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A cross-office team from Squire Sanders has advised VTB Capital, the investment arm of Russia’s second-biggest lender, in its purchase of a minority stake in Russian satellite-television provider Tricolor TV for an undisclosed sum.
Tricolor TV is the brand of National Satellite Company, the largest satellite television operator in Russia and Europe, with more than 12.4 million registered subscribers and 9.12 million paying subscribers.
VTB Capital is the strategic business investment arm of VTB Group.
The Russian pay-TV market is rapidly growing and VTB Capital is seeking to prepare Tricolor TV for an initial public offering within
National Financial Partners (NFP), a provider of benefits, insurance and wealth management services, is to be acquired by affiliates of private equity firm Madison Dearborn Partners.
Under the terms of the agreement, NFP shareholders will receive USD25.35 in cash for each share of NFP common stock they own, in a transaction with an equity value of approximately USD1.3bn, which includes the full value of the company’s convertible debt.
The purchase price represents a premium of approximately 26 per cent over NFP’s closing share price of USD20.05 on 12 March 2013, the last day of trading prior to press
Venture capital fund managers Mercia Fund Management and Catapult Venture Managers have appointed Carlton Jones as chief executive of nanoTherics, effective immediately.
Formerly global head of sales at ThalesNano, Jones brings over 27 years’ experience in the life sciences sector to his new role, and has been responsible for the implementation of global sales, distribution and market penetration strategies.
Prior to his time at ThalesNano, Jones was sales director for Europe, Middle East and Africa at Thermo Biosciences, where he managed both direct and distribution channels. He holds a BSc in Genetics and Microbiology from the University of
NYSE Euronext (NYX) is a partner of the eighth Smallcap Event organised by CF&B Communication on 15 and 16 April at the Salons Hoche in Paris.
The annual forum attracted around 180 investors from the euro zone and 45 companies listed on NYSE Euronext’s European market with market capitalisations of under EUR500m.
CF&B Communication created the first Smallcap Event in 2005 to help listed companies meet institutional investors and promote small-cap growth by forging links with fund managers that are potential investors.
“NYSE Euronext is proud to support the Smallcap Event for the eighth year running,” says Marc
Law firm HowardKennedyFsi has acted as legal adviser and/or sponsor in over 78 per cent of all venture capital trusts (VCTs) launched in the VCT season 2012/13.
As the only English law firm to act as both sponsor and legal adviser to VCTs, this season HowardKennedyFsi has represented 25 of the 32 successfully launched VCTs; over a massive 78 per cent.
In terms of fundraising, these VCT prospectus offerings have raised over GBP171m, a year when the total market raised a mere GBP209m.
The firm also acted for the only new successful VCT entrant this tax
Private equity firm KPS Capital Partners has held the first and final closing of KPS Special Situations Fund IV with USD3.5bn in investor capital commitments.
The fund will be focused on controlling investments in corporate carve-outs, turnarounds, restructurings, bankruptcies and other special situations.
KPS Fund IV, which had a USD3.0bn target, is the third oversubscribed institutional private equity fund raised by KPS. The fundraise was completed in under three months.
Michael Psaros (pictured) and David Shapiro, co-founders and managing partners of KPS, say: "We are humbled by the demand from the global investment community for KPS Fund IV
Fredrick D Scott has launched Fredrick D Scott LLC (FDS), a venture capital and private equity firm that will principally invest in and acquire minority-focused financial and banking institutions.
Scott (pictured) was formerly the head of ACI Capital Group. Founded in August 2009 and registered as an investment adviser with the US Securities and Exchange Commission, ACI was a privately held investment banking and advisory firm that managed USD3.7bn in assets.
"My goal is to redefine and advocate for economic sustainability and wealth creation in our community," says Scott. "The minority banking industry, more specifically the African American owned banking
Resonance Asset Management, an alternative asset management firm founded by industry veteran Nick Wood, has raised GBP35m in assets for its inaugural wind energy income fund.
With a distribution agreement in place via boutique investment bank Dexion Capital, initial commitments were raised from pension funds, insurance companies and family offices.
The fund, advised by Resonance, is ungeared and pays out all generated income to investors. Investors in the fund are seeking regular income that is linked to the price of wholesale electricity in the UK and the subsidies from the Renewable Obligation regime.
The offering will consolidate
Palatine Private Equity has strengthened its investment team with the appointment of Andy Lees as a partner.
Lees (pictured) joins the private equity firm from Barclays where most recently he led the large corporate team across the North West of England.
He has over 20 years’ experience in corporate finance, private equity and banking having previously held positions at Ernst & Young, Aberdeen Murray Johnstone Private Equity (AMJPE) and Barclays Ventures.
Whilst at AMJPE, Lees worked on several transactions with the Palatine partners including:
• The GBP15m MBO Plaxton Coaches;
• The GBP16m buy-in management buyout
Private equity firm SL Capital Partners has promoted Richard Chapman, Cameron Graham and John Cancellieri to the position of investment director, as well as Andrzej Plichta to investment manager.
Chapman, who joined SL Capital’s Edinburgh office in 2007, is responsible for primary fund investments, secondary investments and co‐investments. He is particularly focused on the European turnaround equity space, as well as the Italian and Benelux buyout markets. Chapman also involved in the management of the Standard Life European Private Equity Trust (SLEPET), SL Capital’s listed vehicle.
Graham, who joined SL Capital in 2008, has been involved in all aspects
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