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A new Growth Loan Fund is to be launched this month by Cockpit Arts in partnership with Ingenious, an investment and advisory group renowned for their work in Media & Entertainment.
Cockpit Arts is an award winning Social Enterprise and the fund aims to support the growth of independent craft businesses based at its London incubators.
The Cockpit Arts & Ingenious Growth Loan Fund will provide low interest loans, coupled with intensive one to one business support to studio holders at Cockpit Arts, the UKs only creative incubator for designer makers. Talented, ambitious designers and artisans from a broad
Bain Capital Ventures has appointed Matt Harris as Managing Director. In this role, Harris will focus on early and growth stage investments in the financial services sector and will lead the firm’s New York City office.
"Matt is one of the best investors in the financial technologies sector and we couldn’t be more pleased to have him join the Bain Capital Ventures team," says Mike Krupka, a Managing Director at Bain Capital Ventures. "This represents a further commitment to New York City, where we already have over 20 portfolio companies, and where we see tremendous opportunity going forward."
Harris was
Vistra Fund Services has launched Vistra Fund Services Asia Limited, to complement the group’s fund administration operations in Jersey and Luxembourg. The new operation, which is based in Hong Kong, will provide fund administration and associated services to fund managers throughout Asia.
Rapid growth and acquisitions in this region by fund management clients of Vistra’s Jersey and Luxembourg offices have been behind the strategic decision to broaden operations into Asia with a specific fund services offering designed to meet the individual requirements of the Hong Kong and Asian markets.
Vistra has assembled a highly experienced team to spearhead growth
JH Partners, a San Francisco-based private equity firm, has completed the sale of Australian skin care company Jurlique International to Pola Orbis for an enterprise value of AUD335m (USD358m), which represents approximately 3.8x Jurlique’s annual sales.
JH Partners acquired Jurlique in mid-2006. JH Partners manages approximately USD1 billion in private equity commitments across three funds.
JH Partners’ Managing Partner John Hansen, says: "JH Partners was honoured to be invited in 2006 to participate in the business development of Jurlique, which was a direct result of our long-standing success in beauty. We are enthusiastic supporters of this important global skin care
Middle market private equity firm Parthenon Capital Partners has held the final closing of Parthenon Investors IV (PCP IV) with USD700 million in commitments. PCP IV exceeded its initial fund target of USD600 million and hit its “hard cap” of USD700 million.
“We appreciate the support we received from our existing limited partners and are also excited about the relationships we’ve developed with an outstanding group of new investors,” says Brian Golson (pictured), Managing Partner and San Francisco Office Head.
“We’re pleased that investors recognised our differentiated strategy, significant focus on proactive research, and strong track record,” says David Ament,
CS Strategic Partners, the exclusive dedicated secondary private equity arm of Credit Suisse, has announced the final close of its most recent fund, CS Strategic Partners V, with total capital commitments of over USS2.9 billion. Consistent with regulation, this capital includes over USS87 million committed by Credit Suisse and the Strategic Partner investment team.
SPV LBO Centric, SPV Real Estate and SPV Venture Secondary Funds began investing in the second half of 2011 and have to date already collectively invested or committed to invest approximately USD500 million to over 170 underlying funds in over 30 transactions. Strategic Partner’s pipeline is
Growth equity investor Summit Partners today has established a new office in Mumbai. Summit is opening the office to increase investment activity in India and to support its North American and European-based portfolio companies with their expansion efforts the region.
The office is being managed by Amit Chaturvedy, Director-India, and joining him are Associates Gaurav Prakash and Miloni Shah. Summit Partners will apply the same investment strategy that Summit Partners has successfully executed since 1984—to focus on high-growth businesses run by strong management teams.
“As growth equity investors with a 28-year track record, we see a significant opportunity in the
Private equity firm The Gores Group has completed the acquisition of The Hay Group, one of the leading European manufacturers of high precision forged and machined components for engines, gearboxes and axles for the automotive, commercial vehicle and bearing industries. Terms of the transaction have not been disclosed.
Founded in 1925, The Hay Group has nearly 1,600 employees between its three German manufacturing operations sites. Part of the strategy under the new ownership will be to expand The Hay Group’s operations into Asia to meet the demands and requirements of its customers.
Fernando Goni, Managing Director of The Gores Group,
The majority of investors in hedge funds, commodity trading advisors and private equity funds expect to increase their allocations to those private investments in 2012, according to a survey by AlphaMetrix.
A total of 65 per cent of investment managers and investors surveyed said they intend to increase their allocations to private investments by some degree this year, with 25 per cent of participants planning to raise their allocations significantly. Further, 35 per cent intend to leave their existing allocations unchanged.
Respondents answered a range of questions during the AlphaMetrix 2012 Miami Summit, a leading networking conference for the private
EFAMA has commented on the the US Treasury Department and Internal Revenue Service’s long-awaited proposed regulations under the Foreign Account Tax Compliance Act (FATCA), which were released on 8 February, 2012
FATCA is a sweeping law that requires non-US financial institutions, including funds, to determine which of their accounts and investors are US persons, and to report such US persons to the IRS. The consequence of non-compliance is a 30 per cent withholding tax on payments of certain US source income.
“We are gratified that the proposed regulations reflect the receptiveness of the US rule makers to working
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