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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
The Luxembourg Parliament has adopted the law transposing the Alternative Investment Fund Manager Directive (AIFMD) into Luxembourg law.
Marc Saluzzi (pictured), chairman of ALFI, says: “With the legislative process now complete, the regulated alternative investment fund industry in Luxembourg is ready to take off.
“AIFMD pushed the alternative fund management industry towards a model which is based on the compromise of more regulation in exchange for a passport. This is the same as the UCITS model which we know so well in Luxembourg, and, combined with the fact that we already have a well-established ‘alternatives’ industry, the law
Evercore intends to expand its global investment banking platform by establishing a private capital advisory (PCA) business focused on secondary transactions for private funds interests.
This initiative expands the services that Evercore offers to institutional investors and fund sponsors, and complements the capital raising advisory services provided by Evercore’s private funds group and the strategic and merger advisory services offered by Evercore’s advisory business.
Nigel Dawn and Nicolas Lanel have agreed to join Evercore to lead the business. Dawn will run PCA globally while Lanel will head up the European operation.
Dawn, who was most recently managing
Stonehaven, a placement agent focused on hedge funds, private equity, real estate, venture capital, private placements and long-only strategies, has added two key personnel to its senior team.
Mark Sullivan, as a managing director and partner, and will work closely with Stonehaven’s chief executive to spearhead origination and ongoing management of mandates while also playing a senior management role.
Igor Gourari has also joined the Stonehaven team as the firm’s controller. He will spearhead all financial and accounting functions within the firm while also playing a senior operations role.
The expansion of Stonehaven’s management and operations team
HarbourVest Partners has held the final close of Dover Street VIII, a global secondary fund, at USD3.6bn.
The fund closed above its USD3bn target and was oversubscribed. HarbourVest’s prior secondary-focused fund, Dover Street VII, was a USD2.9bn fund.
Dover VIII will make secondary investments in venture capital, leveraged buyout, and other private equity assets, as well as portfolios of operating companies, manager spin-outs, and structured transactions. The investors in Dover VIII include a broad array of institutions such as corporate pensions, public pensions, endowments, Taft Hartley plans, and foundations from around the globe.
Throughout its 27-year history as
BV Investment Partners has completed a recapitalisation of The Efficient Collaborative Retail Marketing Company (ECRM), an integrated marketing services, software and data provider serving consumer product manufacturers and retailers.
The investment in ECRM will make BV the majority shareholder and is being done in partnership with ECRM’s founding family and Greg Farrar, the incoming chief executive.
ECRM was founded in 1994 and is headquartered in Solon, Ohio. ECRM lends efficiency to the buying and selling process between consumer product manufacturers and retailers by operating a portfolio of highly focused, technology-enabled purchasing events. These events are enabled by ECRM’s proprietary, mobile-optimised
Markit has launched Markit Portfolio Valuations – Private Equity, a new independent valuation service for investors in private, unlisted companies. The service includes the provision of valuations for equity investments in growth and buy-out stage companies.
Markit Portfolio Valuations – Private Equity is designed to satisfy the statutory and policy requirements of investors, regulators and business managers for independent calculation of prices for input into net asset valuations and other key portfolio metrics. The service is aimed at limited partners, banks and fund administrators as well as alternative asset managers, who are required by the Alternative Investment Fund Managers (AIFM) directive
Raven Capital Management, a private equity manager that invests in asset-based senior secured loans and cash flow generating assets, has held the final closing of Raven Asset-Based Opportunity Fund I.
The fund now has over USD150m in capital commitments.
“While low interests rates and volatility dominate the broader fixed income markets, we believe attractive opportunities exist in the un-banked and off-the-run credits we directly originate,” says Josh Green (pictured), founder and portfolio manager. “We are pleased with the confidence our investors have shown in us, and look forward to working with a diverse set of counterparties.”
In
After an explosion in internet-related investment activity in Europe in 2012, activity in the first half of 2013 fell temporarily by one third versus the same period last year as investors temporarily paused for breath, according to analysis by Magister Advisors, an M&A advisory firm to the technology industry.
The analysis is confined to investments with a meaningful value of USD10m or more. During the entire period however, the average investment value held firm at USD29m. All signs point to a resumption of significant internet activity later in 2013, as VCs position themselves to invest actively again in the sector.
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