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JTC Group’s funds arm has invested in an IT platform, FrontInvest, to bolster its capabilities in the funds sector.
The platform, provided by eFront, follows best practice processes and systems and helps to ensure that JTC Group can fulfil regulatory, financial and tax reporting requirements for its growing roster of fund clients.
JTC Group’s international funds team administers both closed- and open-ended funds established in Guernsey, Jersey and Luxembourg, as well as other non-domiciled fund structures in financial centres, such as the British Virgin Islands and the Cayman Islands.
Its expertise and scope has been enhanced by the
CVC Capital Partners has competed its acquisition of a controlling stake in Skrill Group from a consortium of investors led by Investcorp, which remains a shareholder.
Founded in 2001 and with operations across Europe and in the US, Skrill is among the world’s largest providers of digital wallet technology, with 36 million account holders and revenues of over EUR220m in 2013.
Using Skrill, customers can make mobile and online payments conveniently and securely, without revealing personal financial data. It also provides a safe way to send and receive money instantly, online.
Skrill’s worldwide payment network offers businesses access
French private equity firm Activa Capital has obtained and Alternative Investment Fund Manager (AIFM) passport from the AMF – Autorité des Marchés Financiers – effective 4 February 2014.
Charles Diehl, partner of Activa Capital, says: “Activa Capital's AIFMD compliance confirms the quality of our processes under the objectives of the AIFM Directive. This approval is a milestone for Activa Capital, in our aim to be at the cutting edge of best practice private equity fund management in Europe. It will be helpful to investors when conducting due diligence."
Private equity firm PNC Riverarch Capital has acquired a controlling interest in Women’s Marketing Inc (WMI), a media strategy, planning and buying organisation focused on targeting female consumers and key retailers.
Founded in 1982, WMI serves over 250 customers in a wide range of end markets, including health, beauty, fashion, footwear and accessories, cosmetics and food and beverage.
The company’s planning and media buying services span the spectrum of media channels, including print magazines, digital, mobile, social media, out of home and broadcast. The company is headquartered in Westport, Connecticut, with an additional office in New York.
“Bringing
Fund governance firm DMS Offshore Investment Services has expanded its FATCA task force with the addition of Alaina Danley, formerly director of finance at Bain Capital, and Jennifer Dimitri, formerly director of investment compliance at the University of North Carolina endowment system.
Now comprising seven members, the DMS FATCA Task Force is led by Peter Stafford, formerly a senior partner with Appleby.
It brings together experts in compliance, law, accounting, finance and technology, to develop best practices for responding to the Foreign Account Tax Compliance Act (FATCA), a sweeping piece of legislation through which the United States aims to
Wellspring has raised USD5m in capital led by MK Capital, a USD250m venture capital firm focused on building companies in the software and digital media industries.
The capital will be used to strengthen Wellspring's product and technology position within the R&D and product innovation markets and for expansion in the corporate R&D, clinical, and academic research markets.
The Chicago-based Open Innovation software company was founded in 2003 as a spin-out of Carnegie Mellon University, initially providing technology transfer software solutions to universities and hospitals. Wellspring's Sophia software platform is used in universities across the world, in hospitals such as University Hospitals/Case
Phil White and Ben Loomes are to be appointed as co-managing partners of 3i Group’s infrastructure business, when current managing partner Cressida Hogg leaves the company at the end of March.
White and Loomes will be in charge of portfolio management and strategic development respectively. In addition, White will join 3i Group’s executive committee.
The business’s investment origination and fundraising activity will be led by Neil King, who will become senior partner and will also join 3i’s executive committee.
White joined 3i in 2007, and has 20 years of investment, advisory and financing experience, including from roles at
Brokers are optimistic about merger and acquisition activity in 2014 with 87 per cent projecting an increase in completed deals and the majority of advisors anticipating that overall deal volume will increase.
That is according to the Fourth Quarter 2013 Market Pulse Quarterly Survey Report published by the Pepperdine Private Capital Market Project, International Business Broker Association (IBBA) and M&A Source.
While the market is still clearly polarised, there is a shift toward greater seller leverage in every sector compared to Q4 2012.
The quarterly report aims to evaluate market conditions for businesses being sold in Main Street
Private equity firm Warburg Pincus has appointed Dinesh Moorjani as an executive-in-residence (EIR).
Moorjani (pictured) will work with Warburg Pincus to identify and evaluate investment opportunities in the mobile industry globally.
Moorjani was the founder and CEO of Hatch Labs, a mobile technology incubator and captive investment fund. Prior to Hatch Labs, he served as a senior vice president at IAC/InterActiveCorp and started the Mobile Group in 2007 where he was responsible for mobile strategy, operations and product development for IAC's leading businesses like Match.com and Citysearch.
Moorjani has led new product innovation and built consumer technology businesses at Samsung
Fund administrator Orangefield Columbus, a service provider to hedge funds, private equity funds, real estate funds, offshore mutual funds, family offices, funds of funds and hybrids, has seen record growth in 2013.
The company says its success has been fuelled by client service and delivery of global expertise in fund administration.
Orangefield Group employees over 450 staff members with substantial experience in financial services working with hedge funds, private equity and real estate funds, offshore mutual funds, family offices, fund of funds, hybrids, and other alternative investment funds.
In its first full year of operations following the merger,
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