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Fortress Investment Group has reported a 20 per cent increase in base quarterly dividend to USD0.06 per dividend paying share, effective for the fourth quarter of 2012 and full year 2013.
Fortress also repurchased 51.3 million dividend paying shares at a price of USD3.50 per share, representing approximately 10 per cent of dividend-paying shares outstanding.
Assets under management totalled USD53.4bn as of 31 December 2012, an increase of four per cent from the third quarter of 2012 and 22 per cent from the fourth quarter of 2011
GAAP net income totalled USD222m and USD219m for the fourth quarter and year
Private equity firm Nautic Partners has completed the sale of Big Train to Kerry Group.
The terms of the transaction have not been disclosed.
Headquartered in Lake Forest, California, Big Train is a manufacturer and marketer of liquid and powdered beverage concentrates used for blended ice coffee, fruit smoothies, chai tea, cocoa drinks and various syrups.
The company distributes its products through multiple channels, including independent coffeehouses, large retail chains, and international distributors. Big Train serves its approximately 14,000 coffeehouse customers directly, as well as through distributors. Coffeehouses sell the company’s product under the “Big Train” brand as well as
Osborne Clarke has hired Mark Spinner, a former head of the UK private equity practice and the UK corporate practice at Eversheds.
Spinner (pictured) joins the Osborne’s Clarke’s private equity team in the firm’s London office.
Spinner has a strong track record of private equity transactions, acting for both institutional investors and for portfolio companies, with over 25 years’ experience in the sector. In addition to the financial services sector, he brings experience of the leisure, software and support services industries. He also brings an international element through his prior role as commercial director at a technology company, responsible for its
Lyceum Capital-backed Access Group, the business management software provider, has acquired Tech City start-up Sazneo for an undisclosed sum.
The transaction represents Access’ ninth add-on since Lyceum Capital invested in the company in March 2011.
The deal for the online communication and collaboration technology, likened to Chatter and Yammer, follows the launch of Access aCloud, Access’ SaaS-based self-service platform. The move will accelerate the integration of persistent instant messaging services into the company’s product suite by up to 18 months.
Chris Bayne, chief executive for Access, says: “Sazneo goes beyond the social media tools currently available, taking interactive
Chris Wyllie (pictured), CIO, and William Beverley, head of macroeconomic research, at Iveagh, offer their investment commentary in the wake of Italy’s election [non]result…
Back in January we identified the elections in Italy as a short term potential smoking gun for markets, which might derail progress made since the ECB stepped in to protect the euro in 2012. In addition, the near term risks of a market correction continue to rise in 2013 after the best January rally in world equity markets since 1994, with signs of investor complacency emerging, and profit forecasts also under pressure.
Nevertheless, our macro
The New Zealand Venture Investment Fund expects to commit to two to three new venture capital funds over the next few years, following the government’s decision to provide a new NZD60m underwrite facility.
NZVIF chief executive Franceska Banga (pictured) says the underwrite is not a new allocation of capital but it provides NZVIF with additional capacity to commit to new venture capital funds.
“The underwrite facility is unlikely to be called, but it provides greater flexibility in the way that NZVIF manages the NZD160m which has previously been allocated to the venture capital programme,” he says. “It allows NZVIF to
TriLinc Global is launching the TriLinc Global Impact Fund, a non-traded impact investment fund focused on achieving both a competitive financial return as well as a positive and measurable economic, social and/or environmental impact.
TriLinc intends to use the net proceeds from this first-of-its-kind offering to invest, through a global network of local sub-advisers, in small and medium sized enterprises (SMEs) in carefully selected countries with growing economies.
The company expects to build a diversified portfolio of financial assets including direct loans, convertible debt instruments and trade finance and anticipates that a substantial portion of its assets will consist of
Trac ID Systems, a provider of RFID solutions for asset tracking and process optimisation in the oil and gas industry, has completed a EUR3m round of funding led by Northzone.
Trac ID’s main value proposition to the oil and gas industry is significant annual cost savings and improved safety by enhancing lifecycle management and visibility of all rig assets through automated tracking.
The company’s products can easily be configured to solve challenges within manufacturing control, stock management, transport tracking, and inspection/maintenance handling. The products are designed for flawless operations in rough offshore environments, and initial focus is the oil and
NBGI Private Equity has acquired Stiplastics for an undisclosed sum.
Stiplastics is a manufacturer of injection-moulded plastic dosing, packaging solutions and medical devices for the pharmaceutical industry including pillboxes, medication blister packs, and “tamper proof” systems.
The company employs around 70 staff and operates production facilities in Beauvoir en Royans, France.
NBGI will support the company’s existing management team, which has ambitious plans to almost double revenues in the next five years, from EUR12.5m in 2012 to EUR23m in 2017. The strategy is to expand Stiplastics’ range of products and to leverage its reputation and relationships around the world. Over
Absolute return (AR) strategies appear to be gaining acceptance and momentum among financial advisers, according to the Brinker Capital’s Q4 Brinker Barometer survey.
Almost half (48 per cent) of advisers said they already use AR strategies in their client portfolios, nine per cent said they do not but plan to do so this year, and 46 per cent of those who indicated use of AR noted they will increase their allocation in 2013.
Sixty-five per cent of respondents said they view AR as a complement to relative return strategies, versus 23 per cent who position it as part of a
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