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The Hong Kong Trust Company has chosen and implemented Linedata Admin Edge to provide fund administration servicing for its client base of individuals, family offices, intermediaries and corporations.
Hong Kong Trust provides professional trusteeship, fiduciary services, fund and private equity administration and corporate services.
The selection of Linedata Admin Edge was based on the platform’s strong functionality and ability to manage both fund administration and transfer agency functions and to handle a broad range of funds, many with special rules. Other criteria were the scalability, automation and compliance benefits of this established, robust administration platform.
Carolyn Butler, CEO
UK-based B&M Group is entering the German discounter market by acquiring a majority stake in the JA Woll Group.
The Soltau-based firm mainly sells clearance and end of line stock under the JAWOLL and HAFU brands in the north-west of Germany.
The transaction is currently awaiting approval from the competition authorities; the purchase price was not disclosed.
A team from CMS Hasche Sigle led by Dr Oliver C Wolfgramm advised Stern Vertriebs GmbH and its shareholders on all legal aspects of selling the JA Woll Group to B&M.
The current owners and CEOs of JA Woll, Ingo
EyeSee360, creators of the panoramic video camera 360Fly, has secured a growth capital investment from private equity firm Catterton Partners.
The investment will be used to accelerate market awareness and finalise development of 360Fly cameras, the 360MicroFly smartphone attachment and the 360Fly.com video hosting and sharing service.
Terms of the transaction have not been disclosed.
The 360Fly is a panoramic video camera that allows users to capture and share an interactive 360 degree panoramic video.
The 360Fly camera is shock-proof, waterproof, and has built-in Wi-Fi/Bluetooth functionality.
360MicroFly is a smartphone lens attachment that offers smartphone users the
Bridges Ventures is investing in Clothingsites.co.uk, a UK-based premium designer menswear e-commerce business.
Established in 2002 the business grew by 30 per cent last year.
It consists of: Woodhouse Clothing, an in-season premium menswear e-commerce retailer; Brown Bag, which sells out of season stock at discounted prices; and Trainerstation, which sells trainers and shoes.
Bridges’ investment will further fuel the business’ growth with the majority of capital being used for stock, recruitment, technical upgrades and the relocation to a new, larger warehouse.
Bridges identified Clothingsites as an attractive platform on which to scale up an already well-established
CDC Group, the UK’s development finance institution, is making a USD28m equity investment in Ratnakar Bank (RBL Bank) in India.
The investment, which sees CDC take a 4.8 per cent stake in the bank, will support RBL Bank’s expansion into new regions of India and is CDC’s first direct equity investment into a bank in India under its new strategy.
Founded in 1943, RBL Bank was traditionally concentrated in Maharashtra, Karnataka and Goa. In 2010, a new management team was brought in to pursue an expansion strategy focusing on financial inclusion, agribusiness financing and lending to small and medium-sized
The Riverside Company has named Tommy Seddon as field originator for the UK and Ireland.
In this role, Seddon will oversee Riverside’s efforts to source, analyse and acquire growing businesses in these key markets.
Seddon joined Riverside’s London team in 2013.
He succeeds Lars Eriksson, who had overseen efforts in the region prior to his recent promotion to director, head of European origination for Riverside.
“Tommy has demonstrated a passion for origination and a keen understanding for the British and Irish markets,” says Eriksson. “We are delighted to have him into this vital post as we continue
Independent mobile solutions company Somo has received USD5.5m follow-on funding from MMC Ventures – including the MMC London Fund – and other private investors.
Somo was one the first beneficiaries of the MMC London Fund, which is overseen by the Mayor of London and intends to support the growth of London-based businesses.
Since taking the investment last year, Somo has grown by more than 100 per cent – having hired 60 additional staff, including mobile engineers, insights, loyalty and social specialists, while attracting several new clients including De Beers, British Gas, and Tesco.
In addition, Somo has worked
Geneba Properties has obtained an AIFMD licence in the Netherlands whereby Orangefield will act as a depositary.
Orangefield is one of the first service providers authorised by the Dutch regulator to act as a depositary.
The new AIFMD regulations were implemented with the objective of enhancing investor protection. The directive entered into force on 22 July 2013.
At the moment, AIFs in EU countries that need to adjust to the new regulations are in their transition stage, but on 22 July 2014 adherence to the new directive is a legal requirement.
Among the key measures introduced in
X2 Resources has secured USD2.50bn of committed equity capital funding and up to a further USD1.25bn of conditional equity capital funding from a group of five investors.
The committed equity capital is available for immediate draw down and will be used to finance the creation of a new mid-tier diversified mining and metals group.
The investors, who have contributed in equal amounts, comprise Noble Group, TPG Capital, sovereign wealth and pension fund investors.
X2 Resources is in discussions with a further select group of potential investors who are also seeking to benefit from opportunities in the natural resources
Marlin Equity Partners has held the first and final closing of Marlin Heritage with USD400m of limited partner capital commitments.
The Heritage Fund was only offered to investors in Marlin’s fourth flagship fund, and closed at its hard-cap in less than three months while generating demand of more than four times its initial USD250m target.
The Heritage Fund will employ the same investment philosophy and operationally-focused strategy and will target transactions in the lower middle market. Consistent with Marlin’s predecessor funds, the Heritage Fund will invest in businesses that can benefit from the firm’s capital base, industry relationships and
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