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BNP Paribas Securities Services has reinforced its global offering ahead of the Alternative Investment Fund Managers Directive (AIFMD), which is set to significantly transform the fund management industry.
The bank has just opened a new branch in the Netherlands, which comes shortly after the launch of its trustee and depository service in the UK.
James McAleenan, head of the UK from BNP Paribas Securities Services, says: “The final countdown to AIFMD coming into effect has started, but however well prepared fund managers believe they are for this implementation, it is still a far cry from reality. With four
The European Private Equity and Venture Capital Association has welcomed the European Commission’s new green paper on long-term investing and says it is looking forward to playing a full part in the debate the paper’s publication has begun.
According to the ECVA, much in the way of current regulation can discourage investors from allocating capital to long-term ventures. The use of current accounting standards to measure risk in long-term asset classes can also be inappropriate; artificial volatility is created in asset classes, such as private equity, which are designed to be held by investors until maturity.
The ECVA
Shawn Pride, the founder and chief executive officer of P & L Consulting Group, along with her former team, has joined Ernst & Young’s financial services office (FSO) in New York and Dallas.
P & L Consulting Group was a boutique advisory company focused on fund administration system selection, implementation and design for private equity, as well as other select alternative investment managers.
In her new role, Pride will lead the US advisory services for private equity firms.
"The P & L Consulting Group’s arrival at Ernst & Young comes at a pivotal time in the industry
Aviva Investors and the UK Green Investment Bank are to provide approximately GBP36m of funding for a new energy innovation centre for Cambridge University Hospitals NHS Foundation Trust at Addenbrooke’s Hospital.
The centre is designed to deliver substantial financial and carbon emissions savings for the trust and is expected to be one of the largest projects of this type in the UK.
Ian Berry (pictured), fund manager – infrastructure & renewable energy at Aviva Investors, says: “The development of UK energy centres is a very exciting new area for long-term investors such as pension funds. They can achieve
After a number of successful exits, including three IPOs, Cross Atlantic Capital Partners (XACP) is terminating its vintage 1999 fund, Cross Atlantic Technology Fund (XATF).
As part of the termination process, XATF is liquidating its remaining portfolio company holdings, including its 668,572 shares of common stock in Rubicon Technology RBCN -0.67 per cent.
XACP expects the shares of common stock in RBCN held by XATF to be fully divested by 30 June 2013, although a specific schedule for the sales has not yet been set.
XACP will continue to actively manage Cross Atlantic Technology Fund II and
AXA Investment Managers (AXA IM) has received an irrevocable offer from an investor group for its entire stake in AXA Investment Managers Private Equity SA (AXA Private Equity).
The proposed transaction would be structured with a view to protecting AXA Private Equity’s investment expertise and performance-driven culture, and to ensuring that its clients continue to benefit from the service and performance they have had over the past several years.
The transaction would enable AXA to monetize its interest in AXA Private Equity, a business developed by the group since 1996, and would provide a strong foundation for the next
import•io has raised GBP600,000 (USD900,000) from Wellington Partners, Alta Vista founder Louis Monier, and long-time French technology investor Emmanuel Javal to help expand and develop its “big data” platform.
import•io turns the web into a database, releasing the vast potential of the data trapped within the web. It lets companies, developers and coders extract, connect and fuse disparate sources of data from the web to let them build and create powerful new data sets and applications.
“We believe that the Web is full of useful data, but the reality stands: the Web was designed for documents, not data. At
Appleby has appointed senior funds and finance specialist George Bashforth as head of directorship services for Appleby Trust (Cayman) Ltd.
The appointment is the second senior appointment announced in as many months for the firm’s burgeoning funds and finance practice, which spans both the trust company and the law firm.
It also comes hot on the heels of the firm’s announcement last month that funds and finance partner Ian Gobin had joined the legal team in Cayman from Walkers.
Bashforth, previously a senior vice president at MaplesFS, starts in the new post on 2 April.
Bryan
Affluent Americans are more likely to allocate assets to alternative investment strategies in asset classes such as private equity, real estate investment trusts and hedge funds today than they have been for several years.
That is especially true for half of high-net-worth investors who say they are better off today than they were five years ago. The findings come from Northern Trust’s recent Wealth in America survey, which provides insights into the financial attitudes of 1,700 wealthy Americans.
Thirty per cent of high-net-worth investors, defined as those with USD5m or more in investable assets, say they are more
Following the signing of a share purchase agreement between Abénex Capital and RG Safety’s shareholders, Salvepar has confirmed that the transaction is to be closed at a price in line with the net asset value as at 31 December 2012 and at a significant premium to the net book value.
In addition, the proposed transaction will include a price supplement, which will be determined during the course of 2013.
Salvepar could receive an additional amount as a function of this supplement.
Closing is expected to take place in May.
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