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UBS Fund Services has launched its Depositary "Lite" platform to help managers of offshore funds fulfil the requirements of the Alternative Investment Funds Directive (AIFMD).
UBS will conduct the cash flow monitoring, safekeeping and general oversight requirements as required by the Directive which will be a change to the existing framework for offshore funds.
This new service is one of many new product offerings that UBS Fund Services will bring to market in 2014 to further support managers target European capital.
David Rochford, head of regulatory product development at UBS Fund Services, says: “We offer the full range
European sector-focused private equity investor HgCapital has made a significant investment in Ullink, a provider of connectivity and trading solutions to the financial community.
The partnership with HgCapital will see Ullink further growing its business and pursuing extensive expansion plans.
Founded in 2001 by the current CEO Laurent Useldinger, Ullink has grown quickly to become one of the fastest growing companies in its sector. HgCapital’s investment will help Ullink to accelerate its organic growth across the business.
HgCapital is investing alongside Useldinger and the current management team who will continue to lead the business on to its next
Private equity provider LDC has extended its commitment to support the growth of UK-based manufacturing and specialist engineering businesses, after investing more than GBP250m in the sector within the last two years.
Having announced an initial commitment of GBP200m to the sector in October 2011, and increased it to GBP300m in 2013, LDC has now further increased its investment target, pledging to place a total of GBP500m into relevant new investments by the end of 2015.
The GBP500m commitment will continue to focus on firms with specialist manufacturing capabilities across a wide range of niche industrial sectors such as
The Investment Program Association (IPA) has appointed Matthew Tramel as chief communications officer.
Tramel will direct the IPA's overall strategic communications to all audiences, including sponsor, broker-dealer and associate members, the media and other constituencies, and will be responsible for creating greater understanding of direct investments generally.
"We're excited to have such a high-calibre communications professional join the IPA," says Kevin M Hogan, president and CEO of the Investment Program Association. "Matt has extensive experience working with our many audiences and has played a pivotal role in the IPA's public relations initiatives. As we expand our reach and address
Private equity firm Resilience Capital Partners has acquired Thermal Product Solutions (TPS), a subsidiary of SPX Corporation.
TPS designs and manufactures standard and custom environmental test chambers, industrial ovens and industrial furnaces.
Product brands include Tenney, Blue M, Gruenberg, Lindberg, and MPH. The company's facilities are in White Deer, Pennsylvania, Riverside, Michigan, and Malaysia.
"We are pleased to have been selected by SPX for this divestiture. This is Resilience's tenth corporate carve out often working with a very large corporation on an extremely complex corporate divestiture. Resilience and SPX closed this transaction in 44 business days. These are
Livingstone’s London office has appointed Karen Dawaf, Tom Smith and Lewis Gray.
Dawaf qualified as a Chartered Accountant with Deloitte in 2011, before joining the corporate finance advisory practice. She spent two years advising clients on sell-side and buy-side transactions and joins Livingstone’s business services sector team as an associate.
Smith qualified as a Chartered Accountant at PwC where he spent three years with clients in the financial services sector and a further year in the firm’s transactional modelling team, gaining particular experience in the industrial and consumer sectors. He joins Livingstone’s industrial sector team as an analyst.
Boutique fund services provider Moore Group has boosted its team with the appointment of Emma Price, an accountant specialising in private equity funds, as a senior manager.
Price (pictured), who is an ACCA qualified accountant, will focus on supporting the expanding specialist management team with the technical aspects of private equity.
Price trained at Ernst & Young as an auditor before specialising in PE with State Street and Triton Administration.
Her appointment follows Jon Trigg’s promotion to head of European fund services.
Since Moore was acquired by First Names Group in January 2013 it has invested heavily
Mishcon de Reya has appointed two new partners to the firm's growing funds practice.
Tim Flood, who joins the firm at the beginning of March 2014 from Jones Day, focuses on securities regulation and investment funds.
His experience covers all aspects of investment funds law, and he regularly advises on the interpretation of the Financial Services and Markets Act 2000 (FSMA), as well as clients' rights and responsibilities under the rules of the Financial Conduct Authority (FCA).
Flood has significant experience in money laundering issues; how overseas entities may conduct investment business and market their investment products and
Karnov Group, the Scandinavian information and business intelligence provider backed by GMT Communication Partners, has secured a DKK510m refinancing.
Karnov provides legal, tax and accounting information to businesses in Demark and Sweden and was acquired by GMT, the European TMT-focused private equity group, in 2011 from Thomson Reuters.
Since the acquisition, Karnov has pursued an ambitious strategy that has transformed the business from a 20th century publisher into a modern information technology company. In addition to bringing in a new chairman, CEO and management team, the company has pursued a customer-centric approach, focusing on the integration of premium information
Law firm Baker & McKenzie has published the latest edition of Private Equity Insights, an annual look at some of the key trends and developments in the global PE industry.
With contributions from Goldman Sachs, Investec PE, J-Star, EQT, Riverside and many other industry commentators, Insights profiles some of the successful strategies currently being employed by funds, investors, management and companies.
Simon Hughes, global chair of Baker & McKenzie's private equity group, says: "There is no doubt that private equity has been through a reboot. This report spotlights the ongoing challenges as well as the opportunities but all the indications
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