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NBGI Private Equity has backed the management buyout of ATR Group, the Aberdeen-based oil & gas rental services business. An equity and debt financing package of over GBP20m has been put in place, with significant capital allocated to fund the growth strategy of the business.
A market leader in the rental of specialised tools and equipment principally for the offshore oil & gas industry, ATR also provides a comprehensive range of added value support services including outsourced fleet management, health and safety compliance, and inspection and certification of equipment. ATR Group has a long-standing, loyal blue-chip customer base and
Dunedin Enterprise Investment Trust PLC, the private equity investment trust managed by Dunedin the UK mid-market private equity house, has reported a significant increase in value across its portfolio, as reflected by the uplift in net asset value announced for the year to 31 December 2011.
During 2011 Dunedin Enterprise’s net assets increased from GBP150.1 million to GBP163.0 million, an increase of 8.8%. The share price moved from 300.0p to 313.5p over the same period. Dunedin Enterprise also recently announced that it sold its entire investment in SWIP Private Equity Fund of Funds II plc to a number of third
The European Commission is launching a process to review European pension regulation with Michel Barnier (pictured), European Commissioner for Internal Market and Services opening a public hearing on the review of the “IORP Directive”. The European Commission aims to make important elements of the Solvency II legislation for insurance companies applicable to IORPs across Europe. This objective is repeated in the Commission’s White Paper on Pensions, which talks of a “level playing field with Solvency II”.
A broad coalition of trades unions, employers groups and pension fund representatives, including the ETUC, EVCA and EFRP, has issued a joint press release,
The Management team of Natixis Capital Partners has successfully concluded a Management Buy-out and effective 1 March, 2012, will operate fully independently under the name Captiva Capital Management (Captiva).
The buy-out team has been working together since 2001, and has developed strong relationships with leading institutional investors, including pension funds, insurance companies and financial institutions. To date, Captiva has invested EUR 1.3 billion of equity capital in the real estate sector on behalf of its institutional clients, either directly or through specialised investment platforms. Those investments include over 1,500 properties across Europe worth more than EUR8 billion.
Building on this
GeneWeave Biosciences, developer of a platform for the rapid detection of infectious disease, has raised USD12 million in a series A round of venture capital led by Decheng Capital. Existing investors Claremont Creek Ventures and X/Seed Capital also participated in the round.
The company also announced that Min Cui (pictured), Managing Director at Decheng Capital, will join the company’s board of directors.
Steve Tablak, the CEO of GeneWeave Biosciences, says the latest infusion of capital will be used to complete the development, validation and clearance of the initial test for the company’s platform. The company has developed a breakthrough molecular
Monroe Capital has provided a USD37.1 million unitranche facility and an equity co-investment to support the acquisition of LAI International by RLJ Equity Partners.
LAI International is a provider of comprehensive precision engineered finished parts, components and subassemblies for aerospace, power generation, defence, medical, electronics and other advanced technology industries. The company’s best-in-class manufacturing solutions are essential to the performance of airframes, aircraft engines, gas turbines, defence systems and other mission-critical applications.
Rufus Rivers, Managing Director of RLJ Equity Partners, says: “Monroe Capital demonstrated their ability to provide flexible capital as our capital structure was modified during the due-diligence process.
Record levels of corporate cash and historically low interest rates may provide the catalysts to fuel a rise in the level of merger and acquisition (M&A) activity this year, according to a survey of 825 executives conducted by KPMG and Knowledge@Wharton, the research and analysis arm of The Wharton School of the University of Pennsylvania.
Executives reported that large corporate cash reserves and commitments (48 per cent of respondents) and low interest rates (44 per cent) should lead to more M&A activity.
"In the US, we’ll likely continue to see M&A activity move sideways, but with a slight upward trend,"
Last year’s ‘Enterprise’ budget paved the way for increased investment in the UK’s smaller unlisted companies. The higher bank lending targets agreed under Project Merlin along with a relaxation of the rules governing VCTs promised greater flexibility for funding.
VCT managers surveyed by the Association of Investment Companies (AIC) have seen a surge in demand for funding from companies over the last year and they are currently seeing good investment opportunities in a range of sectors, from media to healthcare and education.
As a result of this, managers view the outlook for 2012 as largely positive. Patrick Reeve, Managing
The British Virgin Islands Financial Services Commission (FSC) has issued guidance on the form and content of the audited financial statements to be prepared and filed by certain regulated companies.
Private and Professional Funds Private and Professional funds recognised under the Securities and Investment Business Act, 2010 (SIBA) are generally required to appoint an auditor and to file their audited financial statements with the Commission not more than six months after the end of each financial year.
According to law firm Harneys, concern has been expressed by the industry regarding certain provisions in the Mutual Funds Regulations, 2010 (“Regulations”) regarding
BerchWood Partners, an independent global placement agent, has appointed Paola Tarazi as Principal in their London office where she will lead the expansion of the firm’s efforts across the EMEA region including fund selection, project management and fund distribution.
Tarzai has 16 years of professional experience in private equity fund investments, management consulting, and investment marketing/distribution experience gained in Europe and the Middle East. She joined BerchWood from BNP Paribas where she was recently focusing on originating and distributing a variety of private equity fund offerings to European Institutional Investors. Previously, Tarazi was a co-founding member of Fortis Investments’ Private
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