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Private equity firm Lovell Minnick Partners is to acquire a majority stake in Foreside Financial Group, a provider of a variety of regulatory compliance and distribution solutions to clients in the investment management industry.
Financial terms of the private transaction have not been disclosed.
Established in 2005 and based in Portland, Maine, Foreside is led by chief executive officer Richard Berthy and president Dave Whitaker, who will remain shareholders and continue in their current management roles.
Foreside delivers outsourced services to investment advisers and broker dealers, including the financial products they manage or distribute. Servicing over USD800 billion
Intensix, developer of a real-time predictive analytics platform for early detection of patient deterioration in the ICU and high acuity departments of hospitals, has completed a USD8.3 million Series A financing round led by Pitango Venture Capital.
The funds will be used to boost the company's sales and marketing operations in North America and to expand and accelerate the development of its predictive analytics platform.
As part of the financing Ittai Harel, managing general partner at Pitango, will join the company's board of directors.
Intensix's platform applies machine learning to provide accurate predictive clinical analytics that ICU
Idinvest Partners has opened a new office in Frankfurt and added three German nationals to its private debt team.
The new Frankfurt office will be represented by Florian Zimmerman, who has been working with Idinvest since 2014.
Christophe Bavière, president of Idinvest Partners, says: “Brexit has accelerated the fact that Frankfurt is becoming one of the most active financial centres of Continental Europe. This new step is fundamental to the international development of Idinvest and our 20 years of experience across various European markets, including Germany, has reinforced our desire to be present in this region. The companies we finance in
Waterland Private Equity Investments is to provide growth capital to Enhesa, an environmental, health and safety (EHS) regulatory compliance assurance content provider.
Enhesa is a global EHS regulatory consultancy based in Brussels, Washington DC and Tokyo.
Enhesa provides a global approach to EHS compliance and simplifies regulatory complexity for international companies. By using a standardised risk-based approach, Enhesa provides regulatory insights and analysis that helps companies mitigate risks, stay on top of regulatory change and ultimately achieve and maintain global EHS compliance.
To accelerate its international growth strategy, Enhesa has decided to reinforce its capital structure with financial partner
Middle-market private equity firm Tailwind Capital has made an equity investment in AST, a pure-play Oracle Corporation consulting, implementation and managed services firm.
"AST is a trusted Platinum level member of the Oracle PartnerNetwork and is well positioned to support the growing demand for Oracle solutions that drive innovation and growth for AST’s customers," says Jim Hoch, partner at Tailwind Capital. "AST's proven track record of delivering large and complex Oracle- based solutions to public and private sector enterprises attests to the talent and commitment of AST’s consultants and executive management team.”
AST has made significant investments in becoming
Proper fund governance has long been championed by leading offshore law firm Conyers Dill & Pearman, which for the last decade has encouraged its hedge fund clients to hold at least annual directors meetings. Initially this was met with some resistance according to Robert Briant (pictured), Partner and head of Conyers’ BVI office, who confirms that such resistance has softened over the last few years.
“Even though there is no requirement in the BVI for the directors to meet annually, they do meet and are happy to meet when we suggest it. So that is a positive change. Some funds
One of the reasons as to why the BVI introduced the Incubator and Approved Fund products in May 2015 was, partly, in response to the fact that fund launch numbers in the global hedge fund industry had started to steadily decline. Rising regulatory and compliance costs were hurting start-up managers and dissuading people from coming to market.
In that sense, the BVI was quite prescient and demonstrates the forward looking approach that its regulator, the BVI Financial Services Commission (the "Commission"), takes to ensure that the jurisdiction remains as accessible as possible to start-ups and emerging managers, as well as
Circle Partners is an independent fund administrator with offices in the BVI, Cayman Islands, and across the EU, the Americas and Hong Kong.
"We've seen a lot of growth in new BVI fund vehicles over the last 12 months – both the Incubator Fund and the more popular Approved Fund," reflects Peter Jakubicka (pictured), Business Development Manager at Circle Partners. "These vehicles have been the main driver of business for us in the BVI and we've seen continued interest in the first few weeks of January this year; this is partly due to the fact that Cayman has not introduced
"We see the funds industry as continuing to contribute to the overall offering of financial services. There remains good interest in the BVI product and we envisage that will continue," asserts Glenford Malone, Director, Investment Business Division, BVI Financial Services Commission, when asked to comment on the growth of the BVI's funds industry.
Like every fund jurisdiction, the estimated 40 per cent drop in new fund launches in the hedge fund industry last year negatively impacted the BVI. And as the costs of running a hedge fund business increase, some are choosing to call it a day and revert to
Barings has acted as mandated lead arranger of a senior secured credit facility to support Battery Ventures' portfolio company Forterro.
Forterro is a group of European enterprise resource planning (ERP) software companies serving small- to medium-sized enterprises across a variety of sectors.
The company will use the credit facility to refinance existing debt and to fund the acquisition of BPSC, a Polish provider of ERP software solutions for manufacturing, wholesale and retail customers.
"Battery Ventures appreciates the contributions of Barings' European private finance team in supporting Forterro on these strategic growth initiatives," says Morad Elhafed, partner at Battery
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