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Saurabh Bhat has joined Venus India Asset-Finance Private Limited as its CEO and a member of the board of directors.
Prior to joining Venus, Bhat was the CEO and Director at Ambit Finvest Limited, an NBFC which was part of the Ambit Group and which focused on structured lending in mid-market and SME space. At Ambit, Saur Bhat abh was instrumental in growing the asset book through several structured transactions, launching the debt syndication business for Ambit as well widening the liability profile for the NBFC through banking and other capital market limits.
Prior to joining Ambit, Bhat
The Organisation for Economic Cooperation and Development (OECD) – the international standards-setter for tax transparency and cooperation – has underlined Guernsey’s reputation as a cooperative jurisdiction.
Monica Bhatia, Head of the Secretariat of the OECD Global Forum on Transparency and Exchange of Information for Tax Purposes, says: "I am very surprised that Guernsey has been included in a list of non-cooperative jurisdictions. We are very pleased with the cooperation Guernsey has shown as a very active member of the Global Forum.
“It has demonstrated its commitment to upholding the highest standards of transparency and exchange of information. This is evident
LSQ Funding Group has received USD40 million of capital from Ares Capital Corporation (NASDAQ: ARCC), the largest business development company in the United States.
This USD40 million financing is in addition to the more than USD100 million investment in April led by Lovell Minnick Partners LLC, a private equity firm that specialises in the global financial services industry.
“I’m thrilled that another high-quality institutional investor is supporting our mission to simplify and streamline access to invoice financing for businesses of all sizes,” says LSQ Funding’s CEO and founder Max Eliscu. “We will use this capital to accelerate our plans, reinventing
Worldwide Facilities has secures a significant investment from Lovell Minnick Partners, a private equity firm specialising in financial and related business services companies.
Following the transaction, Worldwide Facilities will continue to be majority-owned by its employees. Terms of the transaction have not been disclosed.
Founded in 1970 and based in Los Angeles, Worldwide Facilities is one of the largest wholesale insurance brokerage companies in the U.S. As a national wholesale broker, Worldwide Facilities places excess and surplus lines insurance on behalf of retail agents and brokers, and their insureds. The company also has been successful in growing its proprietary program
Great American Capital Partners has led a USD25 million senior secured first-in last-out (FILO) term loan to General Wireless Operations, Inc., doing business as RadioShack.
The term loan is part of a USD75 million financing package that includes a USD50 million asset-based revolving credit facility led by RBC Capital Markets.
Earlier this year, General Wireless, an affiliate of the New York-based investment firm, Standard General LP, acquired certain assets of RadioShack, including more than 1,700 store leases, the RadioShack trademark and other intellectual property. General Wireless intends to rebuild the RadioShack brand around a core product base to be sold
Hedge funds suffered a blow in June, with the Lyxor Hedge Fund Index down 2 per cent. The industry is nonetheless outperforming traditional asset classes in a context in which the correlation between equities and bonds is positive. In June, the MSCI World was down 2.6 per cent and sovereign benchmarks were down on both sides of the Atlantic (the 10-year Bund price is down 2 per cent; 10-year Treasury price down 1.7 per cent).
Hawksford has appointed Moira Ashby as an associate director. Ashby (pictured) will be part of the team responsible for defining, building and growing Hawksford’s corporate business.
A tax specialist, she has had extensive exposure to a large variety of corporate clients including trading businesses, banks and life assurers. Over the past nine years she has been involved with complex engagements ranging from UK and Jersey tax compliance through to structuring advice, transactions, due diligence and FATCA/CRS advisory.
Ashby joins Hawksford from Ernst & Young in Jersey where she worked for four years in the financial services tax team. Prior
Fried, Frank, Harris, Shriver & Jacobson has appointed Gregg Beechey (pictured) as a partner in the firm’s Asset Management Practice in London.
Beechey is a regulatory attorney who focuses on alternative investment funds and the EU Alternative Investment Fund Managers Directive (AIFMD). He counsels a range of financial sector clients in connection with issues related to financial promotion, authorisation and ongoing compliance, structuring and marketing, regulatory capital, agreements with customers and service providers, anti-money laundering and Financial Conduct Authority regulation generally.
This development follows Fried Frank's announcement in May about the expansion of its Asset Management Practice to Europe
LIFE, the global diaspora organisation of Lebanese finance executives, has appointed Wissam Kairouz as the new chairman of its New York Committee.
Kairouz (pictured) is a managing director at Morgan Stanley's Leveraged & Acquisition Finance Group in New York, where he oversees the group's industry practices in Healthcare, Media and Financial Services. Before joining Morgan Stanley in 2009, Wissam was a managing director in the Global Leveraged Finance group at Merrill Lynch; before that he worked in fixed income investment management with BlackRock.
"I look forward to Wissam growing our thriving New York chapter both in size and in breadth
KKR has appointed Dominique Lafont (pictured), former President and Chief Executive Officer of Bolloré Africa Logistics, as a Senior Advisor to the firm, effective immediately.
Johannes Huth, Head of KKR Europe, Middle East and Africa, says: “Over the last few years, we have been building our Africa team which is led by Kayode Akinola. The appointment of Dominique Lafont as senior advisor to the firm is a perfect addition as we look forward to making further investments across the continent through our private equity, infrastructure and energy investment platforms.”
Kayode Akinola, Director of KKR and head of KKR’s efforts
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