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Iona Capital, the UK renewable energy investment specialist, is launching a GBP10m Environmental VCT to fund waste-to-energy projects, principally focusing on Anaerobic Digestion.
The fund offers retail investors the potential for strong tax-free returns and a reduction in income tax bills while providing direct access to a low risk portfolio of Government endorsed waste recycling and renewable energy generation solutions.
The UK Government has set demanding waste reduction targets for local authorities and the publication of DEFRA’s Anaerobic Digestion Strategy report earlier this year identifies Anaerobic Digestion as a proven, lower risk technology to meet these targets. Anaerobic digestion is
Lyceum Capital has funded the merger of two of the UK’s biggest independent drainage companies – a transformative deal which creates a GBP50 million turnover, market-leader in the provision of specialist services to the household, industrial, commercial, transport and water sectors.
In January 2010 Lyceum Capital acquired a majority stake in the largest drainage claims manager in the home insurance market, UK Drainage Network (UKDN). The mid market investor has implemented a programme of organic growth which has driven a 30 per cent increase in revenues since the acquisition.
The merger of UKDN with Slough-based Waterflow Holdings is
Michael Christopher Münnix has joined Munich-based venture capital firm Target Partners as an Associate, effective 1 October. Münnix, who holds a PhD in physics, will mainly be responsible for handling deal flow at Target Partners. He will also support the team in managing the firm’s portfolio companies.
“From the very start, I was enthused by the entrepreneurial spirit that I experienced at Target Partners,” says Münnix. “I am very excited at the prospect of working on projects on a daily basis that involve the most innovative, cutting edge areas of software and technology. It is also clear from the successful
HarbourVest Global Private Equity Limited’s (HVPE) estimated Economic Net Asset Value stood at USD1,098.0 million, or USD11.02 per share, as at 30 September 2011. This is a 0.3% (USD0.03) decrease from the 31 August 2011 estimated Economic NAV per share of USD11.05.
This change was driven by an increase in the valuation of HVPE’s investment in Absolute Private Equity, Ltd. (approximately USD0.38 per share), which was offset by negative foreign currency movement (USD0.18 per share), decreases in the value of publicly-traded holdings to 30 September 2011 (USD0.13 per share), transaction costs and accrued performance fees related to the Absolute investment
GPs that closed their funds in 2008 still have a combined USD204 billion in dry powder to invest from these vehicles, the latest Preqin research reveals.
As the average private equity fund investment period is five years (real estate funds are the exception), these GPs will be under a considerable amount of pressure to invest both to avoid exercising clauses to extend the agreed investment period and to provide timely returns on capital.
A record USD679 billion was raised by the 1,308 funds that closed in 2008 but there are examples of funds that closed during the boom year that
Emerging Capital Partners, a Pan-African private equity specialist, has signed a co-operation agreement with the International Finance Corporation (IFC) to participate in its Private Equity Africa Climate Change Investment Support program. ECP is the first private equity firm to participate in the program.
The program, funded by the Norwegian Government, is designed to enhance sustainability best practices in Africa. Through the program, the IFC works with private equity fund managers and provides advisory services in Sub-Saharan and North Africa by identifying resource efficiency and other sustainability-related cost-savings opportunities, in this instance for Emerging Capital Partners’ Pan-African Fund portfolio companies.
Vision Capital has agreed to sell Terphane to Tredegar Corporation (NYSE: TG), a global manufacturer of plastic films and aluminium extrusions, for USD188 million.
Under Vision Capital’s ownership, Terphane, a leading manufacturer of speciality polyester films with operations in Brazil and North America, has made rapid operational and financial progress, benefiting from a clear strategic and operational business improvement plan.
Andrew Hawkins, a Managing Partner at Vision Capital, says: “The strategic plan and investment we have made in Terphane have yielded excellent results. The business is now on a very strong platform for future growth. Tredegar is a world leading
Cleary Gottlieb is representing JC Flowers & Co in its EUR243.6 million acquisition of Fidea (Belgium) from the KBC group. The transaction was signed on 17 October, 2011 and is expected to be completed in the first quarter of 2012, subject to customary regulatory approvals.
The divestment of Fidea is part of KBC’s wider restructuring plan, approved by the European Commission, following government support received by KBC in 2008.
Fidea is a complementary insurance distribution channel (under a separate brand name) that KBC used in addition to its core bancassurance platform built around tied insurance agents and bank branches. It
Monique Melis, a Member at financial advisory firm Kinetic Partners, on the sentencing of Raj Rajaratnam to 11 years in prison for insider trading…
Judge Richard Holwell’s agreement with the recommendation that sentencing should be 20-24 years shows that insider dealing will attract the same custodial sentencing as accounting fraud and Ponzi schemes. This latest ruling sends a clear message to executives in the financial services industry that they need to take market abuse and internal controls seriously. It should be noted that the sentence was only lowered due to ill health and no allowance was given to wait outside
APAC Customer Services, Inc has been acquired by One Equity Partners (OEP) the private investment arm of JPMorgan Chase & Co.
One Equity Partners paid APAC stockholders USD8.55 per share in cash, which represents a premium of approximately 57% over APAC’s closing share price on July 6, 2011, the last trading day prior to the announcement of the transaction.
One Equity Partners is the majority owner of NCO Group, Inc, a leading global provider of business process outsourcing services. As previously disclosed, OEP intends to continue to seek to combine APAC with NCO Group to build market leadership in business
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