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The estimated market value of venture capital-financed companies in the US rose 10.1% in 2011’s first quarter from the end of 2010, according to the Dow Jones US Venture Capital Index. The index’s performance topped the Dow Jones US Total Stock Market Index’s total return gain of 6.4% over the same time period.
The return on the Dow Jones US Venture Capital index for the 12-month period ended March 2011 was 32.7%. The largest gains for the quarter and year ended in March 2011 were in software companies.
Venture capitalists invested an estimated USD6.5 billion in 661 deals in
Two Guernsey firms are merging to create the largest independent fund administration business in the island. In the 50:50 deal, described as a merger of equals, Anson Fund Managers Limited and Bordeaux Services (Guernsey) Limited will join forces and trade under the Anson name.
Peter Radford of Bordeaux, who will be Chief Executive Officer of the merged entity, believes that the move will provide critical mass and, importantly, enable the business to remain independent. Anson principal John Le Prevost (pictured above right with Radford) will become a Senior Director and Professor Richard Conder will become the new chairman of Anson
ORIX Venture Finance (OVF), a leading provider of growth capital for growing technology companies nationwide, has appointed Ron Kundich, a seasoned technology and life science finance executive, as a principal in its Silicon Valley office.
Kundich will serve as a senior relationship manager for the western region, working closely with Michael David, who was recently promoted to Co-Head of the division.
OVF’s Palo Alto office targets growing technology companies in Silicon Valley and the Pacific Northwest, which have private equity or venture capital backing. Kundich will support the growing West Coast demand, as well as OVF’s expansion into the
Krokus Private Equity has signed an agreement to acquire 75% of the shares in Termo-Organika Sp. z o.o. Krokus PE has made this investment together with the Management of the Company in buyout from the international construction material group CRH plc.
Termo-Organika is Poland’s leading producer of wide range of housing insulation products made of polystyrene foam. The Company also sells a range of branded complementary products like adhesives, plasters, mortars, paints in its ‘Platinum insulation system’ as well as other products (e.g. XPS). Termo-Organika insulation systems are used for facades, roofs & floors, foundations etc.
The company is the
Investcorp, a global provider and manager of alternative investment products, has acquired Sur La Table, a leading national kitchenware retailer with locations across the United States. The terms of the transaction have not been disclosed.
Sur La Table was acquired from the Behnke family and investment firm Freeman Spogli & Co. who will both remain as investors in the company.
With its headquarters in Seattle, WA, Sur La Table is a multi-channel retailer that sells through 86 stores in the United States, as well as through its catalog, website and gift registry. It offers a broad selection of kitchenware brands
South America is becoming increasingly popular with European private equity-backed companies pursuing buy & build strategies, according to detailed analysis by Silverfleet Capital, in conjunction with mergermarket, of the sector in Q2 2011.
The number and size of add-on deals made outside of Europe, particularly in South America, in the quarter stands out. Given the relatively modest current prospects for economic growth in Europe it is no surprise that European private equity backed companies have decided to acquire in other regions. This trend also illustrates private equity’s ability to support such transactions.
The second quarter of 2011 saw overall volumes
First Reserve Corporation, a global private investment firm focussed on the energy and natural resource industries, has made an investment in Amromco Energy (Amromco), the largest and leading independent oil and gas producer in Romania.
The investment is the first stage in First Reserve’s plans to build an oil and gas platform in the Central and Eastern European region.
Amromco is the third largest gas producer in Romania, after Romgaz and Petrom, and is focused on the acquisition of upstream oil and gas projects in emerging markets and their subsequent enhancement through the application of state of the art
Guernsey has signed Tax Information Exchange Agreements (TIEAs) with the Czech Republic and the Bahamas.
Guernsey’s Chief Minister, Lyndon Trott (pictured), signed the Czech TIEA at the Republic’s Embassy in London last week. The Bahamas TIEA was signed last month, by correspondence.
The signature of these two agreements brings the total number of TIEAs signed by Guernsey to 28*.
“Guernsey is resolutely committed to meeting international standards of tax transparency, and the signature of these agreements further enables us to do so”, said the Chief Minister.
“I am particularly delighted that, with the completion of the Czech agreement, Guernsey has
Matrix Asset Management has appointed Rebecca Ledlie as Head of Product and Marketing to spearhead the division’s ambitious growth strategy.
Ledlie has an 18 year track record in the financial services industry and joins from Gartmore where she was Head of Product. During her eight years at Gartmore, Ledlie was responsible for the development and maintenance of Gartmore’s product range including hedge funds, offshore and onshore fund ranges and segregated accounts. Previous roles include Deutsche Asset Management as Product Manager and Dexia Group where she started as a Money Market Trader.
Ledlie holds both a Master of Business Administration and
NICE Systems has agreed to acquire Advent portfolio company Fizzback, a leading provider of real time customer experience management software, for approximately USD80m.
Advent Venture Partners’ team built a strong partnership with Fizzback, having backed its founder and CEO Rob Keve in late 2006, and becoming the company’s largest shareholder. Advent was instrumental in bringing important hires, customers, partners and advisors to the company, both in Europe and the US. The deal is expected to complete during autumn 2011.
The sale generated a multiple of over 5x Advent’s investment, and is the fourth exit by the Technology team in 2011.
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