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Following confirmation of the AIFM Directive at the end of 2010, Jersey has announced that it is working to deliver a range of flexible options, including a fully AIFMD compliant regime and to retain existing complementary regimes for asset managers that have no wish to access EU institutional capital under an AIFMD passport.
The island has taken a joined up approach to AIFMD, with commercial representatives of its funds industry working in partnership with Jersey Finance, the central promotional body for the international finance centre, to ensure that Jersey’s strategy offers certainty for existing managers and a highly competitive
Arma Partners acted as exclusive financial adviser to Lloyds TSB Development Capital (LDC) on its acquisition of a majority stake in leading web hosting provider UK2 Group (UK2), for GBP47m, in partnership with its management team.
Established in 1997, UK2 has evolved into a leading international provider of domain name registration, shared, dedicated and Cloud hosting services to customers globally through multiple brands, delivered from data centres in the UK and the US.
UK2 has an industry-wide reputation for innovative hosting products. Through the VPS.NET brand, UK2 offers virtual private server Cloud hosting to the mass market and
Private equity fund administrator Langham Hall has been appointed as the Guernsey administrator to Cubera VI, a Guernsey authorised closed-ended scheme which acts a secondary fund focusing on purchasing LP shares in Nordic buy-out funds.
The advisor to the fund is Cubera Private Equity AS, a Nordic investment firm specialising in secondary transactions in the Nordic private equity market. Since inception in 2006, Cubera Private Equity has established six private equity structures.
Cubera Private Equity represents the most comprehensive team set up for secondary transactions in Nordic private equity. The professionals have more than 60 years of combined private
Rockley Group, the sustainable technology funding group led by Andrew and Robert Rickman, has expanded the investment team for its Rockley China Fund with the appointment of Dr Yanong Ning as investment director, David Ding as investment manager and Ella Huang as investment associate.
The appointments follow the Group’s announcement that it is expanding the Rockley China Fund LP to USD200 million. Rockley China includes Rockley Luxin, a USD100 million fund with the Shandong High-Tech Investment Corporation, and Shanxi Zhongying Rockley, a USD100 million fund with the Shanxi Small and Medium Enterprise Corporation.
The Rockley China Fund is expected
EISER Infrastructure Partners (EISER), through its Global Infrastructure Fund, has arranged EUR475 million of long-term project financing for Aries Solar Termoeléctrica S.L. (ASTE”, which is developing two 50 MW solar thermal power plants, ASTE-1A and ASTE-1B, near Ciudad Real, Spain.
EISER originally invested in ASTE in October 2007 and has been integral to the implementation of the two projects, financing much of the early stages of procurement and heavily involved in negotiating key project contracts including the construction and operation agreements, land agreements and financing contracts.
As part of the transaction EISER sold a majority stake in ASTE to the
Apex Fund Services is to create 50 jobs in Ireland over the next 18 months with the opening of a new office in Dublin. The new office opening is in response to Apex Fund Services rapidly growing client base internationally.
With 21 offices internationally, Apex Fund Services located in Cork 4 years ago, and successfully recruited the highly skilled financial services staff required to grow and scale the business in Ireland. Now having reached its optimum size and with an increasing amount of funds business going through the Irish office, establishing a presence in Dublin was the obvious next
Espen Robak, president and founder of Pluris Valuation Advisors, argues that Black-Scholes and other theoretical valuation models have long failed to value illiquid securities properly, but but their inadequacy is especially an issue today because of the prevalence of illiquid assets, regulatory insistence on fair value and the availability of more accurate methodologies.
Hedge funds frequently use valuation models that produce inaccurate results for illiquid assets, risking accounting irregularities that can result in potential litigation, increasing redemptions and other issues.
For years it has been common practice for hedge funds to use simple theoretical approaches to valuation, of which the
Harris Williams & Co Ltd, a global middle market investment bank, has advised The Cralye Group ion the sale of portfolio company The Mil to Barclays Private Equity. The transaction closed on April 18, 2011 and was led by Thierry Monjauze, Red Norrie, Francois Morin and Eric Logue of the firm’s London office.
“The Mill’s creative excellence has led to a differentiated visual effects platform in the brand communications space, and the company has excellent global growth prospects," says Thierry Monjauze, Managing Director and Head of Harris Williams & Co’s European advisory practice. "This attracted both strategic and private equity buyers
Private equity manager NewQuest Capital Partners has formed NewQuest Asia Fund I, a fund focused on investment opportunities in Asia. The fund is backed by a syndicate of limited partners consisting of Paul Capital, HarbourVest Partners, LGT Capital Partners and Axiom Asia.
Simultaneously with its formation, the fund acquired substantially all of Bank of America Merrill Lynch’s non-real estate private equity portfolio in Asia. The Bank of America Merrill Lynch Asia private equity team will continue to manage the portfolio as part of NewQuest Capital Partners.
The acquired portfolio consists of over 20 growth-equity and buyout interests primarily in
An affiliate of Perella Weinberg Partners’ Asset Based Value strategy is to acquire AIG Rail Services Inc, a provider of customised full service and net leases servicing the railroad marketplace. Financial terms of the transaction were not disclosed.
As part of the transaction, certain funds within the Asset Based Value strategy have formed a new entity to purchase and manage AIG Rail Services Inc, which will be converted into a limited liability company as part of the transactions and continue operations under the name Flagship Rail Services LLC. Eugene Henneberry, President and Chief Executive Officer of AIG Rail Services, will
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