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Societe Generale Securities Services (SGSS) Ireland has launched a “Depositary Lite” service offering to support European and non-European asset managers in meeting the requirements of the AIFMD.
The AIFMD sets out a number of regulatory requirements which need to be met by alternative investment funds marketed in the European Economic Area (EEA).
All EEA alternative investment fund managers that market non-EEA alternative investment funds to professional investors in EEA countries using national private placement regimes, must comply with “Depositary Lite”, which requires that one or more external entities are appointed to carry out cash flow monitoring, safekeeping of assets
Darryl Eales is to step down from his role as chief executive officer of private equity investor LDC on 1 May after 11 years in the position.
Chris Hurley, deputy CEO, and Martin Draper, chief investment officer, will lead the business as co-heads and chief executives of LDC.
As part of an existing succession plan, Eales (pictured) will step down from the LDC board but will continue his involvement with the business in a part-time advisory chairman role and support the final phase of the transition plan to new leadership. He will also retain a number of board roles
Laser radar remote sensors (LIDAR) specialist Leosphere has finalised the second tranche of a EUR20 million equity transaction.
The second tranche was closed with Electranova Capital, the venture capital fund managed by Idinvest Partners and sponsored by EDF, the world’s second largest utility company.
The first tranche of EUR10.5 million had been concluded in December 2012 with Oraxys.
Philippe Schmitt, co-founder of Natureo Finance, Leosphere’s sole financial advisor, says: “We are extremely pleased to have supported Leosphere, one of the leading cleantech companies in France over the last three years. Since inception in 2004, Leosphere has transformed the
Venture capital investor Albion Ventures has assisted Mi-Pay, the outsourced payment services provider for global mobile operators, to join the Alternative Investment Market of the London Stock Exchange.
It follows completion of its reverse takeover of Aimshell Acquisitions plc (now called Mi-Pay plc).
Together with an investment round led by the Mi-Pay management team, the business will gain GBP4.4m of investment.
As part of the deal, Seamus Keating has been appointed chairman of Mi-Pay. Keating was previously chief financial officer of Logica and is currently chairman of First Derivatives amongst other roles.
Albion Ventures will continue to
Force Over Mass Capital (FOMCAP) has launched an SEIS/EIS investment vehicle which gives individual investors access to the start-up technology space while allowing them to receive tax reliefs of up to 64 per cent of the capital invested under the Enterprise Investment Scheme.
The accelerator fund aims to close the funding gap between crowd funding and traditional venture capitalists in the start-up technology sector allowing investors to benefit from its organic growth potential.
The investment strategy aims to deliver both capital preservation as well as growth which has historically been a challenge for most SEIS/EIS funds.
The investment
State Street Corporation has been appointed by Marketfield Asset Management to provide depositary, fund administration, regulatory reporting, risk reporting and liquidity monitoring services for the firm’s Dublin Fund.
The fund, which previously existed as a Cayman Islands registered fund, has been redomiciled to Ireland as a Qualified Investor Alternative Investment Fund (QIAIF), making it available in Europe under AIFMD, and is one of the first new AIFs authorised in Ireland under AIFMD.
Michael Shaoul, chairman and chief executive officer of Marketfield Asset Management, says: “Our decision to redomicile our fund to Europe under the new AIFMD regime was consistent
An investment fund Adamas Finance Asia (AFA) invested USD500,000 into three weeks ago has achieved a gross IRR of 31.83 per cent from a newly-exited project, Project Changlelu.
Because of the fund’s structure, the exit has increased its net asset value and the cash generated becomes available for future investment.
The investment fund, BRJ China Credit Fund Limited, was launched in August 2013 by Hong Kong-based Adamas Asset Management (HK) Limited.
Since February 2014, Adamas has been has been acting as AFA's investment manager.
AFA chairman John Croft says: "The BRJ exit from the Project Changlelu provides
Hamilton Lane Advisors has held the final closing of Hamilton Lane Private Equity Fund VIII, a global and diversified private equity fund-of-funds.
Originally targeting USD400 million, the fund received strong interest from the institutional investor community, exceeding its target to close on USD426.8 million.
"Despite the consolidation happening in the funds-of-funds market today, we believe the demand for Fund VIII is a testament to Hamilton Lane's highly selective investment process and track record within this sector," says Mario Giannini, chief executive officer of Hamilton Lane. "We are pleased to share the news of the final close of our most
Arma Partners has acted as financial adviser to HgCapital on its reinvestment in Visma Group, valuing the business at a total enterprise value of NOK21 billion (GBP2.1 billion, USD3.5 billion).
As part of this transaction, KKR is selling part of its majority holding in Visma and Cinven is committing capital for the first time.
HgCapital will be a co-lead investor in the new transaction structure, alongside KKR and Cinven, who will each hold 31 per cent.
HgCapital initially invested in Visma in 2006 through its HgCapital 5 Fund. HgCapital sold a majority of its stake to KKR in
Actis, the pan-emerging markets investor, is taking a significant minority stake in Jiashili Food Group, one of the largest Chinese biscuit brands.
Jiashili is a market leader in the production of plain biscuits and crackers, and holds the second biggest share of the plain biscuit market in China.
Actis is investing alongside Jiashili’s current chairman and owner Huang, a businessman who has grown revenues fourfold since acquiring the business in 2007.
Max Lin, the deal lead and a director in Actis’s China office, will join the Jiashili board.
Since 2001, Actis has invested over USD600m in consumer
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