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Forterra, a manufacturer of water infrastructure pipe and products in the US and Eastern Canada, has acquired the business of Royal Enterprises America (Royal), a manufacturer of concrete drainage pipe, precast concrete products, stormwater treatment technologies and erosion control products.
Terms of the transaction were not disclosed.
Based in Stacy, Minnesota, Royal primarily serves the greater Minneapolis market. The acquisition of Royal is expected to provide Forterra access to new opportunities for growth in the strong and expanding Minneapolis housing and infrastructure market.
"We expect Royal will further accelerate Forterra's growth in the drainage and stormwater management
Matthew Pohlman has rejoined law firm Goodwin as a partner in the hospitality and leisure practice in the London office.
Pohlman brings extensive experience in the development, operation, management, acquisition, disposition and financing of hotels, resorts and other mixed-use hospitality assets around the world.
“We are delighted to welcome Matt back to Goodwin,” says Teresa Goebel, partner in the real estate industry group. “Merging his extensive international hospitality experience with our capabilities in Europe and the US will further expand our offering to hospitality and leisure clients, especially those with active interests in Europe, the Middle East, Africa and
Exonate, an early stage biotechnology company, has been awarded a GBP4.9 million seeding drug discovery award by the Wellcome Trust to continue development of an eye-drop treatment for wet age-related macular degeneration.
Exonate is bolstered further by a recent funding round of GBP1.5 million from new and existing shareholders at the end of 2016.
The Wellcome Trust investment will be used to accelerate the development of Exonate’s first in class molecules – a topical eye drug as a much-needed alternative to current treatment by injections for wet age-related macular degeneration (AMD).
Exonate have developed small molecules that inhibit
By Ras Sipko, KOGER – For the past four years, alternative fund managers with US investors have been coming to terms with the far-reaching effects of the Foreign Account Tax Compliance Act or FATCA. Some 60-plus countries have signed up to cooperate with the IRS in order to enforce FATCA and this year the compliance burden is set to grow yet again. On 31st May 2017, fund managers will have to submit their first filing under the OECD Common Reporting Standards initiative, which can best be thought of as global FATCA or 'GATCA'.
Creating an internal programme to comply with FATCA/GATCA
There are a number of encouraging developments in Ireland that would, on the surface, appear to place it on a strong footing to further enhance its reputation as Europe's leading onshore alternative funds jurisdiction.
If one looks at fund growth, through October 2016 (the most recent figures at the time of writing) the aggregate AUM of Irish QIAIFs increased by 7 per cent with net sales reaching EUR10 billion. At the end of 2015, total assets in Irish ICAV fund structures stood at EUR6.2 billion. By the end of October 2016, that figure had risen to EUR26.5 billion.
"The ICAV
ML Capital, one of Ireland's leading management company groups, has grown to exceed EUR3 billion of AUM over the last 12 months. The growth trajectory over recent years has enabled ML Capital to evolve from being a leading UCITS platform operator to being more of a fund solutions provider to managers and investors alike.
"They come to us, tell us what they need and we give them the best fund structure and solution; whether this is going on to one of our platforms and launching a sub-fund and using us as the third party ManCo to perform all the operational
The Irish Government is keen to embrace the FinTech revolution as is evidenced by its IFS2020 strategy for International Financial Services, which aims to create 10,000 new jobs in the IFS sector by 2020.
One particular area of innovation underway in Ireland is the emergence of regulatory technology or ‘RegTech’ with a plethora of start-ups now operating out of Dublin. Part of the reason for this is that sell-side institutions and fund management groups, burdened by the weight of regulation, regard outsourcing as an attractive option because regulatory operations are effectively a non-competitive differentiator.
This thriving technology ecosystem is benefiting
Alternative fund managers have had a myriad of regulatory change to contend with over recent years. In the early stages, many chose to take on the reporting burden themselves. This was very much a learning curve.
However, as the complexity of regulatory compliance has increased, fund managers have looked to consider how much they want to handle internally versus how much they want to outsource.
"We now see a significant amount of fund managers choosing to outsource their regulatory requirements," says Linda Gorman (pictured), CEO of Quintillion Limited, a European-based affiliate of US Bancorp Fund Services. "Essentially everyone has come
Dublin's International Financial Services Centre (IFSC) employs over 38,000 people and is home to some of the world's leading financial institutions; industry stalwarts such as Merrill Lynch, ABN Amro, JP Morgan.
But in recent years, this area of Dublin has ushered in a slew of technology companies, many of them exciting start-ups specialising in financial technology. Alongside the likes of Google, Twitter, LinkedIn and Airbnb, all of whom have their European headquarters located here, a number of interesting start-ups have sprouted up, causing some to dub this area `Silicon Docks'.
Firms such as Propertygate and Certus (portfolio management), CR2, Acquirer
Investment funds managed by Morgan Stanley Capital Partners (MSCP), the private equity team within Morgan Stanley Investment Management, have completed an investment in Fisher Container.
MSCP is partnering with experienced plastics and packaging executive, Kevin Keneally, and the current Fisher management team to acquire the company.
Fisher, headquartered in Buffalo Grove, Illinois, is a manufacturer of innovative and technical flexible packaging products, primarily for the cleanroom, food and industrial end markets. The company prints and converts flexible plastic pouches, bags and films. Fisher Container is a third generation family business, founded by Don Fisher in 1969.
Don Fisher
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