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BlueBay Asset Management, a specialist manager of fixed income and alternative investments, has held the final close of the BlueBay Direct Lending Fund.
The fund has raised over EUR800m of commitments from institutional investors including pension funds, insurance companies and family offices.
The fund will make investments of EUR20m to EUR100m in size to UK and Northern European mid-market companies with an emphasis on targeting high-quality businesses with an enterprise value of less than EUR500m. The fund aims to provide primarily senior and subordinated loans for acquisitions, capital growth, restructuring and liquidity situations. To date over 20 per
International investment bank Altium has promoted Andy Clarke to director and Elin Sion to assistant director.
Clarke (pictured) joined Altium in 2009 from Grant Thornton, having previously worked at LDC and KPMG. He specialises in private equity transactions and general mergers and acquisitions (M&A).
Sion has been at Altium since 2011. She qualified as a chartered accountant with PwC and holds a Master’s degree in Chemical and Process Engineering from the University of Manchester. She has been involved in a number of private equity and trade transactions in the business and support services and energy waste and renewables
The Association of Investment Companies (AIC) has published “Investing for the future”, which shows that VCTs continue to play an important role in addressing the UK’s finance gap.
Investment in SMEs has remained strong throughout the financial crisis. VCT managers provided details of 78 first time investments in 2012 totalling GBP145m, with the average size of a first time investment averaging GBP1.81m – directly targeting the finance gap.
Amongst respondents, a further GBP211 million of follow on investment went to 160 companies in 2012.
The AIC received information from 399 SMEs1, representing approximately 40 per cent of
Holly Neavill and Louisa Watt have joined Cadwalader, Wickersham & Taft’s financial restructuring department as partners.
They will be based in the firm’s London office.
Gregory Petrick (pictured), managing partner of the firm’s London office and co-chair of the financial restructuring department, says: “The European market continues to present its challenges, with creditors looking for practical and innovative solutions for cross-border restructuring. Holly and Louisa have proven track records. They have built strong and unique practices representing a range of institutions facilitating restructuring and trading transactions and are leading authorities in these areas. This is an exciting time
ING Investment Management says that with government bonds yielding 1.5%, institutional funds are increasingly looking for alternatives that manage volatility while returning upwards of 3%…
Tim Dowling (pictured), Head of the Credit Boutique at ING Investment Management, says: “On the institutional side, portfolios have traditionally been built around a starting point of government bonds. But for pension funds and insurance companies investing your money in 1.5% yielding bonds is not really attractive. An insurance company’s business model cannot be run on that low a return and it needs to invest in assets yielding between 3-5%. Not only that, they are
Blue Wolf Capital Partners and Atlas Holdings are to acquire a controlling interest in Twin Rivers Paper Company from Brookfield Asset Management.
Terms of the agreement have not been disclosed.
The transaction is expected to close in approximately three weeks, allowing time for certain procedural requirements. Blue Wolf and Atlas, both New York-based private investment firms, have long track records of building forest products companies in North America.
Twin Rivers, with facilities in Edmundston and Plaster Rock, New Brunswick, and Madawaska, Maine, has been a vital economic engine for the region for over 80 years, producing specialty
The Wine Enterprise Investment Scheme (TWEIS) can be subscribed to quarterly throughout the fiscal year, on 30 June, 30 September, 31 December 2013 and 31 March 2014.
This means that EIS (enterprise investment scheme) benefits are now available to investors all year round – not just at the end of the fiscal year in March/April.
By investing early in the tax year investors are able to benefit from a real cash flow advantage throughout the year by, for example, having their tax codes changed, whilst still being able to carry back their rebate to the prior year if
JZ Capital Partners (JZCP), the London listed private equity fund which invests in US, European and Latin America micro-cap companies, had a record 43 per cent total shareholder return for the 12 month period ended 28 February 2013.
The firm’s NAV Total Return is six per cent including: a record distribution of 29 cents per share (FYE 28/2/12: 25 cents per share); NAV of USD630m (FYE 28/2/12: USD615m) and NAV per share of USS9.69 (FYE 28/2/12: USD9.47).
JZCP has reported USD145.9m of proceeds from the realisation of 19 investments, while a total of USD200.7m has been invested in 25
US Debt Ventures, a private equity firm that has acquired over USD750m in non-performing loans to date, has secured a USD100m revolving credit facility from a major financial institution.
The facility gives US Debt Ventures increased capacity to further expand its successful non-performing loan and REO disposition model.
The firm expects to surpass USD1bn in total portfolio purchases in 2013 and following the close on this financing facility, US Debt Ventures plans to deploy committed capital through national non-performing loan and REO portfolio acquisitions.
Todd Billings, chief executive of US Debt Ventures recently, says: "We are pleased
After nearly 12 months in operation, over 400 limited partner firms and more than 600 general partner firms from 60-plus countries actively use Palico.
LPs, GPs and advisers have connected on more than 500 investment opportunities posted on Palico in the past year.
Palico is the first regulated electronic platform for the full range of private equity fund investment options, including classic fundraisings, co-investments, secondaries and deal-by-deal structures. Using Palico, LPs, GPs and advisers, meet and engage with qualified counterparts on primary, co-investment and secondary opportunities.
Palico helps LPs and GPs connect in a private equity fund
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