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Investment firm TPG Capital is to become a major shareholder in Saxo Bank. Following a purchase agreement signed this week, a TPG Capital affiliate will acquire a 30% stake in the company (along with an option to increase its stake to 40%) from existing investors, including General Atlantic, a global growth investor and Banco Espirito Santo, a leading Portuguese bank, amongst others.
The founders, Kim Fournais and Lars Seier Christensen will retain majority ownership and continue in their roles as CEOs, also in the event that TPG Capital exercises its option to acquire 40%. TPG Capital’s investment is subject to
Harvest Capital Strategies, the alternative asset management arm of JMP Group Inc has formed Harvest Capital Credit LLC, a specialty finance company providing structured credit to small businesses.
Richard P Buckanavage, who was formerly president and chief executive officer of Patriot Capital Funding, Inc, serves as president of Harvest Capital Credit and is joined by longtime colleague Ryan T Magee. Buckanavage and Magee are based in New York.
“Harvest Capital Credit is a dedicated provider of growth and opportunity capital to small businesses located throughout the US,” says Joseph A Jolson, JMP Group’s chairman and chief executive officer. “Although Harvest
In connection with its conditional acquisition of a portfolio of 38 mid-market buyout co-investments in an all share transaction valued at approximately USD91.9 million, JP Morgan Private Equity Limited (JPEL or the Company) has been informed that Liberum Capital Limited, acting as broker on behalf of the SPL Funds, has conditionally placed all New 2017 ZDP Shares with institutional investors.
The conditional placing was oversubscribed and will satisfy the Acquisition condition that at least 25 per cent of the total number of 2017 ZDP Shares issued are held in public hands.
As announced on 16 August, as part of the
Jersey Finance chief executive Geoff Cook on the latest developments in the island’s fund industry post AIFMD…
When I last wrote about the Jersey Funds sector in April of this year, issues and concerns surrounding the Alternative Investment Fund Managers Directive (AIFMD) were finally beginning to settle down, and we found ourselves in a situation where we could move forward.
Since then, the AIFMD has come into law and Jersey’s Private Placement regime continues to facilitate EU business. For those requiring AIFMD compliant access to EU markets, activity to achieve the criteria to participate in the passporting scheme is well
Aleva Neurotherapeutics, a company developing next-generation implants for Deep Brain Stimulation (DBS) in major neurological indications such as Parkinson´s disease or depression, has closed a Series A financing round totalling EUR 9.5 million.
Aleva was founded in 2008 as a spin-off from the Ecole Polytechnique Fédérale de Lausanne (EPFL) Microsystems Laboratory.
The round was funded by a group of seasoned industry specialists and co-led by BioMedInvest AG (managed by BioMedPartners AG, Basel, Switzerland) and BB BIOTECH VENTURES III, L.P. (advised by Bellevue Asset Management AG, Kuesnacht, Switzerland). Initiative Capital Romandie (Lausanne, Switzerland) and renowned private investors also participated in the financing.
An SEI Quick Poll shows a significant increase in the percentage of pension portfolios investing in alternatives when compared to the previous three years of polling.
This year, nearly eight out of ten (78 per cent) pension executives surveyed in the SEI Quick Poll reported their organisation had some allocation to alternatives in the pension portfolio, compared to 51 per cent in 2008, 53 per cent in 2009, and 65 per cent in 2010. However, while more plans in 2011 appear to be using alternative investments, allocations greater than 10 per cent of the overall portfolio appear to have decreased
Blue Sky Funds Management has appointed Jane Prior, former international Nabarro associate, as its commercial manager – a newly created role, which will further reinforce the firm’s stringent corporate governance approach.
Prior will provide in-house counsel for the development of Blue Sky’s fund offering and advise on a range of commercial opportunities in Blue Sky’s private equity and real estate divisions.
Blue Sky has grown rapidly in the past few years by developing high-performing and innovative alternative investment products for private clients, financial planners and institutions.
The firm now has USD200m in funds under management across private equity,
Infinity Group has launched Chongqing Infinity Funds, cooperations between Infinity Group and the Chongqing Banan District People’s Government that will be available both in RMB and US dollars.
The Chongqing Infinity RMB Fund is Infinity’s 11th city-level RMB fund. It is also Infinity’s first fund in China managed by its wholly foreign owned enterprise (WFOE). The target size of the RMB Fund is RMB6 billion, including MB500 million for the first round. Banan’s state-owned enterprise Chongqing Highway Infrastructure Construction Limited, together with three private-sector enterprises, Chongqing Zongshen Industrial Group, Chongqing Sifang Concrete Limited and Chongqing Dianya Real Estate Development Limited,
DryShips has acquired 3,000,856 shares of OceanFreight Inc. The shares were acquired from entities controlled by Anthony Kandylidis, the CEO of OceanFreight, under a purchase agreement entered into on July 26, 2011.
These shares represent a majority of the outstanding shares of OceanFreight. The consideration paid by DryShips for each OceanFreight share consisted of (x) USD11.25 in cash and (y) 0.52326 shares of common stock of Ocean Rig UDW Inc, par value of USD0.01 per share, with cash paid in lieu of fractional shares. The total consideration paid for those shares was USD33,759,671.08 in cash and 1,570,226 shares of Ocean
Brynwood Partners VI LP’s portfolio company, High Ridge Brands Co – owner of the North American Zest personal cleansing franchise – is to acquire the Alberto VO5 brand and marketing rights in the US and Puerto Rico from Unilever. In addition, High Ridge will also acquire the rights to the Rave brand and marketing rights worldwide.
Unilever has retained the rights to the Alberto VO5 brand outside the US and Puerto Rico. High Ridge Brands is based in Stamford, CT and Brynwood VI is its majority owner. The transaction, which is subject to approval by the US Department of Justice,
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