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Evidence shows that Guernsey continues to meet the demands of both private equity managers and their investor base, writes Guernsey Finance chief executive Fiona Le Poidevin (pictured)…
Guernsey’s pedigree as a leading funds domicile relies on its ability to continually meet the demands of fund managers and their investor base. Figures to the end of June 2013 show that the value of funds under management and administration in Guernsey reached GBP286 billion (USD457 million; EUR338 million) – an increase of 5.6 per cent on a year previous – with private equity comprising more than GBP87 billion. Indeed, global private equity
Applied Systems, a provider of software that powers the business of insurance, is to be acquired by investment funds advised by Hellman & Friedman.
The company is being acquired from the global private investment firm Bain Capital in a transaction valued at approximately USD1.8bn.
JMI Equity, a growth-oriented private equity firm that focuses on building software and technology-enabled services businesses, will be investing alongside H&F and, under the terms of the agreement, members of Applied Systems’ senior management will continue to maintain a significant ownership position in the company.
Applied Systems is a provider of insurance software and
Odyssey Investment Partners is to sell its portfolio company BarrierSafe Solutions International, a provider of branded disposable gloves and injection moulded protective footwear, to Ansell.
Based in Lake Forest, Illinois, BarrierSafe has two flagship brands, Microflex and Onguard.
Odyssey acquired BarrierSafe in 2011 and completed two strategic add-on acquisitions during its ownership.
Randy Paulson, a managing principal of Odyssey, says: “We are proud of BarrierSafe's accomplishments under our ownership. As a result of BarrierSafe’s strong market position and significant business momentum, the company has attracted the interest of one of the world's leading PPE manufacturers and we believe
Private equity firm TA Associates has completed a majority investment in Accruent, a provider of real estate and facilities management software solutions.
Existing investor Vista Equity Partners will retain a significant ownership position. Additional terms of the investment were not disclosed.
Since 1995, Accruent has offered a facilities and real estate management system that delivers operational and financial performance for its customers. The company provides market planning, site selection, project management, lease administration, facilities and space management software that is purpose-built for specific industries to deliver greater customer value.
“Our four-year partnership with Vista Equity Partners allowed us to
R Capital Management, a subsidiary of the Rothschild group, is becoming independent under the name Keensight Capital.
The Keensight Capital team, led by Jean-Michel Beghin, Jérôme Pujol and Pierre Rémy, will execute the same strategy it has pursued over the past ten years and will continue helping entrepreneurs to implement their growth strategies.
Since its creation 15 years ago, the team has invested in 35 companies and carried out 25 exits.
Keensight Capital’s team works closely with managers on the development and execution of their growth strategies. The team is particularly well-recognised for its knowledge in the following
Pixium Vision, a developer of retinal implant systems that aim to restore vision in the blind, has closed a EUR15m series A extension financing led by Sofinnova Partners, which becomes the largest investor.
Bpifrance, through the InnoBio fund, and existing series A investors Omnes Capital and Abingworth also participated.
In conjunction with the financing, Antoine Papiernik at Sofinnova Partners and Chahra Louafi at Bpifrance have joined the Pixium board of directors.
Pixium was co-founded by Dr Bernard Gilly and Prof José-Alain Sahel in November 2011 and built upon a close relationship with the Vision Institute at the National
The financial services industry is failing to adopt voluntary standards crucial to rebuilding trust in banking, despite overwhelming support from those working in the sector, according to a report.
Backing Market Forces, a report jointly commissioned by BSI, the UK National Standards Body, and the Chartered Institute for Securities & Investment (CISI), the professional body for securities and investment practitioners, argues that adopting voluntary standards, alongside regulation, could provide a third way between self-regulation and over regulation from government.
The study analysed how voluntary standards could play a greater role in rebuilding a safer and more trusted financial services
Vista Equity Partners has completed its acquisition of Omnitracs, formerly a subsidiary of Qualcomm.
In conjunction with this announcement, Omnitracs has signed a definitive agreement to acquire Roadnet Technologies, a provider of fleet management software solutions for private fleets.
Roadnet, based in Baltimore, Maryland, is a provider of routing, scheduling, optimization and mobile resource management software solutions in the US and internationally. Roadnet's fleet management platform enables its customers to solve complex transportation problems in a simple manner.
"Roadnet is excited to become part of the Omnitracs and Vista family. Our solutions are very complementary and together we
GGM Venture Capital, though its sub-fund GGM High Growth IT Fund, has invested a total of EUR1.40m series A investment into Optimitive.
The round was led by GGM Venture Capital and joined by SURGE Accelerator. Optimitive graduated from the SURGE Accelerator programme in May 2013.
Founded in Spain in 2008, Optimitive provides a real time energy saving service through its software and services that allows large industrial companies to permanently and significantly reduce energy or raw material input costs and to lower CO2 emissions.
The capital raised will be used to accelerate the company's vision and commercially roll-out
Silk Road Capital assesses the implications of Iran’s nuclear deal with the West…
Landmark Deal. Iran and world powers have reached an agreement that freezes key parts of Iran’s nuclear activities in return for about USD7bn worth temporary sanctions relief. The hard-fought deal, the first such agreement in 10 years, has broken a long-lasting diplomatic gridlock between Iran and the West. The six month agreement commits Iran to curb key activities of its nuclear program, in particular to halt enrichment above 5%, and neutralise its stockpile of near-20% uranium; to halt progress on its enrichment capacity (including no installing additional centrifuges
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