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Jalak Jobanputra, a venture capitalist known for having backed companies with exits to AOL, IBM, Oracle and several IPOs, has been named Managing Director and Founding Partner at RTP Ventures, a newly formed USD120M fund closely associated with ru-Net, a Moscow-based USD700m international investor.
With a vision of targeting innovative companies and differentiating technologies that will see tomorrow’s growth, Jobanputra joins managing director Kirill Sheynkman at RTP Ventures’ New York City headquarters. She will focus on consumer internet, mobile, payments, e-commerce, and social enterprise deals.
"I am thrilled to join a team of investors who are dedicated to cross-border, global
Consilia Partners, the European and Middle East based investment and turnaround firm, and Turnaround Asia (TAA), the China-based business transformation and turnaround consultancy, have formed a strategic joint venture to meet the need for a global transformation and turnaround management solution across Europe, Middle East & Asia.
David Axon, CEO of Consilia Partners, says: “We are delighted with the joint venture of Consilia and TAA as it expands our ability to work at a global level. With a pool of talented resources available throughout Europe, Middle East and Asia, we are now able to deploy more rapidly on behalf of
AAC Capital UK (AAC UK), the mid-market buy-out firm, has sold Amtico Group, a designer and manufacturer of high end flooring, to Mannington Mills, Inc, the US-headquartered provider of branded flooring products.
Amtico created the market for high quality floor tiles over 40 years ago and has been at the forefront of producing innovative and resilient flooring products for residential and commercial interiors ever since. Its internationally recognised brand is synonymous with cutting-edge design and high performance. The company employs 600 people operating from its headquarters in Coventry (UK) and facilities in Madison (USA) and Conyers (USA).
Amtico has
The Maven VCT Offers, which gave investors the opportunity to invest in four established and income producing VCTs managed by Maven Capital Partners, have now closed.
The Offers, which were due to close on 5 April 2012 for 2011/12 applications, and 27 April 2012 for tax year 2012/13, are now fully subscribed after the target of GBP1.25 million per company was achieved on 29 February 2012.
Investors under the Offers have gained access to four highly diversified portfolios of profitable private businesses with strong yield characteristics, and are immediately eligible for regular and attractive levels of tax-free income, including any final dividends
More than USD0.5 trillion of European leveraged buy-out loans are due to mature between now and 2016, according to a new report form global law firm Linklaters.
Within this headline figure the report identifies which countries and sectors are most acutely affected and will face the greatest pressures. From a country perspective these include UK (USD172bn), France (USD86bn) and Germany (USD83bn) which have the largest requirements.
The largest sectoral burden falls on the telecommunications sector where USD67bn of LBO loans must be refinanced over the five years to 2016. The next four largest sectors are retail (USD47bn), healthcare (USD40bn), chemicals (USD37bn)
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
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