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Zoyi Capital has completed its USD20m investment in Camelot Information Systems, a provider of enterprise application services and financial industry information technology services in China.
This follows the announcement by Camelot in September last year that it had entered into a merger agreement for a going private transaction.
Camelot is the largest domestic provider of SAP-based enterprise resource planning services in China and also ranks first in several types of solutions, including teller systems and IT testing, to the financial IT services market. The company has developed a large talent pool of SAP-based ERP consultants, and has long term
The US and Luxembourg governments have signed an agreement to improve international tax compliance and to implement the Foreign Account Tax Compliance Act (FATCA).
On 27 February 2014, the Luxembourg and US negotiating teams agreed on the substance of the Model 1 Agreement.
ALFI – the Association of the Luxembourg Fund Industry – has welcomed the signature of this intergovernmental agreement (IGA).
The association has been working hard to ensure that its members are best prepared for the implementation of FATCA. A Q&A document is being finalised by ALFI's FATCA implementation working group. The working group comprises representatives
The UK is the clear leader in the European private equity (PE) buyout market, accounting for 40 per cent of all buyout value in Q1 2014, according to the latest data from the Centre for Management Buyout Research (CMBOR).
With EUR5.2bn from 47 deals this quarter, the UK has seen its market-share in Europe in terms of value increase by five per cent from Q4 2013 and eight per cent compared with the same period last year.
Overall volume in the European buyout market has held up – there were 130 PE-backed deals completed in Europe in Q1, compared
Venture capital fund manager Mercia Fund Management (MFM) has added an online logistics platform Dealer Management Portal (DMPortal) to its portfolio of technology investments.
Officially launched in March 2014, the software-as-a-service (SaaS) platform is aiming to revolutionise traditional vehicle auction and transportation by providing an online solution for car dealerships.
The company will join MFM’s expanding digital portfolio, and the SEIS funding will support the official launch of DMPortal.
DMPortal’s centralised vehicle planner enables large car groups with their own fleets to efficiently manage vehicle movements. Whilst vehicle distribution commonly runs at a loss, the DMPortal system facilitates
LBO France-backed Exxelia-Eurofarad, a provider of customised passive components including capacitors, filters and sensors, has completed a EUR175m refinancing.
Crédit Mutuel-CIC and Société Générale CIB acted as mandated lead arrangers and bookrunners of a EUR130m senior financing.
ICG has underwritten a EUR45m mezzanine tranche.
Thanks to this refinancing package a EUR82m dividend was distributed to shareholders.
The new financing structure, which includes a redefinition of covenants, is portable.
In 2013, Exxelia-Eurofarad recorded turnover of EUR115m compared to EUR73m in 2010.
LBO France acquired the company in December 2010.
The Russian Direct Investment Fund (RDIF) has attracted a consortium of international investors from the Middle East and China to invest in Sodrugestvo, an integrated agricultural processor and trader.
Sodrugestvo has revenues of around USD2.0bn in 2013. In the event the transaction is completed, the funds will be used to finance geographical expansion, as well as further vertical integration.
Sodrugestvo is a supplier of soybean meal in Russia. The company also processes rapeseed, trades agricultural commodities and operates logistics, warehousing and port infrastructure business units. Sodrugestvo is incorporated in Luxembourg and has operations in Russia, CIS, Brazil, Northern Europe,
Kohlberg Kravis Roberts (KKR) and Fleur de Lis Energy have formed a partnership to pursue investments in producing oil and gas properties in North America.
The partnership will be part of KKR’s Natural Resources (KNR) platform.
Founded by Porter Trimble, former vice chairman of Merit Energy Corporation, Fleur de Lis Energy specialises in the acquisition and exploitation of producing conventional and unconventional oil and gas assets in North America.
Trimble has 25 years of oil and gas experience and over the course of his career has successfully led the acquisition of over USD6bn of upstream oil and gas
Representatives from White Star Capital, TwentyFour Asset Management, Syntaxis Capital and Odyssey Capital have all been confirmed as among the panellists for the Guernsey Funds Forum 2014.
There are now five weeks to go until the annual event, which this year is titled ‘The pursuit of capital – art or science?’ and takes place on Thursday 1 May at the Grange St Paul’s Hotel in London.
It was announced in February that the keynote speaker will be Jim O’Neill, the former chairman of Goldman Sachs Asset Management and creator of the ‘BRICs’ acronym. The event will be moderated by
Private equity firm HIG Capital has completed the sale of its portfolio company American Hardwood Industries (AHI) to Baillie Lumber.
Based in Waynesboro, Virginia, AHI is a manufacturer and supplier of hardwood lumber in the US and abroad.
Founded in 1955, AHI is the largest producer in its regions with over 100 million board feet of annual capacity across eleven sawmills and kiln drying facilities in Virginia and throughout the Appalachian territory. AHI sells its products under the Augusta, Blue Triangle and Graham Lumber brands.
HIG originally invested in AHI, then Augusta Lumber, in 2006. Since that time,
FMO, the Dutch Development Finance Company, has seen the value of its total investment portfolio increase to EUR6.6bn in 2013 from EUR6.3bn in 2012, according to the company’s annual results.
The quality of the portfolio remains strong. A net profit of EUR133m (2012: EUR145m) will enable further investments and increase the development impact in developing countries.
FMO achieved record new commitments of more than EUR1.5bn during the year (2012: EUR1.4bn). Other highlights of 2013 included the launch of our first investment fund and the issue of its first public sustainability bond in the market, where it encountered strong investor
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