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Drooms’ UK managing director Howard Revens is to present on the impact to fund managers on AIFMD’s wide ranging and complex reporting requirements at Knight Frank’s 2013 AIFMD: Practical Implications Breakfast Briefing.
Taking place on 18 June 2013, Drooms will present alongside Knight Frank to prepare fund managers ahead of the July deadline and offer solutions on how best to implement these guidelines.
In a bid for increased transparency, AIFMD requires fund managers to comply with new mandatory requirements relating to regulatory capital structuring, legal, data handling and property valuation. As a result, many fund managers have been
ACON Investments has held the final closing of the firm’s most recent US middle market fund, ACON Equity Partners III, with total commitments of USD751,385,000.
ACON was significantly oversubscribed with global investor interest. Investors in the fund include public pension funds, endowments, insurance companies, fund‐of‐funds and family offices from the US, Europe, Asia, and the Middle East.
The fund held its first closing in early 2012. Mercury Capital Advisors acted as the global placement agent for the fund.
The fund has already made several investments and has in place a pipeline of new opportunities, principally focused on acquiring energy or energy
Future Capital Partners (FCP) is seeking to raise GBP7m to fund the next stage of its socially responsible investment initiative, Future Fuels LLP. Future Fuels aims to build a renewable transport fuel (RTF) refinery in Grimsby, which will deliver 15 to 20 per cent of the UK’s requirements by 2016.
The investment aims to provide a ROI of 100 per cent to investors, with a post-tax IRR of up to 40 per cent.
The latest fundraising follows a recent capital-raising exercise which saw Future Fuels acquire the assets of a US bioethanol plant in March 2013. The additional capital raised will
Channel Mark Ventures, a privately owned technology investment company, has launched the ChannelUp Fund, a private placement investment fund designed to accelerate and expand the firm’s technology venture capital investments.
The ChannelUp Fund will place a minimum investment of USD500,000 of start-up capital into each new investment that Channel Mark Ventures makes.
ChannelUp funding will allow for Channel Mark Ventures to add to its expanding portfolio of private placement technology investments, while also significantly shortening the average time of bringing a technology product or service to market.
Danny O’Shea, chief executive and founder of Channel Mark Ventures,
Walkers has invited a number of lawyers across its global network to join the partnership, as the firm expands further in key markets to support the continued growth and requirements of its clients.
Six highly experienced individuals have been promoted to partner across five of Walkers’ international offices. With promotions in all of the firm’s main practice areas, this represents a significant expansion for Walkers, taking the firm’s total number of partners to 59.
Walkers’ new partners collectively represent some 75 years of legal experience and the promotions take place in the following jurisdictions and practice groups:
Emerging markets private equity firm Actis has committed USD290m for a 60 per cent stake in Aela Energía, a renewable energy development set to become Chile’s largest wind and solar energy provider.
Actis is investing alongside Mainstream Renewable Power, a wind and solar developer, which will own 40 per cent of the asset. The total value of the project is USD1.4bn including debt.
Aela Energía will increase the country’s renewable energy capacity by 3.6 per cent, providing enough clean energy to power more than 131,000 homes.
With GDP growth running at around six per cent a year,
Citi has expanded its private equity services business into Luxembourg through a dedicated centre of excellence for closed-ended funds.
This launch follows Citi’s recent introduction of such services in Dublin and Singapore and allows the bank to provide end-to-end private equity solutions in the growing EMEA market.
Citi’s local Luxembourg team will serve its private equity clients, leveraging the bank’s existing global private equity expertise and delivering its established experience in Luxembourg depositary banking as well as local regulatory and compliance requirements.
“Luxembourg is strategically poised to address the regulatory changes underway in the European funds space. Our
HIG Europe has completed the sale of its portfolio company Anvis Group to Tokai Rubber Industries (TRI). HIG Europe is the European arm of global private equity company HIG Capital.
Anvis, which is headquartered in Steinau an der Straße, Germany, is a provider of critical, highly engineered anti-vibration products that are primarily used in the automobile industry where they improve the dynamic handling, comfort and road safety of vehicles. In 2010, HIG Europe acquired the company and joined forces with the incumbent chief executive Olaf Hahn to carry out a systematic process of advancement. This team succeeded in increasing the annual
Ghost Group, a Southern California-based venture capital firm primarily focused on the emerging marijuana industry, has launched Emerald Ocean Capital, a fund that invests in market-defining companies and technology in the legal cannabis and medical marijuana sector.
Additionally, Ghost Group has launched the Ghost Domain Capital fund, which invests in “category killer” Internet domains that are mostly oriented toward B2B solutions. Both funds seek to provide an attractive rate of return, with investors benefitting from full collateralisation, pass-through and the upside of cash flow generated by management.
The launch of Emerald Ocean Capital comes at a time when
Bloomberg has launched Bloomberg Beta, a USD75m venture fund to invest in and create early-stage technology companies.
Bloomberg Beta, in keeping with Bloomberg LP’s longstanding pattern of entrepreneurialism, is focused on backing and working alongside exceptional founders.
Bloomberg Beta exists to expand Bloomberg LP’s horizons by investing in and creating companies within Bloomberg’s broad areas of interest.
Set up as a true fund, Bloomberg Beta will invest for financial return, selecting companies independently of their current or future business relationship with Bloomberg LP.
"Bloomberg Beta is a natural extension of the entrepreneurial spirit and culture of
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