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Quercus Assets Selection’s Quercus Renewable Energy Fund has completed the sale of its stake in ForVEI, a joint venture comprising Quercus Renewable Energy, VEI Capital, Foresight Solar VCT and Adenium Solar Energy.
ForVEI operates in the private equity, infrastructure and energy sectors in Italy.
Quercus initially invested EUR8 million in ForVEI in 2011, and at the time of its disposal late in December 2016, owned a stake close to 10 per cent in the joint venture. The sale generated an IRR of higher than 9 per cent for Quercus and it represents the first disposal by the Quercus Renewable
From January 2017 two representatives of foreign collective investment schemes – Acolin Fund Services (Zurich) and Hugo Fund Services (Geneva) – will cooperate more closely in advising asset managers on cross-border fund distribution.
While Hugo Fund Services has focused on alternative investment providers since it was founded in 2014, Acolin Fund Services gives particular support to mutual fund providers, in addition to its work in fund registration and representation, including sales support.
Since it is increasingly difficult to access investors in the context of cross-border distribution of investment funds due to increasing regulation (MiFID II and FIDLEG), the two
Real estate debt investment manager Laxfield Group has secured an increased allocation of capital for its Laxfield National programme, expanding its fast, flexible funding to allow individual loans of up to GBP100 million.
Alexandra Lanni, head of transactions for the Laxfield Group, says: “Borrowers are looking to create new relationships with lenders, recognising that debt supply has changed and continues to evolve.
“We saw an opportunity to bring new capital to mid-market lending in 2015. Initially we focussed on deals of GBP1 million to GBP40 million where we saw particular demand. That strategy worked well and we successfully invested
Law firm CMS has expanded its presence in Latin America with Carey & Allende (Chile), GRAU Abogados (Peru) and Rodríguez Azuero Contexto Legal Abogados (Colombia) all now part of the company.
The firm has been active in the region for a number of years, with well-established offices in Brazil and Mexico.
CMS now has 65 offices in 38 countries and more than 880 partners and 6,000 total staff. The new firms will trade as CMS under the names CMS Carey & Allende, CMS Grau and CMS Rodríguez Azuero Contexto Legal Abogados.
As a result of this expansion, CMS
Palamon Capital Partners has acquired a majority stake in Happy Socks, an international brand of design socks.
The transaction values Happy Socks at SEK725 million, with SEK40 million of growth capital being injected to support the continued expansion of the business, leading to a SEK 765 million post-money enterprise value.
Founded in 2008 in Sweden by Mikael Söderlindh and Victor Tell, the dompany’s mission is to spread happiness by turning an everyday essential into a colourful design piece with a high standard of quality, craftsmanship and creativity. Happy Socks is a globally recognised brand sold in more than 90 countries
Bought By Many, an insurance technology start-up that uses social media and search data to offer insight-driven insurance to customers, has closed a GBP7.5 million (USD9.5 million) Series A funding round.
The round was led by Octopus Ventures, with Munich Re/HSB Ventures participating, as well as existing Bought By Many investors.
The funding announcement comes as the business also reveals it has signed a long-term insurance agreement with Munich Re and with their Digital Partners business unit that will enable the company to launch its own insurance products and expand into new territories.
Bought By Many has developed
Chesney’s, a designer, manufacturer and retailer of luxury fireplaces and wood burning stoves, has secured a growth capital investment from BGF (Business Growth Fund).
The investment will be used to roll-out additional retail showrooms and to fund further expansion in international markets such as the US and China. A new BBQ and outdoor heating range will launch later this year.
London-based Chesney’s has showrooms, warehouses and manufacturing facilities in London, New York, Portugal and China.
Founded in 1985 by CEO Paul Chesney, the business originally operated as an antique fireplace dealership before going on to create and manufacture
Nearly half (47 per cent) of small and medium-sized business (SME) owners claim the business advice they received in the last year from their mainstream bank had a negative impact on their business operations.
One in six (16 per cent) of these suggested their business is now in a worse position as a result.
This is according to research by Amicus Commercial Finance, a lender of flexible working capital to SMEs.
The survey shows more than half (52 per cent) of SME owners ignored advice they received from their mainstream bank over the last 12 months.
The
My 1st Years, a children’s gifts personalisation site, has secured GBP5 million in growth funding led by venture and growth investor Beringea, and supported with funds managed by Hargreave Hale.
The investment will be used to drive developments in operations, marketing and international expansion into the US.
My 1st Years is an ecommerce company that provides personalised gifts for babies and children. The company was founded by Daniel Price and Jonny Sitton in 2009, and has since become a favourite with celebrities including Dannii Minogue and Elton John as well as the royals.
The business previously secured GBP2
Noerr has advised the shareholders of think project! on an investment by the private equity firm TA Associates.
think project! provides companies in 40 countries with a cross-enterprise collaboration platform for projects from building, civil engineering, industrial and plant construction with a workforce of around 200 at various offices in Europe.
The platform of the company, which has its headquarters in Munich, is currently used in over 8,000 projects with a total of more than 100,000 users.
think project! continues to expand with the investment of TA Associates, a globally operating private equity company with shareholdings in more
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