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Co-investment programmes have a substantial risk of generating poor returns, even with a reasonably sized co-investment portfolio, according to a study by Altius Associates.
Altius’ study empirically examines the risk of building a concentrated portfolio of private equity co-investments.
Using a sample of 886 realised US buyout and growth investments ranging from 1979 to 2010, it shows that with a co-investment portfolio comprising 10 assets there is a substantial probability that the entire portfolio would generate an IRR below zero per cent.
Furthermore, even with a 20-company co-investment portfolio it is still possible to lose significant capital as
SunGard has launched Investran 7, Data Exchange and Insight to provide better data transparency and reporting for general partners, limited partners, fund of funds managers, family offices and service providers.
By streamlining the management of information throughout a private equity firm, the new solutions connect front, middle and back-office operations, help improve overall data management and deliver operational efficiencies to the organisation.
Firms will also benefit from customisable interfaces that help provide further flexibility on how information is delivered to stakeholders internally and externally, including investors and regulators.
Delivered as a managed service, Investran's Insight provides transparency and
Levine Leichtman Capital Partners (LLCP) has partnered with management to complete the acquisition of Nobles Worldwide.
Based in St Croix Falls, Wisconsin, and founded in 1948, Nobles is a provider of flex chutes that are used in a variety of air, naval and ground military applications.
Nobles is the largest supplier in its industry to the US military and its allies across the globe. The company's products are used on over 40 military platforms.
The investment in Nobles will be the second investment out of Levine Leichtman Capital Partners Private Capital Solutions.
Lauren Leichtman, co-founder and CEO
Tim Farazamand, managing director at LDC, has taken over as chairman of the British Private Equity & Venture Capital Association (BVCA).
Farazmand (pictured) succeeds Simon Clark, managing partner at Fidelity Growth Partners Europe.
“It is a great honour to be taking over as chairman of the BVCA, especially at such an important time for both the industry and the economy, and I wish to thank my predecessor Simon Clark for all his hard work over the past 12 months,” says Farazamand. “We are just over a year away from the General Election and I want to ensure, along with Tim
Stratus Technologies is to be acquired by an affiliate of Siris Capital Group in a transaction valued at approximately USD352m.
"This is the right deal at the right time for Stratus," says Dave Laurello, president and CEO, Stratus Technologies. "It is a clear endorsement of our strategy, our products and our people. Together we will continue to transform Stratus and take our industry-leading technology and solutions to a broader market, including the cloud."
"We are impressed by Stratus' 30 year track record of providing always-on capabilities for customers' most mission critical applications and are excited by the company's strategy
Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has formed a strategic partnership to host LiquidityBook’s complete buy-side solution, LBX, in the AbacusFLEX private cloud.
The partnership will offer AbacusFLEX clients access to LBX, which brings together order management, portfolio management, trading, network connectivity, compliance, and post-trade processing in one simple and reliable product.
LBX handles orders across asset classes and currencies as well as multiple prime brokers and is accessible 24/7.
LiquidityBook developed LBX to help clients adapt to a constantly evolving market environment by providing a platform that consistently utilises
KKR is supporting the development of European Locomotive Leasing (ELL) a provider of full-service locomotive leasing solutions to freight and passenger operators throughout continental Europe.
ELL is led by a team of rail professionals based in Austria and Germany.
The company has signed a framework contract for the order of as many as 50 state-of-the-art Siemens Vectron locomotives. The first locomotives are bindingly ordered today and will be delivered immediately. The additional locomotives will be delivered from 2014 through 2016 and will allow ELL to satisfy the demand from its expanding customer base.
The locomotive leasing sector in
More than two-thirds (67 per cent) of alternative investment fund managers say they are still concerned about reporting to local regulators, despite nearly all (95 per cent) saying they feel informed on the requirements of AIFMD.
This is one of the key findings of Confluence's 2014 Alternative Investment Fund Management Directive Transparency Reporting Survey, which polled 60 AIFMs and third party administrators to assess perceptions of and attitudes toward AIFMD regulation and compliance.
“Fund managers and third-party administrators are facing one of the most complex regulatory reporting challenges the industry has had to manage to date,” says Melvin Jayawardana,
Koji Drinks, a sparkling soft drinks brand, has completed a follow-on funding round of GBP150,000 from the Angel CoFund.
Future Drinks Company, the makers of Koji, who were one of the first companies to receive funding from the government-backed fund back in May 2012, launched Koji Drinks to the grocery trade this month.
This brings the total funding to date to GBP500,000, following a GBP350,000 first round by the Angel CoFund, Wren Capital and Arion One.
The Bristol-based company has developed an innovative production process, unique to Koji, which infuses a complex extract of natural fruits and
International law firm Maples and Calder has appointed 12 new partners across its global offices.
The new partners in the Cayman Islands office include Daniel Beckett, Jeremy Bomford, Michael Johns, Jonathon Meloy and Justin Pennay.
James Gaden, Richard Grasby and Terence Ho were appointed to partner in the Hong Kong office.
In the firm's Dublin office, Elizabeth Bradley and John Breslin were elected.
Matthew Gilbert and Tom Katsaros were appointed in the London and Singapore offices, respectively.
Global managing partner Henry Smith says: "Each year, we look forward to the chance to recognise the hard work
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