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Law firm White & Case has advised the first new fund raised by Arle Capital since its spin out from Candover in 2009 on its acquisition of the Innovia Group for an enterprise value of EUR498 million.
Headquartered in Cumbria, Innovia is an international manufacturer of high quality, speciality film for its key markets of labels, overwrap, packaging and polymer banknote substrate. It employs around 1,600 people worldwide and, earlier this year, won the Bank of England contract to supply substrate for the new polymer GBP5 and GBP10 notes.
The White & Case team, led by long-term adviser to Arle Ian Bagshaw, was appointed to advise Arle Capital as manager of the newly raised
Brightpearl has raised USD10 million in a funding round led by new investor MMC Ventures, alongside participation from Quayle Munro and existing investors Eden Ventures and Notion Capital.
“We believe Brightpearl addresses a significant unmet need in a large and growing market. The team have developed an elegant cloud solution, which has become a mission critical tool enabling thousands of successful retail businesses. We are delighted to be leading this round of investment alongside such a strong group of investors and we’re very much looking forward to working with the team to continue building a phenomenal product and company,” says Rory
Paraag Davé, Tom Shelford and David Torbet have been made partners of Bowmark Capital, the mid-market private equity firm.
Senior partner Mark Salter also joins Bowmark’s management committee alongside Kevin Grassby and Charles Ind.
The internal reorganisation follows the recent fundraising of Bowmark Capital Partners V, which closed in December 2013 at its cap of GBP375 million. The new fund’s investment period begins this month and it will invest in growth-oriented service companies, typically with enterprise values of up to GBP100 million.
Salter has played a key role in Bowmark’s development over the past 12 years, including leading
Broadscope Fund Administrators, an independent private equity fund administration firm, has released a white paper outlining key recommendations for private equity firms developing strategies to comply with the Foreign Account Tax Compliance Act (FATCA).
The paper, FATCA Compliance for Private Equity Funds: Navigating the Clutter, outlines the responsibilities of both foreign and domestic private equity funds and suggests measures that should be considered in developing an effective FATCA compliance programme.
"FATCA goes into effect July 1 and there is still considerable uncertainty in the market," says Robert F Aufenanger, founder and managing member. "Private equity firms that have yet
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
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