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Over one in six (16 per cent) people investing in a venture capital trust (VCT) this tax year will be doing so for the first time, according to a study commissioned by Albion Ventures.
The survey shows that almost a third (31 per cent) of advisers predict increased levels of interest among their clients in VCTs this tax year compared to just three per cent who forecast a fall in support.
According to advisers, the top three reasons why their clients are backing VCTs are their ability to generate tax free dividends (20 per cent); they have maximised their
Actis, the pan-emerging markets investor, is to sell its majority shareholding investment in Sterling Hospital, a healthcare provider in Gujarat.
Actis invested in the Indian healthcare chain in 2006. Its goal was to build a high quality regional business providing sophisticated medical services including oncology, neurosurgery and transplant surgery to patients across Gujarat.
Actis is now selling its 82 per cent shareholding to Addlife Investments, a company promoted by Girish Patel, the current chairman of Sterling. Patel will remain as the chairman and continue to build the business and growing its operations in Gujarat and beyond.
Over the period
CVC Capital Partners, through certain of its funds as shareholders of Post Invest Europe, has sold 39,328,287 shares in the Belgian postal group bpost.
The sale represents approximately 19.7 per cent of bpost’s outstanding share capital and substantially all of the holding of the Post Invest Europe in bpost.
The sale was conducted by way of an accelerated bookbuilding. The placing price for investors was EUR14.75 per share. Nomura International and UBS acted as joint bookrunners on the sale. KBC Securities acted as lead manager.
The temporary suspension of the shares of bpost will be lifted.
Morgenthaler Private Equity (MPE) has sold Avtron Aerospace to CapitalWorks, a Midwestern and family-focused private equity firm based in Cleveland, Ohio.
Avtron Aerospace is a designer and manufacturer of electrical, electronic, and hydraulic aircraft component test solutions for the global commercial and military aerospace markets.
The company's products and solutions serve blue chip customers across the entire aerospace supply chain including aircraft manufacturers, aircraft component OEMs, commercial airlines, independent MRO providers, and foreign and US military forces.
Terms of the transaction have not been disclosed.
John Pesec, president and CEO of Avtron Aerospace, says: "I personally want
The wealth advisory business of asset management firm Salient Partners has acquired Houston-based Teton Strategic Investments, to offer selective private equity opportunities to high-net-worth clients.
The acquisition enhances the process around Salient's systematic evaluation and due diligence of PE offerings, and enables the firm to use its existing pipeline to secure new options that fit the needs of its clients.
In addition to vetting the deals for quality, Teton will bring new scale to Salient, granting access to deals that were previously inaccessible to many clients who lacked the millions of dollars required to participate. Now, Salient can pool
Investec Growth & Acquisition Finance has provided a financing facility to support the management buyout of City & County Healthcare Group (C&C), the UK’s fourth largest home care provider.
The facility has been provided to Graphite Capital, a UK mid-market private equity specialist, to underwrite its backing of the MBO from Sovereign Capital Partners.
Investec fully underwrote the finance package pre deal, providing security of funding for Graphite. The Investec team then successfully syndicated two thirds of the financing to HSBC and Lloyds (a third each) highlighting the strength of the credit.
The facility is made up of
Appleby acted as Isle of Man counsel, alongside Dickson Minto in London, to private equity firm Vitruvian Partners in its funding of the management-led buyout of Royal London 360° (RL360°) and its subsidiaries for an undisclosed sum from parent Royal London Group (RLG).
RLG says the transfer of ownership will enable RL360° to achieve its vision through a further acceleration of the growth that RL360° has experienced in recent years.
The RL360° executive management team, led by chief executive David Kneeshaw, will remain unchanged. Following completion, the company will be re-branded RL360°.
The Isle of Man aspects of
Nearly half of financial services professionals (49 per cent) globally do not believe that any regulator has managed to strike the right balance between protecting investors and underpinning growth, according to a survey by Kinetic Partners.
The firms surveyed for Kinetic Partners’ 2014 Global Regulatory Outlook report urged global regulators to coordinate their regulatory efforts.
Overall, fewer than one in five highlighted any single national regulator as having found the right balance between stabilising the financial system, protecting investors, reacting to public opinion and creating a framework for growth.
Only 12 per cent globally believed that the SEC
Hermes CEO Saker Nusseibeh looks forward to 2014…
Looking forward to 2014, we seem to have two reasonably solid foundations on which to build a forecast for the year. The first is that growth in the Anglo Saxon economies, especially the US has come through stronger and more solidly than anticipated by many, as evidenced by the stronger employment numbers in the US and the revision to economic data in the UK. The US economy seems to be well on its way to grow at around 2.75% while the UK economy looks like growing in the twos. In both economies,
SFW Capital Partners has completed its recapitalisation of MD Buyline, a provider of supply chain management solutions for hospitals and healthcare systems.
The proceeds of the recapitalisation were used to fund a significant cash distribution to stockholders.
Following the recapitalisation, MD Buyline remains conservatively capitalised and has the continued support of SFW, its majority shareholder, to actively pursue further strategic growth initiatives.
SFW acquired MD Buyline from its original founders through a newly formed affiliate in early 2011.
“MD Buyline has experienced excellent growth by providing an expanding line of critical strategic information and analytics to health
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