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Bowmark Capital, the mid-market private equity firm, has held a first and final closing of its new fund, Bowmark Capital Partners V, having raised GBP375m in just 10 weeks since its launch in October last year.
Despite being restricted to Bowmark’s existing relationships, the new fund attracted investor demand significantly in excess of its GBP375m cap, with approximately 90 per cent of the capital coming from investors in previous funds.
Bowmark Capital Partners V has 22 investors, with 49 per cent of the capital coming from Continental Europe, 34 per cent from North America, eight per cent from the
The private equity industry has raised the largest amount of capital from investors in any year since the start of the financial crisis in 2008, according to data from PEI.
Some 580 funds have collected a total of USD356bn in 2013, with just over USD80bn being raised by 119 funds in the final quarter.
The previous highest annual total for funds raised since 2008 was in 2012, when just over USD300bn was collected.
UK funds in particular have had a successful 2013. Fifty two funds collected an aggregate USD58.6bn, trumping the most recent high of USD55.7bn raised in
The UK economy heads into 2014 on a fair wind amid increasing evidence that wages are finally catching up with inflation and companies are becoming more willing to invest in their businesses, says Steve Davies, co-manager of the Jupiter UK Growth Fund and manager of the Jupiter Undervalued Assets Fund…
No matter that the UK economy grew at its fastest pace in three years in the third quarter, sceptics of the recovery are only too happy to flag the ongoing squeeze in real wages and the lack of business investment as evidence that the revival in Britain’s fortunes could yet
Grosvenor Capital Management and its affiliates have acquired Customized Fund Investment Group (CFIG) from Credit Suisse Group AG.
The combined business, with more than USD44bn in assets under management and over 375 professionals, will be one of the largest of its kind in the world.
"We are very pleased to complete our acquisition of CFIG. We are confident that the transaction fundamentally strengthens our platform and makes us a more valuable partner for our clients," says Michael Sacks, chief executive officer of Grosvenor. "Together, we will offer clients the ability to access the entire alternative investments landscape. And importantly,
Anthony Rawlins, compliance manager at Moore Stephens, advises on the top tips to consider in wake of the Alternative Investment Fund Managers Directive (AIFMD) transitional arrangements update…
While the deadline extension is good news for those firms that have yet to prepare their AIFM variation of permissions, this development should not be viewed as a disincentive to act now. We are advising all of our clients that fall within the scope of an AIFM to make their applications for authorisation or registration as soon as possible in the New Year.
The Treasury is currently ironing out some of the more
Eurasia Capital and Mandalay Capital have completed an equity capital raising for Silk Road Ventures for gross proceeds of CAD5m.
Eurasia Capital and Mandalay Capital have acted as financial advisors and joint placement agents with the regards to this transaction. Both firms are retained to advise Silk Road Ventures on planned larger equity placement to be completed in February 2014.
Silk Road Ventures intends to use the proceeds of this private placement to invest in high growth frontier markets in Mongolia, Myanmar and Mozambique.
“We are pleased to assist Silk Road Ventures in this equity financing transaction,”
High Road Capital Partners’ portfolio company Accurate Components & Fasteners has completed the acquisition of All Tool Sales.
Based in Franksville, Wisconsin, All Tool Sales operates through two divisions: All Fasteners, a distributor of industrial fasteners used by original-equipment manufacturers; and All Tool Sales, a distributor of cutting tools and industrial supplies.
“All Tool Sales has a strong reputation for high-quality products and consultative services through its vendor-managed inventory programmes,” says Benjamin A Schnakenberg, High Road partner. “This acquisition expands our footprint and solidifies Accurate’s position as a leading provider of industrial fasteners and other industrial supplies to manufacturers
Private equity firm HarbourVest Partners has promoted Julie Eiermann and Tim Flower to managing director.
Eiermann is one of HarbourVest’s longest-serving employees, joining the firm in 1993. During her 20 years with the firm, she has built the portfolio analytics team into one of HarbourVest’s most valuable assets. The portfolio analytics team is responsible for the collection, tracking, benchmarking, and analysis of all investment data, including primary partnership, secondary, and direct investments.
Eiermann joined HarbourVest from Advent International.
Flower joined HarbourVest’s secondary team in London in 2008. He has played a leading role in a number of significant transactions
Commercial law firm CMS Hasche Sigle is closing its Dresden office.
The current head, Dr Helmut Schwarz, is leaving the firm at the end of the year.
Schwarz is joining Hamburg-based partnership CADMUS and will work in both cities in the future.
Dr Hubertus Kolster, managing partner of CMS Hasche Sigle, says: "CMS Hasche Sigle will now focus its strong regional expertise on its Leipzig location. With more than 30 highly-qualified lawyers in our Leipzig office, we have been very active in the region's business world for many years, offering our innovative full-service advice with added international reach."
Asoka Wöhrmann, co-CIO of Deutsche Asset & Wealth Management, on the recent decision of the Federal Reserve to scale back its asset purchases modestly…
The Fed is not rushing for the exit. Monetary policy is likely to remain highly accommodative for a long time.
Based on our forecast of the economy strengthening in 2014, we expect the U.S. Federal Reserve Board (Fed) to scale back asset purchases further and probably end them by the second half of next year. The Fed will not begin raising rates until late 2015 at the earliest.
We don't see a huge move in US
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