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Rainer Traugott is to join Latham & Watkins as a partner in the Corporate Department of the firm’s Munich office.
Traugott’s practice focuses on the representation of large German corporates and private equity firms on M&A transactions and a broad range of corporate law matters.
Traugott will bring more than 20 years of experience advising high profile strategic and private equity clients in M&A transactions. He has also built a strong reputation in company representation work, including advice to the management and supervisory board and corporate governance matters.
“We are delighted that Rainer will join the firm,”
A survey of private equity investors has found that 30 per cent feel their investments have exceeded their expectations over the past year, up from 17 per cent that felt that way in December 2014.
Only 6 per cent of investors surveyed as part of Preqin’s 2016 Global Private Equity and Venture Capital Report reported that their investments had fallen short of expectations in 2015. A record USD475 billion was distributed from private equity funds in 2014, and a further USD189 billion was returned to investors in H1 2015. This means many investors will need to reinvest more capital to
Senior executives at financial services firms are concerned that regulation in the sector is not promoting stability, according to the 2016 Global Regulatory Outlook published by Duff & Phelps.
A majority of 193 C-Suite and senior level staff polled by the firm believe that regulation is having little or no effect on stability, and potentially making the industry less stable.
Asked if regulatory changes in recent years have created adequate safeguards to prevent a future crash, only 6 per cent of respondents felt able to give an unqualified “yes”. Of the remainder, 37 per cent says they had not,
Blackstone has appointed Peter Grauer to the firm’s board of directors. Grauer has been the Chairman of Bloomberg, the global business and financial information company, since March 2001 and joined Bloomberg full time as President and Chief Executive Officer in March of 2002.
Commenting on the appointment, Stephen A Schwarzman, Blackstone’s Chairman and CEO, said: “We could not be more pleased about the addition of Peter Grauer to our board of directors. He brings a deep knowledge of the financial industry as well as a broad perspective on global business that will be immensely valuable to Blackstone in the years
Lightyear Capital (Lightyear), a New York-based private equity firm focused on financial services investing, today announced that
Investment funds affiliated with private equity firm Lightyear Capital and the Public Sector Pension Investment Board (PSP Investments), are to acquire AIG Advisor Group, a subsidiary of American International Group (AIG).
Terms of the transaction, which is subject to customary regulatory and other approvals, have not been disclosed.
Advisor Group is one of the USA’s largest networks of independent financial advisors with more than 5,200 independent advisors and USD160 billion in client assets under administration. Advisor Group provides comprehensive broker-dealer services,
Global M&A activity in the insurance sector hit new highs in 2015, with EUR129.3 billion (USD143.5 billion) worth of transactions announced during the year, according to Towers Watson’s latest Insurance M&A Annual Report.
The reports says that this surge reflects a number of macro themes, including the continued availability both of cash on balance sheets and affordable capital in a post-financial crisis environment. Underlying these, there are some emerging themes that have been identified from our survey results:
The drive for top-line growth. Almost half of the insurers doing deals were seeking to enhance their market position and increase
Northleaf Venture Catalyst Fund (NVCF) has made commitments totalling USD30 million to two leading Canadian venture capital funds: iNovia Investment Fund 2015 and Information Venture Partners II.
These recent commitments are in addition to the commitments that NVCF has already made to a number of other top Canada-based/focused venture fund managers (including Georgian Partners, XPV Water Partners, Golden Venture Partners, VersionOne Ventures, Versant Ventures and Relay Ventures) and a number of direct co-investments in innovative, high-growth Canadian companies (including Wattpad, Silanis, eSentire, Vision Critical, FreshBooks, Scribble Technologies and Zymeworks).
“We are very pleased to be a lead investor in
Private equity firm Monomoy Capital Partners’ portfolio company, Katun Corporation has completed a successful USD52 million recapitalisation with HSBC and Comvest Capital.
The proceeds of the recapitalisation were used to repay Katun’s existing debt and to pay a substantial dividend to Katun’s shareholders.
Katun is one of the world’s leading providers of OEM-compatible imaging supplies, toner, photoreceptors, and parts for copiers, printers, and other imaging equipment. Today’s dividend returns all of Monomoy’s investment plus a substantial profit for Katun’s shareholders. Following the recapitalisation, Katun remains conservatively capitalised with the continued support of Monomoy, a private equity firm with over
Mid Europa Partners a private equity firm focused on buyouts in Central and Eastern Europe and Turkey, has promoted Dominika Kozlowska-Login and Viktoria Habanova to Associate Directors, Lukasz Wlodarczyk to Senior Associate and Bartosz Malecki, Can Karapence, Filip Kisdobranski and Tomas Vrba to Associates.
Additionally, Berke Biricik, Csanad Daniel and Ratko Jovic were promoted to Associate Directors earlier in 2015.
Thierry Baudon, Mid Europa's Managing Partner, says: "I am delighted to announce the promotions within the Mid Europa team. The new level of responsibility accorded to the team members recognises their considerable contributions to the Partnership to date and
Adams Street Partners has appointed industry veterans Bill Sacher and Shahab Rashid to establish and build a private credit platform. The pair will lead the firm's credit capabilities from a new Manhattan office.
Adams Street provides investors with access to high-quality private company securities, both directly and indirectly, through a full suite of private equity products across primary, secondary, venture/growth equity and co-investment markets. Sacher and Rashid will formalise the firm's efforts in the private credit space, which will focus on a broad array of opportunities in credit alternatives on a global basis.
Jeff Diehl, Managing Partner at Adams
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