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Societe Generale Securities Services (SGSS) has appointed David Painter as head of trustee and depositary services in the UK.
Based in London, he reports to Bertrand Blanchard, SGSS’ country manager in the UK, and to Michèle Besse, global head of depositary control.
Painter will play a key role in launching and managing trustee and depositary services in the UK for a broad range of investment funds, including UCITS and alternative funds, and actively help develop a range of integrated client solutions.
SGSS’ full range of trustee and depositary services will include asset safekeeping, cash monitoring and oversight duties.
Some 62 per cent of small to medium sized UK firms have ambition to grow dramatically or moderately in the next two years, up from 59 per cent in 2013, according to a report by Albion Ventures.
Only three per cent think they will shrink or wind down.
Businesses in the North-West are most confident about the future, with 83 per cent anticipating growth over the next two years, closely followed by London with 81 per cent of businesses expecting their businesses to grow. East Anglian businesses are the least optimistic with 39 per cent anticipating growth.
On
There is a compliance shortfall among alternative investment funds (AIFs) on the eve of the deadline for Alternative Investment Fund Managers Directive (AIFMD) authorisation, according to research by BNY Mellon.
While 82 per cent of managers canvassed confirmed the required AIFM structure has been established to meet tomorrow’s July 22 deadline, 44 per cent will not have received authorisation from their local regulator by that date.
The survey highlights that a significant proportion of managers will have work left to complete in respect of key elements of the AIFMD regulations. For example, 31 per cent still need to implement
Arma Partners acted as exclusive financial advisor to Vero Software on its sale to Hexagon AB.
Founded in 1988 and with headquarters in the UK, Vero is an independent provider of computer aided manufacturing software, with a presence in over 40 countries and more than 20,000 customers on maintenance worldwide.
Backed by technology investors Battery Ventures, Vero is a high growth company which recently achieved 24th place in the UK’s Sunday Times Profit Track 100 league table.
Hexagon is a provider of integrated design, measurement and visualisation technologies worldwide. Vero will allow Hexagon to extend the reach of
Private equity firm Palamon Capital Partners has agreed the sale of Retail Decisions (ReD) to ACI Worldwide for USD205 million, subject to regulatory approvals.
The sale will result in total Sterling investment returns for Palamon of 2.5x invested capital.
ReD is a provider of payment fraud prevention technology and services to merchants, card issuers, acquirers and processors. The company’s flagship product ReD Shield, a real-time, online fraud prevention solution, is used by large e-commerce and multi-channel merchants in North America, Europe, Asia-Pacific and Latin America, to boost online revenues while reducing fraud losses.
Palamon acquired ReD in a
ACTIVE Venture Partners has appointed two team members with entrepreneurial and venture capital experience.
Sebastian Blum joins as partner coming from previous senior roles in Silicon Valley’s mobile technology and VC market, while Georg Stockinger takes up his role as venture advisor bringing large-scale digital business expertise to the firm.
Blum was VP of business development at California-based photo viewing app developer Cooliris, where he was responsible for corporate & business development and partnerships with special focus on Asia. Previously he was in senior positions at T-Venture, the VC arm of Deutsche Telekom, and most recently as the managing director of its San Francisco office where he drove investments in mobile start-ups throughout Europe and the US.
21 Concordia, a private equity fund of 21 Partners, has completed an investment in Polish debt collection company EGB Investments.
Founded in 1995, EGB Investments manages collection of consumer and corporate debt for banks, financial institutions, telecommunications, and utilities companies in Poland.
EGB generates sales in excess of EUR12 million with an Ebitda margin in excess of 15 per cent.
In addition to the core debt collection and receivables management services, the company provides liquidity enhancement solutions for small and micro enterprises through its subsidiary EGB Finanse.
21 Concordia along with the management will foster an organic
Specialist financial services private equity investor Cabot Square Capital has made a GBP25m investment in Henry Howard Finance, in order to enable it to increase its provision of finance for SMEs.
Cabot Square believes that the shortage of SME financing from banks in the wake of the credit crisis has created a significant opportunity for Henry Howard – which is already established as a leading asset finance provider – to build on its experience and expertise in providing finance both direct to SMEs and as part of manufacturers’ and equipment vendors’ sales packages.
In particular the investment will enable Henry
Nordic Capital Fund VIII has signed an agreement to acquire the majority of Lindorff, a European debt collection company headquartered in Oslo, Norway, from Investor and Altor.
Investor and Altor will retain a minority holding in Lindorff.
The total EV is EUR2.1bn plus EUR200m of a performance based vendor note.
“Nordic Capital has followed the development of Lindorff for many years and is impressed with the successful transformation and positioning of the company. In the coming years, Nordic Capital looks forward to supporting further growth and expansion of Lindorff, and to contributing through Nordic Capital’s extensive experience and
Lonsdale Capital Partners has acquired the flexible plastic packaging businesses of Suominen Corporation.
Suominen Flexibles supplies printed plastic film and certain converted products for consumer and industrial applications from three factories in Finland and Poland. It also has sales offices in Sweden and Russia.
In 2013, Suominen Flexibles had net sales of EUR60 million.
Lonsdale is acquiring the business for EUR20 million plus a small earnout. The management team and Suominen Corporation will own significant minority stakes in the business going forward. Debt facilities were provided by Nordea Bank Finland and a vendor loan by Suominen Corporation.
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