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Acorn Growth Companies, a private equity firm investing exclusively in aerospace and defence, has acquired Seattle-headquartered Raisbeck Engineering.
Founded in 1982 by aeronautical engineer and entrepreneur James D Raisbeck, Raisbeck Engineering develops, markets and manufactures worldwide-certified performance improvement systems for some of the most prolific commercial and general aviation aircraft models.
"Thanks to James Raisbeck's vision and the dedication of his team, Raisbeck Engineering is one of the most prominent names in the aviation community, with an exceptional reputation for its innovative contributions to the industry," says Rick Nagel, managing partner of Acorn Growth Companies. "We have a common
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has been named the Best North American Cloud Services Provider in the Hedgeweek USA Awards 2016.
The awards, which celebrate the achievements of the best performing managers and service providers in the US hedge funds industry, are unique in that they are based on a peer review system.
The winners were determined by the votes of Hedgeweek's subscribers, who include institutional investors, wealth managers, fund managers and other industry professionals at firms including fund administrators, prime brokers, custodians, law firms, custodians and advisers.
One of the largest venture capital investors in the UK, Albion Ventures, is to acquire GBP490 million OLIM Investment Managers from Close Brothers Group.
OLIM is a fund manager specialising in UK quoted equities with a particular focus on charities, for which it manages GBP240 million, and in investment and other trusts (GBP170 million) and private clients (GBP80 million). The business was founded in 1986 and has been part of the Close Brothers Group since 2000. Angela Lascelles, the joint founder, will remain Chief Executive of OLIM and the existing investment management team will continue to manage its range of
Maples Fund Services, a division of MaplesFS and an independent global fund services provider, is celebrating the 10th anniversary of the opening of its Hong Kong office.
Commencing operations in Hong Kong in 2006, Maples Fund Services provides accounting, middle office, risk reporting and administration services to a client base which includes investment management firms, institutional investors, pension plans and global financial institutions.
Eastern Fong, regional hedge of fund services – Asia, has overall responsibility for the business operations of Maples Fund Services in the Asia Pacific region. Having joined the firm in 2006, he has played a crucial
Raiffeisen Bank International has implemented SmartStream Technologies’ Corona Cash and Liquidity reporting solution to monitor and manage cash positions on an intraday basis, throughout the group.
The Basel Committee on Banking Supervision has released ‘Principles for Sound Liquidity Risk Management and Supervision’ for intraday liquidity management with a target date of January 2017.
In 2014, Raiffeisen Bank International decided to take a forward thinking approach to combat the impact of the regulation by implementing the Corona Cash and Liquidity reporting solution throughout the Raiffeisen Banking Group Austria. The solution was the result of a collaboration between SmartStream’s product development
Kuflink, a peer-to-peer lending platform where loans are secured against UK based property, is integrating Contego’s multi-source identity verification and risk-scoring platform to carry out Anti-Money Laundering (AML) checks on individuals.
Kuflink selected Contego’s identity verification and risk-scoring platform to support its checking requirements as part of its lender onboarding process.
To comply with AML regulation, Kuflink has to verify the identity of its lenders, screening against PEP and sanction lists, and checking identity documents.
Contego is working with Kuflink to create a bespoke risk scorecard to manage the complexity of onboarding, checking both people and companies simultaneously,
Canadian investment bank FirePower Capital has launched an asset management arm that will provide debt financing to lower mid-market Canadian businesses.
The FirePower Private Capital Division, a specialist 'Gap Debt' lender, aims to assist lower mid-market Canadian businesses searching for capital to continue to grow.
"Canadian entrepreneurs just do not get their due in this country," says FirePower's founder and chief executive officer Ilan Jacobson. "Quite simply, businesses here do not have access to what their US counterparts do in terms of next-stage, growth financing, which is stifling innovation and giving Canadian entrepreneurs a bad rap."
With backing
FreshDirect, a US online food retailer, has closed a USD189 million investment round led by JP Morgan Asset Management on behalf of its PEG Digital Growth Fund II, returning investor W Capital and other investors advised by JP Morgan Asset Management, including the AARP Innovation Fund.
“We are thrilled to partner with a group of world-class investors led by JP Morgan Asset Management at this pivotal time for FreshDirect. The funding will fuel expansion into new markets, increase capacity with new manufacturing and distribution facilities, and launch new businesses that meet today’s consumers’ needs as their preferences and buying habits
Skyhigh Networks, a cloud access security broker (CASB), has secured a USD40 million Series D financing round, bringing the company’s total capital raised to USD105.5 million.
Thomvest Ventures led the round, with participation from Sequoia Capital and Greylock Partners.
In conjunction with the financing, Umesh Padval, venture partner at Thomvest, has joined the Skyhigh Networks board of directors.
The latest round of funding comes with an increase in the valuation of the company from the last round. Skyhigh plans to use the funding to accelerate its go-to-market investments and extend its leadership in the rapidly growing cloud security
Equistone Partners Europe, a European investor in mid-market buyouts, has acquired a majority stake in D3T Distribution, the holding company of Motoblouz and Access-Moto, from Inspirational Stores for an undisclosed sum.
Following the deal, Motoblouz’s co-founder and CEO Thomas Thumerelle will continue in his current role.
Founded in 2004 and headquartered near Lille, France, Motoblouz has grown to become the leading online retailer of motorcycle accessories and clothing in the French market. For the business year 2015/2016 the company reported sales of approximately EUR38 million, representing an increase over the prior year of almost 30 per cent.
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