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The partners of 123Venture have launched Lendix, a crowdfunding platform dedicated to SMEs which lets institutional and private investors can lend directly to businesses at rates based on the quality of the borrower.
Lend has raised EUR7 million in a funding round led by Partech Ventures, Weber Investissements and 123Venture’s management team, including founder Olivier Goy who is chairman of this new business.
123Venture is a French private equity asset management firm dedicated to retail investors with more than 60,000 private clients and EUR1.2bn of assets under management.
“Our driver for Lendix is similar to the one we
Lending Works, the only peer-to-peer lender to have insurance protecting lenders’ money against borrower defaults and fraud, is rolling out an extended insurance to safeguard savings against a greater range of risks affecting borrowers’ ability to repay loans.
These include all the major reasons for default such as accidents, illness, death and loss of employment.
With the enhanced Lending Works Shield in place, even in the event of another major market downturn, where loan repayments may be harder to collect and arrears can rise, Lending Works’ insurance cover will safeguard savers’ funds.
In research conducted in partnership with
SS&C Technologies has made key executive promotions to further extend its focus and capabilities in both its private equity software and fund administration services businesses.
Renee Mooney, senior vice president and nine year SS&C veteran, has been named to lead SS&C GlobeOp’s private equity fund administration business supported by Christine Egbert, Aparna Parmeswaran, Phil Ratner and Chris Madpak.
Darren Berkowicz, managing director, will expand his responsibilities to include SS&C’s New York-based fund services operations reporting to Mooney, and will manage the TNR Solution software business supported by Seth Blech. Berkowicz will continue to manage SS&C’s industry leading alternative accounting
Since the Alternative Investment Fund Managers Directive (AIFMD) came into full effect, MPMF Fund Management (Ireland) Limited is continuing to gain momentum.
MPMF has on-boarded a number of well-known alternative investment funds (AIFs) and anticipates continued significant interest in the services offered.
AIFMD is the European Union (EU) directive that came into force on 22 July 2013, with a transitional compliance date of 22 July 2014. The directive regulates EU and non-EU fund managers that market AIFs to investors domiciled, or with a registered office, in the EU.
MPMF, a Central Bank of Ireland authorised alternative investment fund
The sector and credit outlooks for US business development companies (BDCs) are negative for 2015, according to Fitch Ratings' 2015 BDC Outlook report.
Competitive underwriting conditions, unsustainable asset quality metrics, and a notable shift in risk appetite, for some issuers, are among the factors that will pressure certain BDC ratings over the next year, according to Fitch.
Middle market underwriting conditions remain fiercely competitive, reflected by tighter yield spreads, higher leverage, and weaker covenant packages. These competitive dynamics make it more difficult for lenders to find attractive deals, resulting in a steady decline in portfolio yields and heightened pressure
Law firm Eversheds has appointed funds and real estate tax lawyer Cathryn Vanderspar as the head of its London tax team.
Vanderspar joins the firm from Berwin Leighton Paisner where she has been a tax partner for over 16 years.
Vanderspar’s experience covers unauthorized and authorized funds and listed vehicles (including REITs), across the various asset classes, including real estate, debt and private equity. Her real estate work includes both direct and indirect structuring across the sector, from development to joint ventures and inward investment, working for a wide variety of clients. Specific sector experience includes healthcare, residential and
The Perth Leadership Institute has laid out a new approach to hiring the right chief executives for private equity companies in its new White Paper on measuring the profitability impact of CEO behaviours.
The White Paper reveals how to use new and unique psychometric methods to predict the CEO’s impact on profitability and valuation of private equity portfolio companies.
These are based on proprietary approaches derived from behavioural economics and behavioural finance, which are utilised to produce its new and innovative Behavioural Proforma. This predicts the future income statement of a company based on behavioural data from the CEO
Advent International has received USD2.1 billion in commitments for Advent Latin American Private Equity Fund VI (LAPEF VI), reaching the fund’s hard cap after less than six months in the market.
LAPEF VI is the largest private equity fund ever raised for Latin America. Advent’s previous fund dedicated to the region, LAPEF V, closed on USD1.65 billion in 2010.
“We are pleased with the strong support we received from both existing and new investors,” says Advent managing partner Patrice Etlin. “We believe the high level of demand reflects our leadership position in Latin America based on our strong 18-year
PwC has become a sponsor of Seedcamp, the London-based investment fund that supports and accelerates start-ups from the pre-seed and seed capital stage.
PwC will also offer a new cloud-based accounting service for SMEs, My Financepartner, to this September’s Seedcamp intake.
Tony Price, PwC partner with responsibility for My Financepartner, says: “If early-stage companies are intending to grow fast, they need to get on top of issues such as cash burn rates, R&D tax credit support and statutory reporting. Later they’ll need support to secure further funding rounds and to plan for headcount growth.
“My Financepartner helps smaller
Albion Community Power (ACP) has invested GBP1.8m in partnership with Welsh developer Infinite Renewables to fund the development of a 500kW single wind turbine on a freehold site in Tredegar, in South Wales.
The site is located on the land next to Waldron Commercials, Tafarnaubach Industrial Estate. The turbine is expected to produce its first power in the summer of 2015 and is predicted to generate over 1,400MWh of electricity per year. ACP, which is the majority shareholder in the project, has forecasted an inflation linked IRR of 13% for a period of 20 years.
This is ACP’s second 500kW
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