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Société Générale Securities Services (SGSS) announced at this week’s Fund Forum International the launch of a turnkey solution to enable asset management companies and independent managers to create, manage and promote Ucits funds. SSGS said that the solution was aimed at global managers who don’t want to create a Ucits-registered asset management firm, instead providing them with a Luxembourg legal structure that fulfills EU regulations. The turnkey solution allows managers to create and distribute Ucits funds across all 27 members of the EU as well as offer distribution advantages in non-EU jurisdictions.
Olivier Renault, deputy chief executive and Luxembourg country
Institutional Venture Partners (IVP), a later-stage venture capital and growth equity firm, is to launch IVP XIV, a USD1 billion fund.
This is the largest fund raised in the firm’s 32-year history and brings the cumulative committed capital to $4 billion. The fund was significantly oversubscribed with IVP’s existing Limited Partners taking the vast majority of the fund.
The firm’s General Partners are Todd Chaffee, Norm Fogelsong, Steve Harrick, Jules Maltz, Sandy Miller, and Dennis Phelps (pictured). Collectively, they have more than 100 years of venture capital and operating experience.
“Over the past decade, IVP has delivered exceptional performance,”
NBGI Private Equity (NBGIPE) has acquired Horizon Care, a Midlands based specialist child care provider. NBGIPE has signalled its intention to double the size of the business through acquisitions and organic growth over the next three to five years.
Horizon Care caters for children with severe emotional and behavioural difficulties. It currently operates 13 residential care homes and three schools in the West Midlands, North West and Kent. NBGIPE has been looking to invest in the specialist children’s care market for some time, and believes Horizon Care represents a strong platform for growth as well as a great opportunity to
Pan-Euopean private equity investor Montagu Private Equity is to acquire St Hubert alongside the comany’s existing management team from Dairy Crest Group plc, for a consideration of USD430m in cash. St Hubert is a leading producer of standard and low fat spreads in France and Italy.
Founded over 100 years ago, St Hubert is one of the leaders in the spreads market. It achieved over €130m sales and produced circa 35,000t of standard, low fat and innovative spreads in the year ended March 2012. Headquartered near Paris, St Hubert has its original production site near Nancy (Lorraine) and derives a
Alternative asset management firm Black Diamond Capital Management has appointed Jean Fleischhacker as Senior Managing Director, Business Development.
Fleischhacker will lead the structuring and marketing for CLOs, other structured products, and mezzanine debt. Fleischhacker will also head new product development and play an instrumental role in strategic development and growth initiatives. She will be based in Black Diamond’s Greenwich, Connecticut office, working alongside Michael Moreno, Head of Marketing and Investor Relations and a Principal of Black Diamond.
"Jean is a seasoned and well respected industry veteran with extensive investment, product management and business development experience and we are very enthusiastic about bringing
Skrill (formerly Moneybookers), the online payment company owned by Investcorp, has agreed to acquire 100% of paysafecard.com Wertkarten AG, an Austrian provider of prepaid vouchers that enable consumers to shop online. The total consideration for the acquisition is up to EUR140 million.
Paysafecard provides a prepaid electronic payment method. People who want to pay online, but do not have access to a credit card or bank account, or do not wish to provide card details on the internet for security reasons, can visit one of the 450,000 retail outlets linked to paysafecard and convert their cash into electronic money in
Chicago Equity Partners has hired Brian Portnoy as Managing Director and Head of Alternatives and Strategic Initiatives.
In this newly formed role, Portnoy will report to the firm’s President, Patrick Lynch, and will help to lead the firm’s ongoing efforts in creating innovative solutions for the firm’s institutional clientele. The role will involve leveraging the firm’s internal equity and fixed income capabilities, as well as externally pursuing select partnerships. Previously, Portnoy served as Portfolio Manager and Director of Research at the Vestian Group, Associate Head of Hedge Fund Research at Mesirow Advanced Strategies, and Senior Analyst at Morningstar. He received
Due to the lacklustre performance in the equity and debt markets in recent years, investments in hedge funds and other alternative investment vehicles are becoming increasingly attractive to retirement plan trustees and investment committees.
At the same time, fund managers are eager to manage retirement fund assets since:
1) there are a vast amount of assets being held in pension plans (USD11 trillion dollars of plan money as of 30 September, 20111) and;
2) there is typically a long investment horizon for such assets.
However, the Employee Retirement Income and Security Act of 1974, as amended (ERISA), the Internal Revenue
Sixty five per cent of managers and partners in the US venture capital industry are more confident and optimistic about the economy today as compared to a year ago, despite ongoing economic worries in Europe, according to a new survey by Polachi.
The findings of Polachi’s Venture Capital Confidence Survey are in stark contrast to other CEO confidence surveys from this month, the jobs report for the past several months, and other economic assessment reports.
According to the survey, nearly 76% of those polled believe the economic outlook is improving, 24% believe the East Coast vs West Coast innovation competition
LogRhythm has closed a USD15 million Series D round of funding. Siemens’ Venture Capital group, which is a part of Siemens Financial Services, led the round, with participation from existing investors Adams Street Partners and Grotech Ventures. The additional funding will be used to further accelerate growth, product innovation and international expansion.
"We are excited to partner with Siemens’ Venture Capital group, particularly due to the opportunity we see to collaborate in several of the key vertical markets that LogRhythm and Siemens both target, including healthcare and critical infrastructure," says Andy Grolnick, president and CEO of LogRhythm. "Network attacks and
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