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The BVI has seen some good traction in the Approved Manager regime since it was introduced at the end of 2012. Whilst this has proved popular with start-up and small- to mid-sized managers looking for a lighter touch regulatory oversight from the local regulator, the feeling amongst the islands’ leading law firms was that a new fund product was needed to cater more specifically to this market sector.
To address this issue, Simon Schilder (pictured), Partner at Ogier and Chairman of the Securities, Investment Business and Mutual Funds Advisory Committee (SIBAC), has written a white paper currently being considered by
By James Williams (pictured) – It seems the decision by the BVI’s financial regulator, the Financial Services Commission (FSC), last year to extend the Approved Manager regime to managers running non-BVI funds, as well as those running managed accounts, was prudent. During the course of 2014, several of the islands’ leading law firms saw increased activity in managers applying for Approved Manager status.
“Over the last 12 months we’ve seen a number of clients looking to provide investment management services to managed accounts applying for Approved Manager status, as opposed to a Category 3E investment business license. The net effect
Mid-stage private equity firm enVision Capital has acquired a stake in Laramie, Wyoming-based technology firm, KB Enterprises, LLC.
KB Enterprises is an innovative driven company that is working on numerous breakthrough technologies, including a new method for grain fumigation to replace the use of highly toxic methyl bromide, which is currently used in today's fumigation processes.
KB Enterprises board member, Charles Pelkey, says: "With the backing and support from enVision Capital, I feel confident that our work will continue to ensure that new green technology will one day serve to replace the dangerous chemicals used today in the fumigation
Jeff Sica, founder and Chief Investment Officer (CIO) of Circle Squared Alternative Investments (CSQ), has been appointed as a special advisor to the board of venture capital firm AITV.
Sica will now be part of a roster of what we believe to be are world-class subject matter specialists that AITV has assembled. In this capacity, he’ll provide the AITV investment team and, in some cases, the underlying portfolio companies, with strategic, financial, technological and commercial advice in an effort to help optimise returns for their investors. AITV developed this highly profiled and actively engaged network of collaborators ranging from fund
55% of private equity firms surveyed by Preqin at the end of 2014 stated they would deploy greater levels of capital in 2015, although 39% suggested it is more difficult to find attractive investments. Preqin’s Christopher Elvin comments:
2014 was the strongest year of private equity investments since the global financial crisis, yet the majority of private equity fund managers are looking to invest more this year. Preqin spoke to 260 firms* worldwide in November last year, and 55% claimed they would be investing a higher amount of capital in 2015 compared to last year. A further 35% of managers
Canada Pension Plan Investment Board (CPPIB) has committed an additional CAD330 million to the Canadian private equity market.
The funds will be committed to a Canadian fund-of-funds program that will be managed by CPPIB's longstanding investment partner, Northleaf. This investment is in addition to CPPIB's CAD70 million commitment in 2014 to the Northleaf Venture Catalyst Fund. Since 2005, CPPIB has committed CAD1.2 billion to Canadian private equity investments through its partnership with Northleaf.
The investment objective of this additional mandate is to focus on Canadian small and mid-market buyout and growth equity funds that are seeking to raise CAD1 billion
Private equity firm ACE & Company has sold its stake in Moulin d’Or, a Tunisian baked goods manufacturer, to strategic investor Supreme Group.
The firm invested alongside the Abraaj Group, a leading private equity investor, in Moulin d’Or in late 2012.
Moulin d’Or sold more than 200 million cakes in 2014. The company has over 50% market share of Tunisia’s baked goods sector and has also become a leading muffin producer, dominating the country’s fastest growing industry segment.
ACE & Company and Abraaj initially invested in Moulin d’Or in 2012. During the holding period, Moulin d’Or expanded its product offering,
Investec Specialist Bank (Investec) has expanded its Growth & Acquisition Finance team with the appointment of Robin Aldridge.
Joining from RBS Invoice Finance, where he was a relationship manager in the corporate bank, Aldridge will focus on portfolio management and report into Gary Edwards. Aldridge will be working directly with mid-market businesses to help support their growth through innovative and flexible integrated debt / asset-based lending financing structures. Prior to his time at RBS, Robin was with Burdale Financial for seven years working within portfolio management.
Launched in 2006, Investec’s integrated debt offering has become increasingly attractive to mid-market
Alternative investment specialist Investcorp is to acquire Fritta, a specialist producer of intermediates for the ceramic industry, from financial investor Nazca Private Equity.
The acquisition is subject to Spanish competition authorities clearance.
Established in 1973 in Onda, Spain, Fritta produces ceramic frits and glazes as well as ceramic colours and inkjet inks, all critical intermediate products in the manufacturing of ceramic tiles. The Company’s global activities are supported by two frits manufacturing plants in Spain and Vietnam and two glaze mixing units in Italy and Mexico. Fritta employs around 300 people and its products are sold to approximately 200
SMEs turned increasingly to financial markets in 2014, with companies backed by Euronext subsidiary EnterNext raising a total of EUR9 billion on Euronext’s pan-European markets.
This included shares and bonds in both primary and second trading, and is the highest figure raised in several years. A resurgence in IPOs, combined with hard work by EnterNext teams, resulted in 31 SME listings that raised EUR740 million. Investors were enthusiastic, with issues oversubscribed 2.6 times on average. Secondary capital raising through equities and bonds was also lively, rising from EUR5.7 billion in 2013 to EUR8.2 billion in 2014.
In all, over
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