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Private equity firm Lovell Minnick Partners has completed a growth investment in Trea Asset Management, an independent asset management firm in Spain.
Terms of the private investment have not been disclosed.
Founded in 2006 and with offices in Barcelona and Madrid, Trea currently has approximately EUR2.8 billion of assets under management.
The firm manages traditional mutual funds across equities, fixed income, balanced, and fund of funds primarily through exclusive distribution partnerships with its bank partners, its own branded funds and alternative private equity and credit products.
The Lovell Minnick Partners investment will provide capital to support the
The Russian Direct Investment Fund (RDIF) has formed a consortium comprising Middle Eastern funds and finalised a deal to acquire a minority stake in Russian Helicopters, the helicopter design and manufacturing company, from Rostec.
Russian Helicopters’ valuation was estimated at USD2.35 billion.
The transaction consists of two stages. The first stage involves the sale of a 12 per cent stake and an investment of USD300 million, as well as an agreed-upon subsequent potential increase in investment to USD600 million.
This will accumulate a significant amount of funds within the company. These funds are necessary for the implementation of
First Names Group’s fund services business Moore Management has appointed Scott Madden as funds director.
Based in Moore’s head office in Jersey, Madden (pictured) brings with him operational and technical experience including significant skills in organic and inorganic build-outs.
Prior to joining Moore he headed up the integrations team at Sanne, having joined through the acquisition of State Street’s Jersey corporate business in 2014.
Recently he spent six months in South Africa integrating an acquired hedge fund administration business in Cape Town.
Madden says: “I’m thrilled to be joining the Moore Management team. Moore is going from
Deutsche Börse Group has invested in the first German growth fund for fast-expanding B2B-software companies.
The fund has been initiated by Digital+ Partners. The first subscription tranche of the Digital Growth Fund I has been closed with EUR131.5 million.
Deutsche Börse has invested jointly with other institutional investors from Germany such as ZEISS.
“Innovative and fast-growing companies are essential to our economic development. And so we support initiatives to ease their access to capital. Our investment in the fund launched by Digital+ Partners is the perfect supplement to our own direct investments in fintech firms via the DB1
Reiss, owner of the global men's and women's fashion and accessories brand REISS, has appointed Christos Angelides as chief executive officer (CEO) as part of a planned succession process.
Angelides brings over 30 years multi-channel retail experience to Reiss including 28 years at Next where he served for 14 years on the main board as group product director.
Most recently he served as president of Abercrombie and Fitch based in the US.
In addition, Andy Lawrence has joined Reiss as head of international. Lawrence joins from Ralph Lauren where he held a series of senior roles in Asia Pacific
Summa Equity has acquired Linfre Education AB from the company’s founder and a handful of private investors.
The founder and CEO Josef Lind will reinvest the majority of his proceeds, and the management team will also invest alongside Summa Equity.
Tommi Unkuri, partner at Summa Equity, says: “We are very excited about concluding Summa Equity’ third investment, and the first one within the investment theme changing demographics. This investment also fits within another of our four themes, tech-enabled business, where education is a core segment. Through Lin Education we will contribute to the digitalisation of the Swedish educational system.
BNY Mellon has appointed Declan Turner as a business development manager for its corporate trust team in Europe, the Middle East and Africa (EMEA).
Turner will focus on promoting BNY Mellon’s administration solutions across all loan portfolios, including direct lending and collateralised loan obligations (CLOs).
“Declan has extensive experience in structured finance and his buy-side expertise gives us an invaluable insight into client needs,” says Tom Ahern (pictured), head of BNY Mellon’s corporate trust business in EMEA. “Attracting, developing and retaining top talent is a core strategic priority and remains one of our biggest competitive advantages.”
Turner will be based
Enstar Group is to sell its subsidiary Pavonia Holdings (US) for USD120 million to an affiliate of Global Bankers Insurance Group, the insurance and reinsurance group of companies of Eli Global.
Pavonia owns Pavonia Life Insurance Company of Michigan, Pavonia Life Insurance Company of New York, and Enstar Life (US). Enstar originally acquired the Pavonia business from HSBC Finance in 2013.
Completion of the transaction is subject to regulatory approvals and satisfaction of closing conditions. The transaction is expected to close during the third or fourth quarter of 2017.
Dominic Silvester, Enstar’s chief executive officer, says: “Since acquiring the
The total number of private equity deals in 2016 was up 18 per cent on 2015, with the majority of the transactions completing in the second half of the year, post the Brexit vote, according to research conducted by Clearwater International.
The upcoming 2016 Heatmap Review, in association with unquote”, shows this was driven by significant increases in activity in DACH (up 56 per cent), Southern Europe (up 45 per cent) and France (up 19 per cent) with stable deal volumes in other European territories.
Clearwater International says its work with private equity reflected this trend, with the number
Assetz Capital, a UK peer-to-peer finance platform, has committed to expansion in Northern Ireland under the guidance of recently appointed Regional Relationship Director, Andrew Fraser.
Fraser joins Assetz Capital from Santander UK Corporate and Commercial. In this role he was a Business Development Director covering the Northern Ireland region. Fraser’s new role is to help local businesses acquire finance through the peer-to-peer platform and ensure borrowing through the Assetz Capital platform runs smoothly.
Stuart Law, CEO of Assetz Capital, says: "We see Northern Ireland as a key growth area and feel we have a very strong offering to assist small and mid
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