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British Business Bank Investments has announced the first facility under its new expansion capital initiative, which supports finance providers who lend to smaller businesses.
The first transaction is a GBP16.5 million revolving credit facility for Kingsway, a Cheshire-based asset finance specialist. It is expected to increase Kingsway’s leasing capacity by up to GBP25 million, supporting investment in plant and machinery across the UK.
The expansion capital initiative, developed by British Business Bank Investments as part of its investment programme, enables it to support the development of diverse debt finance markets more effectively.
Under the new initiative, British Business
This week’s recommendation on extending the alternative investment marketing ‘passport’ to fund managers in up to 12 non-EU countries is an important step towards improving choice for investors, says Invest Europe.
The European Securities and Markets Authority (ESMA) has presented its latest recommendation to the European Commission on extending the European Alternative Investment Fund Managers Directive’s (AIFMD) passport to funds and fund managers in key jurisdictions outside of the EU. This would allow these ‘third countries’ to manage and market their funds to investors based in the EU.
As part of its country-by-country assessment, ESMA has advised that there are
The Jersey Financial Services Commission (JFSC) has welcomed the European Securities and Markets Authority’s (ESMA) recommendation to the European Parliament, Council and Commission that Jersey should be among the ‘third countries’ granted an AIFMD passport.
The JFSC has fully engaged with ESMA and has been working closely with member state regulators as part of the assessment process.
Following ESMA’s advice, there is now a period of up to six months for the European Commission to propose appropriate legislation and for the European Parliament and Council of Ministers to agree to the third country passporting rules becoming applicable to Jersey
Guernsey has been recommended for a third country passport under the Alternative Investment Fund Managers Directive (AIFMD) by the European Securities and Markets Authority (ESMA).
The independent EU regulatory authority has assessed Guernsey, alongside 11 other non-EU jurisdictions, as part of its non-EU AIFMD passport reviews.
In its final assessment, ESMA has concluded that “there are no significant obstacles regarding investor protection, competition, market disruption and the monitoring of systemic risk impeding the application of the AIFMD passport to Guernsey”.
ESMA’s advice will now be considered for approval by the European Commission, Parliament and Council before they activate
FOS Capital Partners, a private equity investment firm specialising in healthcare technology companies throughout North America, has appointed Raymond Wu as vice president.
Wu and the investment team manage the Future of Surgery Fund, a partnership dedicated to fund highly innovative medical and surgical technology opportunities.
The fund is led by a team with deep experience in the medical and surgical device industry and has served in key executive roles within engineering, medical and scientific environments. This expertise unearths important growth segments among independent med tech and health IT segments, which are experiencing high levels of innovation and entrepreneurial
Bloomberg has held the close of a second USD75 million fund with venture capital firm Bloomberg Beta.
The new fund, which will focus on the future of work, will build on Bloomberg Beta's specialty in machine intelligence.
Bloomberg has made significant investments in technology, systems and applications, employing 4,000 technologists and engineers who build and support a platform that moves markets around the world.
Bloomberg Beta expands on those investments by investing in companies that make business work better.
The announcement comes three years after the formation of Bloomberg Beta's first fund. Since that time, Bloomberg Beta's
Operations technology startup Predictive has acquired 2338 Technologies, an early-stage, privately-backed startup developing machine learning technologies.
The purchase price has not been disclosed.
2338’s technology will now power PredictiveOps, a SaaS application that is aiming to transform language in hedge fund documents and regulatory filings into useable data for operations planning and automation.
As part of the transaction, 2338’s founder and CEO Carl P Evans III has agreed to join Predictive as co-founder, chief product officer, and corporate counsel. Evans brings over 15 years of software, hardware, robotics, machine learning development, and technology management experience to Predictive.
Three Hills Capital Partners (THCP) is to sell its stake and its debt position in Dedalus Holding, owner of Dedalus Spa.
Dedalus is a provider of healthcare software systems in Italy and has recently announced the acquisition of Noemalife to create the largest software operator in the Italian healthcare sector, and one of the largest players in Europe.
Following the signing of the agreement, Ardian will acquire 60 per cent of Dedalus Holding, including 10.41 per cent from Dedalus’ founder Giorgio Moretti, 14 per cent from HC Leo (30 per cent owned by THCP and 70 per cent by
NorthEdge Capital, a private equity firm focused on the North of England, has backed the management buyout of home furnishings group Belfield Furnishings.
Founded in 2002, Belfield is the UK’s largest white label manufacturer of home furnishings and one of Europe’s largest manufacturers specialising in the wholesale and distribution of products including upholstered furniture, soft furnishings, mattresses and curtains.
The company, which is headquartered in Ilkeston, Derbyshire, works with a range of blue chip, high street retailers including M&S, Next, Ikea, John Lewis and Furniture Village. Belfield reported turnover of GBP132 million in the 12 months to December 2015.
Private equity firm Mid Europa Partners has appointed Thierry Baudon, its founder and managing partner, as executive chairman.
Robert Knorr and Matthew Strassberg will take over as co-managing partners on 1 August 2016.
As executive chairman, Baudon will continue to chair Mid Europa’s investment committee and focus on the firm’s medium term strategic development.
With their appointment as co-managing partners, Knorr and Strassberg will assume overall management responsibility for the business and steer Mid Europa’s investment strategy. Knorr and Strassberg joined Mid Europa in 1999 and 2002, respectively. They have served on the firm’s investment and management committees for a
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