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In the first half of 2013, 17 Israeli private equity deals attracted USD939m, a decrease of 48 per cent from USD1.8bn attracted in 26 deals in H1/2012, according to the latest quarterly survey by IVC and GKH.
The largest transaction was the USD500m buyout of tire manufacturer Alliance Tire Company by KKR, a foreign private equity fund. The average deal in H1/2013 was valued at USD55m, compared to USD69m in H1/2012.
In Q2/2013, nine Israeli private equity transactions were valued at USD722m, compared with just USD217m invested in eight deals in Q1/2013. Second quarter activity, however, was down
Experience, expertise, ‘fast track’ regulatory routes, listing capabilities and a dual regime for AIFMD are just some of the reasons why leading global private equity houses, such as HarbourVest, are continuing to choose Guernsey as their fund domicile, reports Fiona Le Poidevin (pictured), Chief Executive of Guernsey Finance.
An exit poll of the 400-plus delegates attending May’s Guernsey Funds Forum 2013 held in London revealed that they believed the future landscape of the investment funds industry will be affected by ‘external factors’, just as much as regulation.
The half-day conference and exhibition, titled ‘Back to the Future’, included two panel
The Cayman Islands has now signed memoranda of understanding (MOUs) with 25 European countries, which will enable the continued marketing of Cayman Islands hedge funds throughout the European Union.
Cindy Scotland, managing director of the Cayman Islands Monetary Authority (CIMA), has signed the MOUs on behalf of the Authority. On 22 May 2013, her counterparts from the following financial authorities – members if the European Securities and Markets Authority (ESMA) – signed the MOUs:
Autoriteit Financiële Markten (The Netherlands);
Autorité des marchés financiers (France);
Financial Services and Markets Authority (Belgium);
Central Bank of Ireland (Ireland);
Comissão do Mercado de
The Guernsey Financial Services Commission (GFSC) has signed bilateral cooperation agreements with 27 securities regulators from the European Union and the wider European Economic Area, including the UK, France and Germany.
The cooperation agreements provide a set of arrangements for the on-going supervision of alternative investment funds, including hedge funds, private equity and real estate funds. They are applicable from 22 July 2013, which is the deadline for EU countries to transpose the provisions of the Alternative Investment Fund Managers Directive (AIFMD) into national law.
AIFMD seeks to regulate EU-based Alternative Investment Fund Managers (AIFMs), managers of EU-established
Kinetic Partners, an adviser to the financial services industry, has appointed Gary Ashford as a member within the firm’s global tax team.
This new appointment further enhances Kinetic Partners’ capabilities across the alternative investment tax spectrum, while also creating a new area of expertise within the practice.
As an expert in offshore tax risk and investigation matters, Ashford (pictured) will assist clients, financial institutions and fiduciary companies in relation to the various FATCA intergovernmental agreements, global transparency and voluntary tax disclosure facility industry, the Liechtenstein Disclosure Facility, the Swiss/UK tax agreement and general asset preservation.
Ashford joins
Enterprise file sharing and sync (EFSS) and mobility vendor Vaultize has secured a venture capital investment from Tata Capital Innovations Fund.
The funding will help the company scale up its go-to-market strategy, including expansion across the world, with immediate plans to establish operations in the US and Europe in conjunction with channel partners.
The company will also use the funds towards building its best of breed sales, marketing and engineering teams, and to enhance its global partner programme.
As enterprises across the world are impacted by data loss, security and compliance risks, because of proliferation of consumer file
The Russian Direct Investment Fund (RDIF) has appointed three new members to its international advisory board.
The three new members are Gao Xiqing (pictured), president of the China Investment Corporation (CIC); Khaldoon Khalifa al-Mubarak, chief executive of Mubadala Development Company; and Ahmad Mohamed Al-Sayed, chief executive of Qatar Investment Authority.
Immediately prior to his post, Xiqing served as deputy chairman of the National Council for the Social Security Fund. He also worked as deputy chairman at the China Securities Regulatory Commission, and general counsel and the director general of the Public Offering Supervision Department. In the 1990s, he
Addepar, a provider of smart technology platforms for wealth and investment management, has appointed Eric Poirier as chief executive officer and Karen White as president and chief operating officer.
Addepar co-founder Joe Lonsdale continues to serve in his current role as executive chairman of the board, and co-founder Jason Mirra continues as chief technical officer. Mike Paulus, who was among Addepar’s first employees and served as president, is now the company’s chief strategy officer.
Poirier (pictured) and White have both been appointed to the company’s board of directors.
“Addepar’s success over the last few years has positioned
Alter Domus is launching two new initiates in Luxembourg following the ratification of the Alternative Investment Fund Managers Directive (AIFMD) in the Grand Duchy.
As previously announced, the firm is launching new depositary services and has already submitted its application to the CSSF.
It is also bringing international knowledge to the Luxembourg marketplace with the launch of a dedicated team of experts for Sociétés en Commandite Spéciale, the new limited partnership comparable to US/UK style limited partnerships.
Those two initiatives have been prepared in the view of the Bill of Law N°6471 which was adopted by the
Palatine Private Equity, the Manchester based regional private equity firm, has held the final close of its second fund at its hard cap of GBP150m, with 55 per cent of commitments coming from overseas investors.
Fund II consists of GBP100m from existing investors and GBP50m from new investors. New investors include GE Pension Trust (US), Nippon Life (Japan), a large German based insurance company and a family office based in London.
Palatine is looking to invest between GBP10m and GBP25m of equity in regional lower mid-market deals. The firm will continue to focus on providing a hands-on partner-led
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