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The Africa Health Fund, which is managed by private equity fund management company Aureos Capital, has invested USD4.5 million in Ghanaian hospital C&J Medicare.
The Africa Healthcare Fund was established in June 2009 by the International Finance Corporation (IFC), the Bill & Melinda Gates Foundation, the African Development Bank, and DEG , who jointly invested USD57 million. Other investors include a range of institutions such as a major European retail bank.
The fund’s objective is to help low income Africans to gain access to affordable, high quality health services through targeted investment in the provision of private healthcare. Its
Carried interest, as the profit share paid to fund managers, aligns the interests of the fund promoter and investors. Typically, managers cannot take their profit share until the end of the fund’s lifecycle, and the amount of carried interest is significant only if the fund clears a high performance hurdle. The taxation of carried interest has been a key issue in the UK and the US in the past few years, with some debate as to whether it should be taxed as income or as a capital gain.
In the UK, carried interest is currently taxed as a capital gain
Stone Point Capital has formed Access Point Financial, Inc, a newly-created specialty finance company focused on the hospitality industry. Access Point is a full-service lending and advisory platform that will provide financing to qualified franchisees of major hotel brands throughout the United States. The company expects to originate over USD1 billion of loans over the course of its first three years of operations.
Trident V, LP, a private equity fund managed by Stone Point Capital, is partnering with Jon S Wright and other members of the Access Point senior management team to form the company. Wright, who will serve as
TribeHR Corp, a leading social human resources platform for small and medium business, announced today that it has secured a USD1 million round of seed financing from Matrix Partners. The company will use the funds to drive product development and expand sales and marketing programs.
TribeHR offers a unique web-based human resource (HR) platform that is open, social and designed exclusively for small and medium business (SMB). The SaaS-based solution engages employees and managers in the HR process with tools that simplify and automate their ability to track employee development, vacation and sick time, job postings, goal setting and much
O2 Investment Partners has appointed Luke Plumpton to its Investment team. Plumpton will be responsible for evaluating, structuring, negotiating and financing transactions, as well as monitoring O2’s portfolio companies.
Prior to joining O2, Plumpton was the Director of Strategic Planning for Hanford Pharmaceuticals, a contract manufacturer and global supplier of aseptically processed antibiotics. His primary responsibilities included new business development and managing turnaround and cost cutting initiatives for the company. Prior to Hanford, Plumpton was instrumental in the buildup of Square 1 Bank, a venture debt bank serving high growth life sciences and technology companies. Prior to Square 1, he
By Simon Gray – A debate is underway in Luxembourg about whether this civil law country, already a major European hub for private equity acquisition and transaction vehicles, should wholeheartedly embrace the Anglo-Saxon common law concept of the limited partnership in order to seize a larger share of the global market for fund vehicles.
At the centre of the discussions is the Société en Commandite Simple (Secs), a pass-through vehicle, with the objective to create a limited partnership on the model of the UK partnership. An industry working group is examining whether this structure could be adapted to create a
By Olivier Sciales and Rémi Chevalier – Luxembourg’s private equity industry faces a range of challenges but also opportunities as a result of the implementation of the European Union’s Directive on Alternative investment Fund Managers, which was agreed by the European Parliament in November 2010 and formally adopted by the EU Council, following a lengthy tidying-up process, in May 2011.
The directive aims to create a single European internal market for alternative fund managers and a harmonised regulatory framework for all alternative managers active within the EU, whether they are based within the union or not. It does not regulate
By Simon Henin – If there’s such a thing as a winner from the recent economic downturn and the growth of regulation in the private equity industry, arguably one might be Luxembourg.
As private equity investors have become more cautious, fund managers have looked for reputable and well-regulated jurisdictions to domicile their funds – and this has played to Luxembourg’s strengths. Its EU membership status has also gone down well with managers with a European investor base in the light of the forthcoming AIFM Directive.
This has certainly been our experience. A specialist private equity fund services firm, Ipes established
By Simon Gray – The advent in July 2013 of the European Union’s Alternative Investment Fund Managers Directive could help Luxembourg to consolidate its position as a domicile and servicing centre for private equity funds and acquisition vehicles, according to industry members and analysts in the grand duchy.
Luxembourg is best known as a centre for retail funds established under the EU’s Ucits regime, which allows funds established in one member state to be freely marketed to investors throughout the 27-country bloc as well as other members of the European Economic Area. Its total fund assets of EUR2.22trn at the
Tradition Midstream has closed a USD200 million equity commitment from Denham Capital. The funding will help the company take advantage of the increasing need for new and expanded infrastructure required by the continued growth of natural gas, natural gas liquids and crude oil production in the United States today.
“There is a tremendous opportunity for an established midstream management group to assist producers and consumers in developing, constructing and operating infrastructure in emerging shale plays across the US,” says John O’Shea, CEO of Tradition. “Tradition’s team has an excellent track record of providing value-added solutions for our customers by serving
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