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In 2013 at least one European next-generation technology company will achieve a USD1bn value through a sale, IPO or fundraising.
This prediction from Magister Advisors, global M&A advisers to the technology industry, reflects how quickly the next wave of European tech companies is maturing into high value businesses.
The momentum has been building for several years. VC-backed technology exits in Europe in 2009-10 reached a high water mark against the US, with European exits having a value of around USD15bn against USD30bn in the US. What is more striking is the differential in funding levels. In the US in
The Financial Stability Board (FSB) has published for public consultation an initial integrated set of policy recommendations to strengthen oversight and regulation of the shadow banking system.
The “shadow banking system” can broadly be described as “credit intermediation involving entities and activities (fully or partially) outside the regular banking system” or non-bank credit intermediation in short.
The FSB has focused on five specific areas in which the FSB believes policies are needed to mitigate the potential systemic risks associated with shadow banking:
• To mitigate the spill-over effect between the regular banking system and the shadow banking system;
• To
As the FSA launches a two-part consultation to transpose the Alternative Investment Fund Managers directive (AIFMD) into UK law, Deloitte, the business advisory firm, says the policy positions taken will affect how the directive applies to investment trusts, hedge fund managers and private equity managers.
Brian Forrester (pictured), partner at Deloitte, says: “This is an important step towards the implementation of the Directive into UK law. The FSA appears to be warning the industry that more managers than previously thought could be caught, however, the regime for smaller firms is still in the hands of the Treasury and we will
IFG Trust and Corporate Group has acquired Jersey-based Moore Group.
This is the first acquisition since the group’s MBO in July this year when it separated from IFG Group Plc.
Growth is one of the group’s main objectives and the purchase of the Moore Group, which has administers assets in excess of USD17bn, will significantly expand its existing fund administration business both in terms of product set and geographical reach especially in the Far East.
Moore was established by Ian Moore (pictured) in 1996. Ian Moore will continue to work with the group and will assume the role of
The Resolute Fund II SIE, an affiliate of The Jordan Company, has partnered with the management team of Sequa Automotive Group to purchase the business from its parent company, Sequa Corporation, a diversified industrial company with operations in aerospace and metal coatings.
Financial terms of the transaction were not disclosed.
Sequa Auto is a supplier of highly engineered automotive components. The company operates under two business segments: Casco Products Corp and ARC Automotive. Casco is a leading supplier of automotive power outlets, connectivity devices and sensors. ARC is a leading independent provider of airbag inflators, the critical component in a
Breathing Buildings, the natural ventilation specialist, has secured second round funding to expand its business both in the UK and internationally.
The energy-saving potential of the company’s unique e-stack ventilation system is well recognised and this latest investment will enable Breathing Buildings to embark on its plan to substantially grow the business.
In the UK new sales team members are being appointed across the country and the recently announced partnership with Price Industries will see the company expand further into the US market.
The funding comes to Breathing Buildings from three very different organisations.
First, the Berti Green Accelerator programme,
Haddington Ventures has closed its latest private equity fund, Haddington Energy Partners IV (HEP IV), with total committed capital of nearly USD350m targeted for investments in midstream energy infrastructure.
According to senior managing partner Chris Jones, HEP IV is targeting conventional midstream opportunities and is seeking to invest in experienced midstream management teams with proven track records of success in entrepreneurial environments.
"HEP IV clearly demonstrates Haddington’s commitment to building infrastructure in the midstream energy business by investing in entrepreneurs with the skills to create and grow world-class midstream projects and companies," Jones says. "These management teams require strong leaders
DCG Luxembourg managing director Daniela Klasén-Martin (pictured) says the new risk management requirements introduced by this year’s revision of the grand duchy’s SIF law are only the start for asset managers that fall within the scope of the EU’s AIFM Directive…
On March 26 Luxembourg’s parliament passed legislation amending the Specialised Investment Funds Law of February 13, 2007. Among other changes, the new law has introduced the requirement to develop and implement a risk management process and a conflict of interest policy, pre-empting some of the requirements that are further set out within the Alternative Investment Fund Managers Directive.
Anand Prasanna will be joining Morgan Creek in December 2012 as a director on the global investment team based in the firm’s Shanghai office.
As part of Morgan Creek’s Asia team, Prasanna (pictured) will be covering the firm’s activities in private investments in Asia with a particular focus on India.
Prior to joining Morgan Creek, Prasanna was a senior investment professional at Squadron Capital, a Hong Kong-based private equity group focused on the Asia Pacific region.
He has had extensive work experience, including high profile firms McKinsey and Sequoia Capital in India, where he was able to build a strong
The inclusion of Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs) in the FSA’s proposals to restrict the distribution of Unregulated Collective Investment Schemes (UCIS) and non-mainstream pooled investments will seriously limit client portfolio diversification opportunities, according to alternative investment boutique Future Capital Partners (FCP).
The changes suggested in CP12/19 will limit access to more alternative investments that have the potential for greater returns and will stifle investment into entrepreneurial companies which drive the economy forward, according to Piers Denne, director of sales at FCP.
“The forthcoming Retail Distribution Review (RDR) will deal with most of the issues
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