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Guinness Asset Management has launched the Guinness Renewable Energy EIS Fund 2 to make follow-on investments in EIS qualifying companies that have already received investment from the Guinness Renewable Energy EIS Fund (Fund 1).
The Investee Companies will primarily develop, install, own and operate roof-mounted solar PV projects in the UK.
Returns from these opportunities have improved over 2011: EIS income tax relief has risen from 20% to 30%, solar panel prices have fallen by an estimated 35% and the Feed-in Tariffs have increased by 4.8%.
The ability to take advantage of this opportunity only exists until April 2012, when
The Blackstone Group and ACM Projektentwicklung GmbH thave agreed a strategic partnership whereby investment funds advised by Blackstone will acquire, indirectly through a holding company, a 44% minority stake in Leica Camera AG (Leica), to support the company’s international growth plans.
Headquartered in Solms, Germany, with 1,150 employees, Leica has a long tradition of manufacturing premium-segment cameras and sport optics products. Over the past sixty years, Leica has grown to become a leading German brand and is seen as the epitome of German engineering excellence and an ambassador of the “Made in Germany” quality seal. Leica has become synonymous with
Global alternative asset manager The Carlyle Group has reached an agreement to acquire an 85% share of Telecable de Asturias SAU (Telecable), a Spanish-based TV, telephony, broadband and advanced business solutions provider for the Asturias region in Spain.
Liberbank will retain a minority stake after the transaction, which is expected to close by year-end. The transaction values the company at EUR400 million; equity for this investment will come from Carlyle Europe Partners III (CEP III), a EUR5.3 billion investment fund advised by The Carlyle Group.
Telecable is a well-established telecommunications provider with 156,000 fixed and mobile voice and Internet
Aberdeen company Phuel Oil Tools Limited has become one of the first businesses to access the Scottish Loan Fund (SLF), as announced by Finance Secretary John Swinney (pictured).
Phuel Oil Tools, which specialises in developing and manufacturing wireline pressure control equipment (PCE) for the oil & gas sector, has secured a GBP1 million loan from the SLF, which is managed by Maven Capital Partners UK LLP (Maven).
Improving access to finance in order to support growth and investment is a key part of the Scottish Government’s economic strategy. The SLF has been established by the Scottish Investment Bank, a division
MMC Ventures (MMC), the growth company investor, has appointed Simon Menashy to its investment team. MMC’s investment professionals manage funds of GBP80 million and a portfolio of thirteen companies. The current portfolio includes AlexandAlexa, E-Trader, Interactive Investor and iiPay.
Menashy joins from Deloitte, where he was a senior consultant in the TMT Strategy practice. Simon advised major telecoms and media clients across Europe including the BBC, BT, Thomson Reuters and several cable operators.
Menashy graduated in Physics and Space Research from the University of Birmingham, where he continued as a postgraduate at the Business School. He was also a student
Business Growth Fund (BGF) has invested in Statesman Travel Group (Statesman), an independent travel management company providing a comprehensive service to blue chip corporate and private clients.
BGF is working hard to give confidence to fast-growing UK businesses by providing much needed long-term capital, support and advice through a seat on the board of these companies, and working with debt providers to unlock additional credit.
BGF has invested GBP4.25m of growth capital in Statesman and will take a minority stake and a seat on the board. BGF investment, together with additional funds from existing shareholders and support from Lloyds
RCP Advisors, LLC, an independent sponsor of private equity funds-of-funds, secondary funds, and co-investment funds, focused on North American lower middle market buyouts, has closed its seventh fund-of-funds, the USD300 million RCP Fund VII, LP.
“We are gratified by the confidence that our partners have shown in us, particularly during such a tough fundraising market,” says Charles Huebner, Managing Principal and Chief Investment Officer at RCP Advisors. “The investment merits of smaller buyout investments continue to resonate with investors. If anything, the financial crisis has highlighted the relative benefits of investing in this sector and our methods of selecting the
Paul Costello has joined the Blackstone Group as non-executive Chairman for Australia and New Zealand. Costello will help guide the firm’s development in the region and represent the firm with its key constituencies there. Mr. Costello was most recently General Manager of Australia’s Future Fund.
He will report to Tony James, Blackstone’s President and Michael Chae, who heads private equity for the firm in Asia-Pacific and is also responsible for the firm’s limited partner relationships in the region.
Chae says: “Australia is a market of long-term importance to Blackstone both for the increasing number of institutions there that are choosing
The Institutional Limited Partners Association (ILPA), a not-for-profit organisation committed to serving institutional investors of private equity, has released its latest set of Standardised Reporting Templates as part of its continued commitment to drive asset class best practices and support long-term partnerships between Limited Partners (LPs) and General Partners (GPs).
“As previously reported, this initiative is part of an effort to generate greater industry efficiencies, improve uniformity and transparency, and reduce expenses in administering and monitoring private equity investments,” says Tim Recker, Managing Director of the University of California Regents, and Chairman of the ILPA. “The committee responsible for driving
Statoil ASA and Brigham Exploration Company have entered into a merger agreement for Statoil to acquire all of the outstanding shares of Brigham for USD 36.5 per share through an all-cash tender offer.
The Brigham Board of Directors has unanimously recommended to its shareholders that they accept the offer. Ben "Bud" M. Brigham, Chairman, President and CEO and the other executive officers and directors of Brigham, who collectively own approximately 2.5% of the outstanding shares, have agreed to tender all of their shares. The total equity value is approximately USD 4.4 billion, reflecting an enterprise value of approximately USD 4.7
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