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Lazard Asset Management (LAM) is expanding in the Middle East with a Dubai office.
The firm has hired senior professionals, who will provide investment solutions to clients in the Middle East.
Farah Foustok will serve as a managing director of LAM and senior executive officer of LAM’s new Dubai office.
Fadi Al Said, director and portfolio manager/analyst at LAM, will lead a five-person investment team that will manage MENA and frontier markets equity strategies for local and global clients.
"We have significant client relationships in the Middle East that have been established over many years, and this
A fund managed by Ashmore Colombia has acquired an 85 per cent interest in Compañía de Desarollo Aeropuerto Eldorado (Codad), the concessionaire of the two runways at El Dorado Airport in Bogotá.
The runways have been acquired from Abertis Infraestructuras for a total consideration of COP132bn (approximately USD66m).
Codad was incorporated in 1995 to execute the concession contract for the construction of the second runway at El Dorado Airport and to perform maintenance on both of El Dorado’s runways. El Dorado is Colombia’s largest airport carrying the third highest number of passengers in Latin America, with 22.5 million passengers
Former UK science minister Ian Taylor has been appointed as the chair of the advisory board of venture capital firm Midven’s Rainbow Seed Fund (RSF).
Taylor (pictured) was a member of the UK Parliament for 23 years until he stood down in 2010, including serving as science minister from 1994 to 1997.
He is now executive chairman of LivingPlanIT SA which is working with the Technology Strategy Board to encourage smaller companies to access the Internet of Things. He also chairs the National Space Academy Steering Group.
Taylor is a strategy adviser to the ESA director-general. He is a
Elysian Capital I has acquired, in conjunction with the company’s management, Wellbeing Software Group, an IT group focused on the provision of software solutions and services to hospitals throughout the UK.
The group is formed of three distinct business units, HSS, EuroKing and Apollo, of which HSS is the largest.
HSS, based in Mansfield, supplies radiology software (RIS) into secondary care (hospital trusts). The software is at the core of the radiology department, holding patient information; appointment scheduling; radiology history (e.g. MRI, X Ray or Ultra Sound); as well as providing the functionality and history for the diagnosis, consultants
By Fiona Le Poidevin – The implementation of AIFMD provides increased reasons to (re)domicile or co-domicile funds in the third country of Guernsey, says Fiona Le Poidevin, Chief Executive of Guernsey Finance.
In October, the Alternative Investment Management Association (AIMA), together with EY, published the results of a survey which showed the inconsistency in approach from national regulators in how they are implementing the Alternative Investment Fund Managers Directive (AIFMD).[i]
It followed a previous AIMA and EY report published in late July last year which showed that only 12 out of 31 European Union (EU) and European Economic Area
Verint Systems has completed its acquisition of KANA Software, a portfolio company of Accel-KKR, for USD514.2m in cash.
"Accel-KKR was an extraordinary partner to the KANA management team following the acquisition that brought the company private in December 2009," says Mark Duffell, KANA's CEO. "Accel-KKR did what they said they were going to do including supporting our efforts through investments to grow the company both organically and through targeted strategic acquisitions. Through our partnership, we were able to create a market leader in the growing customer service software market."
"We are very pleased with the results of our investment in KANA,
Private equity house Key Capital Partners (KCP) has sold food manufacturer TSC Foods to Edward Billington and Son Limited.
Scunthorpe-based TSC Foods, which was founded in 1991, produces and supplies chilled and frozen sauces, soups, entrees and dressings to the retail and food service markets.
The business developed the Glorious! soup range, which is sold in Morrisons, Asda and Sainsbury’s supermarkets, as well as the Co-op and Ocado.
The Billington Group is headquartered in Liverpool and is one of the UK’s largest family owned businesses. The group has over 150 years’ of trading experience with operations across the
Website building platform BaseKit has secured a further GBP4.5m funding from the Angel CoFund backed by the British Business Bank, alongside existing investment from Eden Ventures, NESTA and Nauta Capital.
The additional funding follows a previous investment of GBP10m.
George Whitehead, chairman of the Angel CoFund, says: “We are very impressed with what BaseKit has achieved and also its potential for the future. Our goal is to provide cash for high-growth UK businesses – and BaseKit’s company vision, ability to execute and current momentum classify it is as exactly the kind of business we like to invest in.”
S&P Dow Jones Indices has launched the S&P Business Development Company (BDC) Index and licensed it to Nikko Asset Management to launch a tracker fund in Japan.
The index is comprised of US-listed private equity firms that invest equity and debt capital in small and mid-sized businesses, allowing investors to measure a growing industry specialty within the financial sector.
Drawn from the S&P United States BMI universe, the S&P BDC Index is modified float-adjusted market cap-weighted. Modifications are made to market cap weights, if required, to reflect available float, while applying a single stock cap of 10 per cent
Akre Capital Management has appointed Daniel Leger as head of strategic planning and client services.
With extensive alternative investment industry experience, Leger will focus on building and expanding the firm’s relationships with institutional investors and consultants.
“We are delighted to have Daniel be a part of our team,” says Charles T Akre, Jr, the firm’s founder. “He will be instrumental in fostering new relationships with institutional investors and helping us think critically about how we should continue to grow our firm.”
Prior to joining Akre Capital Management, Leger worked with a wide variety of fund managers. He has held
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