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Heritage International Fund Managers Limited (HIFM) has made a host of new appointments.
David Dorey (pictured), who joined the team as Head of Private Equity in January 2012, will be responsible for the client delivery on all existing and new private equity clients. David has a wealth of experience in the administration and management of private equity funds having held a number of senior positions within private equity firms and administrators in Guernsey, notably eight years with BC Partners, both in London and locally.
James Christie and Andrew Cooper have both joined as Senior Fund Administration Managers heading up teams
London-based bridging financier Montello Bridging Finance, has obtained significantly expanded funding lines, which has allowed it to enter the medium term loan market.
The first medium term loan by Montello, was completed last week in a deal for GBP1.15m and for a three-year term. The loan was against a mixed use residential and commercial property in Soho, London.
This loan was completed by Montello at an interest rate of 11% per annum, with no up-front fees and no exit fees. The loan was for a minimum period of 1 month, and there were no early redemption penalties for the
Global aerospace and defence (A&D) merger and acquisition (M&A) value reached a record level in 2011, according to Mission Control, a quarterly analysis of M&A activity in the global A&D sector by PwC.
Aggregate deal value reached USD43.7 billion supported by 341 deals in 2011, compared to total deal value of USD21.9 billion and 332 deals in 2010. The 2011 record surpassed the previous A&D deal record of USD42 billion in 2007.
The primary driver of deal value in 2011 was the USD16 billion transaction, the largest in sector history. However, volume drivers were broad-based, with higher numbers for
Hogan Lovells has advised Ares Capital, Lloyds TSB, RBS and Santander on the acquisition by Duke Street Capital of a majority stake in Parabis, thought to be the first ever leveraged buy-out of a law firm in the UK. The deal was announced on Monday 6 February.
Parabis is a leader in claims handling which specialises in managing long term outsourced and co-sourced contracts on behalf of major organisations. Parabis also owns Plexus law, a specialist insurance defendant entity.
The Hogan Lovells team advising the banks was led by London banking partner Stuart Brinkworth, assisted by Of Counsel Jo Robinson,
Bregal Investments is forming Bregal Partners, LP, a middle-market private equity fund with USD500 million of committed capital. The fund’s investment efforts will be led by Robert Bergmann and Scott Perekslis, who will serve as Managing Partners.
The fund, based in New York, will focus on control-oriented investments in North America in the following industries: consumer; food and beverage; healthcare; and, energy services. Bergmann and Perekslis are middle-market private equity veterans, having previously worked together at Centre Partners Management LLC for more than 20 years, most recently serving as Senior Partners.
Louis Brenninkmeijer, co-Chairman of Bregal Investments, says: "We are
Fiona Le Poidevin (pictured), Deputy Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry – explores why conditions are right to consider re-domiciling or co-domiciling funds in Guernsey.
The global financial crisis initially came to a head in 2008, yet more than three years later and the wave of repercussions continues, particularly in the Eurozone but also through the ongoing worldwide economic downturn.
Guernsey has proved extremely resilient but as a leading international finance centre, the Island cannot be completely immune from these worldwide issues. However, the key indicators are suggesting that Guernsey, led by
Despite the intense economic headwinds in the second half of the year, global middle market investment bank Robert W Baird believes 2012 will be a strong year for M&A.
Baird, which posted a record year of results in 2011, with investment banking revenues up 50% and employee numbers rising 17% – has predicted increased M&A activity for 2012, thanks to an uptick in economic indicators and significant improvement in the credit markets.
Conditions are good for an increase in strategic acquisitions in 2012. M&A can be an effective tool for lifting the top line and generating margin improvement through
By Petrina Smyth and Noeleen Ruddy (pictured) – As a leading jurisdiction for the establishment of investment funds and structured finance vehicles, Ireland has seen commodity funds established for many years using regulated Qualifying Investor Funds, ranging from funds investing in precious metals to agricultural crop funds.
Prior to the Finance Act 2011, Irish unregulated fund and structured finance vehicles (SPVs) were only permitted to hold financial assets, and therefore were not an option for commodity funds that were to hold physical assets, as opposed to gaining exposure to the underlying assets through a derivative. The act extended the list
High Road Capital Partners has sold Milwaukee Gear Company for USD80 million, marking the first exit for the firm’s debut fund, High Road Capital Partners Fund I, LP.
The sale generated a 2.6x gross cash-on-cash return and a 31.6% gross IRR for High Road. The firm’s July 2008 investment in Milwaukee Gear was also its first acquisition.
Milwaukee, Wisconsin-based Milwaukee Gear manufactures custom precision gears and drives used in a variety of industrial applications. The company was acquired by Regal Beloit Corporation (NYSE: RBC).
“In the three and a half years High Road owned the company, we grew
DC Advisory Partners has appointed Andrew Strudwick as an Executive Director in its European Financial Sponsors Group. Strudwick will join Simon Tilley’s team, which provides a focal point for DC’s interaction with the private equity community. He will be based in London.
Strudwick’s last role was at 3i Group PLC (“3i”) where he had worked as an Investment Director since 2006. Andrew co-founded 3i’s UK TMT team and took a lead role on key transactions such as the GBP350m take-private of Civica plc, engaging on all aspects of the investment cycle. Outside of TMT, Andrew has worked on high-profile transactions
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