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HarbourVest Global Private Equity’s estimated Economic NAV at 30 November is USD910.9 million, or USD11.01 per share, down 1.6% (USD0.18) per share from 31 October. This change was driven by decreases in the value of publicly-traded holdings to 30 November 2011 (approximately USD0.10 per share), negative foreign currency movement (USD0.10 per share), and ongoing operating expenses (USD0.02 per share).
These changes were partially offset by an increase in the valuation of the investment in Absolute Private Equity, Ltd. (“Absolute”) (USD0.03 per share) and increases in the value of privately-held investments as a portion of the portfolio was re-valued to reflect
In the wake of inflationary pressure, the on-going loosening by China of its monetary policy is likely to be a key catalyst in ensuring the outperformance of emerging market equities compared to developed markets. However, with the crisis in the Eurozone spreading out further towards the core countries in the monetary union, earnings in the region are set to decline by up to 10%, says Maarten-Jan Bakkum (pictured), Senior Emerging Market Strategist, ING Investment Management…
China’s easing of its monetary policy may well be the catalyst for outperformance of emerging market equities versus developed markets. This comes in the wake
PowerCloud Systems, a leading software platform provider for enabling Networking as a Service (NaaS), has secured USD6 million in Series B financing. The round was led by Qualcomm via its venture investment arm, Qualcomm Ventures. PowerCloud Systems’ existing investors – Walden Venture Capital, Javelin Venture Partners and PARC – all participated in the round.
Quinn Li, Senior Director of Qualcomm Ventures, says: "Qualcomm Ventures is focused on funding transformative business opportunities," said Quinn Li, senior director of Qualcomm Ventures. "PowerCloud’s technology platform enables powerfully simple networking-as-a-service solutions that can redefine the small-business networking market. PowerCloud’s innovative business model is compelling
LDC-backed MB Aerospace Holdings (MBAe), one of the UK’s leading aerospace companies, has acquired US-based Gentz Industries in a multi-million pound deal.
This strategic acquisition will double the size of MBAe’s current operations creating an international brand with total revenues in excess of USD80 million per annum. The enlarged group will focus on the supply chain management, manufacture and repair of highly complex machined and fabricated components for global aerospace and defence original equipment manufacturers.
Gentz Industries, based in Detroit, Michigan, has an established reputation within the global aerospace industry, manufacturing complex, high-precision engine components for customers including Pratt
Ashurst LLP has advised GE Capital Equity, General Electric’s investment vehicle, as well as the Fonds Stratégique d’Investissement (FSI), on their minority investments in the group AD Industrie.
An industrial group founded in 2004, and formed by successive acquisitions, today AD Industrie is a large French contractor specialised in the manufacturing and assembly of hydraulic units and networks and mechanical precision parts for the aviation, defence and energy sectors. The group’s turnover was EUR113 million in 2010 and it has almost 1500 employees, mainly in France.
These investments aim to support AD Industrie with its external growth strategy and in
Trade sales led realisation activity in 2011, according to the latest listed private equity Cash Flow Compass report published by LPEQ and Deloitte.
The report reveals that some 57% of direct fund realisations in 2011 consisted of trade sales as companies used their record cash surpluses to buy attractive business. This was almost double the 29% for the whole of 2010. Secondary buyouts fell to 20% in 2011 from 39% in 2010.
Furthermore, realisations were across a larger range of sectors in 2011 compared to 2010, with deals in the healthcare industry comprising 40% of the total in 2011, followed
The European Commission last week proposed a directive to regulate venture capital funds. David Blair (pictured), Head of Regulation at law firm Osborne Clarke, says the new proposals will hinder rather than benefit venture capitalists…
The European Commission describes its proposal for a Venture Capital Funds Regulation as an attempt to grow levels of venture capital investment in Europe through the creation of a European passport that will enable venture capital fund managers to market their funds without seeking authorisation in each member state.
When initially announced, it was welcomed in principle by the British government. In fact, if left
Willem Sels (pictured), UK Head of Investment Strategy at HSBC Private Bank, on last week’s ECB meeting…
The European Central Bank (ECB) last week provided the expected 0.25% rate cut and came to the rescue of banks, but not Eurozone governments. It gave a big boost to banks, by agreeing to provide longer term liquidity against a broader set of collateral. Senior bonds of better capitalised banks in core Europe may benefit from the ECB’s decision. On the sovereign debt side however, liquidity risks are still substantial.
We do not share Mr Draghi’s view that European governments’ efforts to cap
The Burgiss Group, a Hoboken, NJ-based solutions provider to the private capital markets, has announced a strategic partnership with Citi Private Equity Services (Citi PES), a provider of accounting, administration and tax services to private equity, venture capital and institutional investors.
Private capital investors are facing an increasing burden to consolidate data, track returns and administer investments across multiple funds and administration agents. Responding to this need, Citi has partnered with the Burgiss Group to leverage their software and data services to deliver integrated investment reporting and analytics that are seamlessly integrated into Citi’s private capital administration service. These solutions,
Cross Atlantic Capital Partners led the Series A financing round for Sagence Group, a management consulting firm focused on providing data strategy, management and analytics services to companies in Financial Services, Insurance, Healthcare, Consumer Services and Consumer Products industries. Terms of the deal were have not been disclosed.
In addition to providing working capital, the investment will enable the company to expand sales and marketing and hire additional professional services staff.
“We believe that Sagence Group is unique in its ability to help its clients use their information assets in a strategic manner, due in large part to the management’s
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