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Michelle Carroll (pictured), Partner of the Financial Services Group at BDO, comments on the IMA issuing a public consultation on fund charges…
We welcome the proposed changes by the Investment Management Association (IMA) to the disclosure of investment fund charges and believe this will lead to greater transparency and investors confidence.
However, this will lead to greater costs for investment managers in collating this data and with a new SORP predicted around the same time, is this the right moment to implement the new SORP and add more burden to investment managers with the current accounting and regulatory changes?
Grosvenor Capital Management, one of the world’s largest discretionary allocators to hedge funds, is to acquire the Customized Fund Investment Group (CFIG), a private equity, infrastructure and real estate investment management company, from Credit Suisse Group.
CFIG is one of the largest providers of customised private equity solutions globally with approximately USD18bn of assets under management and 11 offices around the world.
Following the completion of the transaction, CFIG will be renamed the GCM Customized Fund Investment Group. Terms of the transaction were not disclosed.
"This transaction makes each firm a more valuable partner for existing
Investcorp has agreed to acquire Tyrrells Potato Crisps, the manufacturer of premium crisps and snacks, from Langholm Capital for GBP100m.
Founded at Tyrrells Court Farm, Herefordshire, in 2002, Tyrrells is recognised for its tasty hand cooked potato and vegetable crisps as well as a range of premium snacks, including popcorn and savoury nibbles. Available across an array of UK distribution channels, Tyrrells has also expanded internationally, with markets such as Germany, France, the Netherlands and North America today accounting for approximately 20 per cent of group turnover. The company employs 270 people and generates in excess of GBP100m in
HgCapital, the European sector focused private equity investor, has acquired Nair & Co.
Nair & Co provides a tailored solution for fast growing companies that are looking to expand into international markets, but do not have the technical or administrative expertise to do so. Nair & Co sets up the required international entities and integrates legal, accounting, payroll, tax and human resources services to ease the process of international expansion.
Nair & Co is headquartered in Bristol, UK, with 450 employees based in offices in India, the US, Singapore, Japan and China.
HgCapital’s services team has previously
LexisNexis has boosted its asset manager and wealth management intelligence offering through an extended content agreement with market leader Global Fund Media (GFM).
GFM is the largest online news publisher serving institutional investors and wealth managers with daily news and information on all mainstream and alternative asset classes covering: institutional investors/pension funds and their managed funds/investment managers; hedge funds and institutional investors; property funds and institutional investors; private equity funds and institutional investors; exchange-traded funds and institutional investors; private client/wealth managers, family offices, trustees and their investment advisors; and fund performance and comparison tables for institutional funds.
Oliver
Early-stage venture capital firm Blumberg Capital, seed investor and largest institutional shareholder in HootSuite, has realised a 52x return on its investment in the social media management specialist in just four years.
Blumberg Capital and Hearst Ventures led the original seed round financing of HootSuite in December 2009 and a subsequent financing in 2011. Blumberg Capital has been the largest institutional shareholder in HootSuite until today’s Series B funding.
HootSuite has announced a USD165m Series B financing, led by Insight Venture Partners with participation from Accel Partners and existing investor OMERS Ventures.
"I congratulate Blumberg Capital on
Rock Hill Capital Group, a Houston-based private equity firm, has held the final closing of Rock Hill Capital II with USD87.7m in capital commitments.
Fund II is the successor fund to Rock Hill Capital I and continues a similar investment strategy.
“We are pleased to report a successful close to our second fund,” says Randy Hale, Rock Hill’s founder and managing director. “We appreciate the confidence of our Fund I investors who recommitted to invest with us and are pleased by the significant number of new investors who joined us as limited partners for Fund II. We look
Spain’s AENA, the world’s largest airports operator with some 200 million passengers a year, has agreed to acquire London Luton Airport, the UK’s fifth largest airport in terms of passengers, in association with the infrastructure fund of AXA Private Equity.
The consortium, in which AENA has a 51 per cent stake and AXA Private Equity 49 per cent, will pay TBI Limited GBP394.4m for the London Luton airport concession.
TBI is owned jointly by Abertis Infraestructuras with a 90 per cent shareholding, and by AENA, with a 10 per cent shareholding. The transaction is subject to the authorisation of
In May 2013 Tannenbaum Helpern Syracuse & Hirschtritt held its inaugural executive roundtable focusing on the private equity industry.
The goal of the roundtable is to provide informative and strategic insight into emerging challenges so that private equity firms can best prepare for and manage legal exposure and risks.
These roundtables are limited in size to ensure quality and are only open to those who operate in the industry.
The first roundtable covered private equity issues in the compliance, regulatory, transaction and litigation areas.
In the last several years, there has been an increase of regulatory
Private equity firm Arsenal Capital Partners has completed the acquisition of ADCO Global, a provider of specialty sealants, tapes and adhesives, and merged the company with its adhesives and secants platform investment, Royal Adhesives and Sealants.
ADCO Global supplies specialty adhesives, sealants, tapes and coatings serving construction, transportation and industrial markets throughout the world via its operating subsidiaries ADCO Products in North America and Kommerling Chemiche Fabrik in Europe, Africa and Asia.
Tim Zappala, a partner at Arsenal Capital Partners and co-head of the firm’s specialty industrials group, says: "ADCO Global is a well managed business that fits
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