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UK-headquartered international investment bank Altium has enjoyed a bumper third quarter, with the group’s deal values for the quarter exceeding GBP1bn.
During the third quarter, Altium has completed 15 transactions worth a total of GBP1.2bn. Significant deals for the group during the period include advising on the sale of online fashion retailer mytheresa.com to one of the world’s best known luxury department stores, US based Neiman Marcus in September; advising global private equity firm KKR on its acquisition of a stake in the online classified business, Scout 24; and advising on the sale of independent luxury watchmaker Ulysse Nardin to
UK mid-market private equity house LDC is to make a minority investment in Capital Economics, an independent macro-economic research company.
Capital Economics’ output spans global, regional and country research, including coverage of 56 emerging markets, and specialised analysis of financial markets, commodities and the consumer and property sectors, delivered across 23 different subscription services. In addition, it undertakes commissioned research projects.
Capital Economics, led by Roger Bootle, was established in 1999, and is headquartered in London. It currently has almost 100 employees, of whom about a half are economists working across offices in London, Toronto and Singapore.
As
Atlantica Hotels International has been recapitalised with equity capital from Quantum Strategic Partners Ltd, a private investment fund managed by Soros Fund Management, Tao Invest, a private investment fund managed by Tao Capital Partners, and management.
Paul Sistare, founder and CEO of Atlantica, says: "This is a positive move for our clients, employees and business. We are delighted to partner with Soros and Tao, all long-term focused investors with strong track records of supporting growth companies. Our plans for growth remain in place."
As part of the recapitalisation transaction, global lodging industry veteran Doug Geoga has joined the investor group
PHD Equity Partners has launched its second private equity fund, PHD Equity Partners Fund No2 LP.
The firm is currently fundraising and expects to reach its target size of GBP25 million this year.
Fund 2 will build on the firm’s strategy of investing in smaller UK businesses, with valuations of less than GBP10 million.
PHD’s maiden fund, PHD Equity Partners Fund No.1 LP, is on target to deliver an IRR for investors (net of all fees) of 24.6 per cent.
Highlights of Fund 1 include the sale of Liberty Services to Capita plc for over nine times
Northleaf Venture Catalyst Fund (NVCF) has made a USD10 million commitment to Vancouver-based Version One Ventures II, an early-stage fund investing in high-potential internet, SaaS and mobile entrepreneurs.
“We are pleased to be an anchor institutional investor in one of Canada’s most promising venture capital funds,” says Ian Carew, director of Northleaf Capital Partners, the manager of NVCF. “The investment in Version One furthers NVCF’s strategy of investing in best-in-class Canada-based venture capital and growth equity funds. Version One’s founder Boris Wertz is one of the most well-respected early-stage technology investors in North America and has served as a local
Quadriga Worldwide, a provider of guest technology managed services for the hospitality industry, is merging with the SmarTV Company, a developer of interactive entertainment solutions for commercial and consumer markets.
The merged company’s mission is to maximise guest engagement and satisfaction, enhance the HSIA and entertainment experience, and strengthen on-property value through increased revenue and operational efficiencies for hotels.
Operating under the Quadriga Worldwide brand name, the company will focus initially on North America, Europe, the Middle East and Africa where the group has existing sales and operational resources. SmarTV, which will rebrand as Quadriga Technology, will continue to
PwC Luxembourg is the leading professional services firm in the country with around 2,400 people. Similarly, its Real Estate and Infrastructure team is the largest multidisciplinary team of specialists in the Grand Duchy with more than 250 experts supporting global real estate managers; these range from tax advisers and engineers to auditors and fund accountants.
“We service a large segment of the Luxembourg and international real estate market and this allows our team to deliver tailor-made specialised services to our clients,” explains Amaury Evrard, Partner and Real Estate Leader at PwC Luxembourg. “We can make the most of our global
By Kavitha Ramachandran, Maitland – As the alternative investment market matures, investors are increasingly demanding far more information and transparency from fund managers in return for their capital. Transparency is the new name of the game. In this regard, the Alternative Investment Fund Managers Directive (AIFMD) may be viewed as a single piece of regulation, but its ultimate aims are more or less in line with other regulatory changes such as MiFID II/MiFIR and PRIPS. There will come a point where the reporting and transparency requirements demanded under the AIFMD will become the minimum accepted standard needed to attract investors.
It
A true sign of how well a fund jurisdiction is doing is the level of growth, not just in new fund formations, but asset growth within administration firms. The onset of the AIFMD has opened up a new range of services for administrators, in particular by providing a Depo Lite solution to managers running non-EU funds.
Ipes is one of the world’s leading private equity fund administrators. According to Justin Partington (pictured), Commercial Director at Ipes, “clients are continually asking us about Management Company solutions and providing substance in Luxembourg. There are significant hurdles to set up a ManCo because we
There is no experience as the one gained in the front lines. The fund industry struggles with changing regulation, and those companies whose business model is based on providing reporting services know best that the devil lies in the detail. The following are a number of observations after 12 months of report production and filing of the Annex IV Transparency Reports of AIFMD.
During the preparation phase, KNEIP, one of the industry’s long-standing legal and regulatory report providers, has learned a number of lessons that it is applying to ensure that the filing process becomes as hassle-free for managers as
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