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Mercury UK Holdco, the majority shareholder of Istituto Centrale delle Banche Popolari Italiane (ICBPI), has acquired Setefi Processing and Intesa Sanpaolo Card (ISP Card), together known as ISP Processing, from Intesa Sanpaolo for an equity value of EUR1,035 million.
Mercury UK Holdco is owned by a consortium of funds managed by Advent International, Bain Capital Private Equity and Clessidra.
Setefi Processing, based in Milan, is the Italian payment processing platform of Intesa Sanpaolo, one of Europe’s leading banking groups and Italy’s number one commercial bank.
ISP Card is the payment processing platform of Intesa Sanpaolo’s Central and Eastern
Venture capital trust (VCT) and private equity manager Maven Capital Partners’ Maven Income and Growth VCT 6 has launched a new VCT offer, which is limited to GBP6 million in new subscriptions.
There continues to be strong investor demand for the tax-free income potential and up to 30 per cent initial tax relief available on VCT investment.
Maven VCTs have launched a series of VCT fundraisings in recent years, a number of which have been oversubscribed, but Maven VCT 6 is the only Maven VCT raising funds in this VCT season.
Maven has completed three realisations within the past 15
High Growth Robotics Limited has launched the British Robotics Seed Fund – the first investment fund specialising in UK-based robotics start-ups.
The focus of the fund is to deliver returns to investors by making targeted investments in promising UK-based seed-stage robotics under the Seed Enterprise Investment Scheme (SEIS).
Automation and robotisation are beginning to drive significant productivity improvements across the global economy. According to market intelligence firm Tractica, robotics is set to grow at rates in excess of 45 per cent with the global market to approach a quarter of trillion dollars by 2021.
There are currently no
Independently owned family office Stonehage Fleming has held the final close of the Stonehage Fleming Global Private Capital Fund 2016.
In conjunction with a number of new separate accounts, this takes the total the firm has raised for investment in private capital funds over the last 18 months to USD166 million.
The 2016 Fund is the first of a series of annual funds for the international family office’s new private capital programme. Each annual fund will invest in five to seven best-in-class managers which will provide underlying exposure to between 50 and 100 high quality portfolio companies.
The
BlackRock is to lead the next funding round in iCapital Network, a financial technology platform focused on democratising access to alternative investments for high-net-worth investors and their financial advisers.
Frank Porcelli, chairman of BlackRock’s US wealth advisory business, is to join iCapital’s board of directors and will work closely with the organisation as a strategic adviser.
Individual investors remain significantly under-allocated to alternative investments relative to institutional investors, but are increasingly exploring the critical role alternatives can play in state-of-the-art portfolio construction. iCapital’s online platform facilitates access to private investment opportunities through an independent origination and due diligence process that prioritises
ORIX Corporation has acquired a controlling interest in RB Capital Empreendimentos, a Brazilian capital markets and asset management platform.
The acquisition leverages ORIX’s strategy to expand its growing capital solutions and asset management business in Latin America.
“This acquisition is an important step in expanding ORIX’s footprint in Latin America,” says Hideto Nishitani (pictured), ORIX USA Corporation’s chairman, president and CEO. “RB Capital has a 17-year track record and a strong team of talented professionals. A strategic alliance with RB Capital gives ORIX the ability to extend our asset management and capital market business through an established operating platform.
The outlook for raising funds in the post-Brexit environment is the focus of a Guernsey funds masterclass to be held in London next year.
The event, which takes place at etc.venues in St Pauls on 8 February, will feature a panel debate among leading figures from the funds industry and a keynote speech from public affairs consultant Louise Harvey OBE MVO, who spent 13 years as a British diplomat working on EU issues in the Foreign and Commonwealth Office.
Harvey’s presentation will focus on the process of triggering and implementing Brexit, the negotiations that will entail and the political
Victory Park Capital (VPC) has provided a USD100 million senior secured credit facility to Cognical (d/b/a Zibby) to expand its omni-channel lease-to-own payment platform for in-store and online shopping.
The credit facility, along with the accompanying equity investment, will help the company grow and scale its lease portfolio, providing underbanked consumers with an affordable alternative for acquiring durable consumer goods such as furniture, appliances and electronics.
“Zibby has identified an underserved lease-to-own financing niche within the non-bank financial services landscape and has developed the underwriting and risk analytics to capitalise on it,” says Gordon Watson, partner at VPC. “Zibby
Griffin Capital Corporation has appointed Diana L Keary as senior vice president, head of marketing.
In her new role, Keary will assume a variety of responsibilities, including designing and executing strategies to expand the company’s brand awareness among its key constituents, including investors, financial advisers and their broker-dealers and registered investment advisers; directing all Griffin Capital product marketing; and interacting with various media platforms.
Kevin A Shields, chairman and CEO of Griffin Capital, says: “We are extremely fortunate to have attracted a seasoned professional of Diana’s experience and talents, and we welcome her to our firm and to our
D E Shaw Renewable Investments has acquired the Mississippi Solar 2 project from Origis DevCo.
The project is a 52 MWAC solar power facility located three miles away from Sumrall in Lamar County, Mississippi.
Promptly following the acquisition, DESRI started construction of the project, which it expects to be completed in Q2 2017.
“We greatly appreciate the effort from all of our partners in helping launch construction on DESRI’s first project in the Southeast,” says Bryan Martin, CEO of DESRI. “We are excited to expand our footprint into Mississippi with a ground breaking project that we expect will provide
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