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Some 55% of companies that sought to make a transaction in the last 12 months failed to do so, according to BDO’s annul M&A survey, which polls the views of CEOs and Financial Directors of mid-market companies.
The survey fund that on average one transaction has been completed for every eight considered in the last 24 months, while 84% of businesses believe that mergers and acquisitions they have completed over the last 24 months have met or exceeded expectations.
In addition, acquisitions are being sought as drivers for growth; 85% of respondents have growth targets in excess of inflation, with
F&C Private Equity Trusts has reported a share price total return for the six months of 37.6% for the ordinary shares, one of the best-performing investment trusts regardless of sector.
The trust’s Net asset value total return for the ordinary shares was 8.3% over the same period, while the restricted voting shares saw net asset value total return of 15.4%.
Other key points of the trust’s half-yearly financial results include: realisations of GBP19m during the period, an increase of 60% over the first half of 2010; drawdowns and new investments of GBP14m during the period; and gearing on the Ordinary
As of 30 June 2011, NB Private Equity Partners unaudited NAV per share was USD10.96, which represents an increase of 5.6% compared to the audited NAV per share of USD10.38 at 31 December 2010.
During the first six months of 2011, NBPE’s private equity portfolio generated realized gains of USD23.9 million. The portfolio also had net unrealized gains of USD13.2 million from privately held investments, credit-related fund investments and public equity securities.
Investment performance during the quarter was offset by USD9.9 million of net operating expenses (including credit facility interest and ZDP share accretion), foreign exchange translation and taxes.
According to the Emerging Markets Private Equity Association (EMPEA), which manages a global proprietary database of private equity activity across emerging markets, 89 funds raised USD22.6 billion in the first half of this year, versus USD23.5 billion raised in all of 2010, putting emerging markets on track to potentially double 2010 fundraising totals in 2011.
The majority of growth in new capital continues to be driven by a handful of markets, with funds dedicated to investment in China, India and Brazil collectively drawing 70% of capital raised between January and June, versus 50% in all of 2010.
Pinnacle West Capital Corporation has sold APS Energy Services, a full-service energy service company, to Ameresco, Inc, a leading energy efficiency and renewable energy company.
Harris Williams & Co acted as the exclusive advisor to Pinnacle West. The transaction was led by Brian Lucas, Luke Semple and Tiff Armstrong from the firm’s Energy & Power Group.
“The acquisition is a great example of the strength of M&A activity in the energy efficiency sector,” says Brian Lucas (pictured), a director in Harris Williams & Co’s Energy & Power Group. “Energy efficiency remains the most practical and cost-effective solution for reducing
Representatives from Guernsey Finance visited China last week to further strengthen relationships in Shanghai and Beijing.
Peter Niven (pictured), Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry internationally and Fiona Le Poidevin, Deputy Chief Executive, spent two days in Shanghai and three days in Beijing.
Their itinerary included a visit to the Island’s representative office which was established in Shanghai at the end of 2007, as well as meetings with several Chinese banks, the China Banking Regulatory Commission (CBRC), the Shanghai Stock Exchange (SSE), the China Trustee Association and the Shanghai Bar Association.
In
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
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