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Law firm Proskauer has appointed Lynn Chan as a consultant in the firm’s private investment funds group in Hong Kong.
Her addition extends the firm’s international private equity platform and its footprint in Asia.
“Proskauer remains focused on building out our prominent private equity offering in the region,” says Proskauer chairman Joseph M Leccese. “Lynn’s extensive experience handling complex fund structuring advances our ability to serve the global needs of our clients in the investment fund sector.”
Chan's practice focuses primarily on the structuring and management of private investment funds, acting for both general partners and limited partners.
The venture capital trust sector had total funds under management of GBP2.896bn at 5 October 2013, the highest level since VCTs were established in 1995, according to figures released by the Association of Investment Companies (AIC).
Funds under management increased by GBP19m in the first six months of 2013.
Funds raised as a result of the issue of new shares (including enhanced share buy backs) amounted to GBP94m, whilst GBP121m was returned to shareholders in the form of dividends, with a further GBP39m returned to shareholders through share buy backs (including enhanced share buy backs).
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Nasdaq OMX and Moscow Exchange (MOEX) have a signed a co-operation agreement whereby both exchanges will work jointly in further developing the Russian technology and biotechnology community.
The aim of the co-operation is to jointly facilitate access to capital for the fast growing Russian start-up community and to promote listings at both exchanges.
In 2009 Moscow Exchange and Rusnano created a listing platform for young and promising non-commodity companies called the “Innovations and Investment Market of Moscow Exchange”. Rusnano was set up in 2007 with a mission to develop Russia's nanotechnology industry through co-investing in nanotechnology projects that offer
Private equity firm Pharos Capital Group has hired Brett Jackson as a senior financial analyst in the firm’s Nashville office.
Jackson will be responsible for deal review, financial due diligence and financial modelling. Before coming to Pharos, he was an investment banking analyst at Stephens in Little Rock, Arkansas, where he worked on a variety of mergers and acquisitions and capital markets transactions across multiple industry verticals.
“We are pleased to welcome Brett and we look forward to his becoming an integral part of the Pharos team. We are proud of our ability to offer top calibre young people
Private equity-backed companies are not following best practices when it comes to incentivising and compensating their portfolio chief executives and senior executives, according to research by Chief Executive Group.
While 88.4 per cent of private equity backed companies employ formal annual incentive plans for top portfolio executives, only 68.1 per cent of these private equity backed companies employ formal long-term incentive plans and many of those that do are not competitive with venture capital backed companies and comparably sized public companies.
While base salaries, bonuses and equity incentives are competitive for median CEO and CFO positions, top quartile venture
More than 200 people have registered to attend a Guernsey event in London on 5 November which will examine the EU’s Alternative Investment Fund Managers Directive (AIFMD).
The event, AIFMD: Practical aspects of implementation, is being held at the recently refurbished Rosewood London and will see funds experts consider Guernsey’s dual regime approach to AIFMD, as well as other pertinent issues facing clients and advisers, a little over three months since the Directive came into effect.
These topics will include assessing the most appropriate route to market, portfolio and risk management, private placement bilateral discussions and Guernsey as a
Water Street Healthcare Partners has sold its anatomic pathology company, PLUS Diagnostics, to Miraca Life Sciences.
The deal makes Miraca the largest independent anatomic pathology laboratory company in the US.
Water Street acquired PLUS in 2006 when it was a regional laboratory. It invested its team’s industry expertise and network of resources to transform PLUS into a national leader offering a comprehensive menu of specialty diagnostic testing and consultative services. Working with chief executive David Pauluzzi, Water Street supported PLUS with opening bi-coastal laboratories, introducing innovative new tests and recruiting an experienced team of nationally recognised pathologists. In seven
Private equity firm First Reserve’s Fund XII, in partnership with the existing management team, is to acquire TNT Crane & Rigging from Odyssey Investment Partners.
TNT is a provider of lifting services and equipment to customers in the North American energy and industrial infrastructure end markets.
Financial terms of the transaction have not been disclosed. The transaction is subject to certain regulatory approvals and is expected to close before year-end 2013.
Founded in 1985, TNT operates one of the youngest and, at 439 units, largest mobile crane fleets in the company's served geographies in the Gulf Coast and
CYP Design Ltd (CDL) has completed a seed funding round led by Mercia Fund Management (MFM) under the Seed Enterprise Investment Scheme (SEIS).
CDL is a spin out from the Leicester School of Pharmacy, part of the Faculty of Health and Life Sciences at De Montfort University (DMU). The company was founded to market new technology designed to speed up and reduce the cost of the development of new drugs and medicines.
A leading cancer studies expert at DMU, Professor Bob Chaudhuri, has invented the technology which will provide new products and services, based on a set of proteins,
High Road Capital Partners has completed the acquisition of SMB Machinery Systems, a provider of used packaging and process equipment to the food and beverage industries.
“SMB has grown to become the leading provider of used food and beverage equipment due to the company’s deep product knowledge, comprehensive service offering, and broad inventory,” says Benjamin Schnakenberg, High Road principal. “The company is well positioned to capitalise on the proliferation of specialty beverages in both the US and emerging markets, and bring its know-how and reputation for reliability to new verticals. We look forward to working with SMB’s exceptional management team
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