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Altarius Asset Management (Altarius) and Portcullis Asset Management Limited (Portcullis), both licensed by the Malta Financial Services Authority (MFSA), have formed a strategic alliance to deliver a full suite of evolutionary AIFM services to alternative investment funds regardless of their AUM.
This evolutionary strategic alliance allows early stage managers to seamlessly adopt a full scope AIFM from a “de-minimis”. Many mangers who have experienced their AUM increase faster than expected have found the step from de-minimis to a full-scope AIFM to be disruptive, affect performance, distract from core activities and ultimately slow subscriptions at a critical growth point for the
The Valence Group has advised Eurazeo on its acquisition of Novacap for an enterprise value of EUR654 million (USD746m1), plus up to a EUR30m (USD34m) earn-out.
Following the acquisition, Eurazeo will become the majority shareholder of Novacap with 67 per cent of the equity capital, alongside Mérieux Développement (9 per cent), Ardian (18 per cent) and management (6 per cent). Pending the approval of regulatory authorities, the transaction should be completed by the summer.
Novacap is an international group that produces and distributes Active Pharmaceutical Ingredients (APIs) and essential chemicals products that are used in everyday applications such as aspirin,
Innova Capital Partners and a subsidiary of The Goldman Sachs Group have formed a joint venture to support the development of telecommunication assets throughout the Republic of Colombia.
The joint venture will provide financing to Golden Comunicaciones, SAS (Golden), a Colombian mobile infrastructure designer and developer, for the construction of cell phone towers in the region. Golden is a member of the Innova Latin American Development Program.
“We have built our platform by finding talented industry focused teams such as Golden, and we are pleased to add a financing provider like GS to help us achieve our plans to expand
Venture capital fund Accel has launched Accel London V, a USD500 million fund which will focus on investment opportunities in Europe and Israel. The UK has been and will remain a priority market for investment.
Accel opened its London office in 2000 with the strategy to partner with extraordinary entrepreneurs, who have the ambition to build category-defining businesses, and invest in private companies at any stage from inception to growth. Since then, technology innovation and entrepreneurship have blossomed across Europe and Israel. Accel has backed teams across 19 countries in all technology sectors. These range from enterprise, including software infrastructure,
Milbank has advised Entertainment One (eOne) on its offering of GBP285 million 6.875 per cent senior secured notes due 2022 and a new GBP100 million revolving credit facility (the RCF) due 2020.
The successful issuance of the Notes, despite difficult market conditions, particularly in sterling-denominated notes, and the RCF has strengthened eOne’s financial position and extended its debt maturities to 2020 and beyond.
As a part of the refinancing process, Milbank worked with eOne to create a framework to exit eOne’s existing credit facilities, which were due to mature in 2018, and supply it with the flexibility the growing first-time
Forbion Capital Partners (Forbion), a dedicated life sciences venture capital firm, has held the final closing of its third main fund Forbion Capital Fund III (FCF III), raising a total of EUR183 million.
FCF III has an investment strategy similar to its predecessor fund, FCF II, aiming to invest the majority of the fund (around 70%) in Europe and the remainder in the US and Canada. The investment focus is on private companies developing novel drugs, medical devices and diagnostics for high, or even unmet, medical needs.
FCF III is serving a market that is both driven by the pharmaceutical
Robert Bosch Venture Capital GmbH, the corporate venture capital company of the Bosch Group, has set up its third fund with EUR150 million.
“Robert Bosch Venture Capital successfully shapes the innovation leadership of Bosch through valuable connections to the start-up ecosystem”, says Dr Volkmar Denner, Chairman of the Board of Management of Robert Bosch GmbH.
Its investments give Bosch an early access to disruptive innovations generated by the start-up ecosystem. Furthermore, the activities of Robert Bosch Venture Capital support Bosch’s technology leadership with open innovation powered by start-ups.
With its third fund, Robert Bosch Venture Capital now has EUR420 million
Institutional investors are turning their favourable attitudes about the marketplace lending industry into action, increasing their investment in the sector over the past year, according to a new report by Richards Kibbe & Orbe LLP and Wharton FinTech.
Their 2016 Survey of US Marketplace Lending finds that half of all institutional investors surveyed have made some form of investment in marketplace lending, up from less than 30 per cent just one year ago.
The second annual survey illustrates solidifying confidence among investment funds in the disruptive industry of marketplace lending, which challenges the traditional bank lending model by connecting borrowers
Tim Draper, founder of DFJ and the Draper Venture Network and early investor in Skype, Baidu, Tesla, TwitchTV, Hotmail, Cruise Automation, and Thumbtack, has closed a USD190 million early stage venture fund under the brand Draper Associates.
Draper Associates has historically been a personal investment vehicle for Draper, and this fund represents the first time the opportunity has been offered to outside LPs. “We believe that the venture capital business and finance generally is going through a transformation and we raised this fund to lead that change,” says Draper. “We have created an ecosystem that we believe will give Draper-backed
A GBP1 trillion coalition of 54 institutional investors, including Aviva Investors, Natixis, ACTIAM, Mirova, Coller Capital and Strathclyde Pension Fund, has launched an engagement campaign with ten of the biggest US and UK restaurant chains, to call for an end to non-therapeutic use of antibiotics important to human health in their global meat and poultry supply chains.
The companies include J D Wetherspoon, McDonald’s and Domino’s Pizza Group, which holds its AGM later this month (20 April). The coalition has been brought together by the Farm Animal Investment Risk & Return (FAIRR) Initiative and responsible investment charity ShareAction, with the
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