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Kirill Dmitriev, chief executive of the Russian Direct Investment Fund (RDIF), is launching an initiative to form a joint fund to invest in the equity capital of BRICS infrastructure projects.
Dimitrev made the announcement at the BRICS summit in Fortaleza. Representatives of leading financial institutions, BRICS sovereign wealth funds and RDIF’s international partners have given their support to the initiative.
Should the negotiations be successful, the joint fund will become operational by the next BRICS summit which is scheduled to take place in Ufa (Russia) in 2015.
Since its inception in 2011, the RDIF has raised in excess
Law firm Schulte Roth & Zabel (SRZ) has appointed Jeremy R Saks as special counsel in the firm’s New York office.
He will focus his practice on mergers and acquisitions, private equity investments and corporate governance.
Saks, who joins the firm from Simpson Thacher & Bartlett, has experience representing clients in connection with a variety of transactions, including leveraged buyouts, tender offers, spin-offs, carve-outs, PIPEs, preferred stock and warrant offerings, dividends and dividend recaps. He has also advised private equity clients in their ongoing relationships with portfolio companies from acquisition through exit, and he has counselled both public and
Equistone Partners Europe has exited PD&MS Energy, a provider of engineering, procurement and construction (EPC) services for the global oil and gas industry, in a secondary buyout to Inflexion.
The mid-market private equity firm has achieved a 2.9x return on total investment after it backed the management buyout in 2010.
Founded in 2002 by its current management team, PD&MS Energy serves the drilling, production and marine sectors. Its core capability is ‘brownfield’ design engineering services, using project planning and design software tools to service drilling and production operators throughout the oil and gas market.
PD&MS Energy employs more
NorthEdge Capital, the private equity firm focused on investing in businesses based in the North of England, has backed Blackburn-based tissue converter Accrol Papers in a GBP66million deal.
Accrol, established in 1993, employs 300 staff with a current turnover exceeding GBP100million. One of Europe’s largest independent converter of soft tissue products, the business has a manufacturing capacity in excess of 80,000 tonnes per annum.
The business, founded by the Hussain family, has grown significantly in the last five years. The investment by NorthEdge will facilitate the acceleration of the company’s expansion programme to increase capacity and support further growth,
Edison Ventures has changed its name to Edison Partners in a move that it says unifies its investment strategy with the people and partnership approach behind it.
The change is effective immediately.
“This is an exciting time for our firm and we believe the name, Edison Partners, not only is representative of our evolution in recent years, but also better describes our strategy in terms of our approach with entrepreneurs and stage of company in which we invest,” says Chris Sugden, managing partner.
The firm says its new name reflects its commitment to:
1. An investment strategy focused
Private equity fund Change Capital Partners has acquired a majority stake in Frette, an Italian luxury linen and home furnishings business.
Change Capital Partners will make a significant investment into the company.
Frette’s existing owner, JH Partners, a San Francisco-based consumer focused private equity firm, will retain a minority stake in the business.
Founded in 1860, the company has supplied high quality linens to aristocratic families throughout Europe as well as the Vatican. Frette has 15 directly owned boutiques around the world.
Frette had consolidated sales of circa EUR90m in 2013 and it sells through a combination
Advisory and restructuring solutions provider Zolfo Cooper has opened an office in Hong Kong.
Led by Bruno Arboit, the office will provide a full range of restructuring, insolvency, forensic accounting and litigation support services to clients with interests in Hong Kong and mainland China.
The new office will be the first Zolfo Cooper branded operation in Asia-Pacific and complements a long standing affiliation with Ferrier Hodgson across the region.
Arboit joins Zolfo Cooper Hong Kong with over 16 years’ experience in the local market, most recently running his own advisory and restructuring practice. To support the launch of
Madrona Venture Group, an early-stage venture capital firm based in Seattle, has hired David Rosenthal as principal and Todd Davis as senior talent professional.
Rosenthal returns to Madrona after completing his MBA at the Stanford Graduate School of Business. As a principal, Rosenthal will be primarily responsible for sourcing and evaluating new investments and will work closely with Madrona's managing directors to help accelerate the growth of existing portfolio companies.
Rosenthal first joined Madrona in 2010 as an associate. He led the diligence process on several investments and participated as a board observer for several portfolio companies. While at
The Intralinks Deal Flow Indicator (DFI) for the quarter ended 30 June shows 16 per cent quarter-on-quarter (QoQ) and 12 per cent year-on-year (YoY) increases in early-stage global M&A activity.
The latest data reveals particularly strong performances in Europe, Middle East and Africa (EMEA) and North America. Overall, this quarter’s results point to sustained momentum in M&A activity to the end of 2014, building on the strong levels of M&A activity seen in the last year.
Based on the results of the Intralinks DFI so far this year and its strong correlation to the volume of future announced deals,
Ipes Guernsey has been regulated by the Guernsey Financial Services Commission (GFSC) as one of the first operators of a Guernsey Alternative Investment Fund (AIF) depositary.
The new depositary in Guernsey will enable funds domiciled in the island to market their funds in Europe under the Alternative Investment Fund Managers Directive (AIFMD) regulations.
In 2013 Ipes launched its depositary service from London to support clients and fund managers in meeting the new AIFMD requirements.
In the last 18 months Ipes has doubled the size of its London team through the expansion of its depositary service. It now acts
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