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International legal practice Norton Rose LLP has advised its client Duet Private Equity on the acquisition of a controlling interest in Dashen Brewery, Ethiopia’s largest independent brewer. The value of the acquisition is USD90 million, making it the largest private equity investment in to Ethiopia to date.
The investment will be used to increase the capacity at Dashen’s existing site in Gondar, Ethiopia and develop new production facilities in Addis Ababa. Last year, leading brewers Heineken and Diageo acquired the other two leading brewers in Ethiopia in transactions worth an aggregate US$400 million.
Duet’s investment and partnership with Dashen will
Apex Fund Services has launched Apex Funds 247, an online reporting solution for both investors and investment managers that provides greater portfolio transparency and performance attribution analysis.
Apex Funds 247 enables investors to quickly and easily access investment manager information via an online dashboard. As well as over 80 regular reports available a large number of dynamic reports which users can create themselves can be generated by Apex Funds 247.
One of the key benefits Apex Funds 247 provides is that it nurtures closer collaboration between managers and investors. To protect sensitive data separate reporting logins exist between the
IFG Fund Administration has further strengthened its team which targets the alternative investment industry, as it seeks to grow its business.
Stephen Edmonds has joined the Isle of Man office, working closely with Colin Stott who was recently promoted to Director, Business Development.
Edmonds has worked in financial services for over 30 years, and is well known and respected in the local and London marketplace.
“ I’m delighted to be joining IFG Fund Administration, whose expanding operation reflects not only their commitment to this sector but is underpinned by an excellent reputation in client servicing which I look forward to
European equity markets are ‘incredibly cheap’ but investors should ‘remain cautious’, says Stephanie Kretz, a member of the Investment Strategy Team for Private Banking at Lombard Odier…
European equity markets are incredibly cheap. At a country level, Italy’s price to 10-year average earning currently stands 72% below its historical average since 1969. The same can be said of Spain, France and Germany.
Numerous waves of liquidity injections planned by the European Central Bank should benefit equity markets.
Investors should remain cautious, however: the European Central Bank actions will not make structural issues magically disappear. More liquidity has never turned deficits
Emerging Capital Partners (ECP) has appointed Amaechi Ndili to lead the firm’s Nigeria operations. Based in Lagos, Ndili will be working closely with a number of ECP’s portfolio companies, driving strategic and operational improvements as well as sourcing new investment opportunities.
“West Africa continues to be one of the fastest growing regions in the world and ECP is dedicated to seizing the resulting opportunities for its portfolio companies and for its investors. Amaechi’s appointment reinforces the deep operational experience on the ground in Nigeria and brings an expert new perspective to the table,” says Hurley Doddy, co-Founder, Managing Director and
Northern Trust has made four key appointments to the Northern Trust Alternatives Group, building its capabilities in hedge fund and private equity management for institutional and individual clients.
Anthony Zanolla has been named Head of Portfolio Management, Tony Lissuzzo will serve as the Director of Hedge Fund Research, Bob DiCarlo has been named Chief Administrative Officer and Aimee Wight will serve as an Investor Relations Consultant for Hedge Funds. Northern Trust Alternatives Group also promoted Brad Dorchinecz to Director of Private Equity.
"We see significant interest in the alternative investments space, and the Northern Trust Alternatives Group is growing in
Tough market conditions are driving chairmen and non-executive directors across the private equity space to rethink remuneration structures according to the initial findings of a survey from specialist leadership consultancy Tyler Mangan and corporate finance advisory firm Clearwater Corporate Finance.
The preliminary responses suggest that changes in expectations, lengthening exit timescales and lower valuations are creating challenges for chairmen and forcing them to adjust compensation models. Around a third of management teams do not currently feel comfortable with their overall compensation, a clear indicator that the sector has an opportunity to reconsider how it incentivises and motivates senior management
The acceleration and growth of internet marketing has led Michael Sherman, founder and CEO of search engine optimisation and digital marketing specialists Qualified Impressions, LLC, to launch a venture capital program geared toward funding start-ups, growing existing businesses, buying ideas, and the acquisition of established businesses.
WeFundVentures.com (WFV) aims to help start-ups and pre-existing businesses that are capital and resource deficient, grow, by investing cash, expertise in digital marketing, SEO/PPC and media buying, and assisting with overall business development strategies. Investments will be made in early and growth stage US based companies.
WFV says that several partners will be joining
The shareholders of Savcio today confirmed the sale of the company to ACTOM. Savcio is the largest privately owned provider of maintenance and repair services for motors and transformers in Africa. ACTOM focuses on manufacturing, distributing and contracting in the electrical engineering sector.
Private equity firms Actis, Ethos and Old Mutual, BEE shareholders Sphere Holdings and Aka Capital, and management received a conditional approval for the sale from the South African Competition Authorities.
Savcio was originally acquired from Delta Electrical Industries Limited in 2005, by a private equity consortium co-led by Ethos and Actis, with equity and considerable BEE
Almost two-thirds of investors are planning to make new private equity investments in the first half of 2012, the latest Preqin research reveals.
The results of the most recent Preqin Investor Outlook: Private Equity found that although investors remain cautious, almost three-quarters are planning to make new commitments in the coming 12 months.
Fund managers that are planning to launch funds during 2012 can be further buoyed by news that 84% of investors that are planning to actively commit to funds in 2012 will consider forming new relationships this year, while 46% will consider investing in a fund before it
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