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HIG Capital’s Brazilian affiliate has completed a strategic investment in Creme Mel Sorvetes, a Brazilian ice cream company.
Headquartered in Goiás, Creme Mel is the largest ice cream producer in the Mid-West of Brazil. The company has over 900 employees and sells ice cream in nine Brazilian states.
HIG’s investment will allow Creme Mel to expand its production capacity with the construction of a new plant and will provide capital for a faster expansion throughout Brazil.
“We are very excited to have HIG as a partner. Their ability and experience in helping companies grow all over the
New York-based private equity firm Blue Wolf Capital Partners has closed on USD300m in limited partner equity commitments for its latest fund, Blue Wolf Capital Fund III.
The fund’s investors, which are primarily located in the US and Europe, include foundations, endowments, fund of funds and public, corporate, and Taft-Hartley pension funds.
The fund was oversubscribed relative to its hard cap of USD300m. Blue Wolf now manages over USD460m in capital and capital commitments.
Through Fund III, Blue Wolf will continue to execute its strategy of taking control stakes in middle market companies based in the US and
The much anticipated Alternative Investment Fund Managers Directive enters into force on 22 July 2013. GFM’s comprehensive AIFMD Implementation Guide outlines the regulatory position in key alternative investment fund domiciles – the British Virgin Islands, Cayman Islands, Guernsey, Ireland, Jersey and Malta and also examines key issues such as depositary and compliance requirements.
This AIFMD Implementation Guide was produced with the support and specialist expertise from the following:
– Deutsche Bank
– BDO
– Harneys
– Dillon Eustace
– Volaw Trust & Corporate Services
– Guernsey Finance
– Malta Financial Services Authority
Click here to download your copy of the
The role of the depositary is set to become an integral part of how offshore hedge funds operate in Europe under the AIFM Directive, which will be transposed into law on 22 July 2013. Never before have Cayman-based hedge fund managers had to think about using depositaries.
Under the Directive, though, the depositary’s role with any given AIF will be much higher profile. It will be held liable for the loss of any financial instruments held with third-party sub-custody accounts.
What this means is that the depositary will become more important in the terms of the AIF manager’s decision making
The imminent arrival of the EU-wide AIFM Directive is set to shake up the apple cart somewhat, in terms of how hedge fund managers approach internal governance. Many London-based managers are, of course, perfectly comfortable with their compliance obligations under the FCA (formerly FSA).
And whilst the Directive, on face value, should not require managers to make wholesale changes internally, it will present a more nuanced challenge. In effect, AIF managers will need to approach the way they run their AIFMD-compliant firms almost as if they were UCITS managers because this is the filter through which the FCA will likely
By Philip Graham (pictured), Harneys – The British Virgin Islands (BVI) is the world’s second largest domicile of offshore investment funds and a leading international finan
By Matt Mulry (pictured), Dillon Eustace – The Directive on Alternative Investment Fund Managers (Directive 2011/ 61/EU (“AIFMD”)) and its supplementary regulation will from 22 July 2013 introduce an authorisation regime for the marketing and management of alternative investment funds (“AIFs”) within the European Union (“EU”). Following 22 July 2013 a manager which is established outside the EU and which manages an AIF established in Cayman may only market that AIF into the EU in certain limited circumstances.
An AIF under the AIFMD is defined very broadly as any collective investment undertaking established anywhere in the world that (a) is
By Fiona Le Poidevin (pictured), Guernsey Finance – In July 2013 the global economy is continuing to throw up significant events but these are nothing in comparison with what we s
By Jennifer Fox, Dillon Eustace – The EU Alternative Investment Fund Managers Directive (2011/61/EC) (“AIFMD” or “the Directive”) will be transposed into Irish legislation by implementing regulations and will come into effect on 22 July, 2013.
In Ireland the implementation of AIFMD is grounded not only on the Directive and on the European Commission Delegated Regulation of 19 December, 2012 (the “Level 2 Regulations”), but also on the long established regulatory framework in place for alternative investment funds. In this regard, Ireland services over 40% of all alternative fund assets with Irish domiciled funds now representing over EUR277 billion in
By Ashley Le Feuvre, Volaw Fund Services Group – After a lengthy period of negotiation and development the European Union’s (the “EU”) Alternative Investment Fund Managers Directive (“AIFMD” or the “Directive”) finally comes into force on 22 July 2013. Following implementation and in order to continue marketing their funds to European investors, managers (“AIFMs”) of European domiciled investment funds must fully comply with the Directive.
Managers with funds domiciled in countries such as Jersey, which are defined in the Directive as “third countries” will, subject to certain conditions, continue being able to market their non-EU funds to European investors under
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