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International law firm Akin Gump is advising VimpelCom on the sale by its Egyptian-listed subsidiary Global Telecom Holding (GTH) of its 51 per cent stake in Orascom Telecom Algérie (OTA or “Djezzy”) to the Fonds National d’Investissement (FNI), the Algerian National Investment Fund.
The purchase consideration of USD2.643 billion plus dividends and proceeds, due to be distributed immediately prior to closing, of USD1.862 billion.
The deal, which was signed on 18 April 2014, is anticipated to close by the end of 2014. Upon closing, the parties will settle all outstanding disputes, at which point GTH and the FNI will
Gusto Restaurant and Bar has completed a management buyout from Living Ventures, with the support of an equity investment from Palatine Private Equity.
The Knutsford-based restaurant brand, which was founded in 2007 following a re-launch from Est Est Est, is looking to open more restaurants across the UK over the next three to four years.
The Living Ventures Group was founded in 1999 by CEO Tim Bacon and commercial director Jeremy Roberts. It owns other well-known brands including Blackhouse, Australasia, Artisan and The Alchemist, and recorded group sales of GBP65m in the year to March 2014 – a 36
Sheffield-based temporary staffing business Hallam Medical has secured a GBP3.3m investment from private equity house Key Capital Partners (KCP).
The business, which is focused on supplying the NHS and private healthcare providers in the primary care markets, is forecasting sales of GBP14 million in the year to April 2014.
Hallam currently employs 40 staff and deploys around 400 highly qualified nurses, largely advanced nurse practitioners and community care specialists. The firm is headquartered in Sheffield and opened its London office in 2013 to enhance its offering to clients in the south of England.
CEO Scott Davies and clinical
The NASDAQ OMX Group has expanded its London business to new, larger premises.
The move will bring together all of NASDAQ OMX’s 150+ employees in London, following the 2013 acquisitions of Thomson Reuters’ investor relations, public relations and multimedia solutions businesses and eSpeed, and the launch of the NLX derivatives market.
London as a global financial hub is a key market for NASDAQ OMX, which is a provider of trading, exchange technology, information and public company services.
NLX is NASDAQ OMX’s London derivatives platform for trading interest rate derivatives. In 10 months of operation NLX has achieved a moving
GrowthCap has extended its private equity platform to include investment opportunities for ultra high net worth individuals.
"We saw a large gap in the private investment market," says GrowthCap CEO RJ Lumba. "The market offers multiple attractive avenues for individuals to invest in seed stage or angel opportunities, but there are very limited means for individuals to access direct investments in established, cash-flowing private enterprises, known as growth equity investments."
Through GrowthCap, individual investors can now invest in a variety of highly-curated private companies. GrowthCap performs thorough due diligence prior to approving a company for its platform.
"We
K2 Design & Strategy has entered into a USD45 million equity subscription facility with private equity investment firm Lambert Private Equity.
The company plans to list initially on the OTCBB or equivalent exchange.
K2 Design & Strategy is an advanced analytics and digital innovation company, bringing advanced technologies to market which enhance performance of high stakes teams in complex business environments.
The company is led by George Cs Pell, founder, principal and CEO. Pell brings over 20 years of success in digital innovation, technology strategy, executive consulting, and performance strategy for many of the largest corporations in the
Kurma Partners’s Biofund II, the first venture capital fund dedicated to financing innovation in the rare diseases space, has made its maiden EUR7.5 million investment in Oxthera, a Stockholm-based biopharmaceutical company.
OxThera is currently conducting a placebo-controlled clinical trial with Oxabact in patients with primary hyperoxaluria at seven clinical sites in three countries.
Primary hyperoxaluria (PH) is a rare autosomal recessive disorder leading to markedly elevated levels of endogenous oxalate in plasma and urine. High levels of urinary oxalate cause kidney damage, including calcification of the kidney. If left untreated, the disease can cause kidney failure and premature death.
The California State Teachers’ Retirement System (CalSTRS) has committed USD200 million to diversify its Private Equity Proactive Portfolio, which reaches small, niche emerging managers including those in under-served domestic markets.
This latest commitment expands the programme, established in 2003, to USD1.9 billion.
The programme adds a new partner, Chicago-based Muller & Monroe Asset Management, with a USD100 million commitment.
BAML Capital Access Funds Management (BAML, a subsidiary of Bank of America Corporation), an existing relationship, is expanding with another USD100 million commitment.
CalSTRS will invest in Muller & Monroe’s USD400 million commingled fund, known as the M2
PGGM Vermogensbeheer has appointed Citi as the depository bank for its range of alternative investment funds.
The appointment extends the existing long-standing relationship between the two.
Citi established its depositary facility in the Netherlands in July 2013 following the implementation of the Alternative Investment Fund Managers Directive (AIFMD). The bank is now able to support locally-domiciled funds with independent depositary capabilities, including oversight of funds’ service providers, safekeeping of funds’ assets and daily automated monitoring of funds’ investment guidelines and regulatory restrictions.
“We are delighted to welcome PGGM’s fund range as the first live clients for our Dutch
Maven Capital Partners, a private equity and alternative asset manager, has secured GBP7 million of funding for a hotel development using the benefits of Business Premises Renovation Allowance (BPRA).
The deal will see the purchase of Telfer House, an empty office building in Glasgow’s Merchant City, for refurbishment into a 96-bedroom ibis Styles hotel, which will be managed by the UK’s largest specialist hotel management company, RedefineBDL.
The deal represents Maven’s second hotel refurbishment project in the past year using the tax incentives available from BPRA. In April 2013, Maven secured a GBP4.6 million funding package for the redevelopment
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