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On 7 June 2013 the Guernsey Financial Services Commission (GFSC), the island’s financial services regulator, issued Guernsey’s domestic Alternative Investment Fund Managers Directive (AIFMD) marketing rules, together with a notification form, and has confirmed it is able to accept applications prior to 22 July 2013.
This highlights a “business as usual” approach from the GFSC, upheld by the wider Guernsey investment funds industry.
The GFSC has also provided a set of frequently asked questions (FAQs) which will be updated as the EU-wide implementation of AIFMD unfolds.
Amending its domestic rules and the provision of guidance signals that
ACON Latin America Opportunities Fund (ALAOF), a private equity investment fund managed by an affiliate of ACON Investments, has exited from its investment in InverCap.
InverCap’s main subsidiary, Afore InverCap, is the largest independent pension fund manager in Mexico.
ACON invested in the company in October 2010 through a complex structured transaction that involved the purchase of a participation in a mix of debt and warrants. Since ACON’s investment, InverCap’s managed funds improved dramatically in the official rankings and, starting in December 2011, ranked number one across all fund categories.
During ACON’s investment period, InverCap’s assets under
Richard Moore has joined the investment team at private equity investor Calculus Capital.
Moore (pictured) joins from Citigroup where he worked from 2005 to 2013, most recently as the head of the European technology (TMT) investment banking team.
Moore, who qualified as a Chartered Accountant with KPMG, has wide-ranging industry expertise having also worked at Flemings and JP Morgan. He brings with him over 14 years of experience advising on private equity investments, buy-side and sell-side M&A mandates, public equity and debt offerings, and leveraged buy outs in the UK, Europe, US and Asia.
Moore is the
The Intesa Sanpaolo Start-Up Initiative international road-show made its first stop in Israel as part of the prestigious Israel BioMed 2013 Conference held in Tel Aviv from 10-12 May.
The new international expansion phase of the acceleration platform promoted by Intesa Sanpaolo, envisaging strategic coverage of the most important non-European markets in terms of global development of high technology start-ups, was inaugurated yesterday with the first Israeli-Italian Life Science Investment Forum.
During the forum, 10 of the most promising Italian and Israeli start-ups in the biotech and medical devices industries presented themselves to over 100 international investors, corporate, incubators
Medical Specialties Distributors (MSD), a portfolio company of private equity firm Water Street Healthcare Partners, has acquired Medical Technology Resources (MTR).
Headquartered in Columbus, Ohio, MTR specialises in providing infusion pumps and related products, as well as biomedical and billing services to alternate-site healthcare providers.
“MTR’s unique product offerings and strong presence in the Midwest enhances our leadership position in the growing home infusion and oncology markets,” says James Beck, president and chief executive, MSD. “Over the past three years, we have grown our national footprint through partnerships with multi-site health care providers and strategic relationships with leading
Fox Technologies has been acquired by southern California-based Parallax Capital Fund, a private equity fund managed by Parallax Capital Partners.
The terms of the transaction have not been disclosed.
FoxT’s access to management and governance products enable organisations to proactively administer, enforce and audit granular access policies across diverse servers, applications, databases, and desktops from a single unified infrastructure. The access policies can be easily configured to control access, protocols, privileges, and command execution. By proactively enforcing authorisation and authentication-related policies, organisations reduce the risk of an insider security breach while solving key governance and compliance challenges.
KapStone Paper is to acquire the stock of Longview Fibre Paper and Packaging from Brookfield Capital Partners II, a private equity fund managed by Brookfield Asset Management, in a cash free, debt free transaction for USD1.025bn in cash and subject to certain post-closing adjustments.
Closing of the acquisition is subject to a number of customary conditions, including regulatory review.
Longview is a manufacturer of high quality containerboard, lightweight high performance multiwall paper, specialty Kraft papers, and corrugated containers located in the Pacific Northwest region. Longview’s operations include a mill located in Longview, Washington equipped with five paper machines
International law firm Osborne Clarke has advised NVM Private Equity and the management shareholders on the sale of Cwmbran-based IG Doors, a manufacturer of composite external doors for the housebuilding industry.
The business has been sold to Hörmann Group, a family owned German manufacturer of residential and industrial doors.
OC has previously advised long-standing client NVM on the sale of DxS, where NVM was lead investor to Qiagen, and the sale of the legal software provider TFB to Tikit plc.
The Osborne Clarke team was led by corporate partner Alisdair Livingstone (pictured) assisted by Simon Jones, James Taylor,
Novus, a New York-based company founded by former portfolio managers, engineers and data scientists to help institutions and investors generate higher returns, has received an investment from Bain Capital Ventures and Index Ventures.
The investments will be used to help Novus continue its growth by investing in its technical infrastructure, analytical platform and talent across technology, data and finance. Financial terms of the commitments were not disclosed.
Novus was founded in 2007 by a group of investors, engineers and data scientists to build a foundation that transforms how the world invests. Today, Novus works with top hedge funds,
A team of lawyers at Milbank, Tweed, Hadley & McCloy has represented the Maloof family, owners of the NBA’s Sacramento Kings and their home court Sleep Train Arena, in the sale of a 65 per cent controlling interest in the team to a Sacramento-based investor group.
The transaction valued the Kings at USD534m, a record price for an NBA franchise.
The investor group is led by software entrepreneur Vivek Ranadive, chief executive of TIBCO Software, along with Mark Mastrov, the founder of 24 Hour Fitness. The new owners have agreed to keep the Kings in Sacramento. The parties
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