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More than half (57 per cent) of institutional investors plan to narrow down the number of different alternative asset managers they work with in the next 12 to 24 months, according to a survey by UBS Fund Services and PwC.
The survey reveals that they intend to focus on fewer key relationships as they gain increasing expertise in the sector. A higher proportion of institutional money in alternative asset classes is also leading to more rigorous selection of managers.
Mark Porter, head of UBS Fund Services, says: “Institutional investors are demanding more transparency and increased liquidity from their alternative
Cabot Square Capital has agreed the sale of Equitix to a subsidiary of Tetragon Financial Group for GBP160 million.
The transaction, which represents a 12x return on invested capital for Cabot Square Capital, remains subject to regulatory approval.
Cabot Square Capital established Equitix in 2007 to benefit from the emergence of infrastructure assets as an institutional asset class. Equitix has since become a leading integrated infrastructure asset manager with over GBP1 billion funds under management across three 25-year core-infrastructure funds focused on mid-sized infrastructure projects and two energy-efficiency funds.
Earlier this month, Cabot Square Capital announced an 18x
Orangefield, a provider of corporate and fund services, has appointed Anna Coutts Donald as director at its UK office.
Coutts Donald will be responsible for growing the UK business and cultivating relationships with key UK and international clients.
The UK office – also known as Waterlow – was acquired in 2012 and since has grown steadily.
''I am very excited to be joining Orangefield as it is a true global provider of outsourcing services," says Coutts Donald. "Its client coverage and scope of services is a real strength."
Coutts Donald, a Scottish Chartered Accountant and former Council
The Australian Private Equity and Venture Capital Association (AVCAL) has welcomed Australian government plans to overhaul the Significant Investor Visa programme to encourage venture capital investment.
“Australian early-stage companies have, for many years now, been increasingly squeezed for capital owing to many traditional institutional investors decreasing their exposures to higher-risk ventures over time,” says Dr Kar Mei Tang, AVCAL’s head of policy and research. “Every year, Australian venture capital and private equity managers see a strong pipeline of startups, research-driven ventures and innovative small businesses that have the potential to be our future economic drivers.
“But many of these
This year began on a positive note for investors in US private equity and venture capital funds, with both asset classes earning positive returns for the three-month period ending 31 March 2014.
While venture capital outperformed private equity for the second quarter in a row, both asset classes easily bested the public markets, according to Cambridge Associates LLC benchmark indexes.
Q1 marked the seventh and tenth consecutive quarter of positive returns, respectively, for the private equity and venture capital benchmarks.
The Cambridge Associates LLC US Private Equity Index rose 3.1 per cent in the first quarter versus the
Prime Meridian Capital Management has launched the Prime Meridian Small Business Lending Fund, giving investors the opportunity to invest in the growing sector of P2P small business lending.
Prime Meridian’s Income Fund was one of the first P2P lending funds in the US, with over 29 consecutive months of profitable returns without a single drawdown, and has a well-established track record. Prime Meridian has expanded its offerings by moving into the small business P2P lending space.
P2P lending is the practice of lending money to unrelated individuals (i.e. peers) without going through traditional financial institutions such as banks or
Canadian private equity firm NOVACAP is partnering, through its NOVACAP Industries IV investment fund, with institutional partners to invest more than CAD165 million in KDC, a Québec manufacturer of health and beauty-care products.
The institutional partners include the Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ, Investissement-Québec, Export Development Canada (EDC) and Fondaction CSN.
KDC has its head office in Knowlton, Québec, where its main plant is also located. In addition, KDC has plants in Mississauga, Ontario, as well as in Lynchburg, Virginia, and Columbus, Ohio. Altogether, the company employs 2,200 people, including nearly 900
Preqin looks at the performance of hedge funds in Q3 2014 and in 2014 so far.
Please click here to download Preqin's Hedge Fund Performance Update: Q3 2014
Preqin provides the most up-to-date hedge fund performance benchmarks.
Click here to download Preqin's Hedge Fund Performance Benchmarks: Q3 2014
BNP Paribas Securities Services has launched an outsourcing service for AIFMD reporting, allowing asset managers to fulfil their reporting obligations without the associated administrative and financial burden.
Under the directive, alternative investment funds including hedge funds, private equity and real estate funds, and funds of funds must report certain information, including exposures and leverage, to national supervisors. The requirements are designed to help regulators monitor systemic risk in the alternative investment fund industry.
John Vaughan, head of product for fund administration, middle office outsourcing at BNP Paribas Securities Services, says: “Depending on the fund manager, the cost of setting
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