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Total assets under management held by private equity funds worldwide have reached USD3 trillion for the first time, highlighting the sustained growth of the industry despite challenging wider economic conditions, according to research conducted by Preqin for the 2012 Private Equity Performance Monitor.
The figure is calculated using unrealised portfolio value and the dry powder (uncalled capital) available to private equity funds across the whole scope of the asset class.
Industry assets under management increased by nine per cent from December 2010 to December 2011.
Buyout funds account for approximately 40 per cent of the industry’s assets – USD804bn in
Silk Road Finance has launched Mandalay Capital, a Myanmar-focused investment banking firm.
The new Myanmar-dedicated venture is to advise international clients and partners on their planned investments in Myanmar as well as build relationships with Myanmar institutions and companies and assist them with capital raising and strategic advisory.
Strategically located between China and India, Myanmar is currently undergoing historical transformation from the long-isolated state with its economy crippled by sanctions into the nation that could become one of the most prosperous in Asia with the successful process of democratisation and market reforms.
Earlier this month the US administration issued
Julian Skingley, partner in financial services at Ernst & Young EMEIA, comments on the recent FATCA intergovernmental agreements (IGAs)…
The announcements from the IRS today will be welcomed by the financial services industry, particularly those domestic institutions in the EU5, as they include crucial concessions on timescales, scope and documentation requirements. It’s encouraging that the respective governments have listened to the concerns of the financial services industry and, although the task of implementing FATCA remains substantial, it now at least looks more achievable. As ever with FATCA, the good news for some organizations opens up a whole new raft of
The total number of trade acquisitions for quarter two 2012 is up 17.3 per cent on quarter two 2011 from 371 to 435, according to the latest results from BDO’s Private Companies Price Index and Private Equity Price Index.
Over the last 12 months (to Q2 2012) private company deal volumes were up 21.2 per cent on the previous 12 month period from 1,492 to 1,809.
Trade buyers paid an average price/earnings multiple of 13.3 times in the second quarter, the highest multiple since Q3 2007, compared to 11.5 times in Q1 2012 and 10.8 times in Q2 2011.
The
CitySprint, a UK same day distribution network, has completed its sixth acquisition since it was backed by Dunedin, the UK mid-market private equity house, in 2010.
CitySprint has acquired the same day courier, UK overnight and international operations of Scarlet Couriers.
CitySprint is on track to deliver GBP100m of revenues in 2012.
Nicol Fraser, director at Dunedin who sits on CitySprint board, says: “Dunedin continues to build value through acquisitions and organic growth. Scarlet Couriers represents the sixth strategic acquisition undertaken by Citysprint in the last 18 months and the 12th by Dunedin portfolio companies in total.”
The
Maitland, the international wealth and fund services firm, has acquired 100 per cent of Inter-Ocean Management, a corporate services and trust company based in Mauritius.
The deal takes effect from 1 July 2012.
Over the past five years, Mauritius has transformed itself into a springboard for trade and investment into Asia and the fast-growing markets of Africa. Mauritius’ favourable tax regime and wide international double tax and bilateral investment treaty network makes it a sought after jurisdiction for the establishment of international holding companies and trusts for international corporations and individuals. It is also a suitable jurisdiction for the establishment
Odyssey Investment Partners has acquired L-com, a provider of wired and wireless connectivity products to original equipment manufacturers, system integrators and network installers.
Financial terms of the transaction were not disclosed.
Headquartered in North Andover, Massachusetts, L-com’s customers are typically design and network engineers who are responsible for specifying connectivity equipment into mission-critical applications. L-com offers over 10,000 SKUs across a broad range of product categories, including cable assemblies and connectors, wireless local area network access points, and associated RFID support products.
L-com has manufacturing and sales facilities in Suzhou, China, Boca Raton, Florida and North Andover, MA and its
AXA Private Equity, the European diversified private equity firm, has signed an agreement with the management team of Fives Group, led by Frédéric Sanchez, to acquire a stake in the company.
As part of the same transaction, the management team becomes the majority stakeholder as Fives enters the next phase of its development. As a result, previous owner Charterhouse now fully exits its stake in the company.
Since rebranding as Fives in 2007, the group has grown to become a major player in sustainable industrial development. Fives designs and supplies production lines and ready-to-work factories for the world’s largest industrial
United Initiators has acquired Syrgis Performance Initiators (SPI) from Syrgis Performance Products, which is owned by Edgewater Capital Partners.
SPI is a manufacturer of customer tailored formulations of ketone peroxides in North America and Europe and benzoyl peroxides in North America. Both products are organic peroxide initiators used in the production of thermoset composite materials.
Headquartered in the US, SPI has a global reach with manufacturing locations in the US and Sweden in addition to trading operations in Shanghai. In 2011, SPI had total net sales of approximately USD50m.
Acquiring SPI will enable United Initiators to expand
Independent private equity house Key Capital Partners has supported the GBP15m management buy-out of nursing and care staffing specialists Nurse Plus.
Established in 2005, Nurse Plus specialises in staffing solutions for domiciliary care and the provision of temporary professionals to the healthcare sector, including learning disability and mental health units, schools, prisons, hospitals and care homes.
Canterbury-based Nurse Plus operates from a network of 26 branches in the UK and manages over 1,000 temporary workers. The firm maintains its own in-house training facilities for regular training courses for its staff and is licensed to provide services by the Care
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