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MUFG Investor Services, the global asset servicing arm of Mitsubishi UFJ Financial Group, has appointed Michael McCabe as Sales Director.
McCabe joins from BNY Mellon’s Alternative Investment Services business where he spent more than 10 years leading the North American business development team, following senior roles in operations and relationship management.
With more than 30 years’ experience in the alternative investment industry, McCabe will play a key role in driving business development in North America for MUFG Investor Services’ asset servicing solutions across hedge funds, fund of funds and private equity/real estate funds. These solutions include fund administration, middle-office outsourcing,
HIG BioHealth Partners (HIG), the dedicated healthcare investment affiliate of private equity firm HIG Capital, has sold NeuWave Medical (NeuWave) to Ethicon, a medical device company of the Johnson & Johnson family of companies.
NeuWave is a privately held medical device company that manufactures and markets minimally invasive soft tissue microwave ablation systems. Their products are currently used by physicians in leading cancer centers throughout North America. Financial terms of the transaction were not disclosed.
Michael Wasserman, PhD, an HIG Managing Director and NeuWave board member, says: “Together with NeuWave’s talented management team, we successfully grew the company into a
Preqin’s 2016 Sovereign Wealth Fund Review shows that, despite global market volatility and low oil prices, the AUM of sovereign wealth funds globally increased by USD200 billion over the previous year to reach USD6.51 trillion in March 2016.
This growth was driven by non-commodity funds which added USD290 billion in assets; hydrocarbon funds lost USD10 billion, while other commodities funds saw their AUM more than halved from USD130 billion to USD50 billion. Forty-five percent of sovereign wealth funds saw their assets increase over the 12 month period, while 19 per cent saw their AUM remain the same as in March
Ardian’s latest cycle of fundraising has attracted investment of USD14 billion, comprising USD10.8 billion from Ardian’s seventh generation secondary platform and USD3.2 billion of primary investments.
This comes less than two years after Ardian raised USD10 billion through its previous round of fundraising. Ardian has now raised USD27.4 billion for secondary investment in under five years.
This latest round of fundraising confirms Ardian as a global leader in Funds of Funds, attracting major institutional investors from North America, Europe, the Middle East, Asia and South America. In total, this amounts to 180 investors from 26 different countries. Around 25 per
Monroe Capital has acted as sole lead arranger and administrative agent on a USD63 million senior credit facility to support an investment in Familia Dental Group Holdings (Familia) by private equity sponsor, The Halifax Group.
Headquartered in suburban Chicago, Familia provides quality, affordable dental care to underserved populations in smaller markets across five states. The company provides general dentistry, orthodontics and oral surgery services to over 250,000 patients annually.
The business was founded in 2008 and now has 31 clinics, half of them in the Upper Midwest, with several expected openings slated for later this year.
The Association of International Wealth Management of India (AIWMI), in conjunction with a number of big-name fund houses, has set up the Indian Association of Alternative Investment Funds (IAAIF).
IAAIF aims to set standards and provides a voice for the emerging alternative investments sector in India.
The current Charter Members of IAAIF are Ambit Investment Advisors, Arthveda, Ativir, DSP Blackrock Investment Managers, Edelweiss Alternative Asset Advisors, Harmony Capital, India Infoline Asset Management, IFMR Investment Managersand Unifi Capital, with many other institutions currently in the on-boarding stage. Current Affiliate Members are Milesoft Technologies & Amicorp Trustees.
India’s alternative investment funds (AIFs),
Trowers & Hamlins' corporate team has advised the shareholders on the sale of cloud service provider Carrenza Limited to Six Degrees Technology Group Limited (6DG), for an undisclosed sum.
Carrenza was an early promoter of enterprise cloud computing, launching the Carrenza Cloud in 2006, and provides Infrastructure as a Service (IaaS) and Platform as a Service (PaaS) cloud services for hosting mission-critical applications and websites for public, private and third sector clients, including RBS, de Bijenkorf, Majestic Wine, WWF and Age UK. Carrenza also host OFFICIAL security certified G-Cloud services with a public sector client base which includes Government Digital
Ogier has assisted Medicxi Ventures, formerly Index Ventures Life Sciences, with its formation as an independent life sciences firm. Medicxi Ventures comprises all of the existing life sciences portfolio companies, funds and team from Index Ventures.
The Ogier team also worked with Medicxi Ventures on the establishment of Medicxi Ventures I, a new fund focused on early-stage life sciences investments in Europe, which has raised 210 million euros with GlaxoSmithKline and Johnson & Johnson Innovation-JJDC Inc. The closing of Medicxi Ventures I consolidates the position of Medicxi Ventures as one of the largest life sciences focused venture firms in Europe.
BMO Global Asset Management has released its latest white paper, titled "Finding a new balance with alternatives,” which considers the evolution of the traditional 60/40 equity/bond balanced portfolio split over the past several decades and concludes that, given the current market environment, investors should consider including alternative strategies to generate potentially stronger returns.
Alternative investments feature a diverse group of strategies and management styles. Among those often included within liquid alternatives mutual funds are equity hedge, credit, relative value and macro-driven tactics. Combined within a multi-manager fund, the overall objective typically emphasises absolute returns – relying less on the direction
Quercus Assets Selection and Swiss Life Asset Managers have completed a deal to acquire Antin Solar Investments (ASI) in a 50:50 joint venture. ASI now operates as Azienda Solare Italiana Spa.
On 18 December 2015 the joint venture, called Quercus Swiss Life Italian Solar Srl, had entered into a binding agreement with Antin Infrastructure Partners to acquire a 100 per cent stake in ASI.
Founded in 2011, ASI has become a leading photovoltaic (PV) investment platform in Italy. The portfolio today consists of nine plants with a total installed capacity of 77.1 MW, and is the fifth largest operator in
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