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Baronsmead is aiming to raise approximately GBP4.135 million through offers for subscription to each of its four VCTs – Baronsmead VCT plc, Baronsmead VCT 2 plc, Baronsmead VCT 3 plc and Baronsmead VCT 4 plc – before expenses, this being the Sterling equivalent of just under EUR5 million for each company.
Each company ranks among the largest VCTs in the generalist sector and between them have a combined net asset value of GBP235 million as at 30 November 2011. The Companies were established between 1995 and 2001 and each has an existing portfolio of 64 to 72 companies. As at 30 November
General Atlantic has opened a new office in Singapore. The office is led by Managing Director Abhay Havaldar, while Nick Nash, a Vice President with GA, has relocated to Singapore from New York to join the new Singapore team.
The Singapore office is GA’s tenth office globally and its fourth office in Asia, joining established offices in Beijing, Mumbai and Hong Kong. GA opened its first office in Asia in 1999 and has invested nearly USD2 billion to support the growth of two dozen Asia-based companies. Recent investments in Asia include IndusInd Bank (BSE: 532187), a bank and financial services provider
SteelPath Advisors has launched the SteelPath MLP & Infrastructure Debt Fund and the SteelPath MLP Alpha Plus Fund. These funds are actively managed by Gabriel Hammond, Stuart Cartner, and Brian Watson and provide a simple solution to access MLPs without the complexities of K-1s and Unrelated Business Taxable Income (UBTI).
Hammond and Cartner are current Portfolio Managers on other SteelPath fund offerings (SteelPath MLP Alpha Fund, SteelPath MLP Income Fund, and SteelPath MLP Select 40 Fund). Watson joins as co-portfolio manager on the new offerings while retaining his duties as the firm’s Director of Research.
"Given Brian’s extensive involvement as
Emily Benson, Director at financial advisory firm Kinetic Partners, on the Treasury Select Committee’s report on the role of the new Financial Conduct Authority…
Today’s report on the role of the new Financial Conduct Authority (FCA) indicates the intention to build something genuinely new and better, and the determination of Government to rectify the regulatory mistakes of the past, particularly those which have hurt the consumer, such as the mis-selling of payment protection insurance and endowment mortgages.
There is a clear recognition that the culture of the new FCA must evolve from current arrangements, becoming a more efficient and responsive
ABS Group of Companies has concluded its acquisition of Safetec Nordic AS, with a signing ceremony attended by senior ABS, ABS Group and Safetec management in Trondheim, Norway, on 5 January, 2012.
ABS and ABS Group Chairman, Robert D Somerville, ABS Vice President David Weinstein, ABS Group CEO and President Tony Nassif and ABS Consulting President David Walker, joined Safetec CEO Jan Morten Ertsaas, Safetec Board Chairman Jon Daniel Nesje and Professor Jan Erik Vinnem to sign the agreement bringing Safetec into the ABS Consulting organisation.
The acquisition of Safetec will broaden the range of solutions and services provided to
Los Angeles private equity firm Aurora Capital Group has appointed Steven D Smith as Partner. In addition, Michael J Marino has been promoted to partner with Aurora Private Equity, while Ryan McCarthy has been promoted to partner with Aurora Resurgence.
Gerald L Parsky (pictured), Chairman of Aurora Capital Group, says: "We are very proud to make each of these announcements. The addition of Steve Smith, whose investment and leadership experience spans a highly distinguished career at UBS and DLJ in leveraged finance and restructuring, will add value not only to each of our traditional investment programs in Private Equity and
Kelso Place Asset Management, a UK-based special situations investor, has acquired a significant stake in OpenGate Capital’s fashion label Nicole Fahri.
Under the terms of the agreement, Kelso Place will use its strong track record in the luxury brand space with brands such as Smythson and Anya Hindmarch, to provide financial, strategic and hands-on, operational support to ensure the further growth of the business.
OpenGate has been making operational enhancements to Nicole Fahri since acquiring the brand in March of 2010 from French Connection plc.
"With the luxury brand expertise of Kelso Place on board and our phase one operational
Maveron LLC, a consumer-only venture capital firm with offices in Seattle and San Francisco, has named Jason Stoffer to the role of partner effective immediately. Stoffer was previously a Principal at Maveron, which he joined in 2007.
With long-term operational experience in the online education field, and nationally recognised for his acumen in the early stage for-profit secondary education, Stoffer will continue to focus on Maveron’s investments in education. He will also continue to identify and invest in key e-commerce and web-enabled consumer businesses. He is currently a board member of Gigi Hill and Latimer Education and is a Board
Tom Behlau has founded Tarpon Hill Capital, a private equity firm that will exclusively invest in next-stage companies that develop innovative technologies for regulated industries such as Life Sciences, Financial Services, and Healthcare.
Tarpon Hill will form partnerships with entrepreneurs at companies that have revenue of at least USD1 million with recurring revenue in their existing customer base. Member companies can leverage Tarpon Hill for business expansion, leveraged acquisitions, management buyouts, and shareholder recapitalisations. Beyond the capital contribution, Tarpon Hill will combine significant experience in operational management, information technology, finance, and legal matters.
Tarpon Hill is led by Tom Behlau,
TrueBridge Capital Partners, a boutique alternative asset investment firm, has closed its second venture capital and growth equity fund-of-funds, TrueBridge-Kauffman Fellows Endowment Fund II, at USD342 million, exceeding both its initial target and the size of its first fund. TrueBridge currently manages over USD700 million in assets across its funds-of-funds.
Fund II received commitments from limited partners, which include foundations and endowments, private and public pension funds, asset management firms, and high net-worth individuals. TrueBridge is strategically partnered with the Kauffman Fellows Program, an educational non-profit organisation with an 18-year history of identifying and educating the future leaders of the
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