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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.
The transaction
Warburg Pincus, a global private equity firm focused on growth investing, has appointed Francesco Granata as an Executive-in-Residence focusing on the healthcare sector.
Dr Granata will support the firm in the identification and evaluation of new investments in the biopharmaceutical sector, particularly in Europe, and provide strategic counsel across the firm’s global healthcare portfolio. He will be based in Warburg Pincus’ London office.
Dr Granata is an accomplished healthcare executive, with over 35 years experience in the pharmaceutical and biotechnology industries including most recently as Executive Vice President at Biogen Idec, a leading global biotechnology company where he led the global
Guinness Asset Management’s third EIS fund, Guinness EIS Fund 3, is now open for investment. This fund will invest in UK sustainable infrastructure companies through the tax-efficient EIS structure.
The Guinness EIS Fund 3 will target attractive risk-weighted returns by making investments in Sustainable Infrastructure companies which have predictable revenues, low technology risk and low correlation with other asset classes.
Guinness believes it has identified investment opportunities in renewable energy and energy efficiency companies which have these investment characteristics. Renewable energy investment opportunities include hydroelectric and biomass projects, while energy efficiency projects focus on reducing energy costs in office and
Private equity real estate firm, Benson Elliot Capital Management, has made two significant appointments since the New Year, with Georg Strassner and James Jakeman joining the company in senior roles.
Strassner and Jakeman will focus on the German-speaking and UK markets respectively, adding to Benson Elliot’s already strong capabilities in these strategically important regions.
Strassner was previously Managing Director and Head of Real Estate Management at Strategic Value Partners in Frankfurt, where he led a team of twelve real estate professionals responsible for managing a 180-asset, EUR1.5 billion German property portfolio. Before that, he was Regional Head, South, at
IK Investment Partners is to sell Europris, the leading Norwegian integrated mixed discount retailer focused on non-food retail, to Nordic Capital. Financial terms of the transaction have not been disclosed.
IK acquired Europris in September 2004, at which time the Company consisted of a wholesale business, a penny store concept and a franchise operation with a network of 136 stores across Norway. During its ownership, IK has successfully transformed Europris into an integrated wholesale/retail business and doubled chain revenues close to EUR 500 million in 2011.
IK has, together with management, also implemented a number of strategic initiatives and operational
Maven Capital Partners (Maven) has realised a return of 1.7x on its initial investment from the sale of its holding in ATR Group via a secondary buyout funded to the private equity manager NBGI.
ATR is a market leading provider of rental services for specialist plant, equipment and consumables, with an extensive client base of offshore and onshore energy services maintenance contractors operating in highly regulated environments. The group provides a comprehensive range of added value support services, including health and safety compliance solutions and the inspection and certification of equipment.
Maven client funds invested in the MBI of ATR
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