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JZ Capital Partners (JZCP), the London listed private equity fund which invests in US, European and Latin America micro cap companies, deployed a total of USD130.8m across 17 new investments during the six months to the end of August 2012.
JZCP made USD85.7m of new investments across all industry verticals in the US micro-cap portfolio, increasing the size by 41 per cent to USD289m.
Investments in the European Micro Cap Fund (EMF) meanwhile, reached USD81.3m representing 14 per cent of total assets, following EMF’s EUR13.5m investment in Oro Direct – a precious metals trading business in Spain.
JZCP also completes
FSAstore.com, an e-commerce site exclusively stocked with Flexible Spending Account (FSA) eligible products and services, has closed its second round financing of more than USD2m.
The financing, led by Originate Ventures, includes investment from previous investors Point Judith Capital and Columbia Business School Lang Fund, as well as additional angel investors.
The funding will be used to accelerate sales, marketing and development initiatives, as the company continues to expand to meet growing consumer demand for its products and services.
FSAstore.com enables consumers with Flexible Spending Accounts to use their tax-free dollars to purchase more than 6,000 healthcare products and browse
New Silk Route, an Asia-focused private equity and growth capital firm founded in 2006 with USD1.4bn under management, has appointed William I Campbell as senior operating adviser.
Campbell (pictured) has held leadership roles at the many of the world’s largest companies. His new role at New Silk Route will involve identifying global opportunities for the firm’s robust portfolio of investments.
Parag Saxena, founder and chief executive of New Silk Route, says: “We are fortunate to have someone of Bill’s stature at NSR. His experience leading global businesses, such as Citicorp’s global retail franchise and Philip Morris’ packaged goods business in
Guernsey Finance has welcomed the announcement from the island’s government that it is seeking to negotiate a partnership agreement with the US to implement the Foreign Account Tax Compliance Act (FATCA).
The governments of Guernsey, Jersey and the Isle of Man have simultaneously announced their intention to negotiate their own individual agreements which will follow the model intergovernmental agreement published by the US Government on 26 July 2012 and will be similar in form to the agreement between the UK and the US signed on 12 September 2012.
Fiona Le Poidevin (pictured), chief executive of Guernsey Finance – the promotional
Guinness EIS 4 – a discretionary managed service that will invest in UK sustainable energy companies through the tax-efficient EIS structure – is now open for investment.
Guinness EIS 4 is targeting attractive risk-weighted returns by making investments in sustainable energy companies which have predictable revenues, low technology risk and low correlation with other asset classes.
Guinness has identified investment opportunities in renewable energy and energy efficiency companies which have these investment characteristics. Renewable energy investment opportunities include solar photovoltaic and biomass projects, while energy efficiency projects focus on reducing energy costs in office and commercial buildings. The firm
Mark Florman (pictured), Chief Executive of the BVCA, has responded to George Osborne’s announcement on owner employees…
This is a great step towards putting the entrepreneurial zeal back into Britain, providing an opportunity to employers, employees and so many of those desperately looking for work.
We need to make it as easy as possible for all businesses, but especially small businesses, to take on new staff and boost productivity. This policy should enable Britain’s start-ups and many of our most exciting companies to do just that. A new generation of owner-employees will enter the labour market as shareholders, giving everyone
An affiliate of private equity investment firm Paine & Partners has entered into a definitive agreement with Aquanova International, a company controlled by Global Capital Investors II, a private equity fund advised exclusively by Global Finance, as well as with Bellaria Holding, for the sale and purchase of majority ownership of Eurodrip.
Under the agreement, the Paine & Partners affiliate would purchase all of the shares of Eurodrip currently held by Aquanova International and Bellaria, which represent approximately 67.5 per cent of the company’s outstanding shares, for a price of EUR1.53 per share.
The purchase price represents a premium of
The Isle of Man’s Department of Economic Development has appointed John Spellman as director of financial services with immediate effect.
Colin Kniveton, chief executive officer of the Isle of Man’s Department of Economic Development, says: “John has worked with the department for a number of years in a special advisor role and going forward he will work with an increased focus on the finance sector to drive its development. He has wide experience across many financial services sub sectors and disciplines and latterly has worked with the Isle of Man Government on generating strategic opportunity for the industry.”
Spellman
Roark Capital Group, an Atlanta-based private equity investment firm, has closed its third private equity fund, Roark Capital Partners III, with capital commitments of USD1.5bn.
RCP III included strong support from existing Roark investors and a number of new investors, including endowments and foundations, public and corporate pension funds, sovereign wealth funds and family offices.
Roark’s prior fund, Roark Capital Partners II, is a USD1bn partnership that commenced in 2008. With the closing of RCP III, Roark now has approximately USD3bn in equity capital under management.
"We are thankful for the continued support from our existing investors and are pleased
Graphite Capital (UK), Activa Capital (France), ECM (Germany) and MCH (Spain) have launched the Private Equity Network (PEN), a pan-European network of mid-market private equity firms.
The Private Equity Network brings together the strong local expertise of European mid-market firms with the primary aim of building international portfolio companies.
The priorities of the Private Equity Network are to:
Assist with European buy-and-build projects: increasingly, European mid-market investments are looking to build their presence outside their national territories. PEN members will help each other’s portfolio companies to expand within Europe through their respective sector knowledge and network of local advisers and
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