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Guernsey’s engagement with Washington has resulted in Democrat Senator Carl Levin removing the Island from his “blacklist”. Guernsey’s Chief Minister Lyndon Trott (pictured) this week met with officials in Washington. The meetings continued a dialogue started nearly a decade ago to strengthen ties between the Guernsey and US governments and reinforced Guernsey’s reputation as a leader in tax transparency, information exchange and international co-operation.
This has led to a number of positive outcomes, with the latest example being Senator Levin this week unveiling a modified bill that no longer mistakenly lists the Island as an “offshore secrecy jurisdiction.” The Chief
CORESTATE Group, a specialist private equity investor based in Zug/Switzerland, with partner offices in Frankfurt, London and Luxembourg, has made a number of strategic appointments which will further strengthen its European investment and asset management expertise. Making four additional appointments, it has recruited Jerry Melchionna to its origination team in its London office as well as a Director and two Associates to its London and Frankfurt based teams.
Melchionna brings over 30 years of real estate investment, origination, finance, securitization, and advisory experience to CORESTATE. Before joining the team in London, Jerry was a Managing Director at Oppenheimer Investments
JZ Capital Partners Limited (JZCP), the London listed private equity fund that invests in high quality US and European micro cap companies, has realised its investment in AC TECH for USD18.2 million.
After deducting escrows, JZCP received net proceeds of USD18.2 million from the sale, creating a gain of USD5.5 million (USD0.08 per share) above the May 2011 valuation of USD12.7 million. JZCP purchased AC TECH in 2001 and earned a multiple of capital invested of 5.6x and an IRR of 34.6%. The terms of the transaction are undisclosed.
AC TECH, which is a manufacturer of sealants and
Regulation must be ‘targeted, appropriate and relevant’, says Dermot Butler, chairman of Custom House Global Fund Services Ltd and Custom House Group…
Despite numerous statements to the contrary, there are apparently many who believe that I am against regulation in our industry – this is not true. I am totally in favour of regulation that is targeted, appropriate and relevant. What I am against is regulation for regulations’ sake, badly written and ill thought through regulation and “blanket regulation”, originally targeted at one specific problem, but which is written in such a way as to take out everything and everybody
Amor Group, a business technology company backed by Growth Capital Partners (GCP), has made a strategic acquisition of FS Walker Hughes, a Manchester based specialist software business focused on the airport sector.
Amor provides products and services to the energy, transport and public sectors. This acquisition has increased employee numbers by 5% to 460 and forecast revenues for 2011 to GBP40 million. It forms part of Amor’s strategy to increase revenues to GBP70million by 2013 organically and via acquisition, as well as enhancing the firms existing software products.
FSW’s core product is an Airport Operational Database (AODB) called Chroma. The
Mid Europa Partners (Mid Europa), the largest private equity firm focused on Central and Eastern Europe, has agreed to acquire a 65% stake in Kent Hospital Group (Kent), a private hospital operator based in Izmir, Turkey. In addition, Mid Europa has entered into an agreement to increase its stake to up to 90% over time. The transaction is subject to customary closing conditions.
Established in 2004, Kent Hospital is one of the leading and most modern hospitals in southeastern Europe. Kent Hospital is a full service, 22,000 square-meter, 162 bed capacity medical complex, offering state-of-the-art diagnostic and treatment services. The
Castle Private Equity, the SIX Swiss Exchange listed fund of private equity funds, has approved a new distribution policy. The policy will enable the company to share realised gains with shareholders and has been initiated due to the strong recovery of the portfolio in the past two years and the company’s success in reducing its over-commitment levels.
The company is expecting to allocate up to half of its annual distributable gains to shareholders, to be distributed via share buybacks or capital repayments on an ongoing basis. Distributions of such gains are expected to occur over a one to three
Investors are increasingly looking to gold as a safe haven as the US Dollar, Pound Sterling and the Euro continue to devalue against stronger currencies such as those of Canada, Australia, Norway and Switzerland, says Angelos Damaskos (pictured), CEO of Sector Investment Managers and fund advisor to the Junior Gold Fund…
Sovereign debt problems in the developed world persist and continue to hamper economic growth. Quantitative easing is the easy solution but rising inflation creates a headache for central bankers.
Gold has now reached a new all-time high. Shares in gold mining companies are equities first and proxies for
The Honorable Susan Illston of the United States District Court for the Northern District of California on July 14, 2011 ordered former TPG Capital, LP (TPG) private equity associate Vinayak S Gowrish to pay in excess of USD112,000, consisting of USD12,000 in disgorgement (with interest to be calculated thereon) and a USD100,000 civil penalty, for his role in a serial insider trading ring.
Judge Illston also issued a permanent injunction against Gowrish enjoining him from future violations of the antifraud provisions of the federal securities laws (Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder). A
Total private equity deal values more than doubled in Q2, with a high number of secondary buyouts pushing this figure to EUR27.3bn – the highest total seen since the third quarter of 2007 – according to the unquote" Private Equity Barometer, which is published in association with Arle Capital Partners.
On a year-to-date basis, deal values are up by 59% on 2010 at EUR41.1bn, although activity levels are down 6% from Q1, with 253 deals completing compared to 269. Year-to-date activity levels are down by 11%.
Buyouts by value in Q2 jumped to EUR25.7bn, more than double the figure recorded
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