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By Jay Gould, partner, Pillsbury Winthrop Shaw Pittman LLP – On 8 April 8, 2013, we reviewed a recent speech by David Blass, the Chief Counsel of the Division of Trading and Markets of the Securities and Exchange Commission (the “SEC”), in which Mr Blass provided his views on whether certain investment fund managers might be operating in a way that would require registration as a broker dealer. For hedge fund managers, the problem typically arises in the context of paying internal sales people based on the amount of capital raised. As we noted, the widespread misreading or abuse of
Social media marketing company SocialFlow has secured USD10m in a series B funding round.
Fairhaven Capital led the round and was joined by existing investors SoftBank Capital, RRE Ventures, AOL Ventures and Betaworks, as well as new investors kbs+ Ventures and Rand Capital.
SocialFlow will use these funds to accelerate its range and reach, expand its product portfolio and further develop its partner base as the market for intelligent social network engagement and analytics platforms expands.
SocialFlow co-founder and chief product officer Frank Speiser developed the company’s proprietary technology to enable brands, agencies and publishers to actively
StepStone Group has held the final closing of its secondary private equity fund, StepStone Secondary Opportunities Fund II, with total commitments of USD450m.
The fund exceeded its original target of USD350m, closing at its hard cap. Together with allocated capital from separately managed accounts, StepStone has raised approximately USD650m for a focused and differentiated strategy within the secondaries market.
Limited partners in the fund consist of US and international investors, including public and corporate pension funds, insurance companies, endowments and foundations, family offices, and financial service and advisory firms.
The fund’s investment strategy focuses on the smaller
Healthcare private equity firm Health Evolution Partners has appointed Kevin McNamara as the firm’s newest operating partner.
McNamara brings extensive experience in corporate operations, finance and investing with particular expertise in helping health services companies mature and grow.
“We are excited to add Kevin to our team of accomplished health care professionals,” says David J Brailer, managing partner and chief executive officer of Health Evolution Partners. “As chief financial officer of HealthSpring, Kevin helped shepherd the company’s incredibly successful IPO and we look forward to bringing his expertise to help guide our portfolio of growth companies.”
“While
Appleby, a provider of offshore legal, fiduciary and administration services, has made two senior additions to its funds and investment services team in Guernsey.
Appleby’s global head of funds, Ian Gobin (pictured), will transfer from the Cayman office to lead the global funds practice for a period of time from Guernsey. He will be joined by Deborah Poole who will be returning to Appleby in May as a partner in the same team.
Gobin joined Appleby last November having spent 11 years with another offshore firm. An expert in the funds and finance arena, with extensive knowledge of both the
RWC has launched a Cayman-based European Focus Fund with USD145m under management, representing support from existing investors.
The fund will be managed by the European Focus team who joined RWC from Hermes in October 2012 and replicates the existing strategy they have managed in a UK limited partnership since February 2009.
Dan Mannix (pictured), chief executive of RWC, says: “We believe there are growing opportunities for long-term investors to capitalise on the market conditions in which many companies are undervalued and overlooked. Investors are increasingly looking for different ways to access the equity markets to complement their growing books
The Market Authority of the Channel Islands Stock Exchange (CISX) has approved its 5,000th security for admission to its Official List.
The listed security, sponsored by Ogier, is a special purpose vehicle from specialist real estate debt provide, Capital A Finance.
The milestone, achieved in its 15th year, has been reached at a time when the CISX has recorded consistent growth despite the difficult trading conditions. During 2012 there were 510 new listings in total compared to 498 the previous year and trading volumes increased by 64 per cent.
Ogier was the sponsor for the Exchange’s milestone
Neuberger Berman, an employee-controlled asset manager, has appointed Susan Kasser as managing director and head of private debt at Neuberger Berman Alternatives.
Kasser joined Neuberger Berman in March and is based in New York.
Neuberger Berman’s private debt business is focused on building portfolios of attractive yield-oriented investments, including uni-tranche, second lien and mezzanine, and financing portfolio companies of private equity investors. The private debt business is a part of Neuberger Berman Alternatives, a private equity limited partner and an experienced direct equity co-investor. Neuberger Berman Alternatives has approximately 60 investment professionals in its integrated private equity platform,
Silicon Valley Bank, financial partner to the technology, life science, cleantech, private equity and venture capital industries, has provided Brandwatch, a social media monitoring and analytics company, with a GBP1.5m venture debt facility.
This financing will allow the company to expand globally and invest in product innovation. It also complements existing equity funding Brandwatch raised in March 2012, led by Nauta Capital.
Brandwatch, which is headquartered in Brighton, and also operates in the US and Germany, provides monitoring and analytical services that help enterprises research, monitor and engage with social media. Since its launch in 2007, the company
Gravitas is expanding its presence in India, including moving to a new larger office in Mumbai, prompted by an increase in demand for its services. Gravitas is a co-sourcing platform providing cloud technology, collaborative outsourcing, risk support and research to the alternative investment industry.
“The alternative asset management industry has entered an era of expansion as firms compete for capital while addressing the demands of an increasingly institutional clientele in the most heavily regulated environment ever,” says Gravitas CEO Jayesh Punater (pictured). “Hedge funds and private equity firms are responding to these challenges by embracing operational efficiency through the innovative
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