GBP20 million.
SPC International has operations in UK, France, Slovakia, USA and India. It offers hardware support with specialisation in IT spares and repairs, supporting multi-vendor maintenance contracts. SPC’s services and solutions include repair and refurbishment, remarketing, reselling, warranty management and
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