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An investment fund into which AIM-quoted Adamas Finance Asia (ADAM) invested USD500,000 in early April has exited from a Chinese investment for the second time in four weeks, this time achieving an IRR of 27.26 per cent.
The investment in both projects was made by the BRJ China Credit Fund Limited, an investment fund launched by Hong Kong-based Adamas Asset Management (HK) Limited (Adamas).
Since last February, Adamas has been acting as ADAM's investment manager.
Financing structured by Adamas is backed by robust collateral held either outside mainland China or in secure property assets.
US, UK and Hong Kong financial services regulators have increased their expenditure over the last seven years by 59.4 per cent, an average of 8.075 per cent each year, since the end of fiscal year 2006/07, according to Kinetic Partners.
The increase may be the product of growing pressure on regulatory agencies to deepen the scrutiny of those working in the financial services industry following the crash in 2008.
Kinetic Partners’ research found that the US Securities and Exchange Commission (SEC), the UK Financial Conduct Authority (FCA) and the Securities and Futures Commission of Hong Kong (SFC) had a
FF&P Private Equity has invested in European self-ticketing solution ticketscript, which has offices in London, Amsterdam, Antwerp, Barcelona and Berlin.
Since its launch in 2006, it has worked with over 70,000 events across Europe, and sold over 11 million tickets for its clients.
FF&P Private Equity will be investing GBP7million in the business, enabling ticketscript to continue its international expansion and develop new services.
Henry Sallitt, director of FF&P Private Equity, says: “We are delighted to have invested in ticketscript as a truly disruptive service provider in the pan-European ticketing market, and back the management’s ambitions to substantially
Alternative investment and private securities marketplace FNEX has appointed Chris Nelson as the company’s chief technology officer.
In this role he will oversee overall company operations, systems and platform development.
Nelson brings over 18 years of experience in technology. He joins FNEX from Delivra where he was director of operations, growing the company’s top line more than five times without incurring any debt, and spent many years in the role of director of information technology.
Prior to Delivra, Nelson held multiple roles at T2 Systems, Indiana Farm Bureau Insurance and served as Airborne Communications Operator for the
Funds advised by Pacific Equity Partners (PEP) have sold Peters Food Group, one of Australia’s oldest consumer businesses, to R&R Ice Cream backed by funds advised by PAI Partners.
The terms of the deal have not been disclosed.
Under the agreement, R&R will acquire Peters, with its portfolio of household name ice creams including Drumstick, Connoisseur, Peters Original and Maxibon.
PEP Fund IV purchased Peters from Nestlé in 2012. Since the acquisition, Peters has undergone a significant transformation driven by investment in its core brands, substantial new product development and improvement in operating costs, under the leadership of
Ogier has advised X2 on the launch of its new natural resources venture, X2 Resources Partners, a Guernsey closed-ended investment vehicle.
X2 Resources has been formed by the core executive team that built Xstrata into a USD50 billion mining major from a USD500 million debt-constrained company, led by former chief executive Mick Davis and chief financial officer Trevor Reid.
Its objective is to build a mid-tier diversified mining and metals group.
X2 Resources has raised USD2.5 billion of committed equity capital funding and up to a further USD1.25 billion of conditional equity capital funding, from a group of
Entrepreneur and philanthropist Dr BR Shetty is teaming up with equity partners associated with UAE investment firm Centurion Investments to acquire Travelex from Apax Partners.
Following completion of the transaction Lloyd Dorfman will be founder and president of Travelex and remain a shareholder. Peter Jackson, chief executive officer of Travelex, together with the existing management team, will continue to lead the company.
Dr Shetty’s principal investment portfolio includes significant holdings in nmc Health plc, UAE Exchange and Neopharma, as well as investments in hospitality, food and beverage businesses.
Centurion is an investment vehicle based in Abu Dhabi, owned and controlled
Clearstream has issued the Domestic Markets Monitoring Report to support depositary banks in managing their new obligations as stipulated by the Alternative Investment Fund Manager Directive (AIFMD).
AIFMD enters into force on 22 July 2014, imposing tight restrictions on the regulation and supervision of AIFMs to ensure greater market transparency and increased investor protection.
The directive directly affects depositary banks offering custody services on behalf of alternative investment funds. These institutions will be required to provide a general oversight of the fund’s investment activities to keep custody risk in a market or a sub-custodian under control. In the event
Ogier Fiduciary Services in Jersey has promoted Charles Le Cornu to director and appointed two new directors, Simon King and Jon Barratt, to the funds and real estate teams respectively.
Le Cornu joined Ogier in 2006 and has 10 years’ experience in the offshore financial services industry specialising in investment fund accounting and administration. He has particular experience with private equity, venture capital and mezzanine funds. Prior to joining Ogier in 2006, Le Cornu trained with KPMG and is a member of the Institute of Chartered Accountants in England and Wales.
King joins the funds team from State Street
Private equity investment firm Auda has opened an office in Shanghai and appointed Jacob Chiu as a managing director and head of the firm’s Asian business.
Shanghai will be the fifth office for Auda worldwide and the firm’s second in Asia.
Auda has had an office in Hong Kong since 2007.
“The Auda Shanghai office will facilitate our expanding investment research efforts in China, Asia’s largest private equity market,” says Ernest Boles, Auda’s chief executive officer. “We are fortunate to have been able to recruit Jacob Chiu, one of the most experienced private equity fund investors in the
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