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Over three-fifths of institutional investors have chosen not to invest in a private equity fund as a direct result of unfavourable fund terms, according to a Preqin study.
Data from Preqin’s forthcoming 2014 Private Equity Fund Terms Advisor suggests that private equity fund managers are not doing enough to appease their institutional backers with regards to the fees they charge.
Management fees, traditionally charged at two per cent of capital committed to a fund each year, are mostly used to cover the operating costs of a fund manager. Investors, however, have been calling for these fees to be reduced,
Yukon Partners has appointed Robert (Bill) W Van Sant and Dr Brent Bauer as special advisors.
Van Sant will assist with investments primarily in the manufacturing, business services, and industrial sectors.
He is a seasoned operating veteran with over 40 years of senior leadership in both public and privately held companies. He is the former operating partner of Stone Arch Capital and Norwest Equity Partners.
“Bill Van Sant brings with him a wealth of industry knowledge and unmatched investment stewardship that will further bolster the Yukon investment platform. Bill's unique leadership style will enhance our strategic vision, and
GSV Asset Management and Gentry Financial Group have launched GSV Financial Group, which will operate four principal businesses previously managed under the Gentry brand.
The four brands are:
• GSV Ventures (formerly Gentry Venture Partners LLC)
• GSV Securities (formerly Gentry Capital Advisors LLC)
• GSV Equity (formerly Gentry Venture Management LLC)
• GSV Investment Advisors (formerly Gentry Private Wealth Management LLC)
As part of the transition, Gentry Financial Group, the parent company for these businesses, will re-brand as GSV Financial Group.
According to Larry Aschebrook, Gentry’s founder and CEO of GSV Financial Group, the alignment with GSV
The Ariadne Capital Entrepreneurs Fund has made an additional four investments into digital technology firms, bringing the fund’s portfolio to seven with six more investments planned for 2014.
The fund participated in the recent funding rounds of Taggstar, MoneyDashboard, MADE TV and SoundOut.
In addition, it has invested alongside Barry Silbert, founder of Second Market, in Bitx, the emerging market bitcoin exchange led by Marcus Swanepoel. Ariadne believes that the banks will back digital currencies and that Swanepoel and Bitx will lead this market.
The Ariadne Capital Entrepreneurs Fund backs ‘Digital Enablers’ with GBP250,000 to GBP500,000 of capital
MEASAT International (South Asia) has reached financial close on a USD225 million project financing, to fund the project costs related to the construction and launch of its satellite, MEASAT-3b (M3b).
Natixis and Sumitomo Mitsui Banking Corporation (SMBC) acted as joint financial advisers, with Natixis also acting as the Coface agent in the first ever satellite project financing with Coface export credit insurance for an Asian satellite operator.
Coface is reinsured by UK EF for the portion of the satellite components manufactured in UK.
Natixis and SMBC also acted as mandated lead arrangers, alongside other leading international and local
Apex Fund Services has named Bill Salus as chief executive officer with immediate effect.
Salus will take over day-to-day running of Apex from current CEO Peter Hughes, who becomes chairman.
Hughes founded Apex 10 years ago.
Salus, based in the Apex New York office, will have a particular focus on the US market.
As chairman, Hughes will focus on building Apex’s Capital Introductory Service, which helps Apex clients access investor capital. Hughes will also manage Apex’s largest clients as well as concentrate on the company’s growth strategy including acquisitions and targeting large institutional funds.
Salus, who
Syntaxis Capital has completed its investment in Glass-Team, a manufacturer of fire-resistant glass used in commercial building facades, exterior and interior walls, windows and doors.
Originally founded in Poland in 1992, the company has since 2009 focused exclusively on the development and production of a range of fire-resistant glazing products, marketed under the “Polflam” brand.
Management plans to further extend Glass-Team’s market leadership in Poland, and expand into Western European markets.
Syntaxis invested EUR15 million in the company in debt and equity to support Glass-Team’s European expansion and to allow the company to selectively pursue add-on acquisitions. The
2013 saw the highest level of annual distributions from private equity investments on record. Preqin explores the reasons for this significant increase in the amount of capital returned to investors and considers the impact this will have on the industry in the year ahead.
Record Levels
The latest data from Preqin’s Performance Analyst product shows that annual private equity distributions reached record levels in 2013; in 2013, a total of $388bn was called and $568bn distributed, compared to $492bn and $381bn in 2012 respectively. Although this is not the first time that distributions have increased significantly year on year or
The combined value of offshore deals in the second quarter of 2014 jumped 23 per cent over the previous one, making it one of the highest value quarters of the past decade, according to a report by Appleby.
Given that the first half of the year is frequently quieter than the second half, this is encouraging news for the remainder of 2014, says Appleby.
The latest edition of Offshore-i, an Appleby report that provides data and insight on merger and acquisition activity in the major offshore financial centres, focuses on transactions announced during the second quarter of 2014, a period
PE International, a sustainability software and consulting company, has received a EUR10 million growth investment from the venture capital unit of Siemens and Gimv, a publicly traded private equity firm.
The financing will support the company’s further expansion along with increased product research and development.
The company has appointed Friedrich Fröschl to its board of directors. Fröschl, a former member of the executive board of Siemens AG, is general partner and president of HiTech Invest Munich/New York, an advisory for private equity companies and corporations in the technology sector.
“We welcome Dr. Fröschl to our board of directors
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