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Last night’s announcement of an agreement between Euro-zone leaders and EU banks on the restructuring of Greek debt, recapitalisation of banks, leverage of the EFSF and a move toward common economic governance within the Euro-zone was the most credible political response to date to the sovereign debt crisis, says Barry Norris, partner, Argonaut Capiral Partners…
Whilst markets are relieved in the existence of a policy response, details of key parts of the plan such as the EFSF are vague and may not stand scrutiny. It is doubtful whether even after a 50% haircut for private creditors, the level of Greek
The Securities and Exchange Commission (SEC) has voted unanimously to adopt a new rule requiring certain advisers to hedge funds and other private funds to report information for use by the Financial Stability Oversight Council (FSOC) in monitoring risks to the U.S. financial system.
The rule, which implements Sections 404 and 406 of the Dodd-Frank Act, requires SEC-registered investment advisers with at least $150 million in private fund assets under management to periodically file a new reporting form (Form PF).
Information reported on Form PF will remain confidential.
Private fund advisers are divided by size into two broad groups –
Ares Management has appointed Suzanne Murphy as Global Head of Marketing and Investor Relations. In this new position, Murphy will work with the marketing teams for Ares’ Capital Markets, Private Debt, and Private Equity Groups in order to continue to meet Ares’ clients’ growing investment mandates.
“We are delighted that Suzanne will be joining Ares and believe this is an opportune time to provide additional resources to the marketing efforts of each of our Groups,” says Tony Ressler, Senior Partner of Ares. “As we continue to expand our investment opportunities and broaden our geographic reach, Suzanne’s more than 20 years
Following hot on the heels of it’s acquisition of C-nario, YCD Multimedia has completed a new USD6 million fundraising round led by Carmel Ventures, Opus Capital, Pitango Venture Capital and Plenus, together with other existing shareholders.
"We are delighted to have assisted this transaction and to be able to invest in the combined entity," says Avi Zeevi, C-nario’s Chairman and General Partner and Co-Founder of Carmel Ventures. "We can now combine the power of our individual strengths and core competencies to establish a leadership position in the digital signage industry. I would like to thank Tamir Ginat for leading C-nario
Pan-Africa private equity firm Emerging Capital Partners has made a US$32 million investment into IHS, a leading telecommunications infrastructure solutions provider.
IHS was founded in 2001 and has grown into one of the leading tower infrastructure companies in Africa. The Company offers an end-to-end suite of telecoms infrastructure solutions and counts blue chip mobile network operators MTN, Airtel and Etisalat among its customers. IHS currently has a footprint in Nigeria, Ghana and South Sudan and plans to open offices in Uganda and Kenya early next year.
Commenting on the announcement, Isaam Darwish, CEO of IHS, says: “We are excited
EMPEA has been selected as a Strategic Data Partner and emerging markets private capital data provider for the Private Capital Research Institute (PCRI) global research initiative, led by Harvard Business School Professor Josh Lerner. The PCRI aims to facilitate high quality academic research on the nature and impact of private capital in the global economy.
Professor Lerner says: "EMPEA is a leading source of global emerging markets data and is also an important partner in building greater understanding about the impact of private equity across markets. We welcome EMPEA’s support of our efforts to create more transparency around private capital
BDO LLP has published the latest results for Q3 from its Private Companies Price Index (PCPI) and Private Equity Price Index (PEPI).
The PCPI has seen price to earnings (P/E) multiples paid by trade buyers for private companies remain steady at 10.6 (Q2:10.8.) Since 2008, multiples have fluctuated between 9.0 and 12.0, but the consistency seen in the last two quarters indicates that private company pricing may be stabilising.
The Private Equity Price Index (PEPI) has increased considerably this quarter from 10.8 to 15.0 influenced by a higher proportion of deals in the technology sector which have commanded higher multiples
Hawksford Group has appointed Grant Osborn-Smith (pictured) as Swiss office manager. In his new role, Osborn-Smith, will be dividing his time between Jersey and Zurich and will be responsible for setting up the processes and procedures for a growing Swiss client base.
Osborn-Smith, 47, who was educated at St Michael’s school before studying at Eton College and Bristol University, began his career as a chartered accountant in Jersey. After moving into the trust sector, where he gained more than 12 years of experience, he then moved to Switzerland to set up a Zurich office for Rawlinson and Hunter. After establishing
The UK’s Business Growth Fund (BGF) has signed a strategic partnership agreement with the Scottish Investment Bank’s (SIB) Scottish Venture Fund to boost availability of equity funding for ambitious Scottish businesses.
The partnership will create significant potential investment opportunities of up to GBP10 million for Scottish businesses with a solid track record and demonstrable strong growth trajectory.
The Scottish Venture Fund was introduced in 2007 to support development of Scotland’s private SME funding market by participating in risk capital fundraisings from GBP2 million to GBP10 million, with up to GBP2 million of investment. In line with other SIB funds, the
JZ Capital Partners Limited, the London listed private equity fund that invests in high quality US and European micro cap companies, has realised its investment in Dantom Systems, Inc (Dantom) for USD40.5 million.
The realisation represents a 4.8x multiple of equity capital invested, and a 27.5% IRR. The price realised was fully recognised in the NAV valuation as at 31 August 2011. As at that date, Dantom represented approximately 6.8% of JZCP’s NAV and was one of the top five holdings in the portfolio, by value.
Dantom is a Michigan based company that provides business process outsourcing solutions to
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