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Ogier has advised on the establishment of Sequoia Economic Infrastructure Income Fund Limited, a newly formed Guernsey fund focused on the economic infrastructure sector.
The fund expects to target investments in operational projects in the transport, transportation equipment, utilities, power, renewable energy, telecommunications infrastructure and infrastructure accommodation sectors. Guernsey firms advising were Ogier who undertook the legal work, KPMG Channel Islands Limited, who acted as reporting accountants and as independent auditors, and Praxis Fund Services as administrator and International Fund Management Limited, which forms part of The Praxis Group, as the investment manager.
The fund is listed on the Main
Victory Park Capital (VPC is to increase its investment in Upstart loans from USD100 million to USD500 million.
Based in Palo Alto, Califorinia, Upstart is a lending platform that goes beyond the FICO score to finance people based on signals of their potential, including employment history and academic performance.
“We were impressed with the Upstart team’s execution in 2014, and their results give us confidence that this emerging platform is serving a critical market need,” says Tom Welch, principal at VPC. “Upstart’s ability to identify prime borrowers years before other lenders is fundamentally disruptive, and the team has shown
Nabriva Therapeutics has completed a USD120 million Series B financing led by new US based investors Vivo Capital and OrbiMed, and including participation from EcoR1 Capital, Boxer Capital of Tavistock Life Sciences and new investment from existing investor HBM.
Existing investors Phase4 Partners, Wellcome Trust, GLSV and Novartis Venture Fund also participated in the round. Representatives of Vivo Capital and OrbiMed will be joining the Nabriva Supervisory Board.
The initial tranche of USD50 million will enable Nabriva to progress its lead product, lefamulin, into clinical phase three studies in community-acquired bacterial pneumonia (CABP) and to continue the development of
European growth private equity investor Keensight Capital has completed the full sale of its stake in LDR, world market leader in next generation spinal implant devices.
Keensight Capital has supported LDR’s strong growth alongside its managers by helping the company both establish itself in the United Sates and bringing about the best possible conditions for marketing its innovative spinal implants, leading up to its successful IPO on the Nasdaq in October 2013. Over the past 3 years, the company’s turnover has increased from 91 million dollars in 2012 to 141 million in 2014. Beginning its flotation with a valuation of
Edmond de Rothschild Investment Partners has teamed up with ACE Group the third-largest mortgage broker in France. The Small Caps fund managed by Edmond de Rothschild Investment Partners is investing in ACE alongside the founder/CEO and his senior executives.
Founded in 1995 by Joel Boumendil in Levallois-Perret, ACE is a major player in the mortgage brokerage arena in France. ACE finds and negotiates the most suitable mortgage terms for property buyers: interest rates, insurance, warranties, terms for early repayment and more. With nearly 10,000 loans brokered annually, ACE represents more than 5% of the French mortgage market, with a volume
Despite their continued uncertainty over the outlook for global economic improvement in 2015, fund managers remain optimistic about investments in equities and alternative assets over the long term.
However, managers continue to express concern over returns from government bonds, according to the Global Survey of Investment and Economic Expectations conducted by Towers Watson. The survey also found that respondents expect currencies to become a more important factor in returns and inflation to rise over the long term.
The survey showed that managers’ ongoing uncertainty over the world economy is having an effect on how they view portfolio positioning over the
Summit Partners today announced that it has acquired a majority stake in DentalPro, a network of dental clinics in Italy. Existing DentalPro shareholder, VAM Investments reinvested in the transaction, as did CEO and Founder Michel Cohen.
Founded in 2010, DentalPro owns and operates 30 full-service clinics across Italy, most of which are positioned in shopping malls. Each conveniently located clinic provides a full range of high-quality dental services, from general dentistry to more sophisticated implants, prosthesis and orthodontics. DentalPro partners with local dentists and provides them with comprehensive practice management support as well as training, which allows the practitioners to
Private equity investor Actis, has partially exited from its investment in Edita Food Industries (Edita), an independent snack food business in North Africa.
Subject to final completion, Actis has sold a 15 per cent stake as part of a heavily oversubscribed offer through the Egyptian (EGX) and London stock (LSE) exchanges, representing half of its total stake.
The institutional offering was 13.4x oversubscribed and the retail offering was 4.4x oversubscribed. Investors included a wide range of blue-chip institutional investors. The IPO price of EGP 18.5/share reflects a market capitalisation of EGP 6.7 billion (circa USD890 million) for the Company,
Law firm Duane Morris has named Brian P Kerwin (pictured) as Chair of the firm’s Corporate Practice Group. Kerwin was among the founders of the Duane Morris Chicago office in 1999.
“Brian is already a known leader in the firm, having served as vice-chair of our Corporate Practice Group,” says John J Soroko, Chairman and CEO of Duane Morris. “He is viewed by his partners as an extraordinarily gifted lawyer and leader and will utilise his vision, skills, personality and energy to guide our active and broad-based Corporate Practice Group as its chair.”
Kerwin has served as a partner
Private equity investment firm Pamplona Capital Management is to acquire European pet food producer Partner in Pet Food (PPF) for EUR315 million.
PPF is one of Europe’s largest producers of private label wet and dry pet food, supplying the continent’s top retailers across 37 countries.
Since Advent acquired the business in 2011, PPF has dynamically grown sales, predominantly through new products and innovation. The company has made significant investments in its industry-leading R&D and production capabilities in recent years, along with strategic acquisitions. This investment has enabled PPF to drive significant increases in sales, particularly through the launch of premium
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