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Future Capital Partners (FCP) has launched another EIS fund that will capitalise on the firm’s successful green energy investment strategy. The new fund is the third of FCP’s renewable energy EISs, following the success of Elara I and the recently closed Elara II.
Elara III targets annual rate of return of 29.28% on a pre-tax basis and will be adopting a conservative investment strategy focused on lower risk opportunities in the renewable energy sector. The new fund will aim to raise at least GBP6 million, and is expected to close at the end of March. The launch follows the recent
Investec Growth & Acquisition Finance (Investec) has provided an innovative debt facility to support the buy-out of 2M Holdings Limited (2M), owner of chemicals distribution businesses Surfachem and Banner Chemicals, by Chairman and co-founder Mottie Kessler.
2M was formed in 2003 by Mottie Kessler and Ieuan Thomas with the objective of growing a portfolio of companies in the chemicals distribution sector. Its business activities started with the acquisition of Liverpool-based Banner Chemicals in 2004 followed by the subsequent acquisitions of MP Storage in 2006 and Leeds-based Surfachem in 2007. 2M is headquartered in Runcorn and operates from Halifax, Leeds, Middlesbrough
DC Advisory Partners has appointed a third Managing Director to its Debt Advisory Group. Sergio Ronga joins the London office this week and will work alongside Jonathan Trower and Ciara O’Neill. He will be specifically responsible for providing advice on infrastructure and social service transactions.
Ronga’s fourteen year career in finance includes almost six years with Macquarie where he was a Managing Director in the debt advisory team. During this time he advised a wide range of transactions including the acquisition and refinancing of Thames Water, the acquisition financing for Southern Water and the refinancing of Moto, ESP and Tanquid.
The majority of private equity (PE) firms interviewed in a new study of responsible investment practices say their action on environmental, social and governance issues (ESG) is set to increase over the next five years, with investor concern the main, or in some cases the only, driver for taking action.
In the new report by PwC examining the PE industry’s actions on responsible investment issues, 17 private equity houses were interviewed. This included six of the top ten largest global firms, and a further eleven of the top 50 largest global firms.
The firms said investor concern had been
Private funds specialist Timothy W Mungovan has joined Proskauer as a Partner in the firm’s Boston office. Mungovan was the founder and leader of the Private Fund Disputes team and was formerly the Practice Group Leader of the Commercial Litigation and Financial Services and Securities Litigation Practice Groups at Nixon Peabody.
Mungovan will continue to focus his practice on litigation involving private investment funds and fund sponsors, including hedge funds, private equity funds, venture funds, and other investment vehicles. He has represented funds, fund sponsors, investment advisers, managers, principals, feeder funds, institutional and individual investors in various disputes, including control
New figures for the Guernsey funds sector show there is no room for complacency, according to Peter Niven (pictured), Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry.
Statistics from the regulator, the Guernsey Financial Services Commission (GFSC), show that the net asset value of funds under management and administration in Guernsey decreased by GBP10.2 billion (3.7%) during the final quarter of last year.
This represents the second consecutive quarterly drop in the value of the Island’s funds business but follows eight straight quarters of growth. This means that the total value of funds under
Paris based IREIFS Partners Private Equity is re-opening its offices in Bangkok after a six year absence.
Pat Collins, IREIFS Regional Director Asia Pacific based in Singapore says: “IREIFS has always had a strong belief in the growth of Thailand as an Investment destination. We are primarily a hotel and resort investor and we see strong potential for growth in this sector in Thailand over the next 10 years. The Group has recently allocated a USD200. million [THB 6,000- million] budget for equity investment in this sector in Thailand. Therefore we are re-opening our Bangkok offices at All Seasons Place.
L Capital Management has held the final closing of L Capital 3 FCPR with total commitments of EUR400 million, well in excess of the Fund’s original target of EUR350 million.
L Capital Management – an independently-operated private equity firm started in 2001 and sponsored by the LVMH Group and its private holding company Groupe Arnault, – is Europe’s most established private equity firm specializing on lifestyle brands and selective retail businesses in Europe.
L Capital 3 will invest in mid-market European lifestyle brands and selective retail benefiting from global consumption trends. In particular, it will seek to invest primarily into
International legal practice Norton Rose LLP is advising long standing client ValueAct Capital on its proposed joint offer with CVC Capital Partners Limited for Misys Plc.
Misys Plc is a leading application software and services provider, currently listed on the London Stock Exchange with a market capitalisation of GBP1.1 billion.
ValueAct Capital, with more than USD7 billion in investments and offices in San Francisco and Boston, seeks to make active strategic-block value investments in a limited number of companies. The Principals have demonstrated expertise in sourcing investments in companies they believe to be fundamentally undervalued and then working with
DC Advisory Partners has advised Citizen Watch Co Ltd (Citizen) a Tokyo based global electronics company famous for its technologically advanced watches, on the acquisition of Prothor Holding SA.
Prothor is the holding company for Manufacture La Joux-Perret, Prototec SA and Arnold & Son SA, all of whom are specialists in the luxury Swiss watch industry. Manufacture La Joux-Perret, the most well-known of the subsidiaries, is a leader in the field of high quality mechanical movements and components for the mechanical watch industry. Its product range, which uses sophisticated technological skills, boasts hundreds of unique watch movements.
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