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Institutional investors across the world are most concerned about tail risk and rising interest rates as they begin to position their portfolios for the end of ultra-loose monetary policy in developed markets.
That is one of the key findings from Allianz Global Investors’ survey of nearly 400 senior decision makers at institutional investors from 41 countries around the world.
While only a minority of respondents expect interest rates to rise towards their long-term historical averages before 2015, rising interest rates and tail risk are seen as most prevalent economic risk factors affecting investment performance over the next three
Business and financial adviser Grant Thornton UK has recorded its fourth successive year of strong performance, with turnover up 13 per cent to GBP471m for the financial year ended 30 June 2013.
The predominantly organic growth comes on the back of double digit performance in the previous year and puts Grant Thornton well in reach of achieving its Ambition 2015 revenue target of GBP500m one year early.
This growth was driven in large part by continued strengthening of the advisory practice, which grew by 21.2 per cent. The firm also saw its audit practice improve by 9.2 per
Silicon Valley Bank has appointed Nooman Haque as director of life science in the UK.
The new position and Haque’s expertise will strengthen support for the life science and healthcare sectors in the UK and improve collaboration with businesses and investors across borders.
Haque’s background is in healthcare and financial services, having most recently worked for London based venture capital firm Committed Capital. Prior to that, he worked for Sanabil Investments, leading the investment team with a focus on healthcare and financial services.
Over the course of his career, Haque has been involved in USD700m worth of
Terry Hunter, chief executive of Tryzens, and his senior management team have completed the acquisition of the digital solutions provider from its parent company Jaywing with backing from Scottish Equity Partners (SEP).
UK-based Tryzens, which also has offices in Bulgaria and India, is one of Europe’s leading providers of digital retail solutions. The company provides technology around digital design, development, delivery, integration and strategy. Tryzens helps businesses increase sales, enhance customer experience, ensure site performance and stay ahead of competitors.
The company has over 200 staff and blue-chip clients including Dunelm Mill, JD Sports Fashion Group, Tesco, Austin
A consortium of the Russian Direct Investment Fund (RDIF), Titan International and One Equity Partners have completed the acquisition of Russian agricultural and industrial tyre manufacturer OJSC Voltyre-Prom from Cordiant.
Under Cordiant’s management OJSC Voltyre-Prom has developed its production base, updating production processes through the introduction of new technology and establishing quality control procedures. This has underpinned the expansion of the company’s product portfolio and streamlined business operations.
Titan International plans further modernization at Voltyre-Prom to allow further growth in the production of tires for international and domestic modern agricultural machinery. This will reduce Russia’s reliance on imports
As private equity becomes more popular, investors are demanding many of the same things from their alternative investments that they have come to expect from their traditional funds, according to research by State Street.
More than half of the private equity managers interviewed in Europe (56 per cent) reported investor demand for greater transparency into risk and fund performance as a top driver of change, compared to 49 per cent globally and 43 per cent in North America.
Some 31 per cent of private equity managers in Europe cited investor demand for liquidity at the fund level as
MongoDB has secured USD150m in financing led by a financial services company and certain funds and accounts advised by T Rowe Price Associates, with additional new investors Altimeter Capital and salesforce.com.
The round includes participation from existing investors Intel Capital, NEA, Red Hat and Sequoia Capital.
With more than USD231m in total investment since the company’s inception in 2007, MongoDB is now the best-funded Big Data technology. MongoDB’s financing marks the largest single funding round for any database vendor, NoSQL or otherwise.
The company will use these funds to further invest in the core MongoDB project as
Perella Weinberg Partners has appointed Cem Koray as a managing director in its advisory business.
Based in New York, Koray will work closely with partner Joseph Gatto, providing strategic and financial advice to clients in the consumer products and retail sectors.
Koray has more than 10 years of investment banking experience in London and New York. He was most recently an executive director in JP Morgan’s consumer and retail investment banking group, where he advised a broad range of consumer products clients. During his tenure at JP Morgan, Koray advised on a number of notable transactions, including Altria
Glynn Barwick (pictured), regulatory lawyer and counsel for Goodwin Procter LLP’s Financial Services Practice in London, comments on the ESMA’s final guidelines for AIFM reporting requirements…
On 1 October 2013 ESMA published a press release titled "ESMA clarifies reporting requirements for Alternative Fund Managers " to accompany its final guidelines report on the reporting obligations for AIFMs under the AIFM Directive. In fact, in one critical area the final guidelines are far from clear. This is the section which relates to the transitional period.
ESMA had previously suggested that managers exempt during the transitional period should still be required to report
Jarden Corporation has completed its acquisition of Yankee Candle Investments from a fund managed by Madison Dearborn Partners for approximately USD1.75bn in cash.
Pro forma for the transaction, Jarden would have had net sales and adjusted EBITDA of approximately USD7.7bn and USD1.0bn, respectively, for the 12 months ended 30 June 2013.
Jarden also closed today on its incremental USD750m senior secured term loan B-1 facility, which matures in 2020.
Jarden funded the transaction with the proceeds from its recently completed common stock offering, proceeds from the aforementioned term loan, and cash on hand.
Martin E Franklin,
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