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James Cameron, the chairman of Climate Change Capital, the environmental investment manager and advisory group, has been appointed to the Infrastructure UK advisory council, a unit within the Treasury aimed at prioritising and improving the delivery of UK infrastructure investments.
The council, which meets every quarter, is chaired by Paul Skinner and includes Permanent Secretaries from key government departments as well as other senior representatives from the private sector including, Steve Holliday, chief executive of the National Grid, Cressida Hogg, managing partner infrastructure of 3i, and Ian Tyler, chief executive of Balfour Beatty.
According to HM Treasury, GBP200bn of investment
Kinetic Partners’ application to become a fund management company (MANCO) in Luxembourg has been approved by the Luxembourg Financial Authority (CSSF).
The issuance of the licence will enable Kinetic Partners (Luxembourg) to host third party Undertakings for Collective Investment in Transferable Securities (Ucits) funds – and in the future Alternative Investment Funds (AIFs) – to ensure adequate risk oversight, corporate governance and compliance of fund structures with local and international laws and best practices.
The successful application follows the introduction of the “Kinetic Passport” service, launched in Q4 2012. The service provides support in the registration, maintenance and overview
Joanna Shatney (pictured), Head of US Large Cap Equities at Schroders, shares her views on the recent sequestration in the US…
We are now in the first week of sequestration – sequestration refers to the mandatory cuts in spending that went into effect 1 March in the US, directly impacting defence and Medicare spending (part of the Budget Control Act of August 2011).
While some of these cuts are already partially reflected in Wall Street estimates, there are likely to be some downward revisions to GDP by Street economists – there is probably another ~50bps downward revision risk. We are
AXA Private Equity, a major shareholder in Fives, has supported the engineering group’s acquisition of MAG Americas, a supplier of high-performance machinery.
MAG Americas is one of the leading global players in the production of complex machinery and composite processing. The acquisition will enable Fives to expand its product range and strengthen its presence in North America. It will also grow Fives’ existing customer base, most notably among major industrial groups in aerospace, mining, energy, and agriculture.
MAG Americas has approximately 1,000 employees, based in the US, France, Canada, China, and South Korea. In 2012, the company had a
Kohlberg Kravis Roberts (KKR) is to acquire industrial machinery maker Gardner Denver in a transaction valued at approximately USD3.9bn, including the assumption of debt.
Under the terms of the merger agreement, KKR will acquire all of the outstanding shares of Gardner Denver common stock for USD76 per share in cash. This price represents a premium of approximately 39 per cent to Gardner Denver’s share price on 24 October 2012, the day before the company confirmed that it had begun to explore strategic alternatives.
The merger is subject to approval from Gardner Denver’s shareholders, regulatory approvals and other customary closing conditions.
Ogier has advised Avis Budget on the high yield bond financing for its USD500m acquisition of Zipcar.
Avis Budget and Zipcar currently anticipate that the transaction will be completed this week.
Avis Budget Group is a provider of vehicle rental services through its Avis and Budget brands, with more than 10,000 rental locations in approximately 175 countries around the world.
Zipcar is a car sharing network, with more than 777,000 members and nearly 10,000 vehicles in urban areas and college campuses throughout the US, Canada, the UK, Spain and Austria. Zipcar offers vehicles by the hour or day to residents
Managed Pressure Operations (MPO), an oilfield services and technology company, has been acquired by Aker Solutions, a global oilfield services provider.
MPO, a company that provides continuous circulation and managed pressure drilling (MPD) systems, was an NGP Energy Technology Partners portfolio company.
NGP ETP, a private equity firm that manages approximately USD500m in capital commitments, focuses on investments in energy technology and service companies. MPO was advised by investment bank Tudor, Pickering, Holt and the law firms of BoyarMiller and Schjodt. Terms of the deal have not been disclosed.
The acquisition places Aker Solutions at the forefront of technology development
William Mason will be appointed director general of the Guernsey Financial Services Commission on the retirement of Nik van Leuven.
Mason (pictured) will join the Commission from the position of Head of Risk at the Central Bank of Ireland, where he has led the development and implementation of its PRISM supervisory methodology.
Most recently he has been working with the European Central Bank helping it plan for the Eurozone’s proposed Banking Union.
Before that Mason worked for the UK Financial Services Authority, joining shortly before the financial crisis, and led teams supervising a range of credit institutions, insurers and investment
Research shows that Australian companies backed by private equity support an estimated half a million jobs.
This is one of the findings of the Deloitte Access Economics report – “The Economic Contribution of Private Equity in Australia” – released by the Australian Private Equity and Venture Capital Association (AVCAL).
The study is based on data for 106 companies acquired by private equity since FY2000. This data was provided by AVCAL members representing approximately 70 per cent of total private equity funds under management in Australia.
Australian companies backed by private equity employ 262,000 people, making this group a larger
Perella Weinberg Partners is to launch PWP Growth Equity, a new private equity strategy focused on investing in growth companies in the lower middle market.
The new strategy will be led by David Ferguson (pictured) and Chip Baird, investment veterans who have joined the firm as partners in its asset management business. They will be based in New York.
Ferguson and Baird join Perella Weinberg Partners from Weston Presidio, a lower middle market private equity firm, where they were both partners. Ferguson and Baird have 40 years of experience in private equity and investing, collectively.
The PWP Growth Equity strategy
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