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Kohlberg Kravis Roberts (KKR) has appointed retired four-star General and former director of the CIA David Petraeus as chairman of the newly created KKR Global Institute.
Henry Kravis, co-founder and co-chief executive of KKR, says: “I have long known and respected General Petraeus and, on behalf of everyone at KKR, I welcome him to the firm. As the world changes and we expand how and where we invest, we are always looking to sharpen the ‘KKR edge.’ With the addition of General Petraeus, we are building on the work we have done to understand the investment implications of public policy,
Law firm K&L Gates has added Virginia Tam as a partner in the corporate and transactional practice and Sacha Cheong as counsel in the litigation and dispute resolution practice, both in the firm’s Hong Kong office.
Additionally, Soheui Choe joins the firm’s Seoul office as counsel in the intellectual property practice.
Arriving at K&L Gates from White & Case, Tam is dually qualified in New York and Hong Kong. With a focus on cross-border corporate transactions involving publicly-traded companies, she advises clients on private equity financing, including pre-IPO investments and private investments in publicly-traded equities; mergers and acquisitions, including management buyouts
The European Securities and Markets Authority (ESMA) has approved a cooperation agreement with Jersey to ensure it can continue to deliver alternative investment funds business into Europe after the introduction of the EU Alternative Investment Fund Managers Directive (AIFMD) in July.
ESMA’s board of supervisors approved the memorandum of understanding (MoU) at its 22 May meeting. ESMA negotiated the agreement on behalf of all 27 EU member state securities regulators as well as the authorities from Croatia, Iceland, Liechtenstein and Norway.
The agreement, which will be signed by John Harris, director general of the Jersey Financial Services Commission,
Electra Private Equity has reported a nine per cent increase in its diluted net asset value per share to 2,684p in the six month period ended 31 March 2013.
The firm’s diluted NAV per share, including dividends, is up 298 per cent over ten years resulting in a ten-year annualised ROE of 15 per cent.
Other financial highlights for the period include:
· Return per share (diluted) of 210p for six months
· Share price up 34 per cent against 15 per cent increase for FTSE All-Share
· Share price up 394 per cent over ten years
Enterprise Ventures has appointed Stewart McCombe as manager of The North West Fund for Mezzanine – the GBP15m fund which provides investment for fast-growing businesses.
The role marks a return to the world of finance for McCombe, a former corporate banker who spent over 20 years with Bank of Scotland. Since 2009 he has worked in the not-for-profit sector as a consultant and a trustee for a number of charities. McCombe has continued to work with businesses in the region as a coach with Winning Pitch and has provided young people with an insight into business through Young Enterprise.
The National Venture Capital Association (NVCA) board of directors has unanimously endorsed the International Private Equity and Venture Capital (IPEV) valuation guidelines at its board meeting on 13 May 2013.
These guidelines, developed by US and international industry participants, were written for practitioner use in developing and implementing valuation reporting processes and were finalised by the IPEV board in December 2012.
“The IPEV Valuation Guidelines are the result of industry stakeholders across a number of countries coming together to develop appropriate valuation guidance for venture capital, growth capital, and private equity firms,” says Mark Heesen (pictured), president of
The European Securities and Markets Authority (ESMA) has approved co-operation arrangements between EU securities regulators, with responsibility for the supervision of alternative investment funds (AIFs), including hedge funds, private equity and real estate funds, and 34 of their global counterparts.
ESMA has negotiated the agreements on behalf of all 27 EU member state securities regulators as well as the authorities from Croatia, Iceland, Liechtenstein and Norway.
These co-operation arrangements are a key element in allowing EU securities regulators to supervise efficiently the way non-EU alternative investment fund managers (AIFMs) comply with the rules of the Alternative Investment Fund
New Vernon Capital will use Gravitas Private Cloud for several core systems.
Gravitas Private Cloud is a secure, scalable and integrated solution built on VCE’s VBlock state-of-the-art virtualisation and cloud technology.
New Vernon Capital’s decision to migrate their infrastructure to the Gravitas Private Cloud provides it with a secure, best-of-breed technology infrastructure while minimising the overall costs and maintenance required when managing an onsite IT environment. The Gravitas Private Cloud will be customised for the specific needs of New Vernon’s business, which will include the configuration of a highly available messaging platform for their production and disaster recovery
Insight Venture Partners has closed Insight Venture Partners VIII, a USD2.57bn private equity fund.
Like its predecessor funds, Insight Venture Partners will invest Fund VIII in global software, e-Commerce, internet and data services businesses.
The firm will deploy capital in growth stage and more mature companies, as minority or control transactions. The new fund will continue to execute on Insight’s strategy of helping portfolio companies achieve their long-term operational and financial goals.
"We appreciate the commitment of our investors who continue to support our strategy of focusing on software and technology companies that are scaling and maturing,"
DealVector has launched the first secure electronic communication network to allow fixed income and illiquid asset market players to know “who’s in their deal,” improving the efficiency of these markets by facilitating communication.
The DealVector platform fills a major gap in the current DTC/Street Name system by offering market participants the ability to directly message the beneficial owners of financial assets on a mutual opt-in basis. In doing so, DealVector allows issuers, investors, advisors, collateral managers and others to come together to address governance and restructuring issues, improve market surveillance, source illiquid assets and more.
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