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By Simon Gray – With the private equity industry yet to recover fully from the market convulsions of 2008 and 2009 and economic concerns still weighing heavily on investment decisions, the outlook is uncertain for service providers to the sector, who have seen new business flows slacken since the onset of the crisis. However, there is cautious confidence throughout Guernsey firms that the island’s embedded experience in a field that favours specialist expertise will serve it well in a difficult environment.
“Our experience has been very positive,” says Andrew Boyce of law firm Carey Olsen. “Guernsey has done well in
By Andrew Boyce – Several headline factors will shape the short- to medium-term future of the private equity sector. Funds that had reached the end of their investment periods before the financial crisis have been unwilling or unable to exit investments as a result of the consequential hit on values. At the same time, funds launched just prior to the crisis have not yet been able to hit investment targets despite the end of their investment periods fast approaching.
At the time of writing, events in Greece and the looming wider eurozone crisis threaten the raising of new funds and
For more than two and a half years the private equity sector has been examining how the European Union’s Directive on Alternative Investment Fund Managers will affect their operations in areas such as remuneration, leverage and transparency. But Aztec Group general counsel James Bermingham (pictured) argues that the way the directive is drafted may result in much private equity activity falling outside the scope of the legislation altogether.
“Although everyone is focusing on the contents of the directive and whether the depository is a good idea or not, or whether you will need EUR10m in share capital on the balance
By Gavin Farrell – Guernsey has developed as a platform for the private equity world over the past two decades since it first stole a march on rival jurisdictions by offering a welcome to alternative investment products. In the intervening years the island has built up its experience and expertise in specialist private equity administration, but also a legal and regulatory environment for private equity funds, which continue to grow strongly despite the onset of the financial crisis.
In retrospect, private equity funds that had acquired commitments from investors immediately before the crisis and had closed their fundraising process seemed
By Simon Gray – From a jittery market environment plagued by investor fears over the creditworthiness of European sovereign debt, the solidity of banks and the possibility of double-dip recession to the uncertainty surrounding a raft of impending regulation on both sides of the Atlantic, the private equity industry is confronting multiple hurdles as it looks to bounce back from the effects of the 2008-09 financial crisis.
Despite signs of an improving outlook, exits remain hard to achieve and initial public offerings have dried up again after a brief surge earlier this year; fundraising remains difficult for all but the
Global private equity firm Trilantic Capital Partners has partnered with management to acquire Implus Corporation.
Led by an experienced senior management team, Implus designs, markets and distributes branded consumer accessories, including insoles, shoe care products, socks, sports monitors, seasonal items and fitness products. The company supplies its products to specialty retailers and mass market chains in 70 countries across the US, Europe and Asia.
In the transaction, Trilantic will partner with founding family member and CEO Seth Richards and President Todd Vore to provide capital to allow the company to execute on its key growth initiatives.
"Trilantic is a partner
The Commodity Futures Trading Commission (CFTC) has approved a final rule requiring certain advisors to private funds that are dually registered with the CFTC and the Securities and Exchange Commission (SEC) to report information to the SEC for use by the Financial Stability Oversight Council (FSOC) in monitoring risks to the US financial system.
The SEC approved the joint rule on 26 October, 2011.
The Commissions’ final rules, which implement Sections 404 and 406 of the Dodd-Frank Act, require SEC-registered investment advisers and dually registered CFTC registrants with at least USD150 million in private fund assets under management to periodically
A new fund, Atlon Capital Partners, has formed to focus on middle-market buyouts in France. The firm was launched in October by Thibaut de Chassey and Edouard Thomazeau, both previously partners at French mid-market firm AtriA Capital Partenaires. Alton Capital Partners will focus on companies with an enterprise value between EUR30-50 million.
Atlon is an independent buyout firm that differentiates itself from its competition by its long-term commitment alongside entrepreneurs and its capacity to actively support them in their expansion projects in France and abroad, in particular through international add-on acquisitions.
Atlon has recently been approved by the French regulator
Private equity and venture capital funds in the US continued to generate positive returns for their investors during the quarter ending 30 June, 2011 — the ninth consecutive quarter of positive earnings for each asset class.
Both asset classes also closed the door on the first half of 2011 with quarterly and six-month returns that handily bested those of the public equity markets, according to benchmarks on the performance of private equity and venture capital funds published by Cambridge Associates LLC.
Solid second quarter results for private equity and venture capital bolstered their six-month returns and helped overcome a weaker
Freeport, a Carlyle Europe Real Estate portfolio company and a developer and operator of outlet malls in Europe, has completed its successful refinancing with new investment provided by a sovereign wealth fund from the Middle East.
Following the refinancing, it has also created a new entity for Freeport’s property management team, Freeport Retail, to provide specialist outsourced asset management services and is actively working with real estate investors across Europe.
Since its inception, Freeport Retail has already taken over the management of the Ringsted Outlet near Copenhagen, which is owned by TK Development AS and The Miller Group Ltd, and
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