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Electra Partners today announces that it has extended its relationship with existing German investment partner, Steadfast Capital GmbH (“Steadfast”), by investing EUR26 million in a secondary investment in Steadfast’s second fund (“Fund II”).
Fund II is fully invested and comprised of five investments the largest of which are: FEP (automotive connectors); Kautex (specialist manufacturing equipment); and Falk & Ross (promotional clothing distributor). Electra Partners is looking to repeat the success it has had with the EUR36 million secondary investment it made in Steadfast’s first fund in 2008. At the time the fund comprised of 13 investments, the largest of which,
President Dmitry Medvedev has officially announced the launch of the Russian Direct Investment Fund. The fund’s management committee has been registered, its leadership appointed and preliminary reactions from international investors have been positive.
Over the coming five years the USD10 billion Russian government-backed fund will make direct investments in businesses and assets in high-growth sectors of Russia’s economy. In every investment it makes, the fund is mandated to co-invest with leading institutional investors or corporates – thus acting as a catalyst for flows of direct investment, new technologies and talent into Russia.
The management company of the fund has
Oddo Asset Management is stepping up its development and launching a dedicated M&A alternative management activity. This absolute performance strategy mainly consists of investing in companies which are takeover targets, taking advantage of the difference between the share price and the price offered by the buyer.
The fund was launched on 1 June, with the Oddo Group providing initial financing of EUR100m. The objective is to reach EUR300m in assets under management by end-2012, particularly from qualified European and Asian investors.
Guido Mundt, CEO of Oddo AM, says: "This launch is a perfect example of the synergies unlocked through the
East Capital Explorer AB has accepted PepsiCo’s buyout offer to purchase its holding in Wimm-Bill-Dann Foods OJSC, a leading Russian dairy and juice company. East Capital Explorer realised an annualised pre-tax return of 17.4% on its initial EUR 6.8m investment (39.7% pre-tax IRR when measured in the transaction currency USD).
Gert Tiivas, CEO East Capital Explorer, says: "We are pleased that our investment manager successfully executed this short-term investment opportunity in Wimm-Bill-Dann as means to maximize returns utilising cash awaiting deployment into other investments."
The buyout offer by PepsiCo was required in accordance with Russian law after it
In the wake of the financial crisis, investors (LPs) are driving rapid change in the private equity industry, including a wide-ranging re-balancing of their portfolios and the recruitment of more in-house staff, according to Coller Capital’s latest Global Private Equity Barometer.
Having had time to gauge the effects of the financial crisis, the majority (54%) of investors now believe private equity is more correlated with public equities than they once did – and they now expect one in five of today’s private equity managers (GPs) to fail.
However, their confidence in the asset class overall remains strong. This is
PwC is increasing its capabilities to advise businesses on raising capital and re-finance existing loans with the appointment of one of the industry’s leading figures.
Nick Atkinson, who starts as a partner in the firm today (20 June), is heading up an expanded business unit, which will advise on capital structuring options for mid-sized and large businesses. PwC is also making two further partner hires into the group with John Williams and David Godbee both joining the firm today. Both are highly experienced leveraged finance practitioners who have worked at a number of investment banks. Nick Carmichael also joins
EFAMA, the European Fund and Asset Management Association, has elected Claude Kremer as its President for a two-year term. The election of the new EFAMA head took place in Lucerne during the association’s Annual General Meeting.
The representatives of the European investment management industry also appointed two Vice-Presidents, Mr Christian Dargnat and Mr Massimo Tosato. It is the first time that EFAMA has elected two Vice Presidents, reflecting its commitment to engaging with the industry regulatory and operating environment.
The new President, Mr Kremer, has already served as Vice-President and will succeed Jean-Baptiste de Franssu who served for two years. Kremer
The Aureos Africa Fund has completed a USD5.35m investment in Bio-Plastics Limited, a fast-growing Ghanaian plastics manufacturer. The investment will allow the company to expand its capacity and start manufacturing biodegradable plastics. This will be the 14th investment by the $381.1 m Fund since its first close in September 2008.
Aureos Capital Limited is a private equity fund management company specialising in investing in small and medium sized businesses in emerging markets.
Bio-Plastics currently employs 70 people, and is one of the key suppliers of plastic products to the Ghanaian and West African markets. 38% of the company’s turnover
The Hedgeweek USA Awards 2011 for excellence among hedge fund managers and service providers have honoured the US industry’s best performers and their ability to demonstrate consistency and depth of expertise against the backdrop of a more complex, but also potentially more rewarding, investment climate.
The awards, presented at a lunch at New York’s Gansevoort Hotel on Thursday, June 16, were decided by the votes of Hedgeweek’s nearly 20,000 US-based subscribers, who include institutional and high net worth investors as well as managers and other industry professionals at firms including fund administrators, prime brokers, custodians and advisers.
The Hedgeweek USA
Responding to growing market demand for European domiciled investment fund products, and the emergence of Dublin as a centre for alternative investment products, DMS Management Ltd (DMS) has opened a new office in Dublin, Ireland.
Led by Irish resident principals Derek Delaney and Don Ebanks, and leveraging DMS’ global fund governance platform, DMS Ireland is ideally positioned to help fund sponsors grow their asset management businesses by establishing UCITS, QIFs, SPVs and other European products to attract European and other international investor clientele.
As residents of Ireland, Delaney and Ebanks are able to serve as directors to a wide range
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