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The Gibraltar Stock Exchange (GSX) has launched a self-regulated Multilateral Trading Facility (MTF), the GSX Global Market (GM), for debt securities and funds, which will operate under GSX’s MiFID licence.
The Gibraltar Financial Services Commission has granted GSX permission to operate an MTF so allowing GSX to further enhance its service offering. The self-regulated market offers issuers greater flexibility and choice as well as increased speed to market.
The opening of GM means the Gibraltar Stock Exchange is currently able to offer issuers: GSX Main Market – an EU regulated market for funds and debt securities offering a
Between July and December 2016, Platina Energy Partners successfully restructured with Unicredit (London Branch) circa EUR100 million of non-recourse long-term financing, originally used to finance a 20 MW photovoltaic portfolio, consisting of three operational projects located in mainland Spain.
The financial restructuring of the portfolio will allow the optimisation of the financing structure and improve cash flows.
"Platina is delighted to have closed this debt restructuring with Unicredit – London Branch,” says statement from the company. “Due to a number of changes in the laws affecting the PV sector in Spain, the financial health of these plants was seriously challenged and
Mount Street is to acquire EAA Portfolio Advisors (EPA) from Erste Abwicklungsanstalt (EAA).
At the end of 2009, EAA was created as the asset management company to manage the assets of the former WestLB.
EAA was founded as a public law agency under the German Financial Market Stabilisation Fund Act. Its shareholders include the German State of North-Rhine Westphalia (NRW) and NRW’s Savings Banks Associations. EAA took over the responsibility for the wind-down of WestLB’s portfolio of more than EUR200 billion comprising a diverse range of complex non-performing loans, ABS, leveraged credit, asset finance and structured finance assets.
Venture and growth investor Beringea has invested USD4.6 million into Whistle Sports, a digital entertainment media company.
The investment is part of Whistle Sports’ recently-concluded Series C, with Beringea joining leading names in sports broadcasting and digital media in a round worth USD27.5 million in total. Other investors in the round include TEGNA, NBC Sports Ventures, Sky and Emil Capital.
Since launching in 2014, Whistle Sports has grown its audience to more than 300 million subscribers, followers, and fans across all social media platforms – including an audience of more than 45 million in the UK alone – by catering to previously
Noerr has advised a banking consortium on the financing of the German subsidiary of the French Recylex Group.
The banks are providing the German subsidiary of the listed French recycling group with EUR67 million.
The financing package includes a EUR40 million investment in a new reduction furnace in the lead segment. The new reduction furnace is to recover internally the lead and silver contained in certain by-products from the smelter. Recylex expects to create around 30 new jobs at the Weser-Metall subsidiary and to increase the Recylex Group’s annual lead production by approximately 30,000 tonnes. The other funds provided
Francisco Partners has sold Source Photonics to a private equity consortium led by Redview Capital and Asia-IO, with participation from investors including TR Capital, Axiom Asia and Aberdeen Asset Management.
Source Photonics is a provider of communications and data connectivity components and modules in next-generation data centres, mobile and fixed-line networks.
Source Photonics was originally acquired by Francisco Partners in October 2010 as a carve-out from MRV Communications. Following the acquisition, Francisco Partners recruited CEO Doug Wright to join the company in May 2013.
“It has been a pleasure to work with Doug and the talented management team
Goodwin has advised Spice Private Equity (Bermuda), a subsidiary of the Swiss investment company Spice Private Equity Ltd, on a USD31.1 million sale of assets.
Seven assets were sold including all primary fund investments, simplifying cash management for Spice and creating further capacity for new direct investments.
The portfolio comprised five primary fund investments (Navis Asia VII, Northstar IV, Baring Asia VI, Carlyle Sub Saharan Africa Fund and Helios III) and two co-investments (Altico Capital and Rede D’Or).
During the holding of the portfolio, a gain of 6 per cent was generated.
The Goodwin team in London was
Noerr has advised Landesbank Baden-Württemberg (LBBW) and Siemens Bank on financing the purchase of automotive supplier Dieter Braun by Deutsche Beteiligungs AG (DBAG).
The DBAG Fund VI, advised by DBAG, has acquired the majority of the shares in Dieter Braun by way of a buyout.
The seller is the private equity firm Seafort Advisors. Besides DBAG, the management will also hold shares in Dieter Braun in future.
The Dieter Braun Group specialises in cable assembly and lighting technology particularly for the automotive industry, with a workforce of some 1,500 and sites in Germany, the Czech Republic, Mexico, China
Veritable and Moelis Asset Management have teamed up to launch Archean Capital Partners, which will provide new private equity portfolio managers with the initial capital, advice and infrastructure necessary to launch their own funds.
Veritable is a wealth management firm with over USD13 billion of assets under management.
Moelis AM is the parent company for alternative asset management firms with an aggregate of over USD3billion in assets under management.
Through Archean Capital Partners, Veritable and Moelis AM will seek capital commitments for a series of single manager, special purpose vehicles (SPVs) that will invest in selected newly launched
Beechbrook Capital has completed its first three investments from its most recent fund, Private Debt III.
The fund’s first transaction was to provide growth financing in support of H2 Equity Partners’ investment in Multi Pilot Simulations, a designer and manufacturer of flight simulation training devices based in Groenekan in the Netherlands.
The second transaction was for D&D London, the luxury restaurant, bar and hotel group based principally in London and whose restaurants include Quaglinos and Coq d’Argent. Beechbrook provided a mezzanine loan to part-refinance LDC’s and the management’s shareholder loans.
The third investment was a mezzanine loan to
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