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Lucas Wurfbain at Insparo Asset Management comments on the long term outlook for Egypt…
The elation of the Egyptian people is palpable but when the dust settles we are once again confronted by the stark reality of the Egyptian economy. Inflation has spiked, unemployment is much higher (82% of people between 15-29 are unemployed) and tourism revenue has slumped.
The country needs a cash infusion otherwise its ability to import fuel and food becomes severely restricted and we can quickly spiral towards crisis. The incoming government needs to provide clarity and stability and restore the normal processes of the country so that
AXA Private Equity is to acquire, through its infrastructure funds, Unicredit’s 40 per cent stake in HISI (Holding di Investimenti in Sanità e Infrastrutture).
AXA Private Equity already owns 40 per cent of the share capital of HISI and, following this acquisition, the firm will own 80 per cent of the company’s capital.
HISI is a holding company which owns 65 per cent of Genesi Uno, an Italian project company awarded a 28 year concession to design, build and operate a 550 bed hospital in Legnano, Lombardy. The construction of the hospital commenced in March 2006 and completed
Climate Change Capital Private Equity’s (CPE) portfolio company Orège has completed an initial public offering on the French Euronext market, raising EUR20m of new capital to fund its next phase of growth and valuing the company at circa EUR60m.
CPE invested EUR6m in Orège, a French water technology company, in 2011.
CPE was the largest institutional investor pre-IPO and remains one of the largest investors post-IPO.
Alex Betts, a managing director of CPE, says: "The IPO places a market value on Orège of circa EUR60m, which represents a significant increase in the company’s valuation since CPE’s original investment.”
ECI Partners, the UK growth-focused mid-market private equity firm, has sold healthcare IT company CliniSys to Montagu Private Equity.
The exit has yielded ECI a 2.5x return on its investment.
Based in Chertsey, and with offices in Germany, France, Belgium and Spain, CliniSys is a provider of software solutions to clinical laboratories across Europe. The company’s laboratory information systems help customers deliver timely and accurate test results to a wide range of constituents across the healthcare delivery chain. Solutions have been successfully deployed in over 2,000 laboratories with more than 22,000 users in 34 countries.
Technological advances,
Cycle Capital Management (CCM) has launched Cycle Capital Fund III, a venture capital fund in the clean technology sector which targets companies at the commercialisation stage.
The announcement was made by Andrée-Lise Méthot (pictured), founder and managing partner of Cycle Capital, accompanied by Quebec Premier Pauline Marois and Minister of Finance and the Economy Nicolas Marceau.
The Cycle Capital Fund III will invest in sectors involving energy efficiency, green agriculture and chemistry, industrial applications, transportation, clean energy and fuels, and waste upgrading and transformation. Cycle Capital favours projects with the highest performance that help improve process efficiency.
Digital music provider I Like Music is on a recruitment drive after securing a GBP700,000 growth capital deal as part of Santander’s Breakthrough programme.
The Richmond-based company, which supplies music to businesses including the BBC and Funky Pigeon, is looking to recruit an additional 10 staff to boost its sales and account management teams to launch a host of new services.
I Like Music owns the physical music collection created over 55 years by Gold Badge and award winning radio producer Phil “The Collector” Swern. Swern, a director of I Like Music, continues to keep the collection updated
Solar market specialist Sungevity has secured USD15m in new equity financings, including an investment from venture capital firm GE Ventures.
The funding will be used to accelerate the company’s capital efficient growth initiatives with a primary focus on the development of new service offerings that will diversify Sungevity’s business and grow the company’s global footprint.
The new funding follows an announcement by Sungevity in January that it had secured USD125m in combined venture capital and project financing.
The company currently services nine US states including Arizona, California, Colorado, Connecticut, Delaware, Maryland, Massachusetts, New Jersey and New York. The
Legal & General Investment Management’s (LGIM) European Economist Hetal Mehta says there is a real danger of deflation in the euro area, but that no significant action is expected from the European Central Bank (ECB) in the near term…
Euro area consumer price inflation has been on a downward trend since mid-2011. We think this trend is likely to continue as lower unit labour costs and the ongoing structural reforms to liberalise markets, which generate price competiveness, drag down inflationary pressure. “The prolonged period of unemployment in Europe has added to deflationary pressure as lower employment has fed through to
Irving Place Capital and funds managed by Oaktree Capital Management have entered into a definitive agreement to sell their ownership interests in Chesapeake to The Carlyle Group.
Chesapeake is a supplier of specialty paperboard packaging, including folding cartons, leaflets and labels, for the pharmaceutical, confectionary, and premium drinks markets. Founded in 1918, Chesapeake is headquartered in Nottingham, UK and serves a blue-chip customer base from 38 sites located throughout the UK, continental Europe, the US and Asia.
Irving Place Capital and Oaktree Capital completed the acquisition and recapitalisation of Chesapeake in May 2009, supporting the transition from a
AIM-quoted China Private Equity Investment Holdings is planning a seven-year USD20m joint investment programme with the Hong Kong-based investment management firm Adamas Asset Management.
The move is in line with the developing strategic partnership between the companies agreed last November.
The programme will target investments predominantly in income-generating assets in Greater China. It will be funded initially by USD5m of new capital to be raised by a placing, the timing and details of which are still to be announced.
CPE chairman John Croft says: “Our decision last year to develop a strategic partnership with Adamas recognised the
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