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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
By Brian Kelliher & David Lawless, Dillon Eustace – Since the establishment of the International Financial Services Centre in Ireland in 1988, Ireland has become a domicile of choice for asset managers seeking to establish regulated funds for distribution worldwide.
Over 430 global fund promoters have used Ireland as a fund domicile in order to establish regulated funds. As of 31 December 2013, there were 5,599 Irish domiciled funds with assets of approximately EUR1.344trn1. Such funds are regulated by the Central Bank of Ireland (the “Central Bank”), which is the competent authority with responsibility for the authorisation and supervision of funds
Paris-based private equity firm Activa Capital has promoted Sophie Rouland to partner.
At the same time, Pierre Chabaud and Jean-Baptiste Salvin are both promoted to investment director and Denis Houdet becomes investment manager.
Charles Diehl, partner of Activa Capital, says: “These promotions reflect the strong contribution of the team to the success of Activa Capital. In particular, Activa Capital is delighted that Sophie Rouland joins the partnership at a time when Activa Capital is seeing exciting opportunities within the French mid-market and has enjoyed a rapid first close of its new fund.”
Rouland (40) joined Activa Capital in
Schroder UK Property Fund has acquired Tata Steel’s UK distribution hub, The Steel Park, Wednesfield in Wolverhampton from Threadneedle Property Investments Management for GBP34.10m.
The 60 acre site comprises three industrial warehouses, a headquarters office building and a study centre totalling 761,614 sq ft.
The entire site is let to Tata Steel UK Limited by way of six co-terminus occupational leases. The leases have c.12 years unexpired and benefit from 2.5 per cent per annum increases compounded and receivable five yearly.
James Lass, fund manager of Schroder UK Property Fund, says: “This purchase forms a key part of
HIG Capital’s Brazilian affiliate has made a significant investment in Office Total, a Brazilian managed print services (MPS) provider.
Established in 1995 with headquarters in Rio de Janeiro, Office Total outsources and commercialises a wide range of office equipment from several suppliers and offers a wide range of leasing programmes to its clients.
The company operates regionally and has a client base spread over several industries. It has nearly 500 long-term outsourcing contracts and provides ongoing technical support and monitoring services.
Andre Vinicius, CEO of Office Total, says: “HIG’s partnership will enable the company to participate in larger
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