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Jersey will be well positioned to grow its alternative funds business when the Alternative Investment Fund Managers Directive comes into place, according to expert speakers at a conference organised by Jersey Finance in London last week.
An audience of almost 300 fund professionals at Jersey Finance’s London Funds Conference, held at the British Museum last week (18 April), heard that Jersey is in a good position not only to meet stringent international regulations but also to grow its funds business.
The conference featured a heavyweight line-up of finance and legal professionals, with keynote presentations by David Smith, Economics Editor at
PineBridge Investments, the global multi-asset class investment manager, has successfully closed its latest collateralised loan obligation (CLO), Galaxy XII CLO, Ltd.
The issuance was comprised of approximately USD412.5 million of notes and closed on 24 April, 2012. The notes are secured by broadly syndicated first-lien senior secured corporate loans and other corporate notes and bonds, and the entire offering was fully or over-subscribed.
This is the fifteenth CLO that PineBridge has brought to market, taking the firm’s total leveraged finance assets under management to USD7.8 billion.
“The closing of Galaxy XII marks another successful investment and asset raise for PineBridge,
BDO’s Private Companies Price Index (PCPI) has seen price/earnings (p/e) multiples paid by trade buyers for private companies fall from an average multiple of 12.1 in Q4 2011 to 11.5 in Q1 2012, but is up from an average multiple of 9.0 seen in Q1 2011.
The number of trade acquisitions fell from 461 in Q4 2011 to 442 in Q1 2012.
Peter Hemington (pictured), M&A Partner, BDO, says: “This quarter has seen both multiples and volumes fall. One could attribute this to a level of hesitation ahead of the Budget, and a lack of confidence in the market. Buyers
Ingenious has successfully closed the fund raising for ten Ingenious Solar UK EIS companies. The fund raise exceeded its target and the majority of the aggregate funds raised have now been deployed.
Each Ingenious Solar UK EIS company has acquired a portfolio of solar photovoltaic panels which are fitted on residential properties and are already generating electricity and eligible to receive Government backed Feed-in-Tariff payments. The cumulative investment across these ten companies has funded the purchase of more than 2,000 solar installations.
Ingenious Solar UK EIS exceeded its target raise by a significant margin of 27 per cent, an excellent
Bangalore-based affordable medical technology and solutions company Forus Health Pvt Ltd (Forus) has successfully raised Series A funding of USD5 million from venture capital funds, Accel Partners and IDG Ventures India. Unitus Capital was the sole advisor to Forus for the transaction.
Forus’ mission is to address the healthcare delivery issues in the developing world through innovative and inclusive product design, and service deployment. Its flagship product 3nethra: a portable, low cost, non-mydriatic, non-invasive pre-screening ophthalmology solution, can detect cataracts, glaucoma, diabetic retina, refraction and cornea problems – diseases that contribute to 90% of avoidable blindness in India. 3nethra can
Ciklum, an innovative IT outsourcing company specialising in nearshore software development in Eastern Europe, in Ukraine and Belarus, has sold a minority stake to Horizon Capital, a regional private equity fund manager.
The funding for this deal comes from Horizon Capital’s Emerging Europe Growth Fund II (EEGF II), which was raised in 2008. The financial details of the transaction have not been disclosed.
Ukraine’s IT outsourcing market has been demonstrating impressive cumulative average growth rates of 28% per annum during 2004-2011 and is forecasted to enjoy 20-25% growth rates per annum during 2012-2016 based on the continued cost advantage of
Private equity firm Superior Capital Partners has acquired KDM from CoActive Technologies as an add-on acquisition to its user-interface and product identification portfolio company, Nelson-Miller, Inc.
The transaction represents the eleventh acquisition from Superior’s 2008 inaugural fund and the seventh acquisition since the beginning of 2011.
Nelson-Miller, based in Los Angeles, designs, manufactures and sources customised membrane switches, graphic overlays, nameplates, rubber keypads, touchscreens and other user-interface and product identification solutions. The Company’s products are highly customised and are used by original equipment manufacturers in a broad range of industries such as healthcare, industrial, aerospace and consumer.
Located in
Real estate private equity firm Meriwether Management Company has acquired two luxury residential development projects in Steamboat Springs and Telluride, Colorado.
Meriwether has purchased the remaining fully improved land within Chadwick Estates, a luxury residential development in Steamboat Springs. Chadwick Estates will feature more than 20 residences in a combination of duplex and condominium configurations. In addition to the onsite pool, spa and fitness facilities, the property’s premier location within the base village affords panoramic views and easy access to the ski mountain.
Concurrently with closing on Chadwick, Meriwether acquired the note secured by the third phase of The Lorian
Funds affiliated with CVC Capital Partners (CVC) are to purchase majority ownership of AlixPartners with the firm’s exisiting 125 managing directors maintaining a considerable equity stake in the enterprise. The transaction is subject to closing conditions and is expected to close this summer.
Terms of the transaction have not been disclosed.
Hellman & Friedman made a significant investment in AlixPartners in 2006; as part of that transaction, Jay Alix, who founded the firm in 1981, transferred a substantial portion of his interest. He will maintain a substantial minority stake in the firm.
Fred Crawford, CEO of AlixPartners, says: “In recent
Ingenious’ Entertainment VCTs (www.ingeniousvcts.co.uk), which recently agreed terms for the successful exit of its stake in the Creamfields dance festival, has made an investment in Liverpool Sound City, a well-established three day international music, media and technology conference and live arts and music festival.
The forthcoming (May 17 – 19) Liverpool-based event consists of a network of conferences, expos and live gigs featuring both new artists and established stars. It attracts the world’s top creative and digital leaders to the city, where they can chart the future course of the music, digital and creative industries. The 2011 event captured a
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