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Investors are leading the way in shaping the future of the alternative investment industry, according to a soon to be published global survey by State Street.
The survey canvassed the opinions of 400 alternative fund managers from hedge funds, private equity firms and real estate funds.
“The Next Alternative: Thriving in a New Fund Environment” finds that fund managers see investor demands for greater transparency, more favourable fees and greater liquidity at the fund level as three of the top five drivers of change over the next five years.
“Alternative asset managers that want to create a
IK Investment Partners’ IK2007 Fund has agreed to sell Hansa Metallwerke AG, a Germany-based supplier of sanitary fittings, to Oras Group.
The transaction is expected to close by the end of September 2013.
Hansa is a market leader for bathrooms and kitchen sanitary fittings in Germany and Austria and a reputable manufacturer of high quality, environment friendly and innovative products. During almost three years of IK ownership, management and IK have expanded Hansa internationally and improved its competitive position through focus on its core competencies, restructuring its product portfolio as well as optimising manufacturing and material costs.
Convergence, a provider of data, tools and models to asset managers, investors and service providers, has launched a new website – www.convergencellc.us.
Convergence was formed to work with alternative and traditional asset managers to achieve optimal performance across their infrastructure platform.
The firm’s management team has significant experience implementing highly efficient infrastructure at a number of leading asset managers. Convergence uses proprietary benchmark data, combined with analytical tools and models to identify opportunities to reduce management company and fund expenses, and also has an advisory and solutions practice which can develop, implement and manage flexible service models including
Altius Associates has appointed Peter Pfister as a partner and head of Asia-Pacific.
He will be based in the firm’s Singapore office, reporting to Brad Young, head of investments.
Young says: “We are very pleased to have secured Peter, an experienced and knowledgeable investment professional, with many years’ experience in global private markets to lead our Asian Investment business. His experience in the Asian private equity sector, and his knowledge of buyout, venture and growth capital in the region made him an ideal candidate for this important role. We looked long and hard for a leader to fit
Detroit-based Rockbridge Growth Equity has acquired Rapid Financial Services, a Bethesda, Maryland-based provider of capital for small businesses.
RapidAdvance has created a technology-powered platform that underwrites small business loans and advances, providing its customers with capital quickly and efficiently. The company has opened up the market for capital to small businesses through its web-enabled system.
"RapidAdvance’s product innovation, data driven ‘best-in-class’ underwriting, customer-first approach and talented team are a great addition to our family of companies. We will provide all the necessary resources to accelerate its growth," says Kevin Prokop, managing director, Rockbridge Growth Equity. "We are excited
BNP Paribas has made several key appointments to strengthen its Securities Services franchise in Asia Pacific as it continues its expansion in the region.
Mostapha Tahiri has been promoted to the head of BNP Paribas Securities Services Singapore, replacing Arnaud Claudon who has been promoted to the newly created role of global head of Depotbank and Fiduciary Services based in Paris.
Tahiri joined the Singapore office in 2009 as the head of asset and fund services for Asia and has been at the forefront of the bank’s drive to grow the business in the region. He will
Riverside Partners, a Boston-based private equity firm, has completed its acquisition of a majority equity interest in AMCAD, an enterprise software company dedicated to providing software solutions and services to the public sector including state, county and local governments.
The terms of the transaction have not been disclosed.
Based in Herndon, Virginia, AMCAD provides software solutions to the broader government system including courts, jails, prosecutors, probation, parole, county clerks, recorders offices, and other government offices. AMCAD has over 25 years of history of operating within the state and local government markets. The company’s current offerings include its integrated
Brynwood Partners VI’s newly-formed portfolio company Lightlife Foods has acquired Lightlife, one of ConAgra Foods’ smaller brands.
Product lines include vegetarian-based burgers, hotdogs and other meatless frozen and refrigerated items.
The acquisition includes the Lightlife manufacturing operation in Turners Falls, Massachusetts. Terms and conditions of the transaction were not disclosed.
Lightlife Foods will be headquartered in the Boston, MA area and its manufacturing facility will continue to be located in Turners Falls, MA.
As part of this transaction, Brynwood VI has appointed Roy Lubetkin as president and chief executive and Michael Morin as chief financial officer
Mid-market private equity provider LDC has invested to support the management buyout of Equiom Limited, a provider of fiduciary and administration services.
Headquartered in the Isle of Man, Equiom is a trust and corporate service specialist. The business provides a range of fiduciary, administration and management services across a variety of asset classes to a diverse customer base that incorporates large corporates as well as high net worth individuals.
In addition to its core trustee and company services, which account for 70 per cent of its business, Equiom operates niche business lines including yachting, aviation and e-Gaming.
Chemicals group Novacap, which is majority owned by Axa Private Equity, has agreed to acquire a majority stake in Taixing Yangzi Pharm Chemical.
Yangzi is located in Taixing Economic Development Zone, near Shanghai, and is one of the leading Chinese producers of Para-Amino-Phenol (PAP), a chemical intermediate mainly used for the production of paracetamol.
During 2010 and 2011, Yangzi updated its technology from iron reduction to catalytic hydrogenation and its products are widely recognised in the pharmaceutical industry as the benchmark in terms of quality and purity. In 2012, Yangzi employed 375 employees and recorded EUR71m of sales.
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