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Farallon Capital Management has completed fundraising for Farallon Asia Special Situations III and Farallon Asia Special Situations Master III, an Asia and Latin America focused private investment pool, with aggregate commitments of USD1.12 billion.
"We are very excited to begin investing FASS III and want to thank all of our investors for their continued commitment to Farallon. We take pride in providing flexible and strategic capital solutions to entrepreneurs, key families and business groups, even in a challenging business environment. We look forward to partnering with them to capitalise on the robust opportunity set that we see in Asia," says
HIG Bayside Capital, a credit affiliate of HIG Capital, has held the first close of IDeA CCR (Corporate Credit Recovery) I Fund, an investment platform managed by IDeA Capital Funds SGR (IDeA), at EUR260 million.
The fund, which comprises two sub-funds – a Credit Fund and a New Money Fund – will invest in Italian mid-sized enterprises in distressed situations, aiming to help them restructure and turnaround, and consequently help banks maximise the recovery of their original loans.
The Credit Fund consists of the loans in eight companies contributed by seven leading banks in Italy: UniCredit, BNL/BNP Paribas, Banca
Horama, a specialist in ophthalmic diseases gene therapy, has completed a EUR4 million Series A financing with a syndicate composed of Omnes Capital, Sham Innovation Santé advised by Turenne Capital and GO Capital (via its fund GO Capital Amorçage).
This fundraising will support the development of two products, HORA-PDE6B and HORA-RLPB1, as well as the reinforcement of Horama’s team.
Christine Placet, formerly chairman of the management board at Trophos, sold to Roche in 2015, recently joined the company as managing director and investor. Several recruitments are currently in progress to build a specialised team of experts in drug development.
Italian fund 21 Investimenti III is to acquire Philippe Model, a high-end fashionable leisure shoe brand based in the heart of the Riviera del Brenta Italian footwear district and distributed worldwide by top luxury wholesalers.
Founded in 2008 by the Italian designer Paolo Gambato, the company reached sales of over EUR30 million in 2015. Currently about 50 per cent of revenue is realised outside Italy: 40 per cent in Europe (mainly Germany, France and the Netherlands) with the rest in markets such as Japan and South Korea.
The company’s founders were looking for a financial partner to sustain the
Sofiprotéol and Tikehau Investment Management have launched a private debt fund called Sofiprotéol Dette Privée, which will finance the development of agro-food and agro-industrial companies of all sizes through bullet loans or leveraged acquisition financing.
This financing vehicle will be an addition to those already initiated by Sofiprotéol.
As part of the partnership, Tikehau IM will be able to call on Sofiprotéol’s extensive sector expertise. Financed initially by Sofiprotéol and Tikehau Capital alongside a group of first-tier institutional investors, the fund will have more than EUR100m at the first closing, with a target of EUR200m in commitments.
Mathieu
Campbell Lutyens has made a number of senior promotions in its London and Hong Kong offices.
Edward Hutton has been promoted to partner. He joined Campbell Lutyens in 2007 and has responsibility for the firm's general partner and limited partner relationships in the Nordic countries and also shares responsibility for investor coverage in the UK. He has raised significant capital for a broad range of clients' funds across private equity, infrastructure and private debt, helped to source fundraising mandates, and has been instrumental in generating secondary opportunities for the firm.
The firm has also promoted Xiaoni Shi, who is
Cloud technology – The scale of a manager's IT infrastructure will largely depend on the type of trading strategy. A quantitative market neutral statistical arbitrage fund is likely going to spend more capital on front-office portfolio management, risk management systems and server storage capabilities than a specialist credit strategy that trades infrequently.
Either way, investors will expect the manager to have a well-oiled machine in place: well-established workflow processes, operational controls, and, as far as possible, front- to back-office system integration.
One of the most popular routes to establishing a sound technology infrastructure is to appoint an outsourced cloud provider. It
By Dean Hill, Executive Director, Eze Castle Integration – There is no shortage of threats to financial services firms, and the list of requirements from investors and regulators alike is growing at a rapid pace. As a startup, it's important to demonstrate to investors that you take your business seriously, hence, investments in operational excellence are required. On the cybersecurity front, that means leveraging technology infrastructure with robust, security-rich features including intrusion detection and ongoing traffic monitoring, regular vulnerability assessments and next-generation software, firewalls and patches to keep hackers out and firm assets secure.
But beyond technology safeguards, today's successful
A recent survey by Preqin revealed that 60 per cent of hedge funds have less than USD100 million in AUM and that only five per cent of hedge fund flows go to funds operating below that AUM level.
There are now approximately 15,000 hedge funds in the industry, meaning investors are being bombarded by different funds every single day and thousands over the course of a year. They probably meet with 200 or so, engage in follow-up meetings with around 40 and allocate to two or three.
As such, there is one certainty that start-up managers can be sure of
There are a number of important considerations for a fund manager, especially a start-up, when it comes to selecting an onshore depositary to an onshore AIF. But before these are explored, it is perhaps worthwhile explaining exactly what the role of the depositary is under AIFMD, given that alternative fund managers have never had to use one before.
Safekeeping of the AIF’s assets
There are two parts to this. Firstly, providing custody of financial assets that are held directly by the depositary (i.e. stocks and bonds, options and futures). Secondly, performing record keeping and ownership verification of an AIF's assets,
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