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Advent Capital Management has appointed Matthew Dundon, Managing Director and Portfolio Manager to its alternative investment strategies team.
Dundon will support and collaborate with Advent’s current portfolio managers to identify unique investment ideas across corporate capital structures globally.
“We’re excited to welcome Matthew to Advent and look forward to the complementary skills he’ll bring as we continue to grow, diversify and opportunistically enhance our investment teams,” says Tracy Maitland, President and Chief Investment Officer of Advent. “The volatility in global markets is creating increased investment opportunities and we are adding investment talent to be able to vet more investment ideas
CMS Bureau Francis Lefebvre has appointed four new partners – Alexandre Delhaye, Caroline Froger-Michon, Frédéric Gerner and Claire Vannini.
The firm now has 103 partners out of a total of 380 lawyers.
Alexandre Delhaye, 40, joined CMS Bureau Francis Lefebvre’s Corporate/M&A department in 2001 after working in the M&A department at Gide Loyrette Nouel. Specialising in corporate law and Corporate/M&A, he handles all matters relating to national and transnational transactional operations (M&A, joint ventures, private equity, management packages), complex group restructuring and reorganisation projects, governance, management personnel and shareholder relations. He is a graduate of ESCEM (1995)
Despite optimism about the US economy, endowments and foundations are planning to decrease their allocations to US equities this year in favour of alternatives such as hedge and private equity funds.
That’s according to the Q4 2014 NEPC Endowment and Foundation Poll, a measure of endowment and foundation confidence and sentiment related to the economy, investing and market performance.
“Overall, endowments and foundations feel very confident about the US economy and have a favorable outlook for domestic equity markets this year,” says Cathy Konicki, Partner and head of NEPC’s Endowment and Foundation Practice. “More than three-quarters of respondents feel the
Private equity firm Crestview Partners has closed its latest fund, Crestview Partners III, surpassing its USD3 billion target.
The new fund includes over USD3 billion of third-party limited partner capital commitments and USD250 million in general partner participation, including affiliates. Fund III is Crestview's largest fund raised to date.
Fund III will pursue the same investment strategy on which Crestview was founded in 2004 and has closely followed ever since—namely identifying and investing in companies with a contrarian, value orientation. Crestview's investment strategy focuses on opportunities that arise from market dislocations or through proprietary relationships. The firm typically targets USD100–400
British Business Bank Investments Limited, the commercial arm of the British Business Bank, is investing GBP5 million in Kingsway, a Cheshire-based asset finance specialist.
The investment is expected to increase Kingsway’s leasing capacity by up to GBP10 million.
This investment is the latest in a series of commitments from British Business Bank Investments Limited in the leasing and asset finance space. In October, British Business Bank Investments provided a GBP40 million boost to Staffordshire-based Shire Leasing, which was matched by private sector investment. British Business Bank Investments Limited’s parent company, British Business Bank plc, recently launched its ENABLE programme to
Evercore and Luminis Partners have formed a strategic alliance to provide cross-border M&A advisory services.
The two firms will leverage their combined expertise and broad network of corporate relationships to provide independent, objective advice to their clients.
Luminis Partners recently has been formed by Ron Malek, Simon Mordant and Jamie Garis to provide conflict-free advice to major corporations, private equity firms, institutions, and government bodies on strategy, mergers, acquisitions and divestitures, restructurings and capital markets activities. This strategic alliance will also include an investment by Evercore in Luminis Partners. The three founding partners of Luminis have worked together for 15
Law firm Cleary Gottlieb Steen & Hamilton announced has appointed Peter Olds, former legal director at Actis, as counsel in the firms’ London office.
Olds joined Actis, a private equity firm investing exclusively in Africa, Asia and Latin America, in 2009. Peter was previously a senior associate in Clifford Chance’s Private Funds Group, where he specialised in private equity, real estate and infrastructure fundraising. Prior to that, he was a senior associate at Freehills in Sydney. Peter has a Bachelor of Law with first class honours and a Bachelor of Arts with distinction from the University of Technology, Sydney.
“We
MidCap FinCo and Apollo Capital Management have launched a direct origination platform for MidCap Financial focused on direct lending opportunities in the senior secured credit market.
MidCap Financial includes the existing operations and assets of MidCap Financial LLC (MidCap), a specialty finance firm focused on senior secured direct origination in the healthcare sector with more than USD2 billion of assets and a seasoned team of more than 75 employees headquartered in Bethesda, MD, complete with fully scalable asset management and back office infrastructure, systems and processes capable of full lender services.
Through an investment management agreement between Apollo and MidCap
OrbiMed has held the closing of its second healthcare royalty and credit opportunities Fund, OrbiMed Royalty Opportunities II, with USD924 million in commitments, including USD24 million from the General Partner.
Investors in the fund include a broad range of premier endowment, foundation, pension and other institutional investors.
Consistent with its predecessor, the new fund will acquire healthcare royalty streams and provide tailored debt capital solutions to healthcare companies and institutions worldwide. The Fund expects to commit between USD20 million to USD150 million per investment, with the ability to commit larger amounts in collaboration with other OrbiMed funds.
“OrbiMed is active
Spencer Capital Holdings is to acquire USA Risk Group an independent captive insurance manager. The transaction is subject to customary closing requirements and regulatory approval, and is expected to close during the first quarter of 2015.
USA Risk currently serves over 300 clients, holding $9 billion assets under management. Financial terms of the transaction were not disclosed.
USA Risk is an independent captive insurance manager founded in 1981 by H Lincoln Miller, Jr, a leader in helping to enact legislation enabling Vermont to become the pre-eminent captive domicile within the United States. USA Risk has since established member companies in
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