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Andrew Given, former partner with PricewaterhouseCoopers (PwC), has joined growth equity firm General Atlantic (GA) as a Senior Vice President. In this role, Given will provide financial expertise to the firm and its portfolio companies as part of its global Resources Group, with specific focus on GA’s investments in Europe.
GA’s Resources Group consists of several experienced executives who provide functional expertise to the firm’s investment teams and portfolio companies in a number of areas including technology, finance, operations, global delivery and human capital. GA’s investment strategy is characterised by its active value-added approach to building growth companies in partnership
The estimated market value of venture capital-financed companies in the US rose 19% in 2010’s fourth quarter and 23% for 2010, according to the Dow Jones US Venture Capital Index. The index’s performance topped the Dow Jones US Total Stock Market Index’s gains of 12% and 17%, respectively, over the same time periods.
The rise in the Dow Jones US Venture Capital Index for 2010 (based on back-testing) marks the second consecutive year in which valuations of, and the amounts invested in, venture capital-financed companies posted gains over to previous years.
Venture capitalists invested USD28.5 billion in 2,874 deals in
The Emergo Group has launched Emergo Ventures, the new venture capital investment organisation within the Emergo Group. Emergo Ventures will provide start-up or growth capital to businesses with innovative offerings addressing unmet needs in almost any sector.
Emergo Ventures will aim to identify and invest in businesses that have a thorough understanding of consumers and which have a unique and innovative way to address their needs.
"We are looking for businesses that will become market leaders in clearly defined sectors by providing novel solutions to unmet customer needs. We want to build upon the experience of the Emergo Group and
Media investment specialist Ingenious Group has appointed Neil Forster (pictured) as its Chief Operating Officer. Forster was previously the group’s Finance Director, with responsibility for all financial management and governance, having joined the company in 2008.
In his new role, Forster will maintain his responsibility for the group’s financial management whilst also overseeing operational and strategic implementation across Ingenious’ divisions.
Prior to joining Ingenious, Forster was Group Finance Director at Hat Trick Productions, one of the UK’s most successful producers of comedy, entertainment and drama programming. He has also held various senior finance roles within the European television business
Intertrust Group Holding SA (Intertrust) has completed the acquisition of Close Brothers (Cayman) Limited and Close Bank (Cayman) Limited, after having received all regulatory and other necessary approvals. Intertrust and Close Brothers Group Plc already signed the sale and purchase agreement on 18 March 2011.
All the activities of Close Brothers (Cayman) Limited and Close Bank (Cayman) Limited (together ‘Close Brothers Cayman’) will be fully rebranded into Intertrust as of 1 August 2011.
David Goldstein and Gerald Rokoff, both formerly with White & Case LLP, have joined DLA Piper as partners in New York. Goldstein joins the firm’s global Finance Group and will lead the Investment Funds Practice. Rokoff joins the Tax Group.
“With the addition of David and Jerry, DLA Piper deepens its investment funds bench and creates a significant opportunity to develop a holistic practice representing private equity and hedge funds in their most complex transactions,” says Roger Meltzer (pictured), Global Chair of DLA Piper’s Corporate and Finance Practice. “Their collective experience further enhances our full service approach to representing
Aoifinn Devitt, Portfolio Manager of the City Financial Asian Absolute Growth Fund, comments on faltering economic growth in China…
“Pre-emptive moves by the Chinese government to contain inflation, via both interest rates and RRR hikes, are starting to bite. Although the investment managers that we follow would agree that it is too early to declare victory over inflation in the country.
“Latest manufacturing figures indicate that growth momentum, while more subdued than before, remains strong and they are likely to give cheer to investors who have become considerably more concerned regarding the sustainability of that growth, leading Chinese markets
Private equity firm KSL Capital Partners has completed the final closing of KSL Capital Partners III, which will specialise in investments in travel and leisure businesses. With in excess of USD2 billion in commitments, the final closing significantly exceeded the original target amount of USD1.5 billion.
Investors in the fund include public and private pensions, foundations, endowments, institutions and high net worth individuals and families.
KSL was founded by Michael Shannon and Eric Resnick in 2005. KSL currently has in excess of USD3.5 billion in equity commitments under management.
“This new Fund will utilise the same investment principles we
Industry Ventures LLC has appointed industry veteran Robert May as Chief Financial Officer and Chief Compliance Officer. May has successfully led and managed financial reporting, limited partner relations and operations across a number of venture capital firms, most notably serving as CFO and COO with leading Silicon Valley firms including Founders Fund and Thomas Weisel Venture Partners.
Additionally, the firm has appointed Jay Ganatra as an associate working on secondary direct investment transactions, as well as limited partnership interests.
"Our firm has experienced accelerated growth as the secondary market overall continues to expand and liquidity needs for pre-IPO businesses
Foley & Lardner LLP has launched Foley Ventures, a USD4 million venture capital fund exclusively to invest in or with Foley clients.
The development of Foley Ventures is a direct result of the firm’s extensive experience and insight gained through working with numerous private equity and venture capital funds and emerging companies. Recognising that clients need more than legal insights to succeed, the firm launched Foley Ventures to have the ability to invest in or alongside clients.
“We felt that establishing a venture fund was the next logical step in support of our clients dealing with sophisticated financing issues,” says
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