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Gramercy, a dedicated emerging markets investment manager, has made several hires to its Latin America private equity investment team.
The team is co-led by Gustavo Ferraro, a managing director and head of Latin American markets at Gramercy, and David Britts, a managing director focused on private equity.
The firm has also formed a TMT Advisory Board and appointed several members.
The team intends to invest in private Latin American middle market companies in the technology and technology-enabled sectors that have limited access to financing and global markets. As part of this effort, Gramercy has opened an office in Silicon Valley
Venture capital firm Lux Capital has closed its third fund, Lux Ventures III, with commitments totalling USD245m.
The fund was oversubscribed, surpassing its initial USD200m target, and is the firm’s largest to date.
Limited partners comprise a number of prominent global foundations, endowments, financial institutions, fund-of-funds, corporations, and family offices.
“We are incredibly fortunate to have the support of our existing investors, as well as welcoming new institutions as our partners in Lux Ventures III,” says Lux Capital general partner Adam Kalish (pictured). “We all share the philosophy that a differentiated approach and willingness to make contrarian venture investments can
Neville Bramwell (pictured), partner at Deloitte, comments on the European Securities and Markets Authority’s (ESMA’s) final guidelines on sound remuneration policies under the Alternative Investment Fund Managers’ Directive (AIFMD)…
ESMA’s final guidelines are likely increase cost and complexity for fund managers. More firms will fall into the scope of the requirements than envisaged in the original consultation paper. The guidelines will now extend to include people performing risk or portfolio management functions on behalf of fund managers. That widens the scope of people who will have to comply with the new rules on remuneration.
However, the provisions on proportionality –
USS Investment Management (USSIM), the wholly-owned investment management subsidiary of Universities Superannuation Scheme, has appointed Robin Filmer-Wilson as investment manager, private equity co-investments.
Filmer-Wilson (pictured) has over 14 years of direct private equity and mezzanine investing experience, first at Brown Brothers Harriman in New York, then at Baring Private Equity in London and Paris.
Since 2005, he has been a director at TCR Capital, a French mid-market private equity firm, where he worked on numerous LBO transactions as principal.
Mike Powell, head of alternatives assets at USSIM, says: “This addition underscores the commitment to the co-investment strategy which enables
M&A activity in the Nordic region grew in total value by 27.8 per cent in 2012 – mostly targeting healthy SMEs – while at the same time contracting by 30.4 per cent in Western Europe, according to research into the privately-held as well as listed businesses of Norway, Sweden, Denmark and Finland by S&P Capital IQ.
The growth of 27.8 per cent brought Scandinavian M&A total deal value up to USD19bn from USD15bn in 2011 – edging the USD20bn mark for the first time since 2008, when deal value totalled USD22bn.
By contrast, total M&A deal value contracted by 2.7
Pelican Energy Partners, a specialised private equity fund, has held a final close of its debut fund, having reached USD120m in committed capital.
Pelican is focused on strategic investments in smaller, high growth energy service companies with sustained earnings outlooks. Investors in the fund include current and former energy service company owners, CEOs and other top officers within the oilfield service industry.
"Our initial goal was to raise USD80m to USD100m," says Mike Scott, managing partner of Pelican. "We believe the incremental capital commitments to the fund, coming from an extremely experienced investor base, further validates our strategy."
Pelican’s management
Technology business LUX Assure has received GBP3.25m funding to transform the company from a technology development business to a service provider for the oil and gas industry.
The investment comes from ConocoPhillips, Statoil Technology Invest, Archangel Informal Investment, and the Scottish Investment Bank (SIB), a division of Scottish Enterprise.
LUX Assure’s CoMic and OMMICA products will form the core of the company post investment. CoMic is used to deliver improved corrosion management. Corrosion costs oil companies many millions of dollars each year and CoMic enables optimisation of chemicals used for corrosion protection. OMMICA offers a simple method to monitor
Cosgrove Hall Fitzpatrick (CHF) Entertainment is looking to raise GBP2m to produce a new animated children’s TV series, Pip!, to be shown on Channel 5’s Milkshake! and featuring the voice of Sir David Jason.
CHF Entertainment, creator of Danger Mouse and Count Duckula, is one of Europe’s leading animation companies.
The company will use the investment to produce 52 episodes of Pip!, each 11 minutes long, and develop and secure a number of innovative merchandising opportunities.
Some of the funding will be raised through the Enterprise Investment Scheme (EIS), which attracts 30 per cent tax relief on the investment,
David Zahn (pictured), manager of the Templeton Strategic Bond Fund, believes it is time for UK strategic bond funds to make use of allocations across a wider variety of fixed income asset classes in their search for real returns. Zahn, who has cut all exposure to UK gilts within the Templeton Strategic Bond portfolio argues the case for greater fixed income diversification in a low-interest rate environment…
Investors in UK strategic bond funds are used to a strong focus on developed markets, with a heavy domestic emphasis, in favour of UK government bonds (gilts). In past years, this approach has
Growth-focused private equity firm ECI Partners has promoted Lewis Bantin to the position of partner.
The promotion recognises Bantin’s (pictured) contribution to ECI since he joined the firm in May 2008 particularly his work as head of the commercial team, an important feature of ECI’s value creation capability.
The commercial team works closely with management to help accelerate growth, bringing to bear both dedicated internal resources and the networks developed by ECI Partners over the past three decades. The team supports 100 day planning programmes and also focuses on strategic development projects, ranging from marketing and sales effectiveness to
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