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US-based Navatar Group is a leading provider of cloud computing for Wall Street firms, but increasingly that client base is widening out to alternative investment managers as they start to fully appreciate the benefits of cloud systems and how they can streamline their operations.
Speaking with Hedgeweek, Alok Misra (pictured), co-founder and principal of Navatar Group, says that the acceptance of cloud computing among hedge fund and private equity managers is growing “month by month”. “A year or two ago people were still asking questions around data security, but I think those worries have now largely disappeared.
“Most alternative managers
Synerlab, a French pharmaceutical contract manufacturing firm, and AXA Private Equity have acquired Lyofal and IDD-Tech Orleans.
Lyofal, a company founded and managed by Jean-Luc Allemand, specialises in custom-lyophilisation (freeze-drying) while IDD-Tech Orleans specialises in the development of solid dosage forms.
With these acquisitions, Synerlab reinforces its leading market position and becomes a company with five sites, employing 700 people, and a turnover of EUR85m.
Lyofal’s longstanding expertise and excellent facilities will allow the Synerlab Group to extend its range of products and enter the attractive and growing lyophilization market. Synerlab will also benefit from Lyofal’s strong client portfolio, which
Palamon Capital Partners has appointed John David as managing director, investment strategy.
David joins Palamon’s pan-European team, all based in London, to advance the firm’s thematic investment model which proactively identifies and partners high growth service businesses across Europe.
David joins Palamon from Allstate Investments where he spent seven years, latterly as global strategist and head of the London office.
Previously, he was a senior portfolio manager for seven years at Northwestern Investment Management Company. This followed a ten year career in derivatives research and trading roles with top-tier global financial institutions.
Louis Elson, managing partner of Palamon,
Advent International has completed fundraising for Advent International GPE VII Limited Partnership with total subscriptions of EUR8.5 billion (USD10.8 billion), making it the largest buyout fund raised since September 2008.
The new fund will pursue the same successful strategy as Advent’s six prior GPE funds – partnering with management teams to enable business transformation through revenue and earnings growth. Advent GPE VII will focus primarily on the developed markets of North America and Western Europe and selectively on other global markets.
“We are very pleased with the strong reception that Advent GPE VII has received in a highly competitive
A study by Deutsche Börse and CMS Hasche Sigle analyses the valuation approaches applied to private sector investments in Chinese companies.
This is the second joint study on private equity in China. It is to be presented at the German Equity Forum in Frankfurt on Monday.
“Our study confirms that the valuation standards developed in western markets cannot automatically be applied to companies in China, as factors such as due diligence play a major role in addition to key financial figures,” says Volker Potthoff of CMS Hasche Sigle. “PE/VC investors have also adapted the sectoral focus to the changed macroeconomic
Law firm Taylor Wessing has advised Rutland Partners on the acquisition of Pizza Hut’s UK dine-in restaurant business from Yum! Brands, the global owners of the Pizza Hut brand.
In the deal, Rutland acquired the share capital of Pizza Hut UK, the company which owns 330 dine in restaurants and will operate them under a franchise agreement from Yum!
Rutland will invest GBP20m in support of a broad GBP60m refurbishment and restructuring programme of the business.
Yum! will continue to act as franchisor for the dine in business whilst also growing the Pizza Hut delivery business in the UK.
Nick
BNY Mellon has been granted a commercial banking licence by the Brazilian Central Bank that will enhance the company’s securities servicing capabilities in the country.
The licence has been granted to BNY Mellon Banco SA.
BNY Mellon will initially offer custody services for non-resident investors and private equity funds, as well as deposit-taking, collateral and agency services through its corporate trust business.
"Brazil represents one of our most important strategic markets globally and our new banking licence will significantly enhance our ability to meet the securities servicing needs of our clients," says Gerald Hassell, chairman, president and chief executive
Law firm Clifford Chance has advised CCM Pharma Midco, a vehicle formed by Cinven Funds, on its purchase of Amdipharm.
The transaction values Amdipharm at GBP365m.
Amdipharm is a family-owned international niche pharmaceuticals business founded by Bhikhu and Vijay Patel, which buys "legacy products" – typically off-patent generic drugs in niche disease areas.
Cinven client relationship partner Jonny Myers says: "Clifford Chance is delighted to have advised Cinven on this deal, the second acquisition we have worked on together in as many months."
In August the firm acted for Cinven on its acquisition of the generics business Mercury Pharma. The
Citi has completed the implementation of Man Umbrella Sicav, the Luxembourg fund business of the Man Group.
Citi will provide an integrated range of services that includes custody, depositary bank, fund administration and transfer agency services.
Man is an alternative investment management business with over USD52.7bn under management.
Man appointed Citi to provide its global shareholder services in March 2011 and this new mandate builds on the success of the collaboration between the two institutions.
"Citi’s deep understanding of Man’s business as well as its proven track record of service delivery were decisive factors in our decision to
Growing concerns about the economy are curbing corporate expansion plans, according to the latest analysis by the Finance M&A panel conducted jointly with CMS Hasche Sigle.
CMS Hasche Sigle polls the heads of the transaction departments at major German companies plus leading investment bankers and M&A consulting firms for their market assessment three times a year.
The key finding is that the “hunger” for deals has declined, while expansion-related deal aspects are in many cases much less important now than in previous surveys.
On average, respondents assessed the availability of acquisition financing over the past 12 months as stable. Investment
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