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With Guernsey’s new opt-in AIFMD equivalent regime effective from 2 January 2014, Fiona Le Poidevin, chief executive of Guernsey Finance, explores how the island offers optionality and substance to fund managers.
There is no escaping from the fact that the EU’s AIFMD presents one of the biggest regulatory challenges the European orientated investment management community has seen in recent times.
Indeed, the upcoming 12 to 18 months will prove pivotal in determining the implementation of the AIFMD and the implications for investment houses and their client bases, particularly as European Economic Area (EEA) member states begin to interpret the
Nordic Capital has closed the Nordic Capital Fund VIII at its hard cap of EUR3.5bn (USD4.8bn).
Investor demand exceeded the fund target by nearly 30 per cent.
The new fund will build on the strategy executed by Nordic Capital’s prior seven funds, investing in mid-market companies with strong market positions and clear growth potential across the Nordic region and Europe.
Healthcare investments will continue to play an important role in the fund’s capital allocation.
As with previous funds, Nordic Capital’s experienced investment team will target control oriented investments, supporting growth in portfolio companies through well-defined investment themes.
Private equity firm Arsenal Capital Partners has acquired Certara, a provider of model-based drug development and data analytics software and consulting services to the biopharmaceutical research and development market.
Certara provides highly specialised and integrated solutions which consist of computer-based models supported by scientific consulting services and which span the discovery, pre-clinical and clinical stages of drug development.
Certara's solutions provide clients with significant reductions in the time and expense of bringing new drugs to market by enabling data-driven decisions which lead to more precisely designed studies with less risk of failure and improved subject safety– a benefit in
Middle market private equity firm Genstar Capital Management has acquired Tecomet, a precision contract manufacturer supporting the medical device and aerospace and defence industries.
The acquisition is in partnership with the company's management. Tecomet was previously a portfolio company of Charlesbank Capital Partners.
Founded in 1964 and based in Wilmington, MA, Tecomet manufactures orthopaedic implants, precision surgical instruments, trauma plates and photochemical etched products for medical device customers. Tecomet uses its prototyping and engineering capabilities to produce highly complex products that provide solutions for its customers' most demanding products and applications. Tecomet is also a leading manufacturer of precision
Omnes Capital has invested EUR1.5m in Cooltech Applications, a specialist in magnetic refrigeration.
Omnes Capital is Cooltech’s third new investor in 2013, following investments by Demeter Partners and 123Venture.
Cooltech Applications is the first company in the world to offer economical, industrial and environment-friendly refrigeration and air-conditioning solutions, based on magnetic cold technology.
Magnetic cold is presented as the most credible alternative to existing compression based refrigeration technologies by the American Department of Energy and the European Commission.
“Magnetic cold developed by our company imposes itself as the solution that meets the needs of both the industry
Energy-focused private equity firm First Reserve’s Fund XII has acquired Dixie Electric from One Rock Capital Partners, a private investment company that provides equity capital for middle-market businesses.
Dixie is a US provider of electrical infrastructure materials and services to the upstream oil and gas sector. Financial terms of the transaction have not been disclosed.
Founded in 1951, Dixie provides electrical infrastructure and automation services from initial development throughout the life of an oilfield, including ongoing infrastructure upgrades and periodic maintenance. Further, the company has exposure to several important upstream trends with significant electrical requirements such as automation, artificial
European Capital and its consolidated subsidiaries have received proceeds of EUR25.5m from exiting their investment in Biscuits Poult.
European Capital's exit comes as Poult sold 100 per cent of its Polish subsidiary (Dr Gerard) to Bridgepoint and used related disposal proceeds to prepay in full the acquisition facilities put in place in 2006 to support LBO France's secondary buyout of the Company.
At that time, European Capital invested EUR12.5m in the mezzanine and second lien facilities. In December 2012, it acquired EUR7.5m additional senior and second lien facilities on the secondary market. This repayment allowed European Capital to realise
AkzoNobel has agreed the sale of 69 of its 72 specialist paint stores to five independent wholesalers and their subsidiaries.
Some of the stores and employees will transfer to the new owners (Schlau Hammer, MEG Rhein Ruhr, MEG Paderborn, MEG West and Wei-gel) at the end of 2013 and some at the end of the first quarter of 2014. The purchase price was not disclosed.
A CMS team led by employment law partner Dr Angela Emmert and corporate partner Dr Ernst-Markus Schuberth advised AkzoNobel on all legal aspects of the transaction.
The divestment and focus on the firm's
The final terms of reference for the financial system inquiry released by the Australian Government confirm how important this review will be to improving the competitiveness of the Australian economy in the future, according to the Australian Private Equity and Venture Capital Association Limited (AVCAL).
“The government has clearly made this inquiry an urgent economic priority, which is absolutely the right thing to do,” says AVCAL’s chief executive officer Yasser El-Ansary.
“It’s been a long time since the last comprehensive review into financial services, and a lot has changed in the 15 or so years since the Wallis Inquiry,
Important concessions by the UK Treasury in relation to the Alternative Investment Fund Managers Directive (AIFMD) have been announced, according to specialist financial services regulatory consultancy Bovill.
Deadlines surrounding AIFMD will be relaxed, following concerns by the financial services sector that many fund managers would need to shut up shop if they did not file their AIFMD application by 22 January.
The concession announced today will mean that if an AIFM’s application for authorisation or registration is filed after 22 January they can still trade. However, the 22 July deadline for authorisation or registration still remains in place.
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