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Newly-launched AltResources is to provide private equity (PE) funds with accounting, tax, and compliance services.
The firm is led by founder and managing director John Wiencek, who was previously managing director and head of North American operations for Mourant Fund Services, a leading fund administrator that was acquired by State Street in 2010. The AltResources team includes highly knowledgeable individuals with experience in accounting, tax, law, finance and asset management.
"Managers of private equity funds want to focus on what they do best – finding investments and managing portfolios," says Wiencek. "Record-keeping, regulatory compliance and tax paperwork are not their
Collins Stewart, the US Securities Division of Collins Stewart Hawkpoint, and Morgan Joseph TriArtisan LLC, have formed a joint venture, CSMJ Capital Markets.
Within the US, CSMJ Capital Markets will enhance the capabilities of each firm to originate and execute domestic US public and private equity offerings and placements. To this end Collins Stewart LLC’s US equity sales and trading personnel will work with the investment and merchant bankers of Morgan Joseph TriArtisan.
"With the extensive distribution capabilities of Collins Stewart and the client base and investment banking expertise of Morgan Joseph TriArtisan, this joint venture will be one of
In light of the current fiscal and monetary concerns that are gripping the minds of investors around the world, Institutional Asset Manager asked the heads of some of the world’s leading asset managers to share their thinking on portfolio management trends post-Lehman and beyond 2011 in concise fashion. Catherine Vaughn (pictured), Managing Director and Head of Asset Management, Highbridge Capital Management, examines alternative investments:
"The last three years have been a period of assessment and change for the alternative investment industry. While alternative asset managers continued to focus on generating positive absolute returns in a volatile market, they also invested heavily
Pinetree Capital has acquired ownership of 290,000 common shares of Caledonia Mining Corporation through the facilities of the TSX Venture Exchange, representing approximately 0.06% of the total issued and outstanding common shares of the company as of 11 November, 2011.
As a result of this transaction, Pinetree and its joint actors collectively held, as at 11 November, 2011, an aggregate of 50,263,000 common shares of Caledonia, including the Common Shares, or approximately 10.04% of the total issued and outstanding common shares of Caledonia as of 11 November, 2011.
Of these totals, Pinetree owns 48,250,000 common shares, including the Common Shares,
The level of excess return (alpha) from private equity investments compared with those in stock markets is largely dependent on the fund manager, according to a new study, "Finding Alpha 2.0" by Golding Capital Partners and HEC School of Management in Paris.
According to the research, which is based on data from over 4,200 realised private equity transactions carried out in Europe and the USA between 1977 and 2010, fund managers are the main driver of private equity’s alpha. They generate above average excess returns when they have a high degree of industry specialisation, great expertise and particularly strong deal
Middle East and Africa-focused private equity firm Citadel Capital SAE has received formal Board approval for a new ten-year, USD150 million (EGP900 million) financing facility from the United States Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution. Of the total amount, USD125 million is specifically designated for investment in Egypt.
The USD150 OPIC financing would, if added to the proceeds from the firm’s fully-subscribed USD175.6 million (EGP1.05 billion) rights issue, give Citadel Capital a total of USD 325 million (EGP 2.0 billion) of long-term capital. The firm also expects to add a further USD50 million to its
Zoomingo has secured USD1.3 million in financing from two leading early-stage venture capital firms — Naya Ventures and Benaroya Capital — as well as several prominent angel investors.
Zoomingo is a new mobile "shopping discovery" app that provides consumers instant access to thousands of sale items on fashion, beauty, and home goods at top retailers in local markets nationwide.
The funding round is the first for the Seattle-based startup. It will be used to enhance the current application, build a retailer platform, and grow the Zoomingo community through expanded outreach to new customers and retail partners. Zoomingo is the brainchild
A continued shortage of lending from Western banks to emerging markets has helped to boost the performance of Cordiant Capital’s emerging market loan funds.
In its Annual Review the specialist emerging market loan fund manager says that new loans that it is writing continue to be at far higher margins than before the credit crunch – driving up its returns.
At the same time stronger economic performance across many emerging markets over the last year has meant that the list of its loans that Cordiant Capital has on its “credit watch” category has shrunk considerably.
David Creighton, CEO
Summit Materials has recently acquired Industrial Asphalt, Inc, Asphalt Paving Company of Austin, Inc and Ramming Paving Company, Ltd in Austin, Texas.
Industrial Asphalt, Inc. led by Jill Shackelford, is based in South Austin and operates a quarry and two asphalt plants. Asphalt Paving, led by Joseph Jackson is also based in Austin and is a longstanding paving business. Ramming Paving Company, Ltd (“Ramming”), led by John Ramming, is a quarry, asphalt, and paving services company with operations in Austin and San Antonio. All the management teams will remain in place and will continue developing the businesses under Summit management.
In light of the current fiscal and monetary concerns that are gripping the minds of investors around the world, Institutional Asset Manager asked the heads of some of the world’s leading asset managers to share their thinking on portfolio management trends post-Lehman and beyond 2011 in concise fashion. Georg Schuh (pictured), CIO, DB Advisors, responds:
"We are seeing more institutional investors adopting total-return targets, instead of managing their assets relative to traditional benchmarks. This trend has gathered momentum in recent quarters and will continue to do so.
"Total-return targets give a portfolio manager much greater flexibility: for example, it is possible
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