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A delegation from Guernsey has been in Moscow to raise the Island’s profile as an international investment funds centre.
The team was led by Fiona Le Poidevin, Deputy Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry.
The itinerary included a series of meetings with investment managers, private banks, accountancy firms and law firms as well as attending the Russian Fund Forum which attracted around 150 delegates over two days at the Moscow Marriott Grand Hotel.
Miss Le Poidevin says: “Guernsey has attracted very well known and highly respected names in the Russian funds world
Gibraltar could benefit from a change to Luxembourg law, which has slowed down the launch of specialised investment funds in the Grand Duchy.
On 6 March 2012, the Luxembourg parliament passed a bill of law amending the Luxembourg law of 13 February 2007 on specialised investment funds (SIF). It is now no longer possible to launch SIF prior to the approval of Luxembourg Supervisory Commission of Financial Sector making launch of a fund slower.
James Lasry (pictured), Head of Funds at Hassans, International Law Firm in Gibraltar, says: "As a result of the new Luxembourg law that removes the possibility
Greenpark Capital, a global leader in mid-market private equity secondaries, has opened a new office in Hong Kong, to be headed by Chin Chin Teoh.
Teoh, who will take the newly created role of Head of Asia, joins from Bank of America Merrill Lynch, where she was Managing Director and Co-Head of the Asia Private Equity Group.
At Greenpark, Teoh will head up the Asia-Pacific operation, playing a leading role in the firm’s emerging markets initiative with the IFC (International Finance Corporation). In addition, she will be responsible for sourcing investments across the region for Greenpark’s funds.
The opening of
Healthcare specialist Westhouse Medical Services is in negotiations for the acquisition of a majority control of US listed Sunridge International. Sunridge’s subsidiary, Ophthalmic International Inc, has developed a glaucoma procedure called PNT, which could revolutionise the way glaucoma is treated globally.
Westhouse Medical Services, listed on the Open Standard Section of the Frankfurt Stock Exchange, is aggressively implementing its expansion plans, and this acquisition will further build its medical devices subsidiary.
The majority control will also provide Westhouse Medical Services with access to the US markets for its BreastCheck product, which is patented and FDA approved. Currently Westhouse’s
In a move that broadens its US manufacturing base and global reach, flooring manufacturer Mannington Mills announced has acquired Amtico International, a manufacturer of high-quality luxury vinyl flooring products.
Mannington Mills, based in Salem, NJ, is one of the largest and oldest flooring manufacturers in the United States. Founded in 1915, the fourth-generation, family-owned company manufactures and markets residential and commercial resilient, laminate, hardwood and porcelain tile floors, as well as commercial carpet and rubber.
“The acquisition of Amtico is an extremely exciting development for Mannington, as it not only brings a world class organisation into the Mannington family, but
Private equity fundraising in the mid-market during 2011 reached EUR14.9bn in 2011 – an increase of around 40% on the previous year, when just EUR10.5bn was raised, according to Acanthus Adviser’s latest annual review of the sector.
The firm’s European Mid-Market Fundraising Review 2012 has identified the top performing regions as France, Benelux and Scandinavia.
2011 also saw a marked return of large-cap funds (funds >EUR1bn) – raising EUR18bn, up from just EUR1bn in 2010 and EUR9bn the previous year, but still well short of the boom years (2007: EUR43bn).
There are still a record number of funds in the
Axel Springer AG and global growth investor General Atlantic LLC have signed an agreement which relates to a future 30 per cent-participation of General Atlantic in Axel Springer Digital Classifieds GmbH, a new company which will hold Axel Springer’s digital classifieds business.
Axel Springer shall contribute the leading French real estate portal SeLoger, the German real estate portal Immonet, and the pan-European job portal StepStone to the new joint venture in a transaction which values the holding at EUR1.25 billion. Once the transaction is completed Axel Springer will hold 70 percent of the equity in Axel Springer Digital Classifieds, which
Main Street Capital Corporation (NYSE: MAIN) has exited investments in two of its portfolio companies. – Drilling Info and Currie Acquisitions.
The company has completed the exit of its debt investment and a portion of its equity investments in Drilling Info, Inc, an information service provider and resource for the oil and gas industry, as part of an equity investment in Drilling Info by a group of leading private equity investment firms focused on the global software, Internet and data-services industries.
Main Street made its initial investment in Drilling Info, which consisted of an USD8.0 million second lien, secured debt
Bertram Capital, a private equity firm headquartered in San Mateo, California, has promoted Ryan Craig to Partner. Craig, previously a Principal at Bertram, has been with the firm since its inception in 2006 and focuses his efforts on executing and monitoring portfolio company investments in the consumer and healthcare sectors.
Craig leads Bertram’s investment in One Distribution, which designs, markets, and distributes the fast-growing Supra footwear and KR3W apparel brands. He also serves as a Director of MEDIBIS, which provides business intelligence software to more than 800 outpatient surgical facilities, and Sanare, a leading provider of care management solutions for diabetics.
Perella Weinberg Partners has appointed Charles "Chuck" Ward as a Partner in the firm’s Advisory business. Based in New York, Ward will work with the Firm’s top clients and prospects around the world.
Ward has more than 30 years of experience in the investment banking industry, having served in senior positions at leading financial institutions for the past two decades. Previously, he was President of Lazard Ltd. ("Lazard") and also served as Chairman of its Asset Management Group. At Lazard, Ward was responsible for building the bank’s business outside of the United States and Europe. He also led its Global
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