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3i-backed SLR Management, the international environmental consultancy, has acquired GSS Environmental, an Australian provider of environmental consulting and project management services to clients in the mining, minerals, land development and natural resource sectors.
GSS Environmental is a top three environmental consultant to the coal extraction industry in Australia, having advised on approximately 60 per cent of Australia’s coal mines, which counts BHP Billiton, Rio Tinto and Xstrata amongst its clients. With turnover for the period ended 30 June 2012 of GBP5m, it has 50 employees operating from offices in Newcastle, in New South Wales, and Mackay, in central Queensland.
The
Recent improvements in the US economy could give Barack Obama the edge over Republican rival Mitt Romney, says Marcus Bullus, trading director at MB Capital…
If President Obama looked on the ropes in Wednesday’s Presidential debate, the economy has just hit his opponent with a sucker punch.
For the first time in 44 months, the unemployment rate has dropped below 8%, a symbolic threshold over which the Republicans have repeatedly baited the President.
Job creation is powering ahead and unemployment is falling, even if there is continued weakness in America’s manufacturing sector.
House prices are rising and consumer confidence has
Palatine Private Equity portfolio company Air Energi Group has completed a management buyout led by LGV Capital.
The deal sees LGV acquire a majority interest in the business. HSBC provided a senior debt package and various increased working capital facilities globally.
Palatine Private Equity, Air Energi Group’s previous investor, has exited the business after three years. During the period of their investment, the business has more than doubled net profitability.
Ian Langley, Air Energi Group chairman, says: “We are very pleased to complete this buyout transaction following a positive investment experience for Palatine and all of the shareholders in the
The Dutch Parliament has approved a law that implements the Alternative Investment Fund Managers Directive (AIFMD).
The Netherlands is the first European country to implement this new piece of regulation created to limit risks for investors in those alternative investment funds.
According to a KPMG survey, the Netherlands is now among the top-rated countries as potential business location for asset managers and their funds.
The AIFMD deals with stricter EU regulation on alternative investment fund managers offering alternative investment funds, ranging from hedge and private equity fund products to real estate investment funds.
The fast implementation is the result of
Morrison & Foerster has appointed Jeremy Hunt as a partner in the corporate practice in the firm’s Hong Kong office.
Hunt (pictured) represents private equity firms and other investors and advisors in mergers and acquisitions, private equity investments, and related matters.
Hunt, who joins the firm from Allen & Overy, where he spent his entire 24-year legal career, brings a wealth of experience advising on capital investments, pre-IPO financings, and leveraged buyouts.
His addition—together with the recent arrivals of corporate partner Thomas Man in Beijing, Melody He-Chen and John Moore in Hong Kong, and the promotion of Gregory Wang, also
Alternative asset manager The Carlyle Group has appointed Joseph A Schenk, former Jefferies Group chief financial officer and most recently chief executive officer of First New York Securities, as an operating executive in the global financial services group.
Schenk will provide strategic guidance to Carlyle professionals throughout the investment process, from sourcing to acquisition to exit, and advise portfolio company executives on management, operational and growth strategies.
He joins a group of 27 senior business leaders – with an average of 40 years of experience – who serve as Carlyle operating executives across a range of industries.
Olivier Sarkozy, Carlyle
Apollo Global Management has priced ALM VII, a USD722m collateralised loan obligation (CLO), the largest broadly syndicated CLO issued in the US in 2012.
ALM VII will invest in corporate leveraged loans and high yield bonds.
Apollo has priced three CLOs this year, raising approximately USD1.7bn in aggregate, which represents the largest capital raise through CLO issuance among all US CLO managers. In February 2012 Apollo closed ALM V, a USD437m CLO, and in June 2012 Apollo closed ALM VI, a USD514m CLO.
Apollo is one of the largest CLO managers with 26 CLOs totalling over USD14.5bn in assets under
HM Government of Gibraltar has signed a Tax Information Exchange Agreement with the Government of the Italian Republic.
The minister with responsibility for financial services, Gilbert Licudi QC, signed the agreement at the London Embassy of the Italian Republic. Ambassador Alain Giorgio Maria Economides signed on behalf of the Italian Government.
Minister Licudi said he was “particularly pleased to have signed this Tax Information Exchange Agreement with Italy. This Agreement brings the total of such agreements signed to 21, with 18 of those having already entered into force. It also underscores the Government’s commitment to international standards of cooperation.
“I
Graphite Capital, a UK mid-market private equity specialist, has sold NES Global Talent, the international technical recruitment group, to funds advised by AEA Investors for GBP234m.
NES places highly skilled contract engineers and project managers with blue chip, multi-national clients, principally in the oil and gas industries, and also in the power and infrastructure sectors.
Graphite backed a management buyout of the business, led by Neil Tregarthen, in September 2006 at an enterprise value of GBP70m.
NES has grown EBITDA organically every year since the MBO despite the difficult economic climate. Net fee income has more than doubled
Maples and Calder recently welcomed six new funds partners to its Cayman Islands office.
Heidi de Vries, Julian Ashworth, Sheryl Dean, David Marshall, Philip Millward and Gwyneth Rees join associates Greg Barwick, Philip Dickinson, Patrick Head and Lucy Nicklas, who commenced employment in August.
Tim Clipstone, a partner in the British Virgin Islands office, started in June.
"We are excited to welcome this latest round of hires to our team," says Jon Fowler (pictured), the firm’s global head of the funds group. "Their joining our firm underlines Maples and Calder’s position as the premier law firm in the Cayman Islands.
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