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Financing of US solar projects is in the midst of a transformation, with new business models, new investors, and new financing vehicles gaining sway, according to new research by specialist research firm Bloomberg New Energy Finance commissioned by Reznick Group.
US solar projects have historically been bankrolled by some combination of energy sector players, banks, and the federal government, but the landscape is rapidly changing. New business models are emerging with an emphasis on third-party financing. New investors, including institutional players, are entering. And new financing vehicles such as project bonds and other securities are being assembled to tap the
The total value of funds business in Guernsey grew by GBP8.7 billion (3.3%) during the first quarter of the year.
New figures from the Guernsey Financial Services Commission (GFSC) show that the first quarter growth follows a drop of just more than GBP10 billion in the final quarter of last year and has taken the total net asset value of funds under management and administration in the Island to GBP270.1 billion at the end of March 2012.
This represents growth of GBP6.4 billion (2.4%) year on year.
Fiona Le Poidevin (pictured), Deputy Chief Executive of Guernsey Finance – the promotional
Global financial information services company Markit has agreed to acquire Cadis, a global enterprise data management specialist platform.
Cadis’s platform addresses a multitude of data management needs including front-to-back office integration and data frameworks for trading, pricing, risk and compliance management.
The acquisition comes at a time when financial institutions are becoming increasingly reliant on EDM platforms to manage their big data challenges, reduce risk and comply with new regulations including Dodd-Frank, Basel III and Solvency II.
Lance Uggla (pictured), CEO of Markit, says: “Data management is top of our customers’ agenda; the scale and sophistication of the data they
Japan’s credit rating downgrade was not a surprise, says Andy Tidby, Product Manager Japanese Equities, Invesco…
Japan’s debt is too high, which is both obvious and well known, and its credit rating has been under pressure for some time. In that sense the downgrade was not a surprise, although the timing is interesting given that Prime Minister Noda has staked his political future on increasing the consumption tax, which is a key pillar in addressing the debt issue over the long term. There are political difficulties in passing the necessary legislation, but a decision is likely either way in the
Golden Seeds has joined a list of top-tier investors in Triptrotting, Inc’s Series A financing of USD1.5 million.
Triptrotting is a global community connecting world travellers with like-minded local hosts for meet-ups and authentic experiences. Co-investors included Google Ventures, Idealab, LaunchpadLA, 500 Startups, WI Harper Group and individual angel investors. The capital will fuel further development of the company’s social platform as well as providing marketing power to expand its global user base.
Triptrotting’s mission is to connect people with similar interests from different corners of the world, who otherwise might never have met each other. Through face-to-face interaction, people
Scandinavian-German dairy group Arla plans to merge with Milch-Union Hocheifel and the UK’s Milk Link. The transaction is currently awaiting approval from the EU competition authorities and the consent of the membership meetings of the companies involved.
A team from CMS Hasche Sigle led by Dr Malte Bruhns advised Milch-Union on all legal and tax aspects of this complex transaction.
The merger will see Arla expand its worldwide sales by around EUR1.5 billion to a total of EUR9 billion. It also creates the third-largest dairy in Germany. At its headquarters in Pronsfeld in the Eifel region, Milch-Union operates Europe’s most
Oaktree Capital Management is to recapitalize Diamond Foods’ balance sheet with an investment of USD225 million in the branded, packaged food company.
Concurrent with the closing of this investment, Diamond will amend its credit agreement with its existing lenders. The recapitalization will result in a capital structure that supports the Company’s long term strategy as well as the execution of its current business plan. The recapitalization will allow Diamond to further strengthen the Company’s leadership position in the walnut industry, continue the growth of its snack business and reduce the amount of existing bank debt. The transactions are expected to
SEI has extended its relationship with Key Capital Investment Management Limited to include an operational outsourcing solution for the firm’s private equity business.
Key Capital’s private equity offering is designed to provide family offices and high-net-worth private clients with exposure to a pre-identified list of Europe’s leading private equity firms including Apax, Cinven, CVC, Equistone, and Permira. The extension of SEI’s services is in recognition of the company’s cutting-edge technology, strong service model, and global reputation and presence.
Under the agreement, SEI will provide a full range of services for Key Capital’s private equity business including accounting, administration services, treasury,
Legislation, such as Basel III and the Volcker Rule – part of the Dodd-Frank Act in the US – coupled with liquidity concerns and a fall in client appetite, has resulted in a decline in banks’ involvement in the private equity asset class, a Preqin study reveals.
Banks accounted for 11% of all private equity capital in 2008 but this figure fell to 8% in 2011. Despite this, 74% of banks interviewed by Preqin stated that their private equity investment programs had not been affected by regulatory changes, and 55% felt it unlikely that such changes would impact their level
Pangaea Ventures Ltd has held a first close of Pangaea Ventures Fund III, LP, having attracted the initial USD50 million into the target USD100 million USD fund.
Limited Partners in the new fund include world-leading industrials Asahi Glass Co Ltd, Asahi Kasei Innovation Partners, Inc, nv Bekaert sa, 9th Street Investments (a CoorsTek affiliate), JSR Corporation, Mitsubishi Chemical Holdings Corporation, Murata Manufacturing Co Ltd, Nitto Denko Corporation and SABIC Ventures BV. The fund exclusively invests in early stage cleantech companies with compelling advanced materials technologies.
Chris Erickson, General Partner of Pangaea Ventures, says: "We are pleased that our proprietary deal flow
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