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David Evans and Samantha Lake Coghlan will join Goodwin Procter as partners in the firm’s London office.
Evans will become the London office Chair and will spearhead expansion of the firm’s presence in Europe, leveraging Goodwin’s presence in the real estate, fund formation and private equity sectors in the US. Evans and Lake Coghlan will focus on real estate private equity transactions, complementing Goodwin’s established London-based Hospitality and Leisure real estate practice, as well as its preeminent North American real estate private equity, REIT and real estate transactional practices.
“We’re delighted that David and Sam have chosen to join us. Their
First Reserve Corporation, a private investment firm in the energy industry, has entered into an agreement to provide an equity commitment of USD100 million from its Energy Infrastructure Fund to a joint venture with Energy Corporation of America (ECA).
Through the joint venture, First Reserve will own a 50% interest in two newly constructed gathering systems located in Pennsylvania’s Greene and Clearfield counties. Both systems service the Marcellus Shale which has been bolstered by strong drilling results for natural gas. The joint venture will operate under long-term contracts with a fixed take-or-pay structure.
In addition to the initial investment,
The Swiss Funds Association SFA supports the primary objectives of the partial revision of the Swiss Federal Act on Collective Investment Schemes (CISA). As part of the revision processes, it has submitted specific proposals for improvements aimed at safeguarding the competitiveness of Switzerland as an asset management location.
The SFA supports the objectives of the partial revision of the CISA: 1. to close gaps in the regulations, and 2. to bring it in line with the AIFM Directive so as to secure market access for the management, custody, and distribution of collective investment schemes. “We want to have the most
Many opportunities exist for the patient investor, says Thomas Becket, Chief Investment Officer, PSigma Investment Management…
We have just suffered the worst quarter for financial markets since 1928. Confidence is very low and markets are almost totally focussed on what might go wrong for the global economy.
The press and media certainly seem obsessed with trying to discover what the worst case scenario is for the global economy and financial markets. Whilst we are respectful of the downside pressures that remain for financial markets, we also believe that it is sensible to have a more balanced view of what might
Everything old is new again – at least that’s what Kaye Scholer investment funds Partner Thomas Stromberg (pictured) believes is the start of a new private equity trend.
“Cutting edge energy, financial services, healthcare and technology companies have been, and no doubt will continue to be, big draws for PE investors,” says Los Angeles-based Stromberg, who serves on the Board of Advisors of the Mezzanine Finance Symposium. “But private equity firms are again making significant investments in middle-market companies in more traditional sectors, such as industrials, manufacturing, even mainstream entertainments such as bowling alley chains.”
Stromberg, who works with several
Investec Specialist Bank’s (Investec) Fund Finance team has provided a GBP14 million debt facility to the management of Clyde Blowers Capital (CBC), a leading investor in industrial businesses.
The four year loan facility will enable the management of CBC to co-invest in the Clyde Blowers Capital Fund III (CBC Fund III). The target fund size of CBC Fund III is GBP350m with a hard cap of GBP400m. A second close is planned for later in the year. This will allow CBC to pursue the strong pipeline of deal opportunities it continues to build.
CBC Fund II, a GBP250m fund
Gresham Private Equity-backed James Grant Group (JGG) has acquired the entire issued share capital of Rabbit Vocal Management Limited, the leading London based Voiceover Management Company.
JGG is a leading provider of management and professional services to clients within the broadcast media, music and sports sectors.
Commenting on the deal, Mike Wallwork COO of JGG, says: “This acquisition is another step forward in developing a broad range of marketing services under the James Grant Group. We will seek to add further complementary companies which focus on the music, sport and entertainment sectors as and when the appropriate opportunities arise.”
The corollary to the recent falls in emerging market equities is that valuations begin to look attractive, says Bill O’Neill, EMEA Chief Investment Officer of Merrill Lynch Wealth Management…
The MSCI Emerging Market Index is trading (as at end September) on an 8.8x one year forward price earnings ratio, nearly 20% below its average since 2002. Similarly, on a price to book basis at 1.6x, the index is around 27.5% below its average since 2004. The argument is not clear cut, however. Relative to the MSCI World Index, the emerging market index relative P/E ratio is 10.8% above the average;
Oak Hill Capital Partners has made a USD55 million strategic investment in Southern Air. The investment by Oak Hill Capital, which has been Southern Air’s majority investor since 2007, will support the completion of Southern Air’s fleet renewal and the company’s continued growth.
Denis J Nayden, a Managing Partner of Oak Hill Capital, says: "We are very pleased to provide Southern Air with additional capital to support the ongoing transformation of the company. Southern Air’s new management team has done a great job of upgrading the company’s fleet and establishing relationships with some of the world’s outstanding cargo carriers. We are excited
The KBC group (KBC) has reached an agreement with Precision Capital for the sale of its dedicated private banking subsidiary KBL European Private Bankers (KBL EPB) for a total consideration of EUR1.050 billion, EUR50 million of which depend on the results of KBL EPB.
Precision Capital is a Luxembourg entity, a company representing the business interests of a Qatari investor.
KBL EPB is one of Europe’s largest onshore private banking groups with affiliated local banks in numerous locations across nine European countries: Belgium, France, Germany, Luxembourg, Monaco, the Netherlands, Spain, Switzerland and the United Kingdom.
As at 30 June 2011,
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