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The European Securities and Markets Authority (ESMA) has approved the co-operation arrangements between the Swiss Financial Market Supervisory Authority FINMA and the EU securities regulators for the supervision of alternative investment funds, including hedge funds, private equity and real estate funds.
ESMA has negotiated the agreement with FINMA on behalf of all 27 EU national competent authorities for securities markets regulation.
The co-operation arrangements include the exchange of information, cross-border on-site visits and mutual assistance in the enforcement of the respective supervisory laws. This co-operation will apply to Swiss alternative investment fund managers (AIFMs) that manage or market alternative
Business Growth Fund (BGF), established to help the UK’s fast growing smaller and medium sized businesses, has invested GBP6.25m of growth capital for a minority stake in London-based Peyton and Byrne, the restaurant group, retail bakery and events business.
Peyton and Byrne operates in three distinct areas. It currently operates restaurants at eight iconic London visitor attractions including The National Gallery, the Royal Academy of Arts and Kew Gardens.
Peyton Events provides catering for private functions at 20 high profile venues in London such as The Wallace Collection and Lancaster House.
The business also runs retail bakery and café outlets
Dunedin, the UK mid market buyout house, has backed the management buyout of Premier Hytemp, a specialist in the manufacture and supply chain management of quality engineered alloy components for the offshore and onshore oil and gas industry.
The group was acquired from Murray International in a GBP34.5m transaction.
The deal comes just days after Dunedin announced its exit from conference and training venues business etc.venues, which saw Dunedin realise a money multiple of more than 3x on its investment.
Premier Hytemp is headquartered in Edinburgh with manufacturing facilities in Edinburgh, Sheffield and Singapore. Premier Hytemp also has
Gibraltar has signed a Tax Information Exchange Agreement (TIEA) with Mexico, the 22nd TIEA agreed by the Government of Gibraltar.
Gibraltar’s minister with responsibility for financial services, the Hon Gilbert Licudi (pictured), MP, signed the TIEA, which had already been signed in Mexico City by Mexico’s Minister of Finance and Public Credit, His Excellency Jose Antonio Meade Kuribreña.
Minister Licudi stressed the importance of the conclusion of this agreement with the United Mexican States especially as Mexico is such an important member of the G20.
Shares in Uganda’s electricity distributor, Actis-backed Umeme, have begun trading on the Uganda Securities Exchange (USE).
Uganda’s Vice President, Hon Edward Ssekandi rang the bell on the IPO at a special event at the Kampala Sheraton, to which the USE had relocated for the day.
The stock closed at a weighted average price of Ugandan shillings 275, unchanged on the offer price.
The IPO of Umeme, which has been an Actis investment since 2005, was oversubscribed by 37 per cent, with particular demand from East African institutions and Ugandan retail customers. The offering, which closed on 7 November, is
The Chief Minister of Guernsey, Deputy Peter Harwood (pictured), and the Chief Minister of Jersey, Senator Ian Gorst, have released a joint statement following their recent meeting with officials from HM Treasury in relation to UK proposals to introduce similar measures as the US Foreign Account Tax Compliance Act (FATCA).
The statement reads:
“The Crown Dependencies are well advanced in their negotiations with the USA regarding the Foreign Account Tax Compliance Act (FATCA) and are awaiting the publication of the final US Regulations promised before the end of the year.
“Reflecting the interest being shown by the OECD and the
Private equity firm Avista Capital Partners has completed the sale of Anthony International, a manufacturer of glass doors and related products serving the commercial refrigeration market, to Dover Corporation for USD602.5m, subject to normal closing adjustments.
Since Avista acquired Anthony in June 2011, the company has achieved significant growth. Anthony’s "close that case" initiative, which allows retailers to deliver on their energy efficiency and sustainability goals by enclosing open refrigerated cases with Anthony doors, has helped to drive the company’s strong performance. Anthony has also created meaningful value through international growth and the acquisition of BiG Services, a regional installation
CAF – development bank of Latin America – has signed agreements with three Mexican investment funds to promote SMEs, as part of a strategic alliance with NAFIN and other Mexican development banks.
Funding recipients are Mexico Fund of Funds II, Adobe Social Mezzanine Fund I and Evercore Mexico Capital Partners Fund III, in which CAF will make equity investments.
For 18 years, Mexico has been pursuing a policy of promoting entrepreneurship, venture capital and SMEs, all areas in which CAF has vast experience in Latin American countries.
The three agreements were signed during CAF president Enrique Garcia’s official visit to
The Baronsmead VCTs have launched new offers to raise up to GBP30m in aggregate, before costs.
Investors can choose to invest equally across the offers or different amounts in one or more of the offers.
The five Baronsmead VCTs were established between 1995 and 2006 and each has an existing portfolio of between 49 and 71 companies.
From 13 November 1995 to 31 October 2012 the Baronsmead VCTs have raised approximately GBP343m (net of costs), providing shareholders with a combined total return of approximately GBP485m.
The dividend policy of each company is to seek to maintain a regular flow
Dunedin, the UK mid-market private equity house, has delivered its third exit in six months with an exit from its conference and training venues business, etc business.
The management team has carried out a secondary buyout of the business which sees Dunedin realise a money multiple of more than 3x on its investment.
The exit follows Dunedin’s sales of WFEL and Capula to international trade buyers earlier in the year.
With Dunedin’s backing the business has consistently grown year on year through a new venue roll-out programme and the significant expansion of its existing venues. Sales have increased from
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