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Money market fund (MMF) regulation proposed by the European Commission on 4 September, if adopted, would have far-reaching implications for the EUR1trn MMF industry and cash investors, according to Fitch Ratings…
Certain aspects of the regulation should make MMFs less risky through enhanced liquidity and diversification, consistent with the practices adopted by conservative funds. As a way to mitigate the risk of investor runs on MMF, the EC also proposes a move to full variable-NAV (VNAV) on most funds. The focus on investor runs is understandable, given the maturity transformation embedded in MMFs and the high level of redemptions historically
DW Healthcare Partners (DWHP), a healthcare-focused private equity firm with offices in Toronto, Ontario and Park City, Utah, has sold portfolio company St Andrews Acquisitions.
St Andrews has been sold to Bregal Partners, a private investment firm that operates as the investment arm for Cofra Holding, a European family holding company. Cain Brothers was retained by St. Andrews to lead the sale process.
St Andrews provides community-based residential and behavioural services and support to adults and children with intellectual and developmental disabilities. DWHP purchased a majority interest in St Andrews six years ago. Through a strategic growth and
Black Diamond Capital Management has acquired TFL, a provider of specialty chemicals for the leather industry.
TFL is the only company providing a full range of solutions to its customers covering every step of the leather production process.
"This transaction allows us to move forward seamlessly to continue to offer our customers first-rate products, solutions and technical support, while at the same time providing us with the opportunity to become the preferred supplier," says Eugen Katzenstein, co-chief executive of TFL. "It also allows us to continue to bring to market new ideas and innovative concepts with our extensive
Hudson Clean Energy has launched its inaugural solar infrastructure investment programme, Hudson Solar Infrastructure Program (HSIP), with closed commitments of up to USD150m.
HSIP will make equity investment in solar photovoltaic (PV) power generation projects worldwide.
HSIP expands Hudson’s clean energy market product offering, which began in 2007 with a growth private equity fund in excess of USD1bn in size.
“Our goal is to provide our investors access to high-quality solar PV projects that generate a steady stream of long-term cash flows at attractive, risk-adjusted yields,” says Daniel von der Schulenburg, Hudson vice president and programme manager
Calastone, the independent cross-border transaction network for the global funds industry, has secured a USD18m round of investment led by Accel Partners with participation from existing investor Octopus Investments.
The investment will be used to accelerate the company’s global growth strategy, with a focus on Asia Pacific and Europe, in addition to expanding its product range.
Calastone was launched in 2007 with the primary objective of significantly reducing the cost and risks associated with mutual fund transaction processing. Calastone’s approach to introducing interoperability for the industry has been to build out a global network, complemented by a wide
Space‐Time Insight, a provider of situational intelligence solutions, has raised USD20m in series C financing to drive the company’s continued expansion in the US and international markets.
London-based private equity fund Zouk Capital joins current investors Opus Capital Ventures, EnerTech Capital, and Novus Energy Partners in this round of financing.
“To make critical decisions, companies worldwide need to analyse huge volumes of data residing in numerous silos across their IT and operational infrastructures in real-time,” says Space-Time Insight chief executive Rob Schilling. “The series C financing enables Space-Time Insight to extend the reach of situational intelligence, fulfilling the needs of those businesses and
Napier Park Global Capital’s financial partners team has held a final closing of Napier Park Railcar Lease Fund, a USD370m specialised, single-purpose private equity fund, with an additional direct co-investment of USD50m from a fund limited partner.
The Railcar Lease Fund has partnered with Trinity Industries, a diversified industrial company that includes as one of its principal businesses the manufacture and leasing of railcars, to create RIV 2013 Rail Holdings, a joint venture to invest in leased railcars.
The fund’s capital, along with a direct co-investment from a fund limited partner and capital from Trinity Industries Leasing Company
Clearlake Capital Group has completed the acquisition of Futuris Automotive from Elders Limited.
The transaction was first announced on 31 July 2013. Clearlake operating advisor and automotive industry veteran Mervin Dunn has joined the Futuris board of directors as co-chairman.
Established in 1967, Futuris Automotive designs, engineers and manufactures seating and interior systems for leading global OEMs. Key automotive solutions include seating systems and hardware, interior products such as door trims, headliners, and floor carpets, and various aftermarket services. Futuris has design and engineering centres in Australia, China and the US and manufacturing facilities in Australia, China, Thailand
Oakley Capital Investments has reported a net asset value of GBP1.95 per share at 30 June 2013, up from GBP1.81 per share as at 31 December 2012, an increase of eight per cent, and up 12 per cent compared 30 June 2012.
Oakley Capital Investments is the AIM-listed company established to provide investors with access to the investment strategy being pursued by Oakley Capital Private Equity.
There were three realisations by the limited partnership in the six months ended 30 June 2013 achieving a gross money multiple for the limited partnership of 3.2x and an IRR of 58.8
Ryan Moss has joined Perella Weinberg Partners as a partner in its advisory business.
Moss will focus on providing strategic and financial advice to clients in the natural resources sector.
Moss joins a growing team of advisory professionals covering the sector globally, including partners Michael Dickman in New York and Bob Maguire in London.
Moss has approximately 12 years of investment banking experience. He was most recently a managing director in Morgan Stanley’s investment banking division in Houston, where he covered midstream and upstream companies, including US super-majors, large cap independents and mid cap independents. While at
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