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The Rohatyn Group (TRG), a private investment firm focused on emerging markets, has entered into definitive agreement with the CIMB Group (CIMB) to acquire a 60 per cent stake in CapAsia, a Singapore-based mid-market infrastructure private equity firm focused exclusively on non-BRIC Emerging Asia.
CapAsia in total has raised over USD500 million in capital commitments and has more than USD 400 million in assets under management.
Founded in 2006 by CIMB and Standard Bank of South Africa, CapAsia has over 18 investment professionals and offices in Singapore, Kuala Lumpur, Jakarta, and Bangkok and manages three infrastructure investment vehicles, one of
Morgenthaler Private Equity, the Boston and Cleveland-based private equity team focused on lower middle-market buyouts, has completed the sale of Phillips & Temro Industries, a designer, manufacturer and distributor of highly engineered diesel engine components to original equipment manufacturers (OEMs) and suppliers of construction equipment, light and heavy duty trucks, agriculture equipment, stationary power generators and automobiles.
Terms of the transaction have not been disclosed.
Butch Sumpter, President and Chief Executive Officer of Phillips & Temro, says: “We are excited about our future growth prospects across all three operating divisions. Over the past several years we have significantly enhanced our global
Aero Financial, a private equity and consulting company, has signed a definitive agreement to acquire a 65% ownership interest in Sycamore Ventures, Inc. (Pink Sheets: SYVN) a holding company incubator that focuses on the acquisition and development of Health, Nutrition and Education companies.
“This strategic acquisition represents Aero’s initiative to augment its capabilities as a strategic advisor and to enhance its overall portfolio. Our mission is to build out our equity ownership in a large and diversified group of companies and further augment the development of those companies through implementing our services,” says James Price, CEO of Aero. “This investment
The latest Deloitte Buyout Track 100 league table, which ranks Britain’s fastest growing mid-market private equity backed businesses over the past two financial years, features four companies backed by Maven Capital Partners (Maven).
The strong showing by Adler and Allan, Elite Insurance, Homelux Nenplas and Westway Services, means that Maven is one of the best-represented private equity houses in this year’s table and according to managing partner Bill Nixon, demonstrates the firm’s ability to source high growth businesses across a wide range of industries and build an attractive multi sector investee portfolio.
“The presence of four of our investee companies within the Buyout Track 100 is
JP Morgan Worldwide Securities Services (WSS) has launch the Fund Reporting and Media Exchange Site (FRaMES), which provides Mutual Fund Administration regulatory services clients with real-time access to a secure, collaborative work environment for fund administration activities.
The FRaMES portal is the newest component of JP Morgan ACCESSsm, the firm’s web-based platform for multiple information, compliance and portfolio management applications.
FRaMES provides real-time document sharing, including uploading and download functions, as well as online delivery capabilities and data archives for board books and records. In addition to document management, FRaMES houses proprietary research, online tools and client-specific links to
Conyers Dill & Pearman has recruited litigation lawyer Scott Pearman and corporate lawyer Niel Jones (pictured) to the firm’s Bermuda office as it continues to strengthen its Bermuda offering.
Pearman joins Conyers from Ely Place Chambers in London, where he was a barrister for 13 years specialising in commercial litigation. Scott provides advocacy and advice on all aspects of civil and commercial law, with a focus on dispute resolution relating to business and commerce, insurance and reinsurance, trust and chancery, employment and discrimination, arbitration, and the law relating to media and information.
Pearman has particular expertise in financial misselling and
Investec Growth & Acquisition Finance, part of Investec Specialist Bank, has appointed Shaun Mullin to focus on the origination and execution of predominately senior debt deals in conjunction with mezzanine, equity and integrated financing for entrepreneurs and private equity firms. He will report to Ed Cottrell, Head of Investec Growth & Acquisition Finance.
Mullin joins from Barclays Bank, where he was most recently a Director in their Debt Finance team focusing on the origination and execution of mid-market leveraged buy-outs, public-to-privates and cross border acquisition financings. He also spent two years in Barclays’ Financial Sponsors team working on the
The shipping sector is looking to new sources of finance in place of bank funding, according to survey by international legal practice Norton Rose Group.
While 43% of respondents said that they expect their primary source of funding will continue to come from bank debt over the next two years, 31% said that they expect this would come from private equity and 18% from export credit agencies.
Some 42% of respondents to the Norton Rose Group survey believe that a lack of available funding poses the greatest threat to the stability of their business and 40% say that the cost
Andrew Bishop, a managing director in power, utilities and infrastructure investment banking at Goldman Sachs in London, is to join infrastructure fund manager Alinda Capital Partners.
Bishop has over 12 years of investment banking experience, most recently with Goldman Sachs, whom he joined at the beginning of 2008. He will become a managing director at Alinda and will be based in Alinda’s London office, where he will spearhead principal investment activity in core infrastructure assets in Europe. He will join Alinda in April.
Alinda managing partner, Chris Beale, said, "We are excited about Andrew joining us. With his
Dechert has released the following update regarding the US Treasury Department’s recent proposed regulations and announcement relating to FATCA…
On 8 February, the US Treasury Department released proposed regulations and a related ground breaking announcement relating to the recently enacted tax legislation called the Foreign Account Tax Compliance Act or FATCA. FATCA’s purpose is to flush out the identity of US investors who may be trying to avoid payment of US taxes by investments channeled through offshore accounts with non-US banks or financial institutions. FATCA has caused a great deal of controversy and concern in the financial sector due to the
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