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This month marks the 20th anniversary of Archangel Informal Investment, which was founded by two Scottish entrepreneurs, Mike Rutterford and Barry Sealey.
Over the past two decades the business angel syndicate has supported more than 70 Scottish companies, investing GBP174m in the businesses.
Established in Edinburgh in 1992, after its founders recognised that to encourage Scottish business start-ups, it was paramount to have private investment properly channelled by experienced dealmakers.
One American academic, Professor Robert Wiltbank of Willamette University in Oregon, has suggested that it is the oldest angel investment group in the world. It is also Scotland’s biggest
Business Growth Fund (BGF), established to help the UK’s fast growing smaller and medium sized businesses, has appointed John Swarbrick as its head of portfolio.
He will be joining immediately to play a key role in overseeing BGF’s growing portfolio of high growth entrepreneurial businesses.
Stephen Welton, chief executive of BGF, says: “We are delighted that John is joining BGF. He brings with him a wealth of experience from his 15 years with LDC, a firm with a great and long-standing track record of successfully investing in the UK, and from his time in industry before that.”
Swarbrick has a
As the West increasingly looks to the Mena region for new business, Fiona Le Poidevin (pictured), Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry, looks at what the West has to offer in the form of the well-established fund domicile of Guernsey.
As the promotional agency for Guernsey’s finance industry, making a visit to Dubai in the final quarter of the year to exhibit at SuperReturn Middle East has become a familiar part of our marketing activity in recent years.
We are reminding private equity managers in the Middle East that Guernsey has established
Chinese equities are starting to catch up after underperforming the global market for two years, says Jian Shi Cortesi (pictured), fund manager of the JB Chindonesia Fund at Swiss & Global Asset Management…
From a macro perspective, recent economic figures from China have been a pleasant surprise, monetary policy has become more accommodating and moderate government stimulus in infrastructure is supporting a gradual improvement of China’s economy. On the micro side, industrial profit growth picked up in September and domestic prices of major commodities have bottomed out or started rising again. All these positive factors could lift the MSCI China Index,
The offshore M&A market was one of the few world markets to have experienced growth in the cumulative value of transactions in Q3 2012 compared to the same period last year, according to a report released by Appleby.
The latest edition of Offshore-i, the firm’s quarterly report which provides data and insight on merger and acquisition activity in major offshore financial centres, focuses on Q3 2012.
In the third quarter of 2012 there was a 10 per cent drop in the volume, and a 17 per cent drop in the value, of transactions that took place offshore compared to Q2.
MNX, a provider of transportation and logistics services, has been acquired by private equity firm The Riverside Company.
The deal will provide MNX with the ability to fund future expansion and acquisitions.
"MNX’s compelling service offerings and continued international expansion have contributed to a strong pipeline of opportunities that position the company for growth," says MNX chief executive Scott Cannon. "Riverside has a stellar reputation for helping companies accelerate development. We believe the acquisition marries nicely with our existing expansion plans while also benefiting our existing customers and employees. We could not be more thrilled about the opportunities presented by
Grant Thornton has appointed Michael Patanella as leader of its national asset management sector.
“Michael’s expertise and vast knowledge of asset management will be key as we continue to drive growth in this area of our financial services practice,” says Jack Katz, Grant Thornton’s Northeast region managing partner, New York Cluster managing partner and national financial services managing partner.
Patanella (pictured) has more than 15 years of public accounting experience, serving a wide range of financial services companies. His former and current clients include hedge funds, private equity firms, clearing and introducing brokers, mutual funds and exchange-traded funds. He authors
Eighty per cent of the 300 financial officers from large European companies taking part in Greenwich Associates 2012 European Trade Finance Study — and nine out of 10 from companies in the FT 500 — expect pricing on trade finance products and services to increase as a result of the implementation of Basel III.
“In light of the funding and capitalisation issues facing European banks, large companies are not only concerned about pricing on trade finance services, they are also keeping an eye on banks’ shrinking risk appetite and the availability of trade finance in their important markets,” says Greenwich
Edmond de Rothschild Investment Partners’ portfolio company Vessix Vascular has been acquired by Boston Scientific in a deal worth up to USD425m.
Of this, USD125m will be paid at the closing with the balance upon achievement of certain clinical and sales milestones.
Vessix has developed a catheter-based renal denervation system for the treatment of uncontrolled hypertension.
Edmond de Rothschild Investment Partners holds a significant stake in Vessix in which it invested USD10m in June 2011 generating a return multiple of up to 10x.
Raphaël Wisniewski, Edmond de Rothschild Investment Partners’ representative on Vessix’s board, says: "We are proud to have
Maitland, a provider of fund administration, multi-jurisdictional legal, tax, fiduciary and investment advisory services, has acquired Admiral Administration.
Admiral is a hedge fund administrator with offices in the Cayman Islands; Dublin, Ireland; Halifax, Nova Scotia; and Richmond, Virginia.
It combines best of breed technology including Advent Geneva, Advent Partner and Paladyne with qualified staff to provide clients with a customised solution to meet the specific needs of the alternative investments industry including hedge funds, private equity funds, Ucits and other regulated funds.
The acquisition of Admiral supports Maitland’s strategy of targeted growth, expanded global reach and leadership in the fund
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