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The European Securities and Markets Authority (ESMA) has made a recommendation to the European Parliament, Council and Commission, that Jersey should be amongst those ‘third countries’ granted an AIFMD passport.
This recommendation follows ESMA last year issuing a ‘Call to Evidence’ for them to consider whether to extend the AIFMD passporting regime beyond EU Alternative Investment Funds (AIFs) managed by EU Alternative Investment Fund Managers (AIFMs). Separate responses were submitted to ESMA from the JFSC and local industry to this ‘Call to Evidence’ in this respect.
The JFSC is fully engaged with ESMA and has been working hard
One in four (25 per cent) senior asset management executives believe it’s “highly likely” they will face direct competition from a non-traditional new entrant such as a technology or non-financial services company within the next five years.
That’s according to a new report from State Street Corporation, which also reveals that a further 54 per cent believe this threat is “somewhat likely.”
The findings are from a global survey conducted by the FT Remark commissioned by State Street among 400 senior asset management executives for a new report entitled: “Opportunities for Optimism? A New Vision for Value in Asset
DLA Piper has advised a syndicate of mezzanine lenders made up of credit affiliates of Ardian GoldenTree Asset Management, KKR Creditor Advisors (US), Babson Capital Management, Alpinvest Partners, Idinvest Partners and Ares Management on their debt for equity restructuring, which has resulted in the group of mezzanine lenders writing off their mezzanine debt for a controlling stake in the equity of the Maxeda DIY Group.
The Maxeda DIY Group is a market leading DIY retailer that operates 376 stores across the Benelux region with nearly 7,000 employees. Prior to the debt restructuring the Group's sponsor group included KKR, Primera and
Kensington Capital Partners’ Kensington Venture Fund has increased total investor commitments to the fund to CAD237 million. The Fund's third closing includes new commitments from institutional, family office and individual investors.
"We are pleased to see the increased investor attention to the Kensington Venture Fund," says Kensington Managing Director Rick Nathan. "As our portfolio takes shape, we can see the entire Canadian venture capital sector getting a strong boost from the Venture Capital Action Plan."
Launched in November 2014 with CAD160 million in initial investor commitments, the Fund received a lead investment from the Government of Canada's Venture Capital Action
Legg Mason is to acquire a majority equity interest in RARE Infrastructure (RARE) a specialist in global listed infrastructure investing headquartered in Sydney, Australia.
The firm, with offices in Sydney, Melbourne, London and Chicago, specialises in global listed infrastructure investments, managing USD7.6 billion for institutional and retail clients. The acquisition expands Legg Mason's offerings in equity liquid alternative investments, adding an experienced manager in a high-growth asset class.
The transaction is expected to be accretive to earnings on a GAAP and adjusted net income basis in the first year after closing, which is expected in the 4th calendar quarter of
Kevin M Cronin (pictured), a law enforcement agent and former Homeland Security professional, has joined the Mackinac Partners as Managing Director in the Business Intelligence and Corporate Security Practice.
Cronin, who has considerable investigative experience working with government agencies such as the FBI and DEA on both domestic and cross border operations, has also served as a Police Sergeant, an undercover agent, President of private security consulting firm Executive Security and Protection Inc., as well as a Special Agent for the Department of Homeland Security.
Cronin brings more than 23 years of investigative, intelligence and security experience to Mackinac
NextStage AM has acquired a stake in La Compagnie du Catamaran, the controlling holding company of Fountaine Pajot, a global leader for sail and power cruising catamarans based in La Rochelle.
A pioneer in the market for sail cruising catamarans since 1983, Fountaine Pajot’s boatyard developed globally in this promising market and, as of 1998, led the way in the rapidly growing power catamaran segment thanks to its innovative profile.
For 40 years, the boatyard has designed, produced and marketed more than 2,500 catamarans and has launched more than 38 models to date. Last year (fiscal year ending August
BGF has invested GBP4.9m in PPS, a provider of returnable transit packaging solutions. BGF’s investment will help fund the acquisition of Alison Handling Services, the UK’s largest independent stockist of returnable plastic packaging.
Operating from sites in South Staffordshire and Grimsby, PPS currently moves 25 million trays and pallets a year on behalf of its customers. It offers delivery, collection, asset tracking and hygienic washing of plastic pallets and trays to customers in the fresh produce, industrial, office moves and automotive sectors.
The PPS solution provides customers with a cost effective, environmentally friendly alternative to cardboard and polystyrene single-use
Optoro, a platform for returned and excess inventory, connecting buyers and sellers worldwide, has received a USD40 million debt financing commitment from TriplePoint Venture Growth BDC Corporation, a non-bank venture debt provider, and Square 1 Bank.
This investment brings Optoro’s total amount of money raised to over USD100 million.
“We are excited to raise additional capital from two great new partners, TriplePoint Venture Growth BDC Corporation and Square 1 Bank,” says Tobin Moore, CEO and co-founder of Optoro. “This additional funding will help Optoro scale our operations and technology to support the world’s biggest retailers.”
Every year, over
Natural Gas Partners (NGP), a private equity firm in the natural resources industry, has appointed Patrick McWilliams as a Managing Director in the firm’s Houston office.
McWilliams was previously a Managing Director with JP Morgan Chase in its Houston office. He joined the firm in 2012 to launch its Middle Market Oil and Gas Finance (MMOG) platform, focused on providing debt capital and other financial services to private oil and gas companies. In his role McWilliams also covered top regional, energy-focused private equity firms.
Tony Weber, Managing Partner of NGP, says: “We are delighted to welcome Patrick to the
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