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Wermuth Asset Management (WAM) has launched the Tatarstan Cleantech Fund (TCTF) and WAM can now draw against the EUR110m committed by the co-founders of the fund. Additional fundraising is underway, as WAM targets a total fund size of EUR200m.
TCTF is the first ever international cleantech fund with a specific mandate to focus on the needs of the Russian Federation, and the Republic of Tatarstan in particular. The Fund will look to address climate change and other environmental issues by investing in the best cleantech companies that offer technology of relevance to Tatarstan, and that could benefit by selling into or
Former Skandia and Cofunds CEO, Brett Williams (pictured), has joined a newly established private equity firm as a Founder Partner.
The entrepreneurial hub, Lime Tree Investment Partners LLP (Lime Tree), invests in and facilitates the development of fast growth companies across the financial services, clean technology, real estate, biotechnology and entertainment sectors. The firm is designed to fully support innovative new businesses, including providing them with access to capital, a robust support and regulatory infrastructure, and, advice and guidance from a network of professional advisors and non-executive directors.
Williams will join Lime Tree alongside Tim Levy, Tim West and
Venture capitalists put EUR4.4 billion into 1,012 deals for European companies in 2011, a 14% decline in investment and 19% decline in deal flow from 2010, according to Dow Jones VentureSource. This marks the lowest annual deal count for Europe since VentureSource began tracking the region in 2000.
The fourth quarter was the weakest of the year in terms of deal activity as 194 deals collected EUR1.1 billion, a 43% drop in deals and 38% decline in investment over the same period in 2010. Weakness in the fourth quarter is notable as it is traditionally one of the most active
MMC Ventures has led an GBP850,000 investment round in home-swapping website Love Home Swap.
Love Home Swap (www.LoveHomeSwap.com) is an international holiday home exchange website founded by UK serial entrepreneur Debbie Wosskow. Love Home Swap launched in October 2011 to provide members with the opportunity to swap their homes for stylish and unique residences across 70 countries. Users are invited to sign up for membership, with the company generating revenue through member subscriptions. In addition to a home swap service, premium membership offers access to a dedicated travel team, personal concierge, travel guides and other benefits.
Love Home Swap has just agreed its
Ross Marshall, CEO Dunedin reviews 2011 and gives his predictions for the private equity market in 2012…
2011 was a year of two halves. Pre Summer the bond and debt markets were open and the PE market was very active; post Summer the debt markets seized up with the Eurozone crisis paralysing the banks – deals fell over because bank debt was not available.
We have seen a return to all equity deals, or the development of new solutions to ensure deal deliverability. We have used Dunedin’s DebtBridge solution in most of our recent deals that has given us
Offshore law firm, Mourant Ozannes, has opened an office in Hong Kong to provide clients and intermediaries with access to the firm’s offshore legal services in an Asian time zone.
The office opening has been timed to coincide with celebrations for Chinese New Year, giving Mourant Ozannes’ Asian office an auspicious start date in 2012 – the Year of the Dragon.
The office has opened with three partners and will focus initially on investment funds, corporate and finance work for which the firm has an international reputation.
Paul Christopher (pictured), who specialises in corporate, investment funds and finance work, has
AnaCap Financial Partners has promoted Justin Sulger and Fabrizio Cesario, Head of Credit Opportunities and Mergers & Acquisitions respectively, to Partner.
Justin joined AnaCap in July 2006, shortly after inception, as part of the Business Services team, before building out the firm’s Risk & Liability Management function and launching AnaCap’s credit investment strategy. Fabrizio joined the firm in May 2010 and has more than 18 years of experience, advising leading European financial institutions and executing M&A transactions on both the buy and sell side.
Joe Giannamore, Co-Managing Partner at AnaCap, says: “Justin and Fabrizio have both made demonstrable contributions to
Saugatuck Capital Company has made an investment in Tulip Molded Plastics Corporation. Saugatuck teamed with management to acquire the assets of the Molded Products Division from Tulip Corporation in a leveraged buyout. Saugatuck provided equity capital through its investment vehicle Saugatuck Capital Company VII LLC which, along with management, owns 100% of Tulip.
First Niagara Bank provided the senior debt financing and Ironwood Capital and Harbert Mezzanine Partners provided the mezzanine financing as well as an equity investment.
Founded in 1982, Saugatuck Capital Company is a long-established private investment firm committed to leveraged recapitalisations, buyouts and growth equity investments in
Sturgeon Ventures LLP, the regulatory incubator, has established three of its fund manager clients in Malta, a jurisdiction it sees as set to attract an increasing number of start-up financial firms.
Low cost, efficient regulation and access to the European Union are the three key attributes that are putting Malta increasingly on the wish-list of financial firms looking for a regulatory jurisdiction, says Seonaid Mackenzie, Managing Partner at Sturgeon Ventures.
The three clients that Sturgeon has guided to Malta include hedge fund Tertius European Absolute Return, which returned 5.42% in Q4 2011, putting it in the 93rd percentile of
Jersey has extended its funds regime through the introduction of the Private Placement Fund to widen the choice available to investors.
Private Placement Funds are closed ended funds available to a limited number of sophisticated institutional or professional investors. Similar in scope to the existing COBO (Control of Borrowing Order) private funds, the new fund offering is designed for ‘fast track’ approval, usually within three business days.
Private Placement Funds will sit within the COBO framework and will complement the existing Expert Fund regime which also provides a streamlined approval process and has helped position Jersey as a leading European
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