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The outcome of the US presidential election represents a significant threat to merger and acquisition (M&A) activity over the next six months, according to a survey of over 1,600 global dealmakers by Intralinks.
Respondents from North America predict the US presidential election will have the greatest impact on M&A activity in their region over the next six months, despite the other significant economic factors in play such as the threat of further interest rate rises.
A weak global economy, China, the prospect of further US interest rate rises in 2016 and the UK’s Brexit vote all registered as significant
Pacific Fund Systems (PFS), the software company behind fund administration solution PFS-PAXUS, has opened its European operational headquarters in Douglas, Isle of Man.
PFS’s chief operating officer Paul Kneen (pictured) says: “PFS is a global software development company providing a powerful niche investment accounting and fund administration solution to a global client base, which has grown successfully year-on-year since the firm’s inception in 1999. The decision to locate our European operational headquarters on the Isle of Man was based on the clear benefits available; access to attractive modern office space and a talent pool of skilled industry professionals, supported by
Private equity house Key Capital Partners (KCP) has exited its interest in Gear4Music, selling its remaining shares for GBP9 million, which combined with earlier partial exits has generated a five times return on investment.
The GBP55 million turnover online musical instrument retailer has seen growth in recent years following KCP’s backing in 2012 when it took a 30 per cent stake in the company.
Established in 2003 and based in York where it has a showroom and distribution centre, Gear4Music is an online seller of musical instruments including guitars, drum kits, digital pianos, saxophones and cellos, plus recording and
Katipult has partnered with Mangopay to launch a disruptive lending solution in the UK, providing what it says is a “secure and flexible transaction environment to manage the incoming and outgoing payment flows”.
Launching its solution in Europe, Katipult decided to partner with Mangopay to enable platforms to hold lender funds and receive earnings in a wallet in a secure and compliant way.
Holder of an e-money issuer licence passported to all 31 EEA countries, Mangopay is a multi-currency payment solution which accepts cards, bank transfers and direct debit.
Brock Murray, CEO of Katipult, says: “Katipult is excited
The new global head of Ogier’s banking and finance practice has targeted growth in its global fund finance business, as the law firm announces a number of senior team changes.
Cayman Islands-based Angus Davison takes over the global role, while partner Katrina Edge has taken on responsibility for the European region, covering Guernsey, Jersey and Luxembourg.
With a particular focus on providing regulatory and other advice to international banks and other financial institutions with Cayman Islands branches or subsidiaries, Davison also advising clients on debt issues, facility arrangements and Islamic finance structures.
Edge advises clients on a wide
Modern Energy Management (MEM), which delivers project lifecycle certainty to renewable energy developers, financiers and investors, has appointed Jack Kneeland as head of finance and Supattana (Tina) Ngimhoung as financial controller.
Kneeland and Ngimhoung will be based out of the firm’s Bangkok office, working on wind energy development projects.
Kneeland joins MEM from AWR Lloyd, where he worked as a managing director for several years. He also acts as a partner for Clean Energy Advisors, which aims to create investment opportunities in the renewable energy sector.
Ngimhoung previously spent five years as a senior financial advisory manager at
Neuberger Berman has closed the NB Private Debt Fund II with USD750 million of limited partner commitments.
The fund seeks to invest in the junior debt of private equity-backed companies, including unitranche loans, second lien loans, and mezzanine debt securities.
Including the fund, Neuberger Berman manages approximately USD2.3 billion of committed capital focused on investing in the credits of private-equity backed companies in both the primary issuance market and through secondary purchases. The average investment size across the business is between USD50 million and USD100 million.
The fund’s global investor base is comprised of more than 25 institutions,
Preqin’s latest update on private equity reports that 2015 witnessed record levels of capital distributions (USD443 billion), surpassing that of the previous record high in 2014, when fund managers return USD424 billion to investors.
2015 also marks the fifth consecutive year in which capital distributions outstripped capital calls, Preqin writes. With these high levels of distributions currently seen in the industry, it seems that investors are still committed to the asset class: over half (56 per cent) of investors active in private equity are planning to increase their allocation in the longer term.
“Furthermore, private equity dry powder continues
The Innovative Finance ISA (IFISA) is attracting new investors to peer-to-peer (P2P) investing, and potentially opening up access to billions of pounds of financing for UK SMEs, according to Crowdstacker.
The data is taken from a six-month summary of Crowdstacker, one of the few P2P platforms authorised to offer an IFISA since the product was introduced in April 2016.
It shows that for every 10 IFISA investments made, nine come from investors who have not invested with the platform before. The average amount invested using the IFISA is GBP7,700. Just under one in five (18 per cent) have used their
Asian healthcare provider Columbia Pacific Management is partnering with Temasek, an investment company based in Singapore, on a joint venture that will provide China’s growing middle-class population with affordable, patient-centred care across healthcare and senior services.
Temasek is investing about USD250 million in Columbia China, the China healthcare arm of Seattle’s Columbia Pacific Management, which will result in a 50/50 joint venture with Columbia Pacific.
Columbia China currently has a 220-bed orthopaedic hospital, two multi-specialty clinics and three senior living facilities in Shanghai and Beijing. The company is also developing three multi-specialty hospitals of 300-500 beds, in Wuxi, Jiaxing and Changzhou,
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