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Regardless of whether a hedge fund manager has an AIF, a UCITS fund, or one of each, the end objective is the same: to improve their capital raising opportunities in Europe.
This is all well and good, but for non-EU managers in particular, there are significant costs and operational challenges to launching additional fund products; indeed, it is one of the key reasons why some of the large banking platforms like Deutsche Bank’s db Platinum platform and Morgan Stanley’s FundLogic Alternatives platform for alternative UCITS funds have grown so fast in the last few years. These platforms take the burden
“The issue is one of insourcing versus outsourcing,” says Alan Picone (pictured), Managing Director at Kinetic Partners (Luxembourg), when discussing which operational model to pursue under AIFMD.
Making the plunge to become an independent AIFM is a big ask for most managers, both in terms of time and capital resources. It also depends on where the manager is located and how committed they are to capital raising in Europe.
According to Picone, there are a couple of key qualitative and quantitative considerations that hedge fund managers should bear in mind. On the qualitative side, Picone notes, “By appointing an
Thames Valley accountants and business advisory firm James Cowper has advised global microinsurance specialist MicroEnsure on its fundraising.
MicroEnsure raised USD10.4m from its existing investors, as well as from Sanlam Emerging Markets and AXA, to help finance its expansion into new markets.
Following an 88 per cent increase in the number of clients served in the past five months, the UK-based company now covers more than 7.6 million people across Africa and Asia with a range of accessible insurance products including life, health, personal accident and property.
Through its partnerships with mobile network operators and microfinance banks,
Prevalent has received a USD4 million growth equity investment from Fulcrum Equity Partners, a private equity firm headquartered in Atlanta, Georgia.
The investment funds will be used to grow and expand Prevalent’s sales, marketing and technical teams, as well as advance its third-party risk and vendor threat management technologies.
Prevalent also plans to use the capital to accelerate its proprietary professional services, which are targeted at helping businesses adhere to compliance requirements and industry standards.
Under the new agreement, the company’s chief technology officer and co-founder Norman Menz and chief executive and co-founder Jonathan Dambrot will continue to
Blue Sage Capital has promoted Jonathan Pearce and Eric Weiner to vice president with responsibility for sourcing, evaluating, negotiating structuring, managing due diligence, and closing investment opportunities and subsequent portfolio company monitoring.
Pearce joined the team in May 2013 after spending four years with Avista Capital Partners, a generalist middle-market private equity firm with USD5 billion under management. While at Avista, he focused on the evaluation and execution of investments primarily in the energy sector.
Weiner joined the team in August 2013 after completing his MBA from the Stanford Graduate School of Business, where he was an Arjay Miller
Nordic Capital Fund VIII has invested in AniCura, a Nordic operator of companion animal hospitals and veterinary clinics.
With the support of Nordic Capital, AniCura will be strengthened for the next phase of its development, through continued expansion of the business.
AniCura is currently owned by a large number of staff, the Foundation Djursjukhus i Stor-Stockholm and the Swedish investment firm Fidelio Capital. All parties will remain significant co-owners together with Nordic Capital. Through Nordic Capital’s co-ownership, resources will be made available for, among other things, establishing a new veterinary specialist neurological centre at AniCura Albano Animal Hospital in
An affiliate of private equity firm HIG Capital has sold its portfolio company Vaupell Holdings to Sumitomo Bakelite for USD265 million.
Headquartered in Seattle, Vaupell develops and produces thermoplastic and composite solutions to the aerospace industry as well as niche commercial and medical applications.
“HIG has been a tremendous partner to Vaupell and has been instrumental in helping us establish and execute our growth strategy,” says Joe Jahn, chief executive officer of Vaupell.
"We are very proud of what we have accomplished together with the Vaupell management team,” says Jeff Zanarini, a managing director of HIG. “The company
Financial services private equity firm AnaCap Financial Partners has completed the buyout of AssurOne Group, a French digital insurance broker.
AssurOne specialises in the online distribution and management of personal insurance products, including motor and home policies.
Under the terms of the agreement, funds advised by AnaCap and AssurOne’s management team will acquire 100 per cent of AssurOne Group from financial investors Seventure Partners and Bpifrance, who have supported the growth of the business since 2006 and 2008 respectively.
Founded in 2004, AssurOne Group initially focused on the direct sale of insurance products as a single carrier supplier.
The Financial Conduct Authority (FCA) penalised British firms a total of GBP506.94m (USD770m) in 2013, according to research from Kinetic Partners.
The penalties handed down by FCA to individuals totalled GBP5.42m (USD8.23m) in 2013.
While the amount fined to individuals only accounted for slightly more than one per cent, the number of fines that the FCA brought against individuals (20) accounted for 44 per cent of the total number of cases during the same period.
Nick Matthews, senior member of forensic and corporate recovery practice at Kinetic Partners,
says: “Our research shows that British firms continue to be
Find out why Guernsey works as a fund domicile and service centre for US private equity managers, according to Fiona Le Poidevin of Guernsey Finance.
During the last decade Guernsey has built a strong reputation as a leading jurisdiction for domiciling and servicing investment funds, especially private equity.
Figures to the end of December 2013 show that the value of funds under management and administration in Guernsey reached nearly half a trillion US dollars, with the net asset value of private equity funds reaching more than $146 billion – a rise of 6.2% over the year.
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